Pampa Energia Sa · BCBA:PAMP

Pampa Energia Sa — Q3 2020 Earnings Presentation

17 slides from Pampa Energia Sa's earnings presentation, September 2020

  1. Slide 1: Q3 2020 results videoconference

    Q3 2020 results videoconference

  2. 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

  3. Slide 3: Reporting considerations

    Reporting considerations Q3 2020 Q3 2019 Reporting How Pampa reports FC US$ FC US$ FC AR$ @ FC AR$ @ Sept 30, 2020 Sept 30, 2019 Inflation = 4% Inflation = 6% Devaluation = 8% Devaluation = 36% Pampa Restricted Group Pampa consolidated non-GAAP • • • • • • • Pampa Energía ⚫ 3

  4. Slide 4: The main highlights of the quarter

    The main highlights of the quarter • • • • Aerial view of Mario Cebreiro Wind Farm, 2020 Pampa Energía ⚫ 4

  5. Slide 5: Q3 2020's key takeaways

    Q3 2020’s key takeaways Consolidated figures, in US$ million Revenues1 Consolidated adjusted EBITDA1 800 656 689 +5% yoy 300 242 80% -3% yoy +27% qoq 234 544 70% +95% qoq 700 250 600 60% ✓ 37%  200 34% 500 50% 400 ✓ 150 120 40%  300  30% ✓ 100 200 20%  ✓ 22% 50 100 10% 0 0 0% Q3 20 Q3 20 Capex P

  6. Slide 6: Winter season and lockdown easing drove demand up

    Winter season and lockdown easing drove demand up Argentina’s net electricity demand, monthly average in MW Q3 2020 Jun Jul Aug Winter season Pampa Energía ⚫ 6

  7. Slide 7: Power generation kept contributing resiliency to our performance

    Power generation kept contributing resiliency to our performance Adjusted EBITDA1, in US$ million Generation performance, in GWh -3% yoy 131 132 +1% yoy 100% 4,138 4,000 +16% qoq +39% qoq 140 4,500 3,461  95 90% 4,000 120 ✓ 71% 3,500 100 80%  ✓ 3,000 80 2,500 ✓ 70% ✓ 52% 2,000 60 68%  ✓ 60% 1,500

  8. Slide 8: Ensenada Barragán Thermal Power Plant

    Ensenada Barragán Thermal Power Plant Key infrastructure project for Argentina’s electricity supply Works resumed with the strictest protocols in place Aerial view of CTEB, 2020 Pampa Energía ⚫ 8

  9. Slide 9: Gas upstream is facing an unprecedented collapse

    Gas upstream is facing an unprecedented collapse Evolution of domestic gas production, in mcm/bcf per day 130/4.6 Q3 Additional required imports as % of total gas demand in Q3 120/4.2  21% 110/3.9  29% 2020  27%  35% 100/3.5 90/3.2 80/2.8 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Peak seas

  10. Slide 10: Winter demand boosted our upstream performance

    Winter demand boosted our upstream performance… Adjusted EBITDA1, in US$ million Lifting cost, in US$ million -31% yoy 52 6x qoq 42 145% 50 50 12.5 36 125%  45 11.5 9.1 40 -44% yoy 40 105% 23 35 10.5 +16% qoq ✓ 20 85% 30 30 9.5 42% 43% 25 65% 8.5 20 ✓ ✓ 6 20 5.5 7.5 5.1 45% 15 6.5 ✓ 10 10 11% 25% ✓

  11. Slide 11: Gas prices are the lowest in years, even for peak season

    … but gas prices are the lowest in years, even for peak season Gas sales, in mcf/d Weighted avg gas price for Pampa, in US$/MBTU -15% yoy +4% qoq 350 312 3.3 300 253 264  ✓ 3.1 3.1 2.6 2.5 250 200 2.3  2.0 150 100  50 ✓ - Q3 20 Q3 Main news Destination of our sales, YTD as of September • Operatio

  12. Slide 12: Q3 2020's key takeaways

    Q3 2020’s key takeaways Consolidated figures, in US$ million Q3 20 Net income to 78 shareholders -33% yoy 20x qoq Q3 19 Q3 20 Pampa Energía ⚫ 12

  13. Slide 13: Sound balance sheet to weather a challenging environment

    Sound balance sheet to weather a challenging environment and ready to seize any opportunity Key leverage figures, as of September 30, 20201, US$ million Consolidated with Restricted Group Edenor Affiliates at ownership3 affiliates at ownership After Q3 2020: Debt2 1,607 115 419 2,141 • Cash 352 118

  14. Slide 14: Pampaenergia

    Pampaenergia

  15. Slide 15: Electricity Distribution

    Electricity Distribution Adj. EBITDA, in US$ million Sales Performance , in GWh +1% yoy +13% qoq -US$17m yoy 5,362 5,434 ✓ 46 45 +US$42m qoq 50% 4,791 ✓ 28  40%  36 26 19% 30%  16 9% ✓ 20% 6 (14) ✓ 10% 0% (4 ) (1 4) -1 0% Q3 20 Q3 20 Number of End-Users, in million Main News • 3.13 3.14 3.09 +1%

  16. Slide 16: Petrochemicals

    Petrochemicals Adj. EBITDA, in US$ million Sales Performance, in thousand ton +21% yoy 748 +73% qoq 8 7 50% ✓ 90 45% 7 100 +4m yoy ✓ 75 40% 6 90 4 35% 5 +3m qoq 80 52 30% 3  70 4 25% ✓ 60 10% 10% 20% 50 3 ✓ 4% 40 15% 2 30 10% 20  1 5% 10 - 0% - Q3 20 Q3 20 Main News • Pampa Energía ⚫ 16

  17. Slide 17: Holding & Others

    Holding & Others Adj. EBITDA2, in US$ million Main News +19% yoy • 31 38 33 29 +9% qoq ▪ 28 ▪ 23 • 18 13 12 ▪ 8 3 (2 ) Q3 20 Affiliates’ EBITDA Performance @ 100% Ownership, in US$ million 90 1 28 26 79 ✓ 23 ✓ ✓ ✓ ✓ ✓ 30       (2) (2) ✓  Q3 20 Q3 20 Q3 20 Pampa Energía ⚫ 17

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