Transportadora De Gas Del Sur Sa Class B · BCBA:TGSU2
Transportadora De Gas Del Sur Sa Class B — Gas Transporter of the South — FINANCIAL STATEMENTS AS OF JUNE 30, 2026
41 slides from Transportadora De Gas Del Sur Sa Class B's investor presentation, Aug 13, 2026
Slide 1: tgs
tgs S|
Slide 2: Financial Statements as of June 30, 2026
FINANCIAL STATEMENTS AS OF JUNE 30, 2026
Slide 3: Activities of the Company in 6M2026 and 6M2025
Activities of the Company in 6M2026 and 6M2025 Revenues Total revenues for 6M2026 increased by Ps. 131,970 million compared to 6M2025, mainly as a result of higher revenues in the Liquids Production and Commercialization segment for Ps. 127,421 million and Midstream segment for Ps. 19,284 million. T
Slide 4: Midstream
Midstream Midstream revenues increased by Ps. 19,284 million in 6M2026 compared to the same period in 2025. This increase is due to higher revenues corresponding to natural gas transportation and conditioning services in Vaca Muerta, as a result of the commencement of operations, at the end of Febru
Slide 5: Other operating results, net
Other operating results, net Other operating results, net, recorded a profit of Ps. 9,361 million, compared to a loss of Ps. 43,296 million recorded in 6M2025. The positive variation is mainly explained by the lower impact associated with the climate event that occurred at the Cerri Complex in March
Slide 6: Financial results variation
This variation was mainly explained by a Ps. 36,146 million decrease in the results generated by financial investments, due to their lower yields, and by the higher negative result from exposure to inflation, which amounted to Ps. 62,084 million in 6M2026, compared to Ps. 43,115 million in 6M2025. T
Slide 7: Comprehensive income comparison table
202026, 292025 Variation (inmillions of pesos) % Revenues 535,522 464,147 7i,374 15.4% Natural Gas transportation 194,343, 201, 481 (7,338) (3.5%) Liquids production and commercialization 238,904 160,761 78,143 43.6% Midstream 302,274 101, 905 363 0.4% Gost of sales (282,398) (219,816) (42,582) 19.4
Slide 8: Midstream segment and cost of sales in 2Q2026
The Midstream segment reported an increase of Ps. 369 million, mainly explained by higher natural gas transportation and conditioning services in Vaca Muerta. This effect was partially offset by the lower exchange rate measured in constant currency and lower miscellaneous services revenues. Cost of
Slide 9: 2Q2026 financial results, net
In 2Q2026, financial results, net improved by Ps. 60,191 million compared to those recorded in the same period of 2025. This variation was mainly attributable to the higher positive results generated by financial assets. This effect was partially offset by a higher negative foreign exchange result a
Slide 10: Consolidated Comprehensive Income Summary
5. Consolidated Comprehensive Income Summary Summary of the consolidated comprehensive income information for the six-month periods ended June 30, 2026, 2025 and 2024:
Slide 11: Consolidated Cash Flow Summary
6. Consolidated Cash Flow Summary Summary of the consolidated cash flow information for the six-month periods ended June 30, 2026, 2025 and 2024:
Slide 12: Second quarter operating data
Second quarter April - June, 2026 2025 2024 Natural Gas Transportation Average firm contracted capacty (millions of m3/d) 90.5 29.6 83.2 90.5 99.6 93.2 Average daily deliveries (milions of ma/d) 75.4 Bd. 7.6 82:5 5 765 NGL production and commercialization «Production Ethane (in tons) SEEEZES 136,085
Slide 13: Luis Fallo signature
Luis Fallo Vice Chairman acting as a Chairman
Slide 14: Luis Fallo signature
Luis Fallo Vice Chairman acting as a Chairman
Slide 15: Luis Fallo signature
Luis Fallo Vice Chairman acting as a Chairman
Slide 16: Luis Fallo signature
Luis Fallo Vice Chairman acting as a Chairman
Slide 17: Corporate structure and ownership
53.83% PUBLIC OFFERING 46.17% (FGS-ANSES: 25.33%, BYMA & NYSE: 20.84%) tgs@ TELCOSUR S.A. TGS 99.98% Pampa Energia S.A. 0.02% GAS LINK S.A. TGS 49% Shell Argentina S.A. 25.50% Pan American Sur S.A. 20.40% Wintershall Dea Argentina S.A. 510% | Procesadora de Gas del Sur S.A, 99.98% TGS 0.02% TELCOSUR
Slide 18: Six-month period ended June 30, 2026 segment information
‘Sc month period ended June 30, 2026 Natural Gas Liquids Production Transportation and Commercialization Midstream __Telecommunications Eliminations: Total Revenues 402,443,767 445,761,187 201,471,467 3,883,283 = 1,053,559,704 Intersegment revenues, 20,508,581 : : = (20,508,581) z Gos of sales (174,
Slide 19: Revenue breakdown by market and opportunity
The breakdown of revenues from sales of goods and services by market and opportunity for the six-month periods ended June 30, 2026 and 2025 is as follows:
Slide 20: Six-month period ended June 30, 2026
Six-month period ended June 30, 2026. Natural Gas Liquids Production and Transportation _Commercialization _Midstream __Telecommunications Total Primary geographical market External Market : 224, 101,287 = = 224 01,287 local Market “402,443,767 218,831,325 201,471,467 3,883,283 525,625,842 Total 402
Slide 21: Six-month period ended June 30, 2025
Six-month period ended June 30, 2025 Natural Gas Liquids Production and Transportation __Commercialization _Midstream __Telecommunications Total Primary geographical market External market : 128, 694,255 : : 128,894,295 Local market “447,178,075 181,259,040 183,639,377 “4,231,680 794,509,172 Total “
Slide 22: Other receivables and tax credits
