Pampa Energia Sa · BCBA:PAMP

Pampa Energia Sa — Q1 2022 Earnings Presentation

18 slides from Pampa Energia Sa's earnings presentation, March 2022

  1. Slide 1: Q1 2022 results videoconference

    Q1 2022 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 pot

  3. Slide 3: Q1 2022's key takeaways - consolidated figures

    Q1 2022’s key takeaways - consolidated figures, in US$ million Another solid quarter, boosted by gas exports and operating performance Revenues1 Consolidated adjusted EBITDA1 +32% yoy +11% yoy 557 555 similar qoq 226 +13% qoq 420 ✓ 204 ✓ ✓ 199 ✓ ✓ ✓ 48% 41%   36%     Q1 22 Q1 22 Capex1 Consoli

  4. Slide 4: Power generation

    Power generation A resilient business that anchors our performance Adjusted EBITDA1, in US$ million Generation performance, in GWh +10% yoy +5% yoy 4,443 4,670 4,892 +5% qoq 115 121 +15% qoq 105 ✓ ✓  63% 58% 63% ✓ ✓   Q1 22 Q1 22 Main News Availability performance, in % to installed capacity ✓ •

  5. Slide 5: Ensenada Barragán Thermal Power Plant

    Ensenada Barragán Thermal Power Plant Key infrastructure project for Argentina’s electricity supply Aerial view of CTEB Pampa Energía ⚫ 5

  6. Slide 6: PEPE III Wind Farm expansion

    PEPE III Wind Farm expansion Growing our green energy contribution Pampa Energía ⚫ 6

  7. Slide 7: Oil and gas

    Oil and gas Higher prices and production delivered another exceptional performance Adjusted EBITDA1, in US$ million Lifting cost, in US$ million +70% yoy 56 +22% qoq 42 46 +32% yoy ✓ 30 -27% qoq 33 ✓ 23 7.8  40% 37% 40%  5.8 5.8 ✓ Q1 22 Q1 22 Production performance, in kboe/d Crude oil sales, in k

  8. Slide 8: Oil and gas: leading the gas export market

    Oil and gas Leading the gas export market with better prices Gas sales, in mcmpd Weighted avg gas price for Pampa, in US$/MBTU 4.4 +32% yoy 3.9 9.0 9.0 similar qoq 2022 3.1 6.8 ✓ ✓ ✓ ✓ Q1 22 Q1 Destination of our sales, YTD as of March Pampa Pampa Energía ⚫ 8

  9. Slide 9: Petrochemicals

    Petrochemicals Higher costs linked to int’l prices offset the sales price growth Adj. EBITDA, in US$ million Sales performance, in thousand ton 1,382 18 114 98 91 -7% yoy -20% qoq 17% 9 -67% yoy -33% qoq 6   6% 5%  ✓ Q1 22 Q1 22 Q1 22 sales volume breakdown by market 37% % 63% Pampa Energía ⚫ 9

  10. Slide 10: Q1 financial position

    Q1 22 financial position Solid operating performance self-financing expansions Key cash flow figures for the Restricted Group, US$ million Q1 22 FCF = US$1 million +US$198m yoy +US$16m yoy -US$45m qoq US$28m green bond +US$34m qoq Pampa Energía ⚫ 10

  11. Slide 11: Strong financial position

    Strong financial position Remarkable operating performance keeps improving leverage ratios Key leverage figures, as of March 31, 20221, US$ million Consolidated with Restricted Group Affiliates at ownership3 affiliates at ownership Debt2 1,452 331 1,783 After Q1 2022: Cash 607 128 735 • Net debt 845

  12. Slide 12: pampaenergia.com

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

  13. Slide 13: Q1 2022's key takeaways

    Q1 2022’s key takeaways Consolidated figures, in US$ million Q1 22 Net income to shareholders Q1 21 Q1 22 Pampa Energía ⚫ 13

  14. Slide 14: Holding & others

    Holding & others Adj. EBITDA2, in US$ million Main News +13% yoy • +9% qoq 37 39 42 ▪ ▪ • ▪ • ▪ Q1 22 Affiliates’ EBITDA Performance @ 100% Ownership, in US$ million 17 133 137 6 113 ✓ 8 9 ✓ 3  ✓ 3   ✓  Q1 22 Q1 22 Q1 22 Pampa Energía ⚫ 14

  15. Slide 15: Collection days from CAMMESA

    Collection days from CAMMESA Evolution of delays 75 58 55 58 55 37 35 29 24 15 13 12 0 0 -5 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Pampa Energía ⚫ 15

  16. Slide 16: Plan Gas.Ar aims to recover gas upstream back to 2019 levels

    Plan Gas.Ar aims to recover gas upstream back to 2019 levels Evolution of domestic gas production, in mcm/bcf per day Imports as % 130/4.6 of total gas demand 2022 120/4.2  23%  %  15% 110/3.9  19% 100/3.5 Argentine gas supply 90/3.2 YTD as of Mar 2022 +13% yoy 80/2.8 Jan Feb Mar Apr May Jun Jul

  17. Slide 17: Federal subsidies, in US$ billion

    Federal subsidies, in US$ billion Accumulated @ 2005-15: 163.4b 28.9 26.8 26.1 Accumulated @ 2016-19: 55.4b 21.9 22.0 20.9 19.8 15.0 14.4 12.3 11.1 9.8 9.4 8.7 7.3 5.0 2.5 1.6 Argentina’s nominal GDP 199 233 288 362 333 424 531 583 613 568 642 557 643 525 452 389 491 578 Pampa Energía ⚫ 17

  18. Slide 18: Cost of imports, in US$ million

    Cost of imports, in US$ million 2008-2015 US$36.5b 8,153 7,458 7,105 5,865 4,477 2016-2021 US$14.9b 3,315 3,132 2,837 2,524 2,338 1,774 1,293 1,271 530 623 Pampa Energía ⚫ 18

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