Vista Energy Sab De Cv Class A · BMV:VISTA/A
Vista Energy Sab De Cv Class A — Vista Oil & Gas, S.A.B. de C.V. — Investor Day (December 2021)
30 slides from Vista Energy Sab De Cv Class A's investor day presentation, Dec 9, 2021
Slide 1: Industry-leading growth and superior total shareholder return
Exhibit 1 Industry-leading growth and superior total shareholder return with low-cost & low-carbon world-class performance Investor Day December 9, 2021
Slide 2: About projections and forward-looking statements
02 About projections and forward-looking statements Additional information about Vista Oil & Gas, S.A.B. de C.V., a sociedad anónima bursátil de capital variable organized under the laws of Mexico (the “Company” or “Vista”) can be found in the “Investors” section on the website at www.vistaoilandgas
Slide 3: Agenda
03 Agenda Welcome ▪ Alejandro Cherñacov – Co-founder and Strategic Planning & Investor Relations Officer Superior shareholder return proposition ▪ Miguel Galuccio – Founder, Chairman of the Board and Chief Executive Officer Sustainability, a competitive advantage ▪ Gabriela Prete – Sustainability &
Slide 4: Superior shareholder return proposition
04 Superior shareholder return proposition Miguel Galuccio Founder, Chairman and Chief Executive Officer
Slide 5: Key milestones to date
05 Key milestones to date (3) SPAC + PIPE Dual listing D&C activity D&C cost P1 Reserves Sustainability 800 $MM raised 101 $MM gross 40 wells drilled 40% reduction to 122% increase in 30% reduction in as initial capital from proceeds raised in and tied-in in Vaca 10 $MM per well proved reserves from
Slide 6: Well-positioned to thrive in the new energy context
06 Well-positioned to thrive in the new energy context Shareholders are laser The world needs reliable focused on capital discipline and affordable energy and earnings quality Managing and benefiting from The transition to low- price volatility requires flexible carbon energy is a short-cycle invest
Slide 7: Vaca Muerta, a world-class play fit for the future
07 Vaca Muerta, a world-class play fit for the future Low-cost, low-carbon O&G Already changed the energy On path to become a relevant PPP with top productivity paradigm in Argentina crude oil export platform (4) (1) (2) Average well 180-d cumulative production Vaca Muerta total production Vaca Muer
Slide 8: Superior shareholder return proposition
08 Superior shareholder return proposition (1) Strong foundations Priorities for the next 5 years ✓ Gradually increase D&C pace in Bajada del Palo Oeste from 20 to 40 wells per year Deep, ready-to- Peer-leading drill, short-cycle operating ✓ Sell incremental crude oil production to export markets, w
Slide 9: Delivering strong total shareholder returns through 2026
09 Delivering strong total shareholder returns through 2026 (1) Key 2026 targets: Industry-leading growth: Low-carbon energy: Production Adj. EBITDA 16% 24% (2) (3) (3) CAGR 80 Mboe/d +1 $Bn CAGR Superior returns: GHG emission intensity Adj. EBITDA margin ROACE 9 Kg CO e/boe 2 (4) +65% 45% 75% (5) F
Slide 10: Near-term roadmap to our net zero ambition
10 Near-term roadmap to our net zero ambition GHG emissions & carbon removals (1) We aspire to become net zero in 2026 MTonCO e 2 500 ▪ Our priority is to continue reducing our operational carbon footprint by 250 implementing technologies currently available to us 0 // // -250 ▪ In 2022, we plan to
Slide 11: Sustainability, a competitive advantage
11 Sustainability, a competitive advantage Gabriela Prete Sustainability & QHSE Manager Alejandro Cherñacov Co-founder and Strategic Planning and Investor Relations Officer
Slide 12: Embracing the path to low-carbon energy production
12 Embracing the path to low-carbon energy production (1) (1) GHG emission intensity GHG emissions kgCO e/boe MTonCO e 2 2 ~35% absolute level reduction while ~(75)% doubling production 417 39 365 340 290 265 24 18 12 9 // // // // 2020A 2021E 2022F 2024F 2026F 2020A 2021E 2022F 2024F 2026F ▪ Alread
Slide 13: Removing carbon from residual emissions through our NBS portfolio
13 Removing carbon from residual emissions through our NBS portfolio Strong emphasis on Maximize reliability and environmental benefits: projects aim to be material, incremental, measurable, permanent and promote bio-diversity quality Diversification Across geographical regions, project types and op
Slide 14: Investing in our people is a cornerstone of our ESG program
14 Investing in our people is a cornerstone of our ESG program Diversity, equity and inclusion Actively engaged with local communities ▪ Our main asset is our people, and we are strongly committed to ▪ Active in local communities with sports, education, health and developing an organizational cultur
Slide 15: Our plan is supported by independent governance and clear accountability
15 Our plan is supported by independent governance and clear accountability Board of Directors Board of Directors Accountability oversight independence ▪ BOD is responsible for ▪ 67% of Board members are ▪ More than 20% of our supervising the Company’s independent employees are Vista strategic direc
