Ypf Sa Class D · BCBA:YPFD
Ypf Sa Class D — Investor Day (April 2025)
43 slides from Ypf Sa Class D's investor day presentation, Apr 11, 2025
Slide 1: YPF IR Day, April 11, 2025
APRIL 11, 2025 Documento: YPF-Privado
Slide 2: Disclaimer and Forward-Looking Statements
YPF IR DAY 2025 / DISCLAIMER AND FORWARD-LOOKING STATEMENTS Additional information about YPF S.A., a sociedad anónima organized under the laws of Argentina (the “Company” or “YPF”) can be found in the “Investors” section on the website at www.ypf.com. This presentation does not constitute an offer t
Slide 3: IR Day Agenda
IR DAY APRIL 11, 2025 SPEAKER 9:30 to 10:30 PRESENTATION 01. COMPANY OVERVIEW 02. ARGENTINA MACRO 03. VACA MUERTA 04. YPF 4X4 05. 2025 GUIDANCE HORACIO 06. 5-YEAR OUTLOOK MARIN 07. FINAL REMARKS CHAIRMAN & CEO 10:30 to 11:30 Q&A Documento: YPF-Privado
Slide 4: Company Overview
IR DAY APRIL 11, 2025 9:30 to 10:30 PRESENTATION 01. COMPANY OVERVIEW 02. ARGENTINA MACRO 03. VACA MUERTA 04. YPF 4X4 05. 2025 GUIDANCE 06. 5-YEAR OUTLOOK 07. FINAL REMARKS 10:30 to 11:30 Q&A Documento: YPF-Privado
Slide 5: Company Overview: Results Driven Management
YPF IR DAY 2025 / COMPANY OVERVIEW RESULTS DRIVEN UPSTREAM MAIN GOAL VERY FOCUSED MANAGEMENT PURE SHALE EFFICIENCY FOCUS ON PROFITABILITY COMPANY PROGRAM & VALUE CREATION FOR NEW PRODUCTION MATRIX RTIC / TOYOTA WELL / SHAREHOLDERS TIER 1 REFINERIES ARGENTINE MONETIZATION NEW ENERGIES NORMALIZATION O
Slide 6: Fully Integrated Leading Energy Company in Argentina
YPF IR DAY 2025 / COMPANY OVERVIEW FULLY INTEGRATED LEADING ENERGY COMPANY IN ARGENTINA O&G EXPORT UPSTREAM DOWNSTREAM PROJECTS 2024 2024 OIL PRODUCTION REFINING CAPACITY 120 KBBL/D IN VMOS 257 KBBL/D +300 KBBL/D (INITIAL SHIPPING STAKE) 10.5 1.5 48% SHALE 50% OF ARGENTINA (2024) 2024 +25% REVENUES
Slide 7: Argentina Macro
IR DAY APRIL 11, 2025 9:30 to 10:30 PRESENTATION 01. COMPANY OVERVIEW 02. ARGENTINA MACRO 03. VACA MUERTA 04. YPF 4X4 05. 2025 GUIDANCE 06. 5-YEAR OUTLOOK 07. FINAL REMARKS 10:30 to 11:30 Q&A Documento: YPF-Privado
Slide 8: Argentina Macro: YPF Stock Price More Than Tripled in a Year
YPF IR DAY 2025 / ARGENTINA MACRO 01. SUCCESSFUL ECONOMIC PROGRAM YPF’S STOCK PRICE 02. YPF 4X4 MORE THAN TRIPLED MAIN DRIVERS 03. MAJOR CHANGE IN MANAGEMENT AND OBJECTIVES IN A YEAR 04. COMMUNICATION HEADLINE INFLATION MOM [%] - 2023-25 YPF STOCK PRICE. 2005-25 (USD) 30% 80 25% 25.5% 20% 70 15% 60
Slide 9: O&G Production Growth Has Reverted Energy Balance Deficit
YPF IR DAY 2025 / ARGENTINA MACRO OIL AND GAS PRODUCTION ENERGY EXPORTS. AND FORECAST 2030+ ARGENTINA AND YPF NET O&G GAS PRODUCTION MBOE/D BUSD ARGENTINA OIL YPF NET (RIGHT AXIS) GROWTH HAS REVERTED ENERGY 4.0 45 12 FORECAST FORECAST BALANCE DEFICIT. 3.5 40 10 USD ~40 B EXPORTS 3.0 35 RECORD ARE EX
