EX-99.1

截至2024年9月30日和2023年的未經審核的中期簡明綜合損益及其他收益表九個月截至2024年9月30日和2023年的九個月期間

截至2024年9月30日和2023年12月31日的未經審核的中期簡明合併資產負債表

未經審核的中期簡明合併權益變動表截至2024年9月30日和2023年的九個月期間截至2024年9月30日和2023年的九個月期間的未經審核的中期簡明合併現金流量表

截至2024年9月30日和2023年的九個月期間的未經審核的中期簡明合併現金流量表截至2024年9月30日和2023年的九個月期間的未經審核的中期簡明合併現金流量表截至2024年9月30日和2023年的九個月期間的未經審核的中期簡明合併現金流量表

截至2024年9月30日和2023年12月31日以及對於未經審核的中期簡明合併財務報表的附註九個月截至2024年和2023年9月30日的期間

EX-99.1 2 d873025dex991.htm EX-99.1 EX-99.1

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威斯達能源有限公司

2024年9月30日和2023年12月31日的未經審核的中期簡明綜合財務報表，以及截至2024年和2023年9月30日的九個月期間

VISTA ENERGY, S.A.b. DE C.V.

截至2024年9月30日和2023年12月31日的未經審核的中期簡明綜合財務報表九個月截至2024年9月30日和2023年的九個月期間

VISTA ENERGY, S.A.b. DE C.V.

未經審核的截至2024年和2023年9月30日之間的中期簡明合併利潤及其他全面收益表

(金額以美元千位數表示)


	註釋	期間從 1月1日透過 9月30日， 2024			期間從 1月1日透過 9月30日， 2023			期間從 7月1日, 透過 9月30日， 2024			期間從 7月1日, 透過 9月30日， 2023
與顧客簽約的收入	4		1,176,450			859,578			462,383			302,760
銷貨成本：
營運成本	5.1		(79,970	)		(72,415	)		(31,614	)		(21,924	)
wti原油庫存波動	5.2		(2,193	)		(3,801	)		(7,056	)		(1,209	)
折舊、減損及攤提	11/12/13		(298,081	)		(197,419	)		(114,703	)		(70,600	)
版稅及其他	5.3		(170,054	)		(130,220	)		(68,482	)		(44,655	)
其他项目和某些变量收费项不随我们操作变化而变动的與轉讓傳統資產相關的成本	15		(25,049	)		(19,567	)		(8,152	)		(10,169	)

毛利潤			601,103			436,156			232,376			154,203

銷售費用	6		(77,807	)		(49,622	)		(36,828	)		(17,673	)
總部及行政費用	7		(73,747	)		(51,818	)		(29,247	)		(15,031	)
勘探支出			(36	)		(368	)		(3	)		148
其他營業收益	8.1		47,660			120,173			21,176			23,849
其他營業費用	8.2		(1,197	)		445			(174	)		153

營業利潤			495,976			454,966			187,300			145,649

利息收入	9.1		3,160			802			1,360			299
利息費用	9.2		(37,138	)		(16,205	)		(21,022	)		(4,842	)
其他財務收入（支出）	9.3		4,142			(61,657	)		26,902			(27,375	)

財務收入（支出），淨額			(29,836	)		(77,060	)		7,240			(31,918	)

營業稅前利潤			466,140			377,906			194,540			113,731

當前所得稅（費用）	14		(319,391	)		(55,963	)		(149,989	)		(1,378	)
递延所得税的利益（费用）	14		237,001			(57,926	)		120,908			(29,251	)

所得稅（支出）			(82,390	)		(113,889	)		(29,081	)		(30,629	)

本期净利润			383,750			264,017			165,459			83,102

其他綜合收益
其他綜合收益，不得轉列為後續利潤（損失）
來自與員工福利相關的精算重新評估的損益	24		(14,883	)		(988	)		(14,949	)		91
- 递延所得税益(费用)	14		5,209			346			5,232			(31	)

其他綜合收益，不得在隨後的時期轉入淨利中，扣稅後			(9,674	)		(642	)		(9,717	)		60

本期綜合利潤總額			374,076			263,375			155,742			83,162

每股收益
基本(每股美元)	10		3.992			2.834			1.728			0.874
稀釋(每股美元)	10		3.843			2.664			1.662			0.821

附註1至28構成了這些未經審核的中期摘要綜合財務報表的一個組成部分。

威斯達能源有限公司

2024年9月30日和2023年12月的未經審核的中期簡明綜合資產負債表

(金額以千美元表示)


	註釋		截至2024年9月30日			截至2023年12月31日
資產
非流动资产
資產、廠房和設備		11		2,596,993			1,927,759
商譽		12		22,576			22,576
其他無形資產		12		11,047			10,026
租賃權$		13		54,170			61,025
關聯企業的投資				10,830			8,619
貿易及其他應收款項		15		177,930			136,351
透過權益法之投資				—			5,743

所有非流動資產總額				2,873,546			2,172,099

流動資產合計
存貨		17		2,434			7,549
貿易及其他應收款項		15		349,674			205,102
現金、銀行存款和其他短期投資		18		256,027			213,253

全部流動資產				608,135			425,904

資產總額				3,481,681			2,598,003

權益及負債
股權
股本		19.1		418,029			517,874
其他股本工具				32,144			32,144
法定盈餘公積				8,233			8,233
股份報酬				41,539			42,476
股份回購儲備		19.2		129,324			79,324
其他累積綜合收益（損失）				(14,101	)		(4,427	)
累積盈利（損失）				905,141			571,391

總股本				1,520,309			1,247,015

負債
非流動負債合計
遞延所得稅負債				135,175			383,128
租賃負債		13		28,677			35,600
計提		20		25,882			12,339
借款		16.1		725,239			554,832
員工福利		24		20,518			5,703

總非流動負債				935,491			991,602

流動負債
計提		20		5,052			4,133
租賃負債		13		16,571			34,868
借款		16.1		249,991			61,223
薪資和薪資稅		21		26,043			17,555
所得稅負債				296,852			3
其他稅項和版稅		22		28,659			36,549
貿易及其他應付款項		23		402,713			205,055

流動負債合計				1,025,881			359,386

總負債				1,961,372			1,350,988

權益總額及負債總額				3,481,681			2,598,003

附註1至附註28是這些未經審計的中期摘要合併財務報表的一部分。

VISTA ENERGY, S.A.B. DE C.V.

