Pampa Energia Sa · BCBA:PAMP
Pampa Energia Sa — Pampa Energy — Q2 2026 Earnings Presentation
13 slides from Pampa Energia Sa's earnings presentation, Aug 11, 2026
Slide 1: Results Call
@2 a026° RESULTS CALL August 5, 2026 @ 10 AM EST/11 AM ART Pampa
Slide 2: Disclaimer
DISCLAIMER Ble 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
Slide 3: Urea: A Critical Fertilizer for Food Security Supported by Vaca Muerta
UREA: A CRITICAL FERTILIZER FOR FOOD SECURITY SUPPORTED BY VACA MUERTA 0.6 MTPA Bi, . ode . FeAl > 7.7 MTPA = eb 1.5 MTPA 2= “we e os nTPA © 0.6/MTPA on? SOUTH CONE | UUU TOTAL DEFICIT 12 MTPA LatAm’s high demand, imports from distant & geopolitically unstable regions VM is the world’s #2 shale gas
Slide 4: Urea: Project's Footprint & KPIs
UREA: PROJECT’s FOOTPRINT & KPIs GENERATION fees, EXPORTS DOMESTIC ‘WS EMARKET -Pampa Fertil Pampa to become the largest urea plant in LatAm 2.1 MTPA of total capacity of granular urea 3.3 mcmpd of gas consumption -70% of 75 MW urea COGS of power consumption US$2.7b COD scheduled YE 2029 Next steps
Slide 5: Pampa Is Participating in RIGI Projects
‘Pampa PAMPA IS PARTICIPATING IN 7 RIG] PROJECTS ene USS$30B PRESENTED 20% OF TOTAL RIGI PROJECTS ber E> BL GH He GH % Pampa VMOS OIL PIPELINE 9% SESA 20% —, ream, TGS NGL PROJECT oe Project 550 kbpd oil export pipeline 6 MTPA FLNG +14 mempd 27 mcmpd 45 kbpd at plateau 2.1 MTPA urea plant 2.8 MTPA 5
Slide 6: Q2 2026's Key Takeaways
Q2 2026'S KEY TAKEAWAYS Pampa CONSOLIDATED FIGURES, IN USS MILLION Main highlights “1 O&G ATH quarterly production @ 107.5 kbpd, driven by gas vertical integration with power “I Power growth reflected by winter spot prices and B2B PPA sales “I International prices pushed petchem margins “J Retap 203
Slide 7: Oil and Gas
OIL AND GAS RDA & GAS SELF-SUPPLY BOOSTED EBITDA Adjusted EBITDA, in US$ million EBITDA margin 182 87 104 = Ty Q2 25 Q1 26 Q2 26 Lifting cost, in US$ million Per boe 75 58 56 7 = 6.1 LS Q2 25 Q126 = Q2. 26 +109% yoy +74% goq YRDA ¥ Gas self-supply * Oil hedge Per boe +2% yoy +25% gog *RDA's TPF #2 ¥
Slide 8: Rincon de Aranda
RINCON DE ARANDA ON TRACK AND RIG! APPLICATION APPROVED Promising results in our wells 2 high-spec rigs Average production per horizontal well!, in bpd Nearby blocks 1 frac fleet 11 pads/43 wells online 1.200 2 pads/10 wells testing Rincon de 2 DUC 800 Aranda RIGI BENEFITS joo applicable for 30 year
Slide 9: Natural Gas
NATURAL GAS MONETIZING THE VERTICAL INTEGRATION WITH POWER Gas production, in mcmpd Weighted avg gas price for Pampa, in US$/MBTU 4.6 14.3 +10% yoy 4.4 13.8 +4% goq 12.9 ¥Self-supply % Plan Gas GSA & Industries 3.0 3.0 2025+ 3.7 2.9 Winter 2026 = 3.8 Q2 25 Q126 =z 26 Ql Q2 03 04 Destination of our g
Slide 10: Power Generation
POWER GENERATION THE NEW SPOT FRAMEWORK BOOSTED THE SEGMENT Adjusted EBITDA’, in US$ million Generation performance, in GWh —B-EBITDA margin +39% yoy 144, 155586 G09 5,738 5 363 seo” 4,704 7% ist 112 ¥ Spat seasonality ’ o% Ba a Hydro 6% Sina YCTEB upgrade in 2025 56% ‘Energia Plus F eaapetan XCTLL’
Slide 11: FCF Impacted by RDA Capex and WK Seasonality
FCF IMPACTED BY RDA CAPEX AND WK SEASONALITY Pampa AS EXPECTED — Key cash flow figures for the Parent Company, in US$ million Q2 26 FCF = US$(128) million 2037 Notes +US$402m yoy +US$179m yoy, +US$275m qoq CB Series 27 +US$604m goq | | Ti u 1,281 Higher seasonal sales Unrealized hedge loss 327 Colla
Slide 12: Solid Balance Sheet to Support More Growth
SOLID BALANCE SHEET TO SUPPORT MORE GROWTH Pemps Key leverage figures! as of June 2026, in US$ million Leverage evolution Consolidated with Epi Coombe affiliates at O/S? =OmNet leverage =O-Gross leverage 3.0x Debt? 2,600 2,994 2.6x 2.7X Cash & equiv. 1,281 1,752 21x 2.2x Net debt 1,319 1,242 LTM Adj
Slide 13: Thank You
THANK You” 4 : NErgia -