Slide 10: Vaca Muerta
IR DAY APRIL 11, 2025 9:30 to 10:30 PRESENTATION 01. COMPANY OVERVIEW 02. ARGENTINA MACRO 03. VACA MUERTA 04. YPF 4X4 05. 2025 GUIDANCE 06. 5-YEAR OUTLOOK 07. FINAL REMARKS 10:30 to 11:30 Q&A Documento: YPF-Privado
Slide 11: Vaca Muerta Outstanding Productivity
YPF IR DAY 2025 ESTIMATED ULTIMATE RECOVERY (OIL) ESTIMATED ULTIMATE RECOVERY (GAS) DESPITE EARLY BARRELS MILLION CUBIC FEET STAGE OF PERMIAN MIDLAND DEVELOPMENT, PERMIAN DELAWARE NEW MEXICO VACA MUERTA PERMIAN DELAWARE TEXAS EAGLE FORD PROVED EAGLE FORD OUTSTANDING HAYNESVILLE PRODUCTIVITY BAKKEN M
Slide 12: The Largest Holder of Inventory in Vaca Muerta
YPF IR DAY 2025 / VACA MUERTA OPERATOR YPF OIL CORE-HUB (1) USD/BBL YPF OIL WELLS IN NON-OPERATOR VACA MUERTA (2) EXPLORATION DEVELOPMENT COST LIFTING COST PEAK IP 60&90 (KBBL/D) 1.3 – 2.0 19.7 41% CONDENSATE EUR (MBBL) 1.2 – 1.6 11.6 10.6 60% LATERAL LENGTH OIL WINDOW (METERS) ~ 3,000 GAS WINDOW 4.
Slide 13: YPF 4x4
IR DAY APRIL 11, 2025 9:30 to 10:30 PRESENTATION 01. COMPANY OVERVIEW 02. ARGENTINA MACRO 03. VACA MUERTA 04. YPF 4X4 05. 2025 GUIDANCE 06. 5-YEAR OUTLOOK 07. FINAL REMARKS 10:30 to 11:30 Q&A Documento: YPF-Privado
Slide 14: 4x4 Focus on Our Most Profitable Business
YPF IR DAY 2025 STRATEGIC PILLARS 4X4 01 02 03 04 FOCUS ON ACTIVE MAXIMIZE ARGENTINA OUR MOST PORTFOLIO UPSTREAM AND LNG PROJECT PROFITABLE MANAGEMENT DOWNSTREAM BUSINESS EFFICIENCY VACA MUERTA SHORT TERM SHORT AND SHORT AND MEDIUM AND MEDIUM TERM MEDIUM TERM LONG TERM Documento: YPF-Privado
Slide 15: 4x4 Strategic Pillars / Achievements So Far
YPF IR DAY 2025 4X4 STRATEGIC PILLARS / ACHIEVEMENTS SO FAR 01 02 03 04 FOCUS ON OUR MOST ACTIVE PORTFOLIO MAXIMIZE UPSTREAM ARGENTINA PROFITABLE BUSINESS MANAGEMENT AND DOWNSTREAM LNG PROJECT VACA MUERTA EFFICIENCY #1 SHALE OIL EXIT MATURE FIELDS RTIC TOLLING SYSTEM PRODUCER + BRAZIL & CHILE AFFILI
Slide 16: 4x4 Pillar: Focus on Vaca Muerta
YPF IR DAY 2025 4X4 STRATEGIC PILLARS / 5-YEAR PLAN 01 02 03 04 FOCUS ON ACTIVE MAXIMIZE ARGENTINA OUR MOST PORTFOLIO UPSTREAM AND LNG PROJECT PROFITABLE MANAGEMENT DOWNSTREAM BUSINESS EFFICIENCY VACA MUERTA SHORT TERM SHORT AND SHORT AND MEDIUM AND MEDIUM TERM MEDIUM TERM LONG TERM Documento: YPF-P
Slide 17: Making Progress in Midstream Oil Expansion Projects
YPF IR DAY 2025 / YPF 4X4 LUJAN DE CUYO MAKING PROGRESS IN MIDSTREAM REFINERY OIL EXPANSION PROJECTS CAPACITY: ~115 KBBL/D YPF OIL PIPELINE LA PLATA VMOS TRANSANDEAN REFINERIES OLDELVAL REFINERY MENDOZA CAPACITY: ~190 KBBL/D NEUQUINA BASIN’S OIL MIDSTREAM LA PAMPA ESTIMATED CAPACITY EVOLUTION (1) BU
