Pampa Energia Sa · BCBA:PAMP

Pampa Energia Sa — Q4 2023 Earnings Presentation

16 slides from Pampa Energia Sa's earnings presentation, March 2024

  1. Slide 1: Q4 2023 results videoconference

    Q4 2023 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: A quick review of the last year

    A quick review of the last year Growing our production as we strengthen our balance sheet Gas peak production & avg production, in mcmpd Power generation, in MW 16.4  44% yoy 5,332  5% yoy 5,088 11.4 10.3 9.8 Consolidated adjusted EBITDA, in US$ million Net debt & ND/EBITDA, in US$ million 913 908

  4. Slide 4: Q4 2023's key takeaways - consolidated figures

    Q4 2023’s key takeaways - consolidated figures, in US$ million Q4 23’s main highlights Consolidated adjusted EBITDA1 ✓ Net debt at 613m o 244 -30% yoy o 183 -47% qoq ✓ Soft demand o 129   o  o 35% 41% 36% ✓ ✓ ✓ 47% shale over gas output vs. 3% in Q4 22 Q4 23 Capex1 Consolidated adjusted EBITDA br

  5. Slide 5: AR$ depreciation impact

    AR$ depreciation impact PPE in US$ million Sales mix in Q4 23, by currency 10% 2,544 1,910 % 90% TGS & Transener FX 4.56 Inflation 3.11 Pampa Energía ⚫ 5

  6. Slide 6: Power generation

    Power generation PPAs make this segment a resilient business Adjusted EBITDA1, in US$ million Generation performance, in GWh +10% yoy 92 94 +3% qoq 5,175 -3% yoy 86 4,985 5,017 similar qoq ✓ ✓  ✓  51% 51% 59%    ✓  ✓ ✓ Q4 23 Q4 23 Inflation vs. spot price (in US$/MWh) Availability performance,

  7. Slide 7: Growing our green energy contribution

    Growing our green energy contribution PEPE VI project undergoing on track PEPE VI 31 Vestas wind turbines x 4.5 MW each 140 MW gradual COD between July and October 20241 US$269 million 69% Pampa Energía ⚫ 7

  8. Slide 8: Oil and gas: gas deliveries are recovering

    Oil and gas After a soft quarter, gas deliveries are recovering Domestic production In mcmpd 15.7 12.6 12.6 12.6 12.6 12.6 Gas exports 1.5 1.5 1.5 1.5 1.5 0.9 Note: During off-peak season, exports are considered domestic deliveries and committed Pampa Energía ⚫ 8 production is reduced by export comm

  9. Slide 9: Oil and gas: mild weather affected Q4 gas demand

    Oil and gas Mild weather and poor thermal gener affected Q4 gas demand Adjusted EBITDA, in US$ million Lifting cost, in US$ million 132 42 38 +5% yoy -8% qoq -30% yoy 36 72 -62% qoq 7.4  56% 50  6.4 ✓ 45%  5.6 ✓ 40% ✓ Q4 23 Q4 23 Production performance, in kboe/d Crude oil production, in kbbl/d 6

  10. Slide 10: Oil and gas: El Niño also affected Q4 gas exports

    Oil and gas El Niño also affected Q4 gas exports Gas production, in mcmpd Weighted avg gas price for Pampa, in US$/MBTU 4.7 4.8 12.9 4.0 4.7 -7% yoy 3.9 9.5 8.8 -31% qoq 4.4 2022 = 4.2  3.2 2023 = 4.2 Q4 23 Q4 Destination of our sales in Q4 Pampa Pampa Energía ⚫ 10

  11. Slide 11: Oil and gas: Shale gas increasing

    Oil and gas Shale gas increasing & great productivity in our wells In kcmpd Average production per horizontal well – 2,500m branch SIERRA CHATA 12 wells EL MANGRULLO 14 wells Fortín de Piedra 97 wells Months In mcmpd Gas production 47% of ~US$490 million Q4 23’s estimated capex in 2024 total gas out

  12. Slide 12: 2023 Reserves

    2023 Reserves Growth driven by an outstanding productivity 6% ND 35% % Dev'd 65% 94% Pampa Energía ⚫ 12

  13. Slide 13: Petrochemicals

    Petrochemicals Lower price & volume, improved by export dollar Adj. EBITDA, in US$ million Sales performance, in thousand ton 1,264 +33% yoy 120 20 +25% qoq 102 -22% yoy 16 94 -9% qoq 15 ✓  ✓ 17%   10% 12% Q4 23 Q4 23 Q4 23 sales volume breakdown by market 45% % 55% Pampa Energía ⚫ 13

  14. Slide 14: Q4 financial position

    Q4 23 financial position Key cash flow figures for the Restricted Group, US$ million Q4 23 FCF = -US$95 million +US$135m yoy -US$141m yoy, -US$5m qoq -US$129m qoq Pampa Energía ⚫ 14

  15. Slide 15: Strong balance sheet

    Strong balance sheet Remarkable operating performance keeps improving leverage ratios Key leverage figures, as of December 31, 20231, US$ million Consolidated with Parent Company Affiliates at O/S3 affiliates at O/S 2 1,448 217 1,664 After Q4 2023: Debt • Cash 834 123 957 Net debt 613 94 708 • LTM A

  16. Slide 16: pampaenergia.com - (in) (Ff) © PamMpaeneraia

    pampaenergia.com - (in) (Ff) © PamMpaeneraia

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