Pampa Energia Sa · BCBA:PAMP

Pampa Energia Sa — Q1 2020 Earnings Presentation

22 slides from Pampa Energia Sa's earnings presentation, May 13, 2020

  1. Slide 1: Pampa Energia Q1 2020 Results Videoconference

    Pampa energia Q1 2020 Results Videoconference May 13, 2020 10 AM EST / 11 AM ART We are environmen tally friendly Be GREEN, keep it on SCREEN

  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: Reporting Considerations

    Reporting Considerations FC = Q1 2020 Q1 2019 Functional Currency Reporting Reporting @ Subs Reporting @ Pampa Pampa stand-alone, gencos and other FC US$ FC US$ FC US$ subsidiaries Edenor TGS FC AR$ @ FC AR$ @ FC AR$ @ Transener March 31, 2020 March 31, 2020 March 31, 2019 ae Inflation = 4% Inflatio

  4. Slide 4: COVID-19 & Lockdown: How is Impacting Us and What We are Doing

    COVID-19 & Lockdown: How is Impacting Us and What We are Doing * Essential industry v Power v Upstream ¥ Electricity and oil & gas utilities Y¥ Refineries ¥ Petchem (except SBR) operative . e@eee 6 © @ @ @ * Health and safety first POTD ROTS AT 9,700 employees ¥ New protocols for those working at op

  5. Slide 5: ✓ 80%  ✓ 70%  ✓ 60% 50%  ✓ 40%  30%

    ✓ 250 80%  ✓ 70% 200  ✓ 60% 50% 150  ✓ 40%  100 30% ✓ 20% ✓ 50  10% 0 0%     ⚫

  6. Slide 6: Lockdown Negatively Impacted on National Power Generation

    Lockdown Negatively Impacted on National Power Generation, but There’s Signs of Recovery in May because of Winter Argentina’s Monthly Average Net Demand in MW 18,000 16,000 14,000 12,000 Comparison vs. March 2020 10,000 Y April 2020 -21% / ~3,000 MW -20% / ~ 8,000 sy May 2020 -20% / ~3,000 MW Compar

  7. Slide 7: Lower Power Demand is Driven by Non-Essential Industries under Lockdown

    Lower Power Demand is Driven by Mostly Driven by Non-Essential Industries under Lockdown Average Variations of National Gross Demand, by Sector Post-lockdown period: March 20-May 6, compared with: HB Pre-lockdown period: March 1-19 Same period in 2019 Distcos Food, retail & services Industries Oil,

  8. Slide 8: 150% ✓ 130% ✓ 110% ✓ ✓ 90%  ✓ 70% 85 80 50%

    120 150% 115 ✓ 130% ✓ 110 105 100 110% ✓ 95 ✓ 90% 90  ✓ 70% 85 80 50%  75  70 30% • • • ✓ ✓ ⚫

  9. Slide 9: Commissioning of CCGT Impacted by Lockdown

    Commissioning of CCGT Impacted by Lockdown = COD Rescheduled to Early August _ Estimated investment of : = Employed an avg of oN oN Higher power generation reaching an s WG@iew of CTGEBA, 2020 Pampa Energia @ 9

  10. Slide 10: Expansion Works Resumed

    Expansion Works Resumed Labor to employ at avg of Higher power generation reaching an Aerial view of CTEB, 2019

  11. Slide 11: Like in Power, the Lockdown Hit Gas Demand

    Like in Power, the Lockdown Hit Gas Demand, but Consumption has a Support Base because Winter is Coming Monthly Average of National Gas Demand in bcf per day 7.0 6.0 5.0 2018 4.0 “@ 2020 April 2020 vs... 3.0 sy March 2020: -11% / -0.5 bcfpd oy Same period 2019: -10% / -0.5 bcfpd 2.0 wy Same period 2

  12. Slide 12: Like in Power, the Lockdown Hit Gas Demand

    Like in Power, the Lockdown Hit Gas Demand, but Consumption has a Support Base because Winter is Coming Gas Upstream -Average Demand by Sector Post-lockdown period: March 20-May 6, compared with: HM Pre-lockdown period: March 1-19 Same period in 2019 Residential & SMEs Gas for cars Power generation