Slide 18: 5-Y Plan: Shale Oil Net Production
YPF IR DAY 2025 SHALE OIL NET PRODUCTION WELL OPERATOR 470 INVENTORY(1) NON-OPERATOR SHALE OIL KBBL/D 5-Y PLAN 445 NORTH HUB EXPLORATION OTHERS CONDENSATE NORTH HUB 6.4 K SOUTH HUB 375 16% CORE HUB NON- OIL WINDOW 7% 290 OPERATED GAS WINDOW 18% 3.7K 215 9% 165 20% 12% CORE HUB 5.4 K Note: Company be
Slide 19: 4x4 Pillar: Active Portfolio Management
YPF IR DAY 2025 4X4 STRATEGIC PILLARS / 5-YEAR PLAN 01 02 03 04 FOCUS ON ACTIVE MAXIMIZE ARGENTINA OUR MOST PORTFOLIO UPSTREAM AND LNG PROJECT PROFITABLE MANAGEMENT DOWNSTREAM BUSINESS EFFICIENCY VACA MUERTA SHORT TERM SHORT AND SHORT AND MEDIUM AND MEDIUM TERM MEDIUM TERM LONG TERM Documento: YPF-P
Slide 20: Mature Fields Exit Program
YPF IR DAY 2025 / YPF 4X4 MENDOZA RÍO NEGRO EXIT PROGRAM MENDOZA MENDOZA MATURE FIELDS SEÑAL PICADA – ESTACIÓN NORTH SOUTH PUNTA BARDA FERNANDEZ ORO MENDOZA RÍO NEGRO 6 BLOCKS + NEUQUÉN 6 BLOCKS + NEUQUÉN 1 BLOCK 1 BLOCK LLANCANELO 2 BLOCKS CHUBUT EL TREBOL – C. CENTRAL – NEUQUÉN ESCALANTE C. PERDID
Slide 21: Without Precedents in Argentina
YPF IR DAY 2025 / YPF 4X4 2024 LIFTING COST USD/BOE EXIT PROGRAM PROCESS MATURE FIELDS WITHOUT WITH MATURE FIELDS WITHOUT MATURE FIELDS PURE SHALE PRECEDENTS ~50% CONV. ~50% SHALE ~30% CONV. ~70% SHALE 100% SHALE IN ARGENTINA ~28 ~16 ~17 ~9 ~5 ~5 ~5 CONV. SHALE TOTAL CONV. SHALE TOTAL TOTAL CAPEX CA
Slide 22: 4x4 Pillar: Maximize Upstream and Downstream Efficiency
YPF IR DAY 2025 4X4 STRATEGIC PILLARS / 5-YEAR PLAN 01 02 03 04 FOCUS ON ACTIVE MAXIMIZE ARGENTINA OUR MOST PORTFOLIO UPSTREAM AND LNG PROJECT PROFITABLE MANAGEMENT DOWNSTREAM BUSINESS EFFICIENCY VACA MUERTA SHORT TERM SHORT AND SHORT AND MEDIUM AND MEDIUM TERM MEDIUM TERM LONG TERM Documento: YPF-P
Slide 23: RTIC: Real Time Intelligence Center
YPF IR DAY 2025 / YPF 4X4 RTIC REAL TIME INTELLIGENCE CENTER HIGHLY EFFICIENT OPERATIONS REAL TIME AGILE DECISIONS CENTRALIZATION Documento: YPF-Privado
Slide 24: Upstream Efficiency Challenge
YPF IR DAY 2025 / YPF 4X4 MAIN TOYOTA WELL(1) UPSTREAM ENABLERS RESULTS EFFICIENCY LEAD TIME LEAD TIME WELL CHALLENGE 312 DAYS PER PAD OF 4 WELLS 215 PRODUCTION LINE 170 (2023 – 2029) RTIC 2023 2025E 2029E 45.5% TOYOTA WELL RTIC DRILLING SPEED (2) 439 BEST 40 272 360 METERS/DAY STANDARDS CORE-HUB 20
Slide 25: Downstream Efficiency Challenge
YPF IR DAY 2025 / YPF 4X4 DOWNSTREAM BY 2024 BY 2027 EFFICIENCY CHALLENGE ~40% +90% TOYOTA REFINERY 266 MUSD RECURRING + 139 MUSD ~6 NON-RECURRING 2.4 USD/BBL ~ 800 MUSD USD/BBL ASPIRATIONAL RECURRING 2024-2029 RECURRING 2024 2025 2026 2027 2028 2029 SOLOMON’S EVOLUTION TO WORLD CLASS REFINING BENCH