Unaudited interim condensed consolidated statement of changes in equity for the nine-month period ended September 30, 2024

(Amounts expressed in thousands of US Dollars)


	Capital stock			Other equity instruments		Legal reserve		Share-based payments			Share repurchase reserve		Other accumulated comprehensive income (losses)			Accumulated profit (losses)			Total equity
Amounts as of December 31, 2023		517,874			32,144		8,233		42,476			79,324		(4,427	)		571,391			1,247,015

Profit for the period		—			—		—		—			—		—			383,750			383,750
Other comprehensive income for the period		—			—		—		—			—		(9,674	)		—			(9,674	)

Total comprehensive income		—			—		—		—			—		(9,674	)		383,750			374,076

Ordinary General Shareholders’ meeting on August 6, 2024 ⁽¹⁾:
Creation of share repurchase reserve		—			—		—		—			50,000		—			(50,000	)		—
Share repurchase ⁽²⁾		(99,846	)		—		—		—			—		—			—			(99,846	)
Share-based payments		1			—		—		(937	)⁽³⁾		—		—			—			(936	)

Amounts as of September 30, 2024		418,029			32,144		8,233		41,539			129,324		(14,101	)		905,141			1,520,309

⁽¹⁾	See Note 19.2.

⁽²⁾	See Note 19.1.

⁽³⁾	Including 28,638 share-based payments (Note 7), net of tax charges.

Notes 1 through 28 are an integral part of these unaudited interim condensed consolidated financial statements.

VISTA ENERGY, S.A.B. DE C.V.

Unaudited interim condensed consolidated statement of changes in equity for the nine-month period ended September 30, 2023

(Amounts expressed in thousands of US Dollars)


	Capital stock		Other equity instruments		Legal reserve		Share-based payments			Share repurchase reserve		Other accumulated comprehensive income (losses)			Accumulated profit (losses)		Total equity
Amounts as of December 31, 2022		517,873		32,144		2,603		40,744			49,465		(8,694	)		209,925		844,060

Profit for the period		—		—		—		—			—		—			264,017		264,017
Other comprehensive income for the period		—		—		—		—			—		(642	)		—		(642	)

Total comprehensive income		—		—		—		—			—		(642	)		264,017		263,375

Share-based payments		1		—		—		(1,006	)⁽¹⁾		—		—			—		(1,005	)

Amounts as of September 30, 2023		517,874		32,144		2,603		39,738			49,465		(9,336	)		473,942		1,106,430

⁽¹⁾	Including 17,275 share-based payments (Note 7), net of tax charges.

Notes 1 through 28 are an integral part of these unaudited interim condensed consolidated financial statements.

VISTA ENERGY, S.A.B. DE C.V.

Unaudited interim condensed consolidated statements of cash flows for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars)


	Notes		Period from January 1, through September 30, 2024			Period from January 1, through September 30, 2023			Period from July 1, through September 30, 2024			Period from July 1, through September 30, 2023
Cash flows from operating activities:
Profit for the period, net				383,750			264,017			165,459			83,102
Adjustments to reconcile net cash flows
Items related to operating activities:
Share-based payments		7		28,638			17,275			12,215			4,025
Net increase (decrease) in provisions		8.2		1,197			(721	)		174			(153	)
Net changes in foreign exchange rate		9.3		2,305			(10,531	)		(9,474	)		(6,509	)
Discount of assets and liabilities at present value		9.3		408			(2,943	)		463			(6,410	)
Interest expense on lease liabilities		9.3		2,258			2,137			644			645
Discount for well plugging and abandonment		9.3		863			1,788			323			673
Income tax expense		14		82,390			113,889			29,081			30,629
Other non-cash costs related to the transfer of conventional assets		15		25,049			19,567			8,152			10,169
Employee benefits		24		223			124			66			176
Items related to investing activities:
Gain related to the transfer of conventional assets		8.1		—			(89,659	)		—			—
Gain from farmout agreement		8.1		—			(24,429	)		—			(18,773	)
Interest income		9.1		(3,160	)		(802	)		(1,360	)		(299	)
Changes in the fair value of financial assets		9.3		(7,017	)		12,222			(9,104	)		19,601
Depreciation and depletion		11/13		293,964			194,477			113,232			69,595
Amortization of intangible assets		12		4,117			2,942			1,471			1,005
Items related to financing activities:
Interest expense		9.2		37,138			16,205			21,022			4,842
Amortized cost		9.3		1,060			1,285			376			342
Remeasurement in borrowings		9.3		—			48,967			—			16,515
Other financial income (expense)		9.3		(4,019	)		8,732			(10,130	)		2,518
Changes in working capital:
Trade and other receivables				(226,860	)		(116,720	)		(90,529	)		(91,026	)
Inventories		5.2		2,193			3,801			7,056			1,209
Trade and other payables				30,758			32,637			18,153			24,580
Payments of employee benefits		24		(291	)		(209	)		(124	)		(70	)
Salaries and payroll taxes				(20,828	)		(26,188	)		11,070			3,378
Other taxes and royalties				(20,626	)		(40,834	)		(6,811	)		(9,767	)
Provisions				(1,035	)		(1,270	)		(194	)		(380	)
Income tax payment				(22,934	)		(60,431	)		(6,348	)		(22,331	)

Net cash flows provided by operating activities				589,541			365,328			254,883			117,286

VISTA ENERGY, S.A.B. DE C.V.

Unaudited interim condensed consolidated statements of cash flows for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars)


	Notes		Period from January 1, through September 30, 2024			Period from January 1, through September 30, 2023			Period from July 1, through September 30, 2024			Period from July 1, through September 30, 2023
Cash flows from investing activities:
Payments for acquisitions of property, plant and equipment				(746,044	)		(457,513	)		(326,188	)		(162,762	)
Proceeds from the transfer of conventional assets⁽¹⁾				10,734			10,000			—			—
Payments for acquisitions of other intangible assets		12		(5,138	)		(3,536	)		(2,710	)		(1,176	)
Payments for acquisitions of investments in associates				(2,211	)		(632	)		(1,745	)		(100	)
Interest received		9.1		3,160			802			1,360			299
Proceeds from farmout agreement		8.1		—			26,650			—			20,400
Prepayment of leases				—			(14,161	)		—			(14,161	)
Payments for the acquisition of AFBN assets				—			(18,750	)		—			(6,250	)
Payments for acquisitions of other assets				—			(2,014	)		—			2,994

Net cash flows (used in) investing activities				(739,499	)		(459,154	)		(329,283	)		(160,756	)

Cash flows from financing activities:
Proceeds from borrowings		16.2		485,017			218,500			142,724			70,000
Payment of borrowings principal		16.2		(130,647	)		(70,274	)		(74,110	)		(22,500	)
Payment of borrowings interest		16.2		(20,714	)		(18,754	)		(10,612	)		(6,855	)
Payment of borrowings cost		16.2		(1,437	)		(1,699	)		(514	)		(387	)
Payment of lease		13		(32,849	)		(30,437	)		(10,922	)		(10,306	)
Share repurchase		19.1		(99,846	)		—			(49,864	)		—
Payments of other financial expense		9.3		(5,969	)		(7,913	)		1,421			(2,518	)

Net cash flow provided by (used in) financing activities				193,555			89,423			(1,877	)		27,434

Net increase (decrease) in cash and cash equivalents				43,597			(4,403	)		(76,277	)		(16,036	)
Cash and cash equivalents at beginning of the period		18		209,516			241,956			321,562			219,677
Effect of exposure to changes in the foreign currency rate and other financial results of cash and cash equivalents				(4,051	)		(66,707	)		3,777			(32,795	)
Net increase (decrease) in cash and cash equivalents				43,597			(4,403	)		(76,277	)		(16,036	)

Cash and cash equivalents at end of the period		18		249,062			170,846			249,062			170,846

Significant transactions that generated no cash flows
Acquisition of property, plant and equipment through increase in trade and other payables				330,590			177,483			330,590			177,483
Changes in well plugging and abandonment with an impact in property, plant and equipment		11		10,158			(2,618	)		5,496			654
Disposal for transfer of conventional assets through increase in trade and other receivables				—			(116,071	)		—			—

⁽¹⁾	See Note 1.2.1 to the annual consolidated financial statements as of December 31, 2023.