  13. Slide 13: 135% 115%  95%  75% ✓ 55% ✓ 35% 15%   ✓

    50 135% 45 40 115% 35  95% 30 25  75% 20 ✓ 55% 15 ✓ 35% 10 15%   ✓ ✓ ⚫

  14. Slide 14: Production Remained Stable Despite Prices

    Production Remained Stable Despite Prices Gas Production Performance, in mcf/d -2% yoy -5% qo 256 aa Price 249 244 ie cammesa v Exports to Chile Production * Rio Neuquén & Rincon del Mangrullo v El Mangrullo Q119 . 0419 =Q120 Main News * Gas tenders for power generation * Gas for distribution utilit

  15. Slide 15: Lockdown Affected CAMMESA Prices at Tenders

    Lockdown Affected CAMMESA Prices at Tenders but We Expect Winter will Reverse the Trend Neuquina Basin Tendered Prices at Wellhead Cammesa avg daily consumption April Jan-Mar US$/MBTU ) 2.70 T eee eeeneencencsccsececcaces Reference price r Feb: 2.59 avg / 2.1 bcfpd H Mar: 2.42 avg/ 2.2 bcfpd2.40 2.1

  16. Slide 16: Q1 2020's Key Takeaways

    Q1 2020's Key Takeaways Consolidated Figures, in US$ million Q1 20 Net Income to 16 7 (13) (9) 13 14 Shareholders 167 mm _: be “ | (41) Pe (9) 14 (83) Power Electricity Holding, Q1 19 Generation Distribution Oil & Gas Petrochemicals Others & Q1 20 Eliminations Pampa Energia @ 16

  17. Slide 17: Unlevered Company in a Highly Intense Capital Sector

    Unlevered Company in a Highly Intense Capital Sector, Maturities Well Distributed Over the Next Years Key Leverage Figures, as of March 31, 2020! In USS mation Pampa ; Affiliates? Consolidated with Restricted Group @ O/S affiliates @ O/S Debt* 1,613 168 423 2,205 Cash 373 69 134 577 Net debt 1,240 9

  18. Slide 18: Thank you for joining

    Q&A Thank you for joining our Q1 2020 Results Videoconference GUSTAVO MARIANI CEO GABRIEL COHEN CFO LIDA WANG Investor Relations Officer THE PAMPA ENERGIA BUILDING ri.pampaenergia.com/en Maipu 1 - (C1084ABA) investor@pampaenergia.com Ciudad Autonoma de Buenos Aires Argentina +54 (11) 4344 6000 OHOG

  19. Slide 19: Q1 2020's Key Takeaways

    Q1 2020's Key Takeaways Consolidated Figures, in US$ million Adj. EBITDA a 114 45 29 (2) 35 221 210 m7 (18) (4) a Q1 19 Power Electricity Oil & Gas? Petrochemicals Other Q1 20 Generation! Distribution Eliminations Note: 1 Incl. Greenwind & CTBSA at O/S. 2 Incl. Oldelval at O/S. 3 Incl. TGS, Transene

  20. Slide 20: ✓ ✓ ✓ ✓ ✓ 70% 60% ✓ 50% 40%  30%  20%

    ✓ ✓ ✓ ✓ ✓ 50 70% 45 60% 40 ✓ 50% 35 40% 30  30% 25  20% 20 10% 15 0% 10  -1 0% 5 -2 0% - -3 0% • • • ✓ • ✓  ⚫

  21. Slide 21: ✓   -  (1 ) (1 ) (2 ) ✓ (2 )

    3 2 2 ✓ 1 1   -  (1 ) (1 ) (2 ) ✓ (2 ) ✓ (3 ) ✓ • ⚫

  22. Slide 22: Holding & Others

    Holding & Others Adj. EBITDA2, in US$ million Main News 39 40 * Holding: Corporate reorganization * TGS = LPG commercialization in the domestic market Holding Q1 19 os Q4 19 Q1 20 Affiliates’ EBITDA Performance @ 100% Ownership, in US$ million Transener TGS Refinor 104 39 es Yor 34 oni Weeze ¥ Gradu

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