Pampa Energia Sa · BCBA:PAMP

Pampa Energia Sa — Q2 2023 Earnings Presentation

17 slides from Pampa Energia Sa's earnings presentation, June 2023

  1. Slide 1: Q2 2023 results videoconference

    Q2 2023 results videoconference

  2. Slide 2: Disclaimer

    Disclaimer The material that follows is a presentation of general background information about Pampa Energia S.A.(“"Pampa” or the “Company”) as of the date of the presentation. It is information in summary form and does not purport to be complete. It is not intended to be relied upon as advice to po

  3. Slide 3: Q2 2023's key takeaways - consolidated figures, in US$ million

    Q2 2023’s key takeaways - consolidated figures, in US$ million Revenues1 Consolidated adjusted EBITDA1 580 577 similar yoy 253 -13% yoy 527 +9% qoq 206 222 +8% qoq       ✓ ✓ 44% 39% 38% ✓ ✓ ✓ ✓ Q2 23 Q2 23 Capex1 Consolidated adjusted EBITDA breakdown1,2 +59% yoy 56% 207 210 similar qoq 3% ✓ 1

  4. Slide 4: Power generation: PPAs still make this segment a resilient business

    Power generation PPAs still make this segment a resilient business Adjusted EBITDA1, in US$ million Generation performance, in GWh 108 similar yoy 5,760 +17% yoy 99 98 5,218 -9% qoq -9% qoq 4,477 ✓  ✓  55% 59% 52%  ✓  ✓  ✓  Q2 23 Q2 23 Availability performance, in % to installed capacity ✓ ✓ 9

  5. Slide 5: Growing our green energy contribution

    Growing our green energy contribution PEPE IV fully commissioned, PEPE VI underway PEPE IV 81 MW expansion June 17, 2023 US$121 million PEPE VI 300 MW total expansion 139.5 MW by 2H2024 US$265 million 17% Pampa Energía ⚫ 5

  6. Slide 6: Oil and gas: Soft retail demand and exports helped the quarter

    Oil and gas Soft retail demand and exports helped the quarter Adjusted EBITDA, in US$ million Lifting cost, in US$ million -4% yoy +15% yoy 102 97 40 +58% qoq 37 +7% qoq  34  62  ✓ 7.1 55% 48%  6.5 39% 5.8 ✓ Q2 23 Q2 23 Production performance, in kboe/d Crude oil sales, in kbbl/d +4% yoy 67.7 65

  7. Slide 7: Acquisition and full ownership of Rincón de Aranda

    Acquisition and full ownership of Rincón de Aranda Development of shale oil play by replicating El Mangrullo’s successful strategy • Development of affordable and competitive oil for export, contributing Argentine energy trade balance • Sole ownership: 55%  100% WI • 59,154 acres located in the hea

  8. Slide 8: Oil and gas: Gas exports contribute to better prices and output

    Oil and gas Gas exports contribute to better prices and output Gas sales, in mcmpd Weighted avg gas price for Pampa, in US$/MBTU +4% yoy 4.7 4.8 2023 YTD = 4.4 4.4 10.2 10.6 +18% qoq 4.0 9.0 3.9 ✓ 2022 = 4.2  2021 = 3.6 ✓ ✓  Q2 23 Q2 Destination of our sales in Q2 Pampa Pampa Energía ⚫ 8

  9. Slide 9: Oil and gas: Production curtailed by mild winter and delayed GPNK commissioning

    Oil and gas Production curtailed by mild winter and delayed commissioning of GPNK Neuquina production commitment vs. delivery In mcmpd 15.7 15.7 15.7 13.8 13.8 13.8 10.9 10.9 9.0 9.0 9.0 9.0 Gas exports 2.0 1.7 1.4 1.5 1.5 1.5 1.3 1.3 1.2 0.9 0.9 0.7 Note: Under Plan gas, committed production assume

  10. Slide 10: Oil and gas: New shale gas wells are performing as expected

    Oil and gas New shale gas wells are performing as expected Qmax ranges, by pad and block In thousand cubic meters per day Note: committed production assumes maximum daily volumes as per contract. Pampa Energía ⚫ 10

  11. Slide 11: Petrochemicals: Reforming led the quarter

    Petrochemicals Reforming led the quarter Adj. EBITDA, in US$ million Sales performance, in thousand ton 1,240 19 103 106 +17% yoy 91 +3% qoq -48% yoy 10 +43% qoq ✓ 7  12% 6% 8%   ✓ Q2 23 Q2 23 Q2 23 sales volume breakdown by market 41% % 59% Pampa Energía ⚫ 11

  12. Slide 12: Q2 financial position

    Q2 23 financial position Improvement of CAMMESA’s DSO and heavy investment Key cash flow figures for the Restricted Group, US$ million Q2 23 FCF = US$(44) million +US$18m yoy, -US$15m qoq +US$306m yoy +US$103m qoq Improvement in CAMMESA DSO Pampa Energía ⚫ 12

  13. Slide 13: Strong financial position

    Strong financial position Remarkable operating performance keeps improving leverage ratios Key leverage figures, as of June 30, 20231, US$ million Consolidated with Restricted Group Affiliates at O/S3 affiliates at O/S Debt 2 1,658 306 1,963 After Q2 2023: Cash 872 141 1,013 • • Net debt 786 164 951

  14. Slide 14: pampaenergia.com

    pampaenergia.com - (in) (f) © “ energia

  15. Slide 15: Q2 2023's key takeaways: Consolidated figures, in US$ million

    Q2 2023’s key takeaways Consolidated figures, in US$ million Q2 23 Net income to shareholders Q2 22 Q2 23 Pampa Energía ⚫ 15

  16. Slide 16: Holding & others

    Holding & others Adj. EBITDA2, in US$ million 35 29 -53% yoy 16 -45% qoq Q2 23 Affiliates’ EBITDA Performance @ 100% Ownership, in US$ million 38 27 107 26 95 87    ✓ ✓ ✓ ✓ Q2 23 Q2 23 Pampa Energía ⚫ 16

  17. Slide 17: Collection days from CAMMESA

    Collection days from CAMMESA Evolution of delays 75 58 58 55 55 44 37 30 35 31 36 24 15 13 0 0 -5 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Pampa Energía ⚫ 17

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