Notes 1 through 28 are an integral part of these unaudited interim condensed consolidated financial statements.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Note 1. Group information

1.1 Company general information, structure and activities

Vista Energy, S.A.B. de C.V. (“VISTA”, the “Company” or the “Group”), formerly known as Vista Oil & Gas, S.A.B. de C.V., was organized as a variable-capital stock company on March 22, 2017, under the laws of the United Mexican States (“Mexico”). The Company adopted the public corporation or “Sociedad Anónima Bursátil de Capital Variable” (“S.A.B. de C.V.”) on July 28, 2017.

It is listed on the New York Stock Exchange (“NYSE”) under ticker symbol “VIST” as from July 26, 2019.

Its main office is located in the City of Mexico, Mexico, at Pedregal 24, floor 4, Colonia Molino del Rey, Alcaldía Miguel Hidalgo, zip code 11040.

Through its subsidiaries, the Company engages in oil and gas exploration and production (upstream segment).

These unaudited interim condensed consolidated financial statements were approved for publication by the Board of Directors on October 23, 2024.

There were no changes in the Group’s structure and activities as from the date of issuance of the annual consolidated financial statements as of December 31, 2023.

Note 2. Basis of preparation and material accounting policies

2.1 Bases of preparation and presentation

The unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023, and for the nine-month periods ended September 30, 2024 and 2023 were prepared in accordance with the International Accounting Standard (“IAS”) 34 – “Interim Financial Reporting”, issued by the International Accounting Standards Board (“IASB”). The Company prepared its interim financial statements on a condensed basis pursuant to IAS 34. Certain explanatory notes are included to describe the events and transactions that are relevant to understand the changes in the financial position as of September 30, 2024, and the results of operations for the nine-month period ended September 30, 2024. Therefore, these interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements and should be read together with the annual consolidated financial statements as of December 31, 2023.

These unaudited interim condensed consolidated financial statements were prepared using the same accounting policies as used in preparing the Company’s consolidated financial statements as of December 31, 2023, except for the income tax expense that is recognized in each interim period based on the best estimate of the weighted average annual income tax rate expected for the full financial year.

They were prepared on a historical cost basis, except for certain financial assets and liabilities that were measured at fair value. The figures contained herein are stated in US Dollars (“USD”) and are rounded to the nearest thousand, unless otherwise stated.

2.2 New effective accounting standards, amendments and interpretations issued by the IASB adopted by the Company

The Group has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective.

Several amendments apply for the first time in 2024, but do not have an impact on the interim condensed consolidated financial statements of the Group.

2.3 Basis of consolidation

These unaudited interim condensed consolidated financial statements contain the financial statements of the Company and its subsidiaries. There were no changes in interest in Company subsidiaries during the nine-month period ended September 30, 2024.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

2.4 Summary of material accounting policies

2.4.1 Impairment testing of goodwill and nonfinancial assets other than goodwill

Nonfinancial assets, including identifiable intangible assets, are tested for impairment at the lowest level in which there are separately identifiable cash flows largely independent of the cash flows of other groups of assets or Cash Generating Units (“CGUs”).

As of September 30, 2024, and December 31, 2023, the Company identified 2 (two) CGUs in Argentina: (i) operated exploitation concessions of unconventional oil and gas exploration and production; and (ii) non-operating concessions of conventional oil and gas exploration and production.

The Company also identified only 1 (one) CGUs in Mexico: (i) operated exploitation concessions of conventional oil and gas exploration and production, as of September 30, 2024, and December 31, 2023.

The Company conducts its impairment test of nonfinancial assets when there is an indication that the carrying amount may be impaired. Moreover, Goodwill is tested every December. The Company bases the impairment test on the calculation of value in use and reviews the relationship between the recoverable amount and the carrying amount of its assets.

As of September 30, 2024, the Company did not identify indications of impairment or reversal of impairment related with goodwill and nonfinancial assets other than goodwill.

2.5 Regulatory framework

A-	Argentina

2.5.1 General

2.5.1.1 Bases law

On June 28, 2024, Argentina’s House of Representatives approved Law of Bases and Points of Departure for the Freedom of Argentineans No. 27,742, as well as Law of Palliative and Relevant Tax Measures No. 27,743 (jointly, “the Bases Law”). On July 8, 2024, the Bases Law was enacted through Presidential Decrees No. 592/2024 and No. 593/2024, respectively, published in the Official Bulletin.

These laws are part of the Argentine Executive’s initiative to deregulate the Argentine economy and adjust the State’s operation and structure. Among its key measures, the Bases Law declare a public administrative, economic, financial, and energetic emergency for a year, and grant the Executive delegated legislative powers. Additionally, they include several reforms aimed at promoting registered employment and introduce a package of tax and social security measures, among others.

Hydrocarbons Law (No. 17,319) was also amended as follows:

(i)	It introduces the principle of maximizing corporate profit from the exploitation of resources as it removes the concept of hydrocarbon self-supply previously in place;

(ii)	It authorizes the National or Provincial Executive, as the case may be, to issue storage permits and authorizations for hydrocarbon processing in compliance with Law No. 17,319;

(iii)

It grants producers rights to trade, transport, and industrialize hydrocarbons produced and by-products, and prevents the National Executive from intervening or setting prices;

(iv)	It allows for the free export and import of hydrocarbons and by-products. It also eliminates the Department of Energy’s authority to challenge export permits;

(v)	It amends the acquisition system and terms for unconventional concessions following the reconversion of conventional concessions;

(vi)	It authorizes the regulatory authority to grant concessions for terms other than those established in Hydrocarbons Law;

(vii)

It revises the extension system for new concessions;

(viii)

It mandates that new concessions be awarded through a bidding process upon expiration of existing concessions.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

The Bases Law also sets forth the creation of an Incentive Regime for Large Investments (the “RIGI” by Spanish acronym), which provides stability and offers tax, customs, and foreign exchange benefits for projects in various sectors, including the energy and oil & gas, subject to specific conditions.

