Vista Energy Sab De Cv Class A · BMV:VISTA/A
Vista Energy Sab De Cv Class A — Q3 2025 Earnings Presentation
12 slides from Vista Energy Sab De Cv Class A's earnings presentation, Oct 23, 2025
Slide 1: Third Quarter 2025 Earnings Webcast
Third Quarter 2025 Earnings Webcast October 23, 2025
Slide 2: About projections and forward-looking statements
02 About projections and forward-looking statements Additional information about Vista Energy, 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.vistaenergy.com.
Slide 3: Strong interannual and sequential growth
03 Strong interannual and sequential growth Q3 2025 HIGHLIGHTS Production Oil Production Revenues Lifting Cost CAPEX 127 Mboe/d 110 Mbbl/d 706 $MM 4.4 $/boe 351 $MM 74% y-o-y 73% y-o-y 53% y-o-y -6% y-o-y -5% y-o-y 7% q-o-q 7% q-o-q 16% q-o-q -5% q-o-q -1% q-o-q Adj. EBITDA Adj. Net Income Adj. EPS
Slide 4: Execution of development hub activity
04 Execution of development hub activity Q3-25 DEVELOPMENT PROGRESS PAD NAME NUMBER OF WELLS TIE-IN BPO-35 5 Late July BPO-36 4 Late August BPO-37 2 Early September AF-6 4 Early September LACh (in 4 pads) 9 August-September Solid productivity of new tie-ins boosted Q3-25 production growth by 7% q-o-
Slide 5: Strong sequential growth in production
05 Strong sequential growth in production TOTAL PRODUCTION (1) OIL PRODUCTION NATURAL GAS PRODUCTION Mboe/d Mbbl/d MMm3/d +74% +87% +73% +7% +7% +9% 126.8 2.65 118.0 109.7 2.44 102.2 72.8 63.5 1.42 Q3-24 Q2-25 Q3-25 Q3-24 Q2-25 Q3-25 Q3-24 Q2-25 Q3-25 ▪ Total production increased 7% sequentially dri
Slide 6: Material revenue growth driven by oil production increase
06 Material revenue growth driven by oil production increase REVENUES (1) AVG. REALIZED OIL PRICE $MM $/bbl +53% -5% +16% +4% 706 68.4 64.6 62.2 611 462 Q3-24 Q2-25 Q3-25 Q3-24 Q2-25 Q3-25 3.5 5.6 6.3 % of oil in total 95% 96% 96% Oil exports (MMbbl) net revenues 56% 61% 62% Avg. realized natural 3.
Slide 7: Low cost, fully-focused shale oil producer
07 Low cost, fully-focused shale oil producer LIFTING COST PER BOE (1) SELLING EXPENSES PER BOE $/boe $/boe -6% -24% 4.7 5.5 4.7 4.4 4.2 126.8 3.8 118.0 72.8 Q3-24 Q2-25 Q3-25 Q3-24 Q2-25 Q3-25 Lifting cost per boe Total production (Mboe/d) ▪ Interannual decrease of selling expenses per boe driven b
Slide 8: Strong sequential and interannual growth in Adj. EBITDA
08 Strong sequential and interannual growth in Adj. EBITDA ADJ. EBITDA ADJ. EBITDA MARGIN NETBACK $MM % $/boe +52% +2 p.p. +17% 472 65% 66% 67% 46.3 405 40.5 37.7 310 68.4 64.6 62.2 Q3-24 Q2-25 Q3-25 Q3-24 Q2-25 Q3-25 Q3-24 Q2-25 Q3-25 Adj. EBITDA margin Realized crude oil price ($/bbl) ▪ Adj. EBITD
Slide 9: Adj. EBITDA drove increase in operating cash flow
09 Adj. EBITDA drove increase in operating cash flow 9 Q3 2025 CASH FLOW EVOLUTION $MM 304 195 320 154 (333) Beginning of period Operating activities Investing activities Financing activities End of period cash position cash flow cash flow cash flow (1) cash position ▪ Operating activities cash flow
Slide 10: Closing remarks
10 Closing remarks Robust productivity of Material increase in Well on track to potentially new wells across all Adj. EBITDA driven by overdeliver production and our blocks production growth Adj. EBITDA 2025 guidance
Slide 11: THANKS! Q&A
VISTA ENERGY FOR TOMORROW THANKS! Q&A
Slide 12: Glossary
12 Glossary ▪ $: U.S. Dollars ▪ Lifting cost includes production, transportation, treatment and field support services; ▪ $MM: Million U.S. Dollars excludes crude oil stock fluctuations, depreciation, depletion and amortization, ▪ $Bn: Billion U.S. Dollars royalties and others, selling expenses, exp
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