06/30/2026 12/31/2025 ‘Current Non Gurrent Gurrent Non Gurrent Turnover tax balance 446 065 - 211,706) = VAT credit balance 738,397 = 10,442,019 = Income tax credit balance 189,101 : = = Other tax receivables 3,078,288 = 927,580 = Prepaid expenses 7,049,515 6502 14,860,402 Lizz Advances to suppliers
Slide 23: Movement of impairment of financial assets
The movement of the impairment of financial assets is as follows:
Slide 24: Impairment of financial assets balances
Balances as of 12/31/2024 464,819 Inflation adjustment restaternent (1267) Additions ™ 71,193,761 Applications = Reversals = Balances as of 06/30/2025 11,596,693 Inflation adjustment restaternent (4.376371) Additions 3,778,406 Applications = Reversals E Balances as of 12/31/2025 11,998,728 Inflation
Slide 25: Expenses by nature
(2026 2025 eratins ses Regulated —Non-regulated Administrative Selling Financial Accounts Total activities activities expenses expenses expenses Total Selaries, wages and other compensations 81,229,914 32,299,519 29,034,622 15,776,416 4,059,357 : 82,239,965 Socal security taxes 1g(661,331 5,842,715
Slide 26: IAS 29 and other operating results, net
In accordance with the provisions of IAS 29, tgs opted to present the loss on the monetary position in a single line included in the financial results. This presentation implies that the nominal values of the financial results have been adjusted for inflation. The real values of financial results ar
Slide 27: Financial assets at amortized cost
m) Financial assets at amortized cost
Slide 28: Property, plant and equipment
bt di! oni reer. Cost Depreciation ‘Accumulated at ‘Accumulated at Beginning End of the beginning ‘atthe end Net book. Net book Account ofthe year Additions Retirements Tronsfers the period ofthe year Retirements Forthe period _—Rate% of the year value value Pipelines 2,066,875,912 : : 40,551,967 2,
Slide 29: Loans
Loans are totally denominated in US dollars. The activity of the loans as of June 30, 2026 and 2025 is the following:
Slide 30: Maturities of financial debt
The maturities of current and non-current financial debt, net of issuance expenses, as of June 30, 2026 are as follows:
Slide 31: Debt maturity schedule
To due ‘As of 06/30/2027 From 07/01/2027 From07/01/2028 From07/01/2029 From 07/01/2030 Total Bue: 006/30/2028 _t006/30/2029 _to 06/30/2030 onwards 2031 Notes : : = = 713 168 4S 713 188,445 2035 Notes : = = = 724,052,905 724,052,805 2031 Notes interests = 26,747,630 = = = 28,747,630 2035 Notes intere
Slide 32: 2031 Notes and Class 4 Notes (2035 Notes)
The net proceeds from the 2031 Notes were US$ 483,688,800. The company used the proceeds to complete a tender offer and cancel the ON 2018. Class 4 Notes (“2035 Notes”) On November 20, 2025, within the framework of the 2024 Program, the Company proceeded to issue the 2035 Notes in accordance with th
Slide 33: Proceeds from the 2035 Notes
The proceeds from the issuance of the 2035 Notes amounted to US$ 491,505,000, net of issuance discount. The funds will be used for general purposes, including the expansion of the GPM and the final sections of the tgs transportation system.
Slide 34: Deferred Assets / (Liabilities)
Deferred Assets / (Liabilities) 06/30/2026 12/31/2025 Financial assets at fair valuethraugh profit or loss 19,480,271 10,220,298 ce for legal claims and other 1 Financial leases 1015358 3,564,401, Gortrad liabli= 29.256.076 25.1021 (ther receivable (7.480.013) (GE 7251 Lane (10,478,527) (13252436) P
Slide 35: Provisions in current liabilities
The aforementioned provisions are included in current liabilities.
Slide 36: Financial instruments as of June 30, 2026
June 30, 2026 Financial assets at Financial assets at fair value amortized cost Total ‘CURRENT ASSETS: Trade receivables = 235 532, 601 238,532,501 Other receivables z 10,585,680 110,585,580 Finandal assets measuredat amortized cost > 335,706,347 335,706,347 Finandal assets at fair value through pro
Slide 37: Fair value measurement hierarchy and estimates
17.2 Fair value measurement hierarchy and estimates According to IFRS Accounting Standard 13, the fair value hierarchy introduces three levels of inputs based on the lowest level of input significant to the overall fair value. These levels are: · Level 1 : includes financial assets and liabilities w
Slide 38: Foreign currency assets and liabilities
06/30/2026 12/31/2025 Foreign currency ‘Amount Foreign currency ‘Amount and amount Exchange in local and amount in local (in thousands) rate currency (in thousands) currency CURRENT ASSETS: Cash and cash equivalents uss 36,415 1473.00 53,639,387 uss 493,773 836,020,841 Financial assets at amortized
Slide 39: Significant related party transactions
The detail of significant transactions with related parties for the six-month periods ended June 30, 2026 and 2025 is as follows: Six-month period ended June 30, 2026:
Slide 40: Related party transactions: SACDE services, 2026
Additionally, during the six-month period ended June 30, 2026, the Company received from SACDE Sociedad Argentina de Construcción y Desarrollo Estratégico S.A., engineering and construction services for Ps. 6,415,276 which were capitalized as property, plant and equipment. Six-month period ended Jun
Slide 41: Related party transactions: SACDE services, 2025
Additionally, during the six-month period ended June 30, 2025, the Company received from SACDE Sociedad Argentina de Construcción y Desarrollo Estratégico S.A., engineering and construction services for Ps. 47,669,147 which are activated within the balance of works in progress.
Gas Transporter of the South — FINANCIAL STATEMENTS AS OF JUNE 30, 2026 on 6ix