Vista Energy Sab De Cv Class A · BMV:VISTA/A
Vista Energy Sab De Cv Class A — Q4 2025 Earnings Presentation
14 slides from Vista Energy Sab De Cv Class A's earnings presentation, Feb 26, 2026
Slide 1: Fourth Quarter and Full Year 2025 Earnings Webcast
Fourth Quarter and Full Year 2025 Earnings Webcast February 26, 2026
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: Robust operational and financial performance
03 Robust operational and financial performance Q4 2025 HIGHLIGHTS Production Oil Production Revenues (1) Lifting Cost CAPEX 135 Mboe/d 118 Mbbl/d 689 $MM 4.1$/boe 355 $MM 59% y-o-y 61% y-o-y 46% y-o-y -12% y-o-y 4% y-o-y 7% q-o-q 8% q-o-q -2% q-o-q -8% q-o-q 1% q-o-q Adj. EBITDA Adj. Net Income Adj
Slide 4: Strong sequential and interannual production growth
04 Strong sequential and interannual production growth Production (1) Oil production Natural gas production Mboe/d Mbbl/d MMm3/d +59% +45% +61% +7% +8% -1% 118.3 2.65 2.62 135.4 109.7 126.8 73.5 1.81 85.3 Q4-24 Q3-25 Q4-25 Q4-24 Q3-25 Q4-25 Q4-24 Q3-25 Q4-25 ✓ Total production increased 7% sequentia
Slide 5: Robust y-o-y revenue growth despite lower oil prices
05 Robust y-o-y revenue growth despite lower oil prices Revenues (1) (2) Avg. realized oil price (2) $MM $/bbl +46% -12% -2% -9% 706 689 67.1 64.6 58.9 471 Q4-24 Q3-25 Q4-25 Q4-24 Q3-25 Q4-25 3.6 6.3 7.1 % of oil in total 96% 96% 97% Oil exports (MMbbl) net revenues As % of oil sales Avg. realized n
Slide 6: Continuing to deliver efficiency gains
06 Continuing to deliver efficiency gains Lifting cost per boe (1) Selling expenses per boe (2) $/boe $/boe -12% -48% 8.0 4.7 4.4 4.1 4.2 4.2 126.8 135.4 85.3 Q4-24 Q3-25 Q4-25 Q4-24 Q3-25 Q4-25 Lifting cost per boe Total production (Mboe/d) ✓ Sequential and interannual decrease in lifting cost ✓ In
Slide 7: Strong interannual growth in Adj. EBITDA
07 Strong interannual growth in Adj. EBITDA Adj. EBITDA Adj. EBITDA Margin (1) Netback $MM % $/boe +62% +8 p.p. 67% 40.5 472 64% 444 57% 34.8 35.6 273 67.1 64.6 58.9 Q4-24 Q3-25 Q4-25 Q4-24 Q3-25 Q4-25 Q4-24 Q3-25 Q4-25 Adj. EBITDA margin Avg. realized oil price ($/bbl) ✓ Adj. EBITDA increased 62% y
Slide 8: Positive FCF in 2H-25 in line with guidance
08 Positive FCF in 2H-25 in line with guidance Q4 2025 cash flow evolution Free cash flow $MM $MM 47 $MM 900 2H-25 FCF 800 435 700 76 600 143 538 57 500 400 320 (360) 300 200 100 -,- Beginning of Operating Investing activities Financing End of period period cash activities cash cash flow activities
Slide 9: Full year 2025 highlights
09 Full year 2025 highlights Largest independent oil producer and largest oil exporter of Argentina Increased P1 RESERVES WELL INVENTORY TIE-INS P1 reserves and 588 MMboe 1,653 wells 74 net wells well inventory 605% implied RRR +503 wells y-o-y +48% y-o-y Delivered solid PRODUCTION LIFTING COST D&C
Slide 10: Delivery on 2025 guidance leaves us well poised for 2026
10 Delivery on 2025 guidance leaves us well poised for 2026 Production Adj. EBITDA Mboe/d Guidance $Bn Guidance 140 1.9 115 1.6 1.1 1.5-1.6 70 112-114 2024A 2025A 2026F 2024A 2025A 2026F (1) Production 2H-25 Adj. EBITDA 2H-25 Mboe/d $Bn Tied-in 74 wells with 1.3 $Bn capex, improving vis-à-vis origin
Slide 11: Value creation through M&A
11 Value creation through M&A Acquisition of participations in BS and BdT (pending closing) Location of Vista current and target assets EV/ EBITDA 2025 (1) EV/ flowing barrels (1) HIGHLY 70.4 5.2 ACCRETIVE 3.0 37.1 TRANSACTION Vista Transaction Vista Transaction Adds 27,733 high-quality net acres in
Slide 12: Closing remarks
12 Closing remarks Cambiar foto Robust operational Achieved significant D&C performance, increasing cost reduction through total production, P1 commercial, supply chain reserves and expanding and technological well inventory innovation Another year delivering on annual guidance across all metrics Ac
Slide 13: THANKS! Q&A
THANKS! Q&A
Slide 14: Glossary
14 Glossary ▪ $: U.S. Dollars administrative expenses, other operating income, other operating expense and other ▪ $MM: Million U.S. Dollars non-cash costs related to the transfer of conventional assets ▪ $Bn: Billion U.S. Dollars ▪ Mbbl: Thousands of barrels of oil ▪ $/bbl: U.S. Dollars per barrel
Vista Energy S.A.B. de C.V. — Q4 2025 Earnings Presentation on 6ix