The RIGI was established and published in the Official Bulletin on August 23, 2024, through Presidential Decree No. 749/2024, applicable to the oil & gas sector solely for the following activities: (i) construction of treatments plants, natural gas separation plants, oil & gas pipelines, and polyducts, and storage facilities; (ii) transportation and storage of liquid and gaseous hydrocarbons; (iii) petrochemical plants, including fertilizer production and refinery; (iv) natural gas production, collection, treatment, processing, fractioning, liquefaction and transportation for export of liquefied natural gas, as well as the infrastructure works required to develop the industry, and (v) offshore exploration and exploitation of liquid and gaseous hydrocarbons.

As of the date of issue of these interim condensed consolidated financial statements, the Bases Law had no significant impact on these.

2.5.1.2 Tax for an inclusive and solidary Argentina (“PAIS tax”)

On September 2, 2024, through Presidential Decree No. 777/2024, the Executive reduced to 7.50% the PAIS tax rate applicable to the acquisition of foreign currency for the payment of imports of goods and freight (See Note 30.2 of the consolidated financial statements as of December 31, 2023).

2.5.2 Gas market

2.5.2.1 Argentine promotion plan to stimulate natural gas production: 2020-2024 supply and demand system (“Gas IV Plan”)

For the nine-month period ended September 30, 2024 and 2023, the Company received a net amount of 2,387 and 3,491, respectively.

As of September 30, 2024, and December 31, 2023, the receivables related to such plan stand at 4,229 and 1,245, respectively (Note 15).

Other than mentioned above, there have been no significant changes in Argentina’s regulatory framework for the nine-month period ended September 30, 2024 (see Note 2.5 to the annual consolidated financial statements as of December 31, 2023).

B-	Mexico

There have been no significant changes in Mexico’s regulatory framework during the nine-month period ended September 30, 2024 (see Note 2.5 to the annual consolidated financial statements as of December 31, 2023).

2.6 Comparative Information

As of December 31, 2023 the Company has made a change in the “Export Duties” presentation in the “Royalties and others” (Note 5.3), which was previously included in “Revenues from contract with customers”.

The comparative information for the nine-month period ended September 30, 2023, has been reclassified to ensure consistent filing with the unaudited interim condensed consolidated financial statements as of September 30, 2024.

“Revenues from contract with customers” and “Royalties and others” increased by 35,704 for the nine-month periods ended September 30, 2023. These changes had no effect on the net profit for the nine-month period ended September 30, 2023.

Note 3. Segment information

The Chief Operating Decision Maker (the “Committee” or “CODM”) is in charge of allocating resources and assessing the performance of the operating segment. It supervises operating profit (loss), and the performance of the indicators related to its oil and gas properties on an aggregate basis to make decisions regarding the location of resources, negotiate with international suppliers and determine the method for managing contracts with customers.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

The CODM considers as a single segment the exploration and production of crude oil, natural gas and liquefied petroleum gas (“LPG”) (including Exploration and Production commercial activities), through its own activities, subsidiaries and interests in joint operations and based on the nature of the business, customer portfolio and risks involved. The Company aggregated no segment as it has only one.

For the nine-month periods ended September 30, 2024, and 2023, the Company generated 99% and 1% of its revenues related to assets located in Argentina and Mexico, respectively.

The accounting criteria used by the subsidiaries to measure profit or loss, assets and liabilities of the segments are consistent with those used in these unaudited interim condensed consolidated financial statements.

The following chart summarizes noncurrent assets per geographical area:


	As of September 30, 2024		As of December 31, 2023
Argentina		2,827,885		2,122,735
Mexico		45,661		49,364

Total noncurrent assets		2,873,546		2,172,099

Note 4. Revenue from contracts with customers

Type of products

Period from
January 1, through
September 30, 2024

Period from
January 1, through
September 30, 2023

Period from
July 1, through
September 30, 2024

Period from
July 1, through
September 30, 2023

Goods sold

1,176,450

859,578

462,383

302,760

Total revenue from contracts with customers

1,176,450

859,578

462,383

302,760

Recognized at a point in time

1,176,450

859,578

462,383

302,760

4.1 Information broken down by revenue from contracts with customers


Type of products	Period from January 1, through September 30, 2024		Period from January 1, through September 30, 2023		Period from July 1, through September 30, 2024		Period from July 1, through September 30, 2023
Revenues from crude oil sales		1,118,366		801,136		441,193		285,639
Revenues from natural gas sales		56,499		55,242		20,082		16,388
Revenues from LPG sales		1,585		3,200		1,108		733

Total revenue from contracts with customers		1,176,450		859,578		462,383		302,760


Distribution channels	Period from January 1, through September 30, 2024		Period from January 1, through September 30, 2023		Period from July 1, through September 30, 2024		Period from July 1, through September 30, 2023
Local crude oil for refineries		572,992		322,108		184,386		107,198
Exports of crude oil		545,374		479,028		256,807		178,441
Local natural gas		40,570		38,810		17,246		15,869
Exports of natural gas		15,929		16,432		2,836		519
LPG sales		1,585		3,200		1,108		733

Total revenue from contracts with customers		1,176,450		859,578		462,383		302,760

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Note 5. Cost of sales

5.1 Operating costs


	Period from January 1, through September 30, 2024		Period from January 1, through September 30, 2023		Period from July 1, through September 30, 2024		Period from July 1, through September 30, 2023
Fees and compensation for services		41,536		37,120		15,804		10,017
Salaries and payroll taxes		19,784		14,605		8,024		4,558
Employee benefits		6,501		4,464		2,755		1,573
Consumption of materials and spare parts		3,137		4,162		1,178		1,161
Transport		2,689		5,198		1,233		2,003
Easements and fees		2,412		3,796		926		1,220
Other		3,911		3,070		1,694		1,392

Total operating costs		79,970		72,415		31,614		21,924

5.2 Crude oil stock fluctuation


	Period from January 1, through September 30, 2024			Period from January 1, through September 30, 2023			Period from July 1, through September 30, 2024			Period from July 1, through September 30, 2023
Crude oil stock at beginning of the period (Note 17)		2,664			4,722			7,527			2,130
Less: Crude oil stock at end of the period (Note 17)		(471	)		(921	)		(471	)		(921	)

Total crude oil stock fluctuation		2,193			3,801			7,056			1,209

Note 5.3 Royalties and others


	Period from January 1, through September 30, 2024		Period from January 1, through September 30, 2023		Period from July 1, through September 30, 2024		Period from July 1, through September 30, 2023
Royalties		129,872		94,516		49,672		31,581
Export duties		40,182		35,704		18,810		13,074

Total royalties and others		170,054		130,220		68,482		44,655

Note 6. Selling expenses


	Period from January 1, through September 30, 2024		Period from January 1, through September 30, 2023		Period from July 1, through September 30, 2024		Period from July 1, through September 30, 2023
Transport		41,239		22,643		22,862		7,251
Taxes, rates and contributions		18,592		11,218		6,142		3,586
Fees and compensation for services		9,273		8,198		4,554		4,099
Tax on bank account transactions		8,703		7,563		3,270		2,737