Slide 16: Operational excellence
16 Operational excellence Juan Garoby Co-founder and Chief Operating Officer
Slide 17: From the core of Vaca Muerta to the world
17 From the core of Vaca Muerta to the world Vista is a pure Vaca Muerta play and has become the second shale oil producer in Argentina ▪ Five concessions with 35-year terms covering more than 158 k acres (84% operated) ▪ Successfully tied-in 40 new shale oil wells in Bajada del Palo Oeste, from a t
Slide 18: Bajada del Palo Oeste: Our main value-generation driver
18 Bajada del Palo Oeste: Our main value-generation driver ▪ Prolific asset due to its high-quality rock properties (2) Vaca Muerta wells - cumulative 90-day reported oil & gas production ▪ Proved productivity in 3 landing zones boe/ft ▪ Detailed subsurface characterization workflow leads to 30 30 o
Slide 19: D&C efficiency driving cost down by 40%
19 D&C efficiency driving cost down by 40% (1) D&C cost per well ▪ Reduced well drilling time from +30 to 16 days per $MM (40)% well on average from 2018 to 2021 ▪ Best-in-class completion performance, allowing us Development cost 16.6 7.3 $/boe to complete an average of 8.5 stages per day 12.2 ▪ Ap
Slide 20: Delivered robust production growth and lifting cost performance
20 Delivered robust production growth and lifting cost performance (1) Total production Lifting cost per boe Mboe/d $/boe (56)% 52% Vista operation 38 16.9 13.9 29 27 25 10.8 9.0 7.5 (2) Q1-18A 2018A 2019A 2020A 2021E 2018A 2019A 2020A 2021E Plan includes gradually increasing D&C activity levels in
Slide 21: Achieved Tier 1 safety performance
21 Achieved Tier 1 safety performance (1) TRIR 3.93 In line with Tier 1 international oil & gas company performance 1.30 TRIR < 1 0.38 0.30 2018A 2019A 2020A 2021E Substantially improved our safety performance since operations take-over in 2018 (1) TRIR (Total Recordable Injury Rate): Recordable Wor
Slide 22: 2026 development targets showcase robust growth plan
22 2026 development targets showcase robust growth plan (1) (2) Production Lifting cost Development cost Mboe/d $/boe $/boe (20)% (11)% ~2x 80 7.5 7.3 62 6.5 6.0 46 38 // // 2021E 2022F 2024F 2026F 2021E 2026F 2021E 2026F Efficiency gains in lifting cost and development cost forecasted to lead to im
Slide 23: Profitable, resilient growth plan with significant upside
23 Profitable, resilient growth plan with significant upside Pablo Vera Pinto Co-founder and Chief Financial Officer Alejandro Cherñacov Co-founder and Strategic Planning and Investor Relations Officer
Slide 24: Capital allocation priorities seek to maximize total shareholder return
24 Capital allocation priorities seek to maximize total shareholder return Our capital allocation priorities Maintain flexibility across 4 strategic levers: Investments in high-return and short- Growth cycle projects to generate profitable 1 growth driven by the export marketPP Distribute capital to
Slide 25: Low-risk, high-growth plan in place
25 Low-risk, high-growth plan in place (1) Capital expenditure Revenues $MM $MM ~2.5x (2) Domestic market Forecasted 2022-26 capex breakdown: (3) 1,650 Export market ▪ ~83% development capex largely in our de-risked flagship project Bajada del Palo Oeste % of exports in crude (planning to gradually
Slide 26: Plan expected to drive strong Adjusted EBITDA growth to +1 $Bn by 2026
26 Plan expected to drive strong Adjusted EBITDA growth to +1 $Bn by 2026 (1) Adjusted EBITDA $MM 35% 58% 63% 65% 67% ~3x 1,100 800 550 370 96 // // 2020A 2021E 2022F 2024F 2026F (1) Adjusted EBITDA Adjusted EBITDA Margin 1) Adj. EBITDA = Net (loss) / profit for the period + Income tax (expense) / b
Slide 27: Strategy expected to deliver industry-leading returns
27 Strategy expected to deliver industry-leading returns (2) (3) (1) LTM ROACE of Peers ROACE evolution % % ~3x 45% 40% 30% 25% 18% 17% 15% 14% 13% 12% 11% 9% 6% 5% 4% 4% 4% // // 1 2 3 4 5 6 7 8 9 10 11 12 13 Peer 2021E 2022F 2024F 2026F 1) ROACE = Operating profit (loss) / (Average total debt + Av
Slide 28: Planned debt reduction to gain additional flexibility
28 Planned debt reduction to gain additional flexibility Debt maturity schedule (3) Gross debt $MM $MM Current debt composition. 600 315 400 30% ▪ Average life: 2.5 years Additional 25 (1) liquidity 70% (2) ▪ Average interest rate: 5.4% 2021E 2026F 159 152 146 Gross leverage ratio 290 76 1.6x 55 0.4
Slide 29: Resilient cash generation with significant upside potential
29 Resilient cash generation with significant upside potential (3) Uses of cash flow from operating activities Cash generation – crude oil price sensitivity $Bn, cumulative 2022-26 $MM, cumulative 2022-26 Net cash generation Debt reduction 1,500 1,000 800 1,300 Cash flow 800 400 Cash 2.3 1.0 Capex f
Slide 30: Energy for Tomorrow - Thank you! Q&A
ENERGY FOR TOMORROW THANK YOU! Q&A
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