Pampa Energia Sa · BCBA:PAMP
Pampa Energia Sa — Q4 2021 Earnings Presentation
22 slides from Pampa Energia Sa's earnings presentation, December 2021
Slide 1: Q4 2021 results videoconference
Q4 2021 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: Plan Gas.Ar procures a solid outlook to E&P
Plan Gas.Ar procures a solid outlook to E&P Third round award increases our production horizon Production growth at Neuquina Basin, 2021-2024 minimum committed gas production vs 2020, in million m3/day Winter 2020 vs 20221 1 1. Pampa +56% 9.3 9.9 Annual average 8.0 6.9 Total gas production @ WI, in
Slide 4: Transport.Ar Program: Néstor Kirchner pipeline
Transport.Ar Program: Néstor Kirchner pipeline To solve transportation bottleneck at Neuquina Basin Gas transportation @ Neuquina basin In mcm/day '24 winter capacity '24 summer capacity '23 winter capacity '21 capacity 2021 Pampa Energía ⚫ 4
Slide 5: 2021 main highlights
2021 main highlights Key financial figures, in US$ million Revenues1 Adjusted EBITDA1 2,029 +38% yoy 905 +30% yoy 1,759 758 698 1,473 ✓ ✓ ✓ ✓ ✓ ✓ 2021 2021 Capex1,2 Adjusted EBITDA breakdown1,3 600 547 47% 2% 500 +93% yoy 400 379 28% % 300 ✓ 200 197 ✓ 5% 51% 14% 53% 100 0 2021 Pampa Ener
Slide 6: Q4 2021's key takeaways
Q4 2021’s key takeaways - consolidated figures, in US$ million Another solid quarter, boosted by Plan Gas and operating performance Revenues1 Consolidated adjusted EBITDA1 577 557 +46% yoy 262 +8% yoy -4% qoq -24% qoq 184 199 ✓ 381 ✓ ✓ ✓ ✓ ✓ ✓ 48% 45% 36% Q4 21 Q4 21 Capex1 Consolidated ad
Slide 7: Power generation
Power generation A resilient business that anchors our performance Adjusted EBITDA1, in US$ million Generation performance, in GWh 121 126 -13% yoy 4,400 4,512 4,670 +6% yoy -16% qoq +3% qoq 105 ✓ ✓ 69% 63% 58% ✓ Q4 21 Q4 21 Availability performance, in % to installed capacity ✓ 94.2% 95.0% 95
Slide 8: Ensenada Barragán Thermal Power Plant
Ensenada Barragán Thermal Power Plant Key infrastructure project for Argentina’s electricity supply Aerial view of CTEB Pampa Energía ⚫ 8
Slide 9: PEPE III Wind Farm expansion
PEPE III Wind Farm expansion Growing our green energy contribution Aerial view of PEPE III Pampa Energía ⚫ 9
Slide 10: Oil and gas
Oil and gas Higher prices and record production delivered exceptional performance Adjusted EBITDA1, in US$ million Lifting cost, in US$ million +71% yoy 104 42 +32% qoq 32 7.8 +146% yoy 24 -56% qoq ✓ 59% 46 6.0 ✓ 6.0 19 ✓ 27% 37% Q4 21 Q4 21 Production performance, in kboe/d Crude oil sales, in
Slide 11: Oil and gas: Plan Gas is paving the recovery way
Oil and gas Plan Gas is paving the recovery way for domestic production Gas sales, in mcmpd Weighted avg gas price for Pampa, in US$/MBTU +32% yoy 4.4 -3% qoq 3.9 9.2 9.0 3.3 2021 3.1 6.8 ✓ 3.1 3.1 2.6 ✓ ✓ ✓ Q4 21 Q4 Destination of our sales Pampa Pampa Energía ⚫ 11
Slide 12: 2021 Reserves
2021 Reserves Growth driven by Plan Gas and outstanding productivity 8% ND 39% % Dev'd 61% 92% El Mangrullo Block Pampa Energía ⚫ 12
Slide 13: Petrochemicals
Petrochemicals Higher costs linked to int’l prices offset by higher local demand and sales price Adj. EBITDA, in US$ million Sales performance, in thousand ton 1,266 10 -11% yoy 129 9 +28% qoq 107 114 +6% yoy -12% qoq 7 ✓ ✓ ✓ 12% 5% 6% ✓ Q4 21 Q4 21 Q4 21 sales breakdown by market 41% % 59% Pamp
Slide 14: Q4 financial position
Q4 21 financial position Cash generation from solid operating performance Key cash flow figures for the Restricted Group, US$ million +US$107m yoy Q4 21 FCF = US$47 million +US$66m qoq -US$37m yoy, -US$61m qoq Pampa Energía ⚫ 14
Slide 15: Strong financial position
Strong financial position Paying out ST debt and improving leverage ratios Key leverage figures, as of December 31, 20211, US$ million Consolidated with Restricted Group Affiliates at ownership3 affiliates at ownership Debt2 1,439 339 1,778 After Q4 2021: Cash 573 101 674 • • Net debt 866 238 1,104
Slide 16: pampaenergia.com
pampaenergia.com - (in) (Ff) © “ energia
Slide 17: Q4 2021's key takeaways
Q4 2021’s key takeaways Consolidated figures, in US$ million Q4 21 Net income to shareholders Q4 20 Q4 21 Pampa Energía ⚫ 17
Slide 18: Holding & others
Holding & others Adj. EBITDA2, in US$ million +13% yoy +55% qoq 39 34 25 Q4 21 Affiliates’ EBITDA Performance @ 100% Ownership, in US$ million 133 19 3 3 15 91 87 ✓ 8 ✓ ✓ ✓ (0) Q4 21 Q4 21 Q4 21 Pampa Energía ⚫ 18
Slide 19: Collection days from CAMMESA
Collection days from CAMMESA Evolution of delays 75 58 58 55 55 37 35 30 24 18 15 13 0 0 -5 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Pampa Energía ⚫ 19
Slide 20: Plan Gas.Ar aims to recover gas upstream back to 2020 levels
Plan Gas.Ar aims to recover gas upstream back to 2020 levels Evolution of domestic gas production, in mcm/bcf per day Imports as % 130/4.6 of total gas demand 120/4.2 2021 23% 15% 110/3.9 28% 19% 100/3.5 Argentine gas supply 90/3.2 as of Dec 2021 +3% yoy 80/2.8 Jan Feb Mar Apr May Jun Jul Ju
Slide 21: 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 19.8 16.1 15.0 14.6 12.3 11.1 9.8 9.4 8.7 7.3 5.0 2.5 1.6 Argentina’s nominal GDP 199 233 288 362 333 424 531 583 613 568 642 557 643 525 452 389 451 Pampa Energía ⚫ 21
Slide 22: Cost of imports, in US$ million
Cost of imports, in US$ million Accumulated @ 2008-15: 36.5b 8,153 7,458 7,105 5,865 4,477 Accumulated @ 2016-19: 10.3b 3,315 3,132 2,837 2,524 2,338 1,774 1,293 530 623 Pampa Energía ⚫ 22