Total selling expenses		77,807		49,622		36,828		17,673

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Note 7. General and administrative expenses


	Period from January 1, through September 30, 2024		Period from January 1, through September 30, 2023		Period from July 1, through September 30, 2024		Period from July 1, through September 30, 2023
Share-based payments		28,638		17,275		12,215		4,025
Salaries and payroll taxes		27,184		18,605		10,370		5,576
Fees and compensation for services		9,150		8,172		2,929		2,941
Employee benefits		4,011		3,109		1,598		1,211
Institutional promotion and advertising		1,185		1,487		446		426
Taxes, rates and contributions		609		816		430		200
Other		2,970		2,354		1,259		652

Total general and administrative expenses		73,747		51,818		29,247		15,031

Note 8. Other operating income and expenses

8.1 Other operating income


	Period from January 1, through September 30, 2024		Period from January 1, through September 30, 2023		Period from July 1, through September 30, 2024		Period from July 1, through September 30, 2023
Gain from Exports Increase Program		36,303		—		15,393		—
Other income		11,357		6,085		5,783		5,076
Gain related to the transfer of conventional assets⁽¹⁾		—		89,659		—		—
Gain from farmout agreement ⁽²⁾		—		24,429		—		18,773

Total other operating income		47,660		120,173		21,176		23,849

⁽¹⁾	See Note 1.2.1 to the annual consolidated financial statements as of December 31, 2023.

⁽²⁾

For the nine-month period ended September 30, 2023, including 26,650 of payments received by Trafigura Argentina S.A., related to the farmout agreement net of disposals of oil and gas properties and goodwill for 2,051 and 170, respectively. (See Note 29.2.1.1 to the annual consolidated financial statements as of December 31, 2023).

8.2 Other operating expenses


	Period from January 1, through September 30, 2024			Period from January 1, through September 30, 2023			Period from July 1, through September 30, 2024			Period from July 1, through September 30, 2023
(Provision for) environmental remediation ⁽¹⁾		(302	)		(427	)		(145	)		(41	)
(Provision for) reversal of provision for materials and spare parts obsolescence ⁽¹⁾		(174	)		1,140			96			196
(Provision for) reversal of contingencies ⁽¹⁾		(721	)		8			(125	)		(2	)
Restructuring and reorganization expenses ⁽²⁾		—			(276	)		—			—

Total other operating expenses		(1,197	)		445			(174	)		153

⁽¹⁾	These transactions did not generate cash flows.

⁽²⁾	The Company booked restructuring expenses including payments, fees and transaction costs related to the changes in the Group’s structure.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Note 9. Financial income (expense), net

9.1 Interest income

Period from
January 1, through
September 30, 2024

Period from
January 1, through
September 30, 2023

Period from
July 1, through
September 30, 2024

Period from
July 1, through
September 30, 2023

Financial interest

3,160

802

1,360

299

Total interest income

3,160

802

1,360

299

9.2 Interest expense


	Period from January 1, through September 30, 2024			Period from January 1, through September 30, 2023			Period from July 1, through September 30, 2024			Period from July 1, through September 30, 2023
Borrowings interest (Note 16.2)		(37,138	)		(16,205	)		(21,022	)		(4,842	)

Total interest expense		(37,138	)		(16,205	)		(21,022	)		(4,842	)

9.3 Other financial income (expense)


	Period from January 1, through September 30, 2024			Period from January 1, through September 30, 2023			Period from July 1, through September 30, 2024			Period from July 1, through September 30, 2023
Amortized cost (Note 16.2)		(1,060	)		(1,285	)		(376	)		(342	)
Net changes in foreign exchange rate		(2,305	)		10,531			9,474			6,509
Discount of assets and liabilities at present value		(408	)		2,943			(463	)		6,410
Changes in the fair value of financial assets		7,017			(12,222	)		9,104			(19,601	)
Interest expense on lease liabilities (Note 13)		(2,258	)		(2,137	)		(644	)		(645	)
Discount for well plugging and abandonment		(863	)		(1,788	)		(323	)		(673	)
Remeasurement in borrowings ⁽¹⁾		—			(48,967	)		—			(16,515	)
Other ⁽²⁾		4,019			(8,732	)		10,130			(2,518	)

Total other financial income (expense)		4,142			(61,657	)		26,902			(27,375	)

⁽¹⁾	Related to borrowings in purchasing value units (“UVA”, by Spanish acronym) adjusted by the benchmark stabilization coefficient (“CER”, by its Spanish acronym) (Note 16.2).

⁽²⁾	For the nine-month period ended September 30, 2024, including 9,988 of non-cash expense. For the nine-month period ended September 30, 2023, including 819 from loss for negotiable obligations (“ON”, by Spanish acronym) swapping (Note 16.1 and 16.2).

Note 10. Earnings per share

Basic

Basic earnings per share is calculated by dividing the Company’s profit by the weighted average number of ordinary shares outstanding during the period.


	Period from January 1, through September 30, 2024		Period from January 1, through September 30, 2023		Period from July 1, through September 30, 2024		Period from July 1, through September 30, 2023
Profit for the period, net		383,750		264,017		165,459		83,102
Weighted average number of ordinary shares		96,135,727		93,161,532		95,745,288		95,066,657

Basic earnings per share		3.992		2.834		1.728		0.874

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

b)	Diluted

Diluted earnings per share is calculated by dividing the Company’s profit by the weighted average number of ordinary shares outstanding during the period, plus the weighted average of dilutive potential ordinary shares.

Potential ordinary shares will be considered dilutive when their conversion to ordinary shares may reduce earnings per share or increase losses per share. They will be considered antidilutive when their conversion to ordinary shares may result in an increase in earnings per share or a reduction in loss per share.

The calculation of diluted earnings per share does not involve a conversion; the exercise or other issue of shares that may have an antidilutive effect on loss per share, or when the exercise price is higher than the average price of ordinary shares during the period, no dilution effect is booked, as diluted earnings per share is equal to basic earnings per share.


	Period from January 1, through September 30, 2024		Period from January 1, through September 30, 2023		Period from July 1, through September 30, 2024		Period from July 1, through September 30, 2023
Profit for the period, net		383,750		264,017		165,459		83,102
Weighted average number of ordinary shares ⁽¹⁾		99,863,026		99,093,135		99,557,121		101,178,620

Diluted earnings per share		3.843		2.664		1.662		0.821

⁽¹⁾	As of September 30, 2024, the Company has 95,195,887 outstanding shares (Note 19.1) that cannot exceed 98,781,028 shares. Likewise, in accordance with IFRS the average number of ordinary shares with a potential dilutive effect amounts to 99,863,026.