Slide 26: 4x4 Pillar: Argentina LNG Project
YPF IR DAY 2025 4X4 STRATEGIC PILLARS / 5-YEAR PLAN 01 02 03 04 FOCUS ON ACTIVE MAXIMIZE ARGENTINA OUR MOST PORTFOLIO UPSTREAM AND LNG PROJECT PROFITABLE MANAGEMENT DOWNSTREAM BUSINESS EFFICIENCY VACA MUERTA SHORT TERM SHORT AND SHORT AND MEDIUM AND MEDIUM TERM MEDIUM TERM LONG TERM Documento: YPF-P
Slide 27: Argentina LNG: ~28 MTPA to ~50 MTPA
YPF IR DAY 2025 / YPF 4X4 ARGENTINA TOLLING SYSTEM NEW BUILDS LNG TOTAL CAPACITY ARGENTINA LNG 1 ARGENTINA LNG 2 ARGENTINA LNG 3 ~28 MTPA MTPA MTPA MTPA POTENTIAL ~6 (2027-2028) ~10 (2029-2030) ~12 (2028-2029) OFFTAKE(1) 2 FLOATING UNITS SHELL STRATEGIC PARTNER ENI STRATEGIC PARTNER ~50 MTPA 3 SUPER
Slide 28: 5-Y Plan: Shale Gas Net Production
YPF IR DAY SHALE GAS NET PRODUCTION WELL OPERATOR INVENTORY(1) NON-OPERATOR SHALE GAS MM3/D 65 EXPLORATION 5-Y PLAN CONDENSATE FEED GAS LNG 8.8 K REGIONAL EXPORT 49 LOCAL 45 OIL WINDOW GAS WINDOW 30 NON- 70% 5.1 K 28 OPERATED 20 26 Note: Company best estimates 55% to facilitate its activity outlook
Slide 29: 2025 Guidance
IR DAY APRIL 11, 2025 9:30 to 10:30 PRESENTATION 01. COMPANY OVERVIEW 02. ARGENTINA MACRO 03. VACA MUERTA 04. YPF 4X4 05. 2025 GUIDANCE 06. 5-YEAR OUTLOOK 07. FINAL REMARKS 10:30 to 11:30 Q&A Documento: YPF-Privado
Slide 30: Guidance 2025
YPF IR DAY 2025 GUIDANCE 2025 CAPEX SHALE OIL PRODUCTION ~190 US$ BILLION KBBL / DAY @DEC-25 5.0 5.0 – 5.2 ~66% SHALE 122 160+ 2025 FORMER 165+ 2025 UPDATED 2024 FY 2025 GUIDANCE 2024 FY GUIDANCE GUIDANCE ADJ. EBITDA US$ BILLION 72.5 US$/BBL BRENT NET LEVERAGE RATIO NET DEBT / EBITDA 4.7 2024 FY 5.2
Slide 31: YPF Resilience in Uncertain Times
YPF IR DAY 2025 International notes due 2025 KEY FINANCIAL PRINCIPAL AMORTIZATION PROFILE DEBT MATURITY PROFILE Already paid notes DEBT METRICS MUSD YPF New local bonds RESILIANCE 2,091 New XXXIV Notes Other international debt 4.0 y 6.4% IN UNCERTAIN ’24 ’24 WEIGHTED 1,802 204 Other local debt WEIGH
Slide 32: 5-Year Outlook
IR DAY APRIL 11, 2025 9:30 to 10:30 PRESENTATION 01. COMPANY OVERVIEW 02. ARGENTINA MACRO 03. VACA MUERTA 04. YPF 4X4 05. 2025 GUIDANCE 06. 5-YEAR OUTLOOK 07. FINAL REMARKS 10:30 to 11:30 Q&A Documento: YPF-Privado
Slide 33: Gross Production Outlook: Positioning as Pure Shale Player
YPF IR DAY 2025 Documento: YPF-Público GROSS PRODUCTION OUTLOOK POSITIONING AS PURE SHALE PLAYER OIL (GROSS) GAS (GROSS) TOTAL HYDROCARBON PRODUCTION (GROSS) KBBL/D MM3/D 820 KBOE/D 2,085 CONVENTIONAL LNG 174 NGL SHALE (VM) 770 CONVENTIONAL GAS 1,780 170 645 SHALE (VM) 136 OIL 1,560 155 127 115 525
Slide 34: Net Production Outlook: Positioning as Pure Shale Player
