Pampa Energia Sa · BCBA:PAMP
Pampa Energia Sa — Q4 2020 Earnings Presentation
20 slides from Pampa Energia Sa's earnings presentation, March 2021
Slide 1: Q4 2020 results videoconference
Q4 2020 results videoconference
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
Slide 3: Main highlights of a challenging year: 2020's key operating takeaways
Main highlights of a challenging year 2020’s key operating takeaways Enhanced our power capacity1 Steady production despite prices2 Turnaround of petchem business 4,751 4,955 48.2 124 44.8 45.0 3,871 107 5,000 4,500 5.0 120 Oil 5.1 4.4 4,000 1,659 2,048 New 977 3,500 3,000 Gas 2,500 43.2 40.6 80 Leg
Slide 4: Focusing on core businesses: Sale of controlling stake at Edenor
Focusing on core businesses Sale of controlling stake at Brief summary of the transaction EBITDA, US$ million ▪ 7% 212 ▪ 161 ▪ 115 ✓ 51 ✓ ❑ → 2020 → Edenor share over Pampa Consolidated’s EBITDA ❑ Impact on Pampa’s EBITDA margin 48% ▪ 42% 43% ▪ Continuing → 31% 28% 29% Incl. Edenor Pampa Energía ⚫ 4
Slide 5: Main highlights of a challenging year: 2020's key financial figures
Main highlights of a challenging year 2020’s key financial figures, in US$ million Revenues1 Adjusted EBITDA1 3,470 3,261 1,081 2,556 Discont'd 915 Discont'd -22% yoy 1,437 1,502 222 157 750 -18% yoy 51 1,085 Cont. Cont. 859 758 699 2,033 1,759 1,471 ✓ ✓ ✓ 2020 2020 Capex1,2 Adjusted EBITD
Slide 6: Q4 2020's key takeaways
Q4 2020’s key takeaways Consolidated figures, in US$ million Revenues1 Consolidated adjusted EBITDA1 837 -28% yoy 234 -13% qoq -6% yoy 689 179 28 -28% qoq Discont'd 599 168 Discont'd 8 385 301 220 Cont. 206 184 ✓ Cont. 171 388 ✓ 452 379 ✓ ✓ ✓ (16) Q4 20 Q4 20 Capex1 Consolidated adjusted E
Slide 7: Amid Covid-19, power remained unchanged thanks to retail and exports
Amid Covid-19, power remained unchanged thanks to retail and exports Argentina’s net electricity demand, monthly average in MW 2020 Argentine power grid Power exports, in GWh 2020 3,089 Pampa Energía ⚫ 7
Slide 8: Power generation kept contributing resiliency to our performance
Power generation kept contributing resiliency to our performance Adjusted EBITDA1, in US$ million Generation performance, in GWh 132 4,400 121 3,805 4,000 +16% yoy 107 +13% yoy +10% qoq 71% 69% -8% qoq ✓ ✓ ✓ 50% ✓ ✓ Q4 20 Q4 20 Main news Availability performance, in % to installed capacity ✓ •
Slide 9: Ensenada Barragán Thermal Power Plant
Ensenada Barragán Thermal Power Plant Key infrastructure project for Argentina’s electricity supply Aerial view of CTEB Pampa Energía ⚫ 9
Slide 10: Gas upstream declined significantly during 2020, now back in recovery path
Gas upstream declined significantly during 2020, now back in recovery path Evolution of domestic gas production, in mcm/bcf per day 130/4.6 Imports as % of total gas demand 120/4.2 15% 110/3.9 28% 100/3.5 2021 2020 19% 2020 Argentine gas production 90/3.2 80/2.8 Jan Feb Mar Apr May Jun Jul Aug
Slide 11: Lower prices but higher productivity delivered sound performance
Lower prices but higher productivity delivered sound performance Adjusted EBITDA1, in US$ million Lifting cost, in US$ million 36 -7% yoy 40 -48% qoq 9.1 24 -40% yoy 20 19 23 +2% qoq 43% 6.0 ✓ 20% 27% ✓ 5.5 ✓ ✓ Q4 20 Q4 20 Production performance, in kboe/d Crude oil sales, in kbbl/d 40.4 41.3 47
Slide 12: Q4 was the last chapter of low gas prices, heading to a new season
Q4 20 was the last chapter of low gas prices, heading to a new season Gas sales, in mcfpd Weighted avg gas price for Pampa, in US$/MBTU -21% yoy -10% qoq 301 264 239 3.1 3.1 3.3 2.6 ✓ 2.3 2.5 2020 2.0 2.1 ✓ Q4 20 Q4 Main news Destination of our sales • Plan Gas.Ar • Operational update Pampa
Slide 13: Plan Gas.Ar 2021-24: a much needed boost to the Argentine gas
Plan Gas.Ar 2021-24: a much needed boost to the Argentine gas Pampa was awarded a 4-year GSA, ranked #3 in Neuquina Basin 2021-24 Pampa’s gas production by sales channel and price awarded in Plan Gas Annual average price, in US$/MBTU 312 319 320 321 321 +64% yoy 3.6 254 254 254 254 254 254 254 2.2 4
Slide 14: 2020 Reserves: growth driven by our gas blocks outstanding productivity
2020 Reserves Growth driven by our gas blocks outstanding productivity Undev’d 51% 10% % Dev’d 49% 90% El Mangrullo Block Pampa Energía ⚫ 14
Slide 15: Sound balance sheet to weather a challenging environment
Sound balance sheet to weather a challenging environment and ready to seize any opportunity Key leverage figures, as of December 31, 20201, US$ million Consolidated with Restricted Group Affiliates at ownership3 affiliates at ownership Debt2 1,614 352 1,966 After Q4 2020: Cash 466 89 554 • • Total b
Slide 16: Pampaenergia
Pampaenergia
Slide 17: Q4 2020's key takeaways
Q4 2020’s key takeaways Consolidated figures, in US$ million Q4 20 Net income to (463) shareholders -472m yoy -541m qoq Q4 19 Q4 20 Pampa Energía ⚫ 17
Slide 18: Electricity Distribution
Electricity Distribution Adj. EBITDA, in US$ million Sales Performance , in GWh +0.1% yoy -24m yoy -13% qoq 5,434 28 -44m qoq 4,745 4,752 ✓ ✓ 8 9% ✓ 2% (16) ✓ Q4 20 Q4 20 Number of End-Users, in million Main News • 3.14 3.15 • 3.12 • +1% yoy +0.5% qoq ✓ Q4 20 Pampa Energía ⚫ 18
Slide 19: Petrochemicals
Petrochemicals Adj. EBITDA, in US$ million Sales Performance, in thousand ton +18% yoy 795 +19% qoq 10 +12m yoy ✓ +3m qoq 107 7 91 90 ✓ ✓ 10% 12% ✓ ✓ (2) Q4 20 Q4 20 Main News • Pampa Energía ⚫ 19
Slide 20: Holding & Others
Holding & Others Adj. EBITDA2, in US$ million Main News 44 -24% yoy • +9% qoq ▪ 31 34 • ▪ Q4 20 Affiliates’ EBITDA Performance @ 100% Ownership, in US$ million 42 115 5 90 90 26 19 ✓ ✓ ✓ (0) ✓ (2) ✓ Q4 20 Q4 20 Q4 20 Pampa Energía ⚫ 20