As of September 30, 2024, the Company holds 5,546,287 Series A shares to be used in the Long-Term Incentive Plan (“LTIP”), that, on the date of this unaudited interim condensed consolidated financial statements, are currently unvested. Consequently, they are not included in the weighted average number of ordinary shares to calculate diluted earnings per share.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Note 11. Property, plant and equipment

The changes in property, plant and equipment for the nine- month period ended September 30, 2024 are as follows:


	Land and buildings			Vehicles, machinery, facilities, computer hardware and furniture and fixtures			Oil and gas properties			Production wells and facilities			Works in progress			Materials and spare parts			Total
Cost
Amounts as of December 31, 2023		12,574			43,524			498,707			2,036,644			123,015			44,955			2,759,419
Additions		—			—			—			10,158	⁽¹⁾		763,536			182,960			956,654
Transfers		1,087			5,110			—			761,467			(620,258	)		(147,406	)		—
Disposals		—			(497	)		—			—			—			—			(497	)

Amounts as of September 30, 2024		13,661			48,137			498,707			2,808,269			266,293			80,509			3,715,576

Accumulated depreciation
Amounts as of December 31, 2023		(232	)		(15,239	)		(80,655	)		(735,534	)		—			—			(831,660	)
Depreciation		—			(4,378	)		(14,618	)		(268,203	)		—			—			(287,199	)
Disposals		—			276			—			—			—			—			276

Amounts as of September 30, 2024		(232	)		(19,341	)		(95,273	)		(1,003,737	)		—			—			(1,118,583	)

Net value
Amounts as of September 30, 2024		13,429			28,796			403,434			1,804,532			266,293			80,509			2,596,993

Amounts as of December 31, 2023		12,342			28,285			418,052			1,301,110			123,015			44,955			1,927,759

⁽¹⁾	Related to the re-estimation of well plugging and abandonment. This transaction did not generate cash flow.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Note 12. Goodwill and other intangible assets

Below are the changes in goodwill and other intangible assets for the nine-month period ended September 30, 2024:


	Goodwill		Other intangible assets
Cost
Amounts as of December 31, 2023		22,576		24,396
Additions		—		5,138

Amounts as of September 30, 2024		22,576		29,534

Accumulated amortization
Amounts as of December 31, 2023		—		(14,370	)
Amortization		—		(4,117	)

Amounts as of September 30, 2024		—		(18,487	)

Net value
Amounts as of September 30, 2024		22,576		11,047

Amounts as of December 31, 2023		22,576		10,026

Note 13. Right-of-use assets and lease liabilities

The carrying amount of the Company’s right-of-use assets and lease liabilities, as well as the changes for the nine-month period ended September 30, 2024, are detailed below:


	Right-of-use assets									Total lease liabilities
	Buildings			Plant and machinery			Total			Total lease liabilities
Amounts as of December 31, 2023		388			60,637			61,025			(70,468	)
Reestimation		1,428			1,002			2,430			(2,504	)
Additions		14,292			—			14,292			—
Depreciation ⁽¹⁾		(512	)		(23,065	)		(23,577	)		—
Payments		—			—			—			32,849
Interest expense ⁽²⁾		—			—			—			(5,125	)

Amounts as of September 30, 2024		15,596			38,574			54,170			(45,248	)

⁽¹⁾	Including the depreciation of drilling services capitalized as “Works in progress” for 16,812.

⁽²⁾	Including drilling agreements capitalized as “Works in progress” for 2,867.

Short-term and low-value lease agreements were recognized under “General and administrative expenses” in the statements of profit or loss and other comprehensive income for 92 and 54 for the nine-month periods ended September 30, 2024 and 2023, respectively.

Note 14. Income tax

The most significant components of the income tax expense in the statements of profit or loss and other comprehensive income of these interim condensed consolidated financial statements are as follows:


	Period from January 1, through September 30, 2024			Period from January 1, through September 30, 2023			Period from July 1, through September 30, 2024			Period from July 1, through September 30, 2023
Income tax
Current income tax		(319,391	)		(55,963	)		(149,989	)		(1,378	)
Deferred income tax		237,001			(57,926	)		120,908			(29,251	)

Income tax (expense) charged to statement of profit or loss		(82,390	)		(113,889	)		(29,081	)		(30,629	)

Deferred income tax charged to other comprehensive income		5,209			346			5,232			(31	)

Total income tax (expense)		(77,181	)		(113,543	)		(23,849	)		(30,660	)

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

For the nine-month period ended September 30, 2024, the Company’s effective rate was 18%. The differences between the effective and statutory rate mainly include: (i) the application of the tax adjustment for inflation in Argentina; (ii) the depreciation of the Argentine peso (“ARS”) with respect to the USD affecting the Company’s tax deductions of nonmonetary assets; and (iii) the accumulative tax losses not recognized in the period. (See Note 30 to the annual consolidated financial statements as of December 31, 2023).

Note 15. Trade and other receivables


	As of September 30, 2024		As of December 31, 2023
Noncurrent
Other receivables:
Prepayments, tax receivables and other:
Midstream prepaid expenses ⁽¹⁾		108,009		34,660
Receivables related to the transfer of conventional assets ⁽²⁾		38,598		70,526
Prepaid expenses and other receivables		17,228		27,414
Income tax		11,612		—
Turnover tax		426		5
Value added tax (“VAT”)		—		462

		175,873		133,067
Financial assets:
Receivables from joint operations		1,702		2,936
Loans to employees		355		348

		2,057		3,284

Total noncurrent trade and other receivables		177,930		136,351

Current
Trade:
Oil and gas accounts receivable (net of allowance for expected credit losses)		139,899		59,787

		139,899		59,787
Other receivables:
Prepayments, tax credits and other:
Receivables related to the transfer of conventional assets		81,811		86,043
VAT		74,980		19,713
Prepaid expenses and other receivables		11,027		9,381
Midstream prepaid expenses ⁽¹⁾		6,820		—
Income tax		1,098		13,409
Turnover tax		1,074		385

		176,810		128,931
Financial assets:
Accounts receivable from third parties		22,485		7,804
Receivables from joint operations		5,382		6,581
Gas IV Plan (Note 2.5.2.1)		4,229		1,245
Advances to directors and loans to employees		628		557
Other		241		197

		32,965		16,384

Other receivables		209,775		145,315

Total current trade and other receivables		349,674		205,102

⁽¹⁾	Related to the Duplicar Plus Project implemented by Oleoductos del Valle S.A. and the project to expand the Puerto Rosales maritime terminal and pumping station implemented by Oiltanking Ebytem S.A. (See Note 28.1 and 28.2 to the annual consolidated financial statements as of December 31, 2023)

⁽²⁾

Related to the agreement signed with Petrolera Aconcagua Energía S.A. connected with the transfer of conventional assets. For the period ended September 30, 2024, the Company recognized 25,049 mainly related to the amortization of the account receivable, in the unaudited interim condensed consolidated statement of profit or loss under “Other non-cash costs related to the transfer of conventional assets”. (See Note 1.2.1 to the annual consolidated financial statements as of December 31, 2023).

Due to the short-term nature of current trade and other receivables, it carrying amount is considered similar to its fair value. The fair values of noncurrent trade and other receivables do not differ significantly from it carrying amounts either.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

As of September 30, 2024, in general, accounts receivable has a 16-day term for sales of crude oil and a 57-day term for sales of natural gas and LPG.