YPF IR DAY 2025 Documento: YPF-Público NET PRODUCTION OUTLOOK POSITIONING AS PURE SHALE PLAYER OIL PRODUCTION KBBL/D GAS PRODUCTION MM3/D TOTAL HYDROCARBON PRODUCTION 14% 14% 19% 25% 39% 45% 48% 5% 6% 7% 8% 29% 31% 40% KBOE/D OIL EXPORT (%) NGL 1,000 GAS EXPORT (%) 475 70 GAS 865 CONVENTIONAL LNG 45
Slide 35: YPF 5-Y Capex & Opex
YPF IR DAY 2025 CAPEX (1) Feed Gas LNG Other LIFTING & OPEX LIFTING COST UP (USD/BOE) Downstream Upstream OPEX DW (2) (USD/BBL) YPF 5-Y BUSD CAPEX & OPEX 6.8 6.4 6.5 0.9 12 5.6 1.0 0.8 5.4 6 5.0 5 5 5 5 0.5 0.7 0.7 0.8 0.7 0.9 0.5 2025E 2026E 2027E 2028E 2029E 2030E 4.6 5.2 4.5 4.5 4.1 3.6 20 20 19
Slide 36: YPF 5-Y & Pro-Forma Financials
YPF IR DAY 2025 YPF BASE CASE: SHALE OIL PLAY BUSD 11.0 11.1 YPF 5-Y & EBITDA & CAPEX PRO-FORMA 9.4 FINANCIALS 7.8 EBITDA 6.2 5.9 5.3 5.0 5.5 5.4 5.6 CAPEX 4.7 FCF 2025E EBITDA CAPEX 2026E EBITDA CAPEX 2027E EBITDA CAPEX 2028E EBITDA CAPEX 2029E EBITDA CAPEX … PRO- EBITDA CAPEX BRENT 5Y … FORMA 2025
Slide 37: Brent Sensitivity Analysis
YPF IR DAY 2025 YPF BASE CASE: SHALE OIL PLAY BUSD 12.3 BRENT EBITDA & CAPEX 10.6 11.0 5-Y BRENT SENSITIVITY 9.4 9.6 SENSITIVITY ANALYSIS 8.8 8.3 IN USD/BBL 7.8 8.2 7.0 6.9 7.1 BRENT 80 VACA MUERTA 5.9 5.9 6.2 5.5 5.9 5.4 5.6 RESILIENCY 5.3 5.0 5.4 BRENT 70 4.4 4.6 BRENT 60 NO CHANGE IN 3.6 CAPEX PR
Slide 38: YPF 5-Y & Pro-Forma Financials: LNG
YPF IR DAY 2025 YPF LNG BUSD YPF 5-Y & 5 RIGI PRO-FORMA FUNDAMENTALS SUPER MAJOR PARTNERS FINANCIALS FIRST CLASS OFFTAKERS VACA MUERTA ACRES QUALITY, EBITDA COMPETITIVENESS & MATERIALITY CAPEX FCF 70% PROJECT FINANCE EBITDA & CAPEX EBITDA & CAPEX IS UPSTREAM LNG 1.0 0.9 1.0 ~7.5 USD/MBTU 0.1 0.4 0.8
Slide 39: YPF Pro-Forma: Shale Oil Play & LNG
YPF IR DAY 2025 YPF PROFORMA: SHALE OIL PLAY & LNG BUSD 12.1 11.4 YPF 5-Y & EBITDA & CAPEX 9.9 PRO-FORMA FINANCIALS 7.8 6.4 6.5 6.8 EBITDA 6.2 5.3 5.0 5.6 5.2 CAPEX FCF 2025E EBITDA CAPEX 2026E EBITDA CAPEX 2027E EBITDA CAPEX 2028E EBITDA CAPEX 2029E EBITDA CAPEX … PRO- EBITDA CAPEX BRENT 5Y … FORMA
Slide 40: Final Remarks
IR DAY APRIL 11, 2025 9:30 to 10:30 PRESENTATION 01. COMPANY OVERVIEW 02. ARGENTINA MACRO 03. VACA MUERTA 04. YPF 4X4 05. 2025 GUIDANCE 06. 5-YEAR OUTLOOK 07. FINAL REMARKS 10:30 to 11:30 Q&A Documento: YPF-Privado
Slide 41: Final Remarks
YPF IR DAY 2025 / FINAL REMARKS TOP 10 SHALE PLAYER WORLDWIDE INTEGRATED WORLD-CLASS #1 EXPORTER SUSTAINABLE UNCONVENTIONAL DOWNSTREAM OF ARGENTINA LONG-TERM COMPANY PERFORMER POSITIVE FCF VOLUME MARKET LEADER GENERATOR & EFFICIENCIES & TIER 1 REFINERIES DIVIDEND PAYER 2028+ WHILE PREPARING THE COMP
Slide 42: Question & Answers
IR DAY QUESTION & ANSWERS Documento: YPF-Privado
Slide 43: Documento: YPF-Privado
Documento: YPF-Privado