The Company sets up a provision for trade receivables when there is information showing that the debtor is facing severe financial difficulties and that there is no realistic probability of recovery, for example, when the debtor goes into liquidation or files for bankruptcy proceedings. Trade receivables that are derecognized are not subject to compliance activities. The Company recognized an allowance for expected credit losses of 100% against all trade receivables that are 90 days past due because based on its history these receivables are generally not recovered.

As of September 30, 2024, and December 31, 2023, an allowance for expected credit losses was recorded in trade and other receivables for 43 and 52 respectively.

As of the date of these interim condensed consolidated financial statements, maximum exposure to credit risk is related to the carrying amount of each class of accounts receivable.

Note 16. Financial assets and liabilities

16.1 Borrowings


	As of September 30, 2024		As of December 31, 2023
Noncurrent
Borrowings		725,239		554,832

Total noncurrent		725,239		554,832

Current
Borrowings		249,991		61,223

Total current		249,991		61,223

Total Borrowings		975,230		616,055

Below are the maturity dates of Company borrowings (excluding lease liabilities) and their exposure to interest rates:


	As of September 30, 2024		As of December 31, 2023
Fixed interest
Less than 1 year		249,607		60,373
From 1 to 2 years		209,412		81,900
From 2 to 5 years		450,541		392,550
Over 5 years		40,286		55,382

Total		949,846		590,205


Variable interest
Less than 1 year		384		850
From 1 to 2 years		—		—
From 2 to 5 years		25,000		25,000
Over 5 years		—		—

Total		25,384		25,850

Total Borrowings		975,230		616,055

See Note 16.4 for information on the fair value of the borrowings.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

The carrying amount of borrowings as of September 30, 2024 and December 31, 2023 of the Company through its subsidiary Vista Argentina, is as follows:

Company

Execution
date

Currency

Principal

Interest

Annual
rate

Maturity
date

As of
September 30,
2024

As of
December 31,
2023

Santander

International

January, 2021

USD

11,700

Fixed

1.80%

January, 2026

⁽¹⁾

Santander

International

July, 2021

USD

43,500

Fixed

2.05%

July, 2026

⁽¹⁾

Santander

International

January, 2022

USD

13,500

Fixed

2.45%

January, 2027

⁽¹⁾

ConocoPhillips Company

January, 2022

USD

25,000

Variable

SOFR⁽²⁾

+ 2.01%

September, 2026

25,384

25,850

Citibank N.A.

April, 2024

USD

45,000

Fixed

5.00%

April, 2026

45,366

—

Banco BBVA Argentina

April, 2024

ARS⁽³⁾

7,000,000

Fixed

55.00%

November, 2024

7,539

—

Banco Ciudad de Buenos Aires

May, 2024

USD

12,000

Fixed

2.50%

November, 2024

12,108

—

Banco Santander Argentina

May, 2024

ARS⁽³⁾

15,000,000

Fixed

41.22%

November, 2024

17,746

—

Banco BBVA Argentina

May, 2024

ARS⁽³⁾

10,000,000

Fixed

43.40%

December, 2024

11,835

—

Banco Santander Argentina

June, 2024

ARS⁽³⁾

40,000,000

Fixed

43.00%

December, 2024

46,800

—

Banco Santander Argentina

June, 2024

ARS⁽³⁾

2,000,000

Fixed

41.22%

November, 2024

2,328

—

Banco Galicia

July, 2024

ARS⁽³⁾

40,000,000

Fixed

43.00%

December, 2024

45,586

—

Banco Patagonia S.A.

July, 2024

USD

548

Fixed

11.00%

January, 2025

561

—

Banco de la Nación Argentina

September, 2024

USD

222

Fixed

9.23%

November, 2024

223

—

Eurobanco Bank Ltd.

September, 2024

USD

40,000

Fixed

7.00%

November, 2024

40,093

—

Santander International

September, 2024

USD

30,000

Fixed

6.75%

January, 2025

⁽¹⁾

—

Macro Bank Ltd.

September, 2024

USD

30,000

Fixed

7.00%

November, 2024

5,056

⁽⁴⁾

—

Total

260,848

26,025

⁽¹⁾	The carrying amount is related to interest, and the principal is collateralized.

⁽²⁾	Secured Overnight Financing Rate (“SOFR”).

⁽³⁾	Principalexpressed in thousands of ARS.

⁽⁴⁾	The carrying amount is related to interest, and 25,000 of the principal is collateralized.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Moreover, Vista Argentina issued ON, under the name “Programa de Notas” approved by the National Securities Commission in Argentina (“CNV” by its Spanish acronym). The following chart shows the carrying amount of ON of September 30, 2024 and December 31, 2023:


Instrument	Execution date		Currency		Principal			Interest		Annual rate		Maturity date		As of September 30, 2024			As of December 31, 2023
ON VI		December, 2020		USD-linked⁽¹⁾		10,000			Fixed		3.24%		December, 2024		10,018			9,997
ON XI		August, 2021		USD-linked⁽¹⁾		9,230			Fixed		3.48%		August, 2025		9,244			9,231
ON XII		August, 2021		USD-linked⁽¹⁾		100,769			Fixed		5.85%		August, 2031		96,043			102,556
ON XIII		June, 2022		USD		43,500			Fixed		6.00%		August, 2024		—			43,458
ON XIV		November, 2022		USD		40,511			Fixed		6.25%		November, 2025		37,141			36,484
ON XV		December, 2022		USD		13,500			Fixed		4.00%		January, 2025		13,522			13,476
ON XVI		December, 2022		USD-linked⁽¹⁾		63,450			Fixed		0.00%		June, 2026		63,379			63,231
		May, 2023		USD-linked⁽¹⁾		40,785	⁽²⁾		Fixed		0.00%		June, 2026		40,525			40,525
ON XVII		December, 2022		USD-linked⁽¹⁾		39,118			Fixed		0.00%		December, 2026		38,991			38,948
ON XVIII		March, 2023		USD-linked⁽¹⁾		118,542			Fixed		0.00%		March, 2027		118,112			117,979
ON XIX		March, 2023		USD-linked⁽¹⁾		16,458			Fixed		1.00%		March, 2028		16,409			16,396
ON XX		June, 2023		USD		13,500			Fixed		4.50%		July, 2025		13,445			13,357
ON XXI		August, 2023		USD-linked⁽¹⁾		70,000			Fixed		0.99%		August, 2028		69,805			69,749
ON XXII		December, 2023		USD		14,669			Fixed		5.00%		June, 2026		14,828			14,643
ON XXIII		March, 2024		USD		60,000			Fixed		6.50%		March, 2027		39,905	⁽³⁾		—
		May, 2024		USD		32,203			Fixed		6.50%		March, 2027		32,157			—
ON XXIV		May, 2024		USD		46,562			Fixed		8.00%		May, 2029		47,779			—
ON XXV		July, 2024		USD-linked⁽¹⁾		53,195			Fixed		3.00%		July, 2028		53,079			—

Total															714,382			590,030

Total Borrowings															975,230			616,055

⁽¹⁾	Subscribed in USD, payable in ARS at the exchange rate applicable on maturity date.

⁽²⁾	On May 29, 2023, the Company settled ON VII by: (i) issuing additional ON XVI for 40,785 (which generated no cash flows); and (ii) paid remind principal and interest. The Company recognized 819 related to the loss from the issuance of the swap mentioned (Note 9.3).

⁽³⁾	The carrying amount includes 20,000 ON repurchased by the Company.

See Note 28 for information on subsequent borrowings events.

Under the aforementioned program, Vista Argentina may list ON in Argentina for a total principal up to 1,500,000 or its equivalent in other currencies at any time.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

16.2 Changes in liabilities from financing activities

Changes in the borrowings were as follows:


	As of September 30, 2024			As of December 31, 2023
Amounts at beginning of period		616,055			549,332
Proceeds from borrowings ⁽¹⁾		485,017			358,954
Payment of borrowings principal ⁽¹⁾		(130,647	)		(252,284	)
Payment of borrowings interest		(20,714	)		(22,993	)
Payment of borrowings cost		(1,437	)		(1,779	)
Borrowings interest ⁽²⁾ (Note 9.2)		37,138			21,879
Amortized cost ⁽²⁾ (Note 9.3)		1,060			1,810
Remeasurement in borrowings ⁽²⁾		—			72,044
Changes in foreign exchange rate ⁽²⁾		(11,242	)		(111,727	)
Other financial expense ⁽³⁾ (Note 9.3)		—			819

Amounts at end of period		975,230			616,055

⁽¹⁾	As of December 31, 2023, proceeds of borrowings and payment of borrowings principal include 40,785 related to the ON swapping mentioned in Note 16.1. These transactions did not generate cash flows.

⁽²⁾	These transactions did not generate cash flows.

⁽³⁾	Related to ON VIII and X, which amounts were in UVA and adjusted by CER. As of December 31, 2023, they were pre- settled by the Company.

16.3 Financial instruments by category

The following chart includes the financial instruments broken down by category:


As of September 30, 2024	Financial assets / liabilities at amortized cost		Financial assets / liabilities at fair value		Total financial assets / liabilities
Assets
Plan assets (Note 24)		—		4,383		4,383
Trade and other receivables (Note 15)		2,057		—		2,057

Total noncurrent financial assets		2,057		4,383		6,440

Cash, bank balances and other short-term investments (Note 18)		58,660		151,715		210,375
Trade and other receivables (Note 15)		172,864		—		172,864

Total current financial assets		231,524		151,715		383,239

Liabilities
Borrowings (Note 16.1)		725,239		—		725,239
Lease liabilities (Note 13)		28,677		—		28,677

Total noncurrent financial liabilities		753,916		—		753,916

Borrowings (Note 16.1)		249,991		—		249,991
Trade and other payables (Note 23)		402,713		—		402,713
Lease liabilities (Note 13)		16,571		—		16,571

Total current financial liabilities		669,275		—		669,275

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)


As of December 31, 2023	Financial assets / liabilities at amortized cost		Financial assets / liabilities at fair value		Total financial assets / liabilities
Assets
Plan assets (Note 24)		—		5,438		5,438
Trade and other receivables (Note 15)		3,284		—		3,284

Total noncurrent financial assets		3,284		5,438		8,722

Cash, bank balances and other short-term investments (Note 18)		35,292		156,163		191,455
Trade and other receivables (Note 15)		76,171		—		76,171

Total current financial assets		111,463		156,163		267,626

Liabilities
Borrowings (Note 16.1)		554,832		—		554,832
Lease liabilities (Note 13)		35,600		—		35,600

Total noncurrent financial liabilities		590,432		—		590,432

Borrowings (Note 16.1)		61,223		—		61,223
Trade and other payables (Note 23)		205,055		—		205,055
Lease liabilities (Note 13)		34,868		—		34,868

Total current financial liabilities		301,146		—		301,146

Below are income, expenses, profit, or loss from each financial instrument:

For the nine-month period ended September 30, 2024:


	Financial assets/ liabilities at amortized cost			Financial assets/ liabilities at fair value		Total financial assets / liabilities
Interest income (Note 9.1)		3,160			—		3,160
Interest expense (Note 9.2)		(37,138	)		—		(37,138	)
Amortized cost (Note 9.3)		(1,060	)		—		(1,060	)
Net changes in foreign exchange rate (Note 9.3)		(2,305	)		—		(2,305	)
Discount of assets and liabilities at present value (Note 9.3)		(408	)		—		(408	)
Changes in the fair value of financial assets (Note 9.3)		—			7,017		7,017
Interest expense on lease liabilities (Note 9.3)		(2,258	)		—		(2,258	)
Discount for well plugging and abandonment (Note 9.3)		(863	)		—		(863	)
Other (Note 9.3)		4,019			—		4,019

Total		(36,853	)		7,017		(29,836	)

For the nine-month period ended September 30, 2023:


	Financial assets/ liabilities at amortized cost			Financial assets/ liabilities at fair value			Total financial assets / liabilities
Interest income (Note 9.1)		802			—			802
Interest expense (Note 9.2)		(16,205	)		—			(16,205	)
Amortized cost (Note 9.3)		(1,285	)		—			(1,285	)
Net changes in foreign exchange rate (Note 9.3)		10,531			—			10,531
Discount of assets and liabilities at present value (Note 9.3)		2,943			—			2,943
Changes in the fair value of financial assets (Note 9.3)		—			(12,222	)		(12,222	)
Interest expense on lease liabilities (Note 9.3)		(2,137	)		—			(2,137	)
Discount for well plugging and abandonment (Note 9.3)		(1,788	)		—			(1,788	)
Remeasurement in borrowings (Note 9.3)		(48,967	)		—			(48,967	)
Other (Note 9.3)		(8,732	)		—			(8,732	)

Total		(64,838	)		(12,222	)		(77,060	)

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

16.4 Fair value

This note includes information on the Company’s method for assessing the fair value of its financial assets and liabilities.

16.4.1 Fair value of the Company’s financial assets and liabilities measured at fair value on a recurring basis

The Company classifies the measurements at fair value of financial instruments using a fair value hierarchy, which shows the relevance of the variables applied to carry out these measurements. The fair value hierarchy has the following levels:

•

Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities.

•

Level 2: data other than the quoted prices included in Level 1 that are observable for assets or liabilities, either directly (that is prices) or indirectly (that is derived from prices).

•

Level 3: data on the asset or liability that are based on information that cannot be observed in the market (that is, non-observable data).

The following chart shows the Company’s financial assets measured at fair value as of September 30, 2024 and December 31, 2023:


As of September 30, 2024	Level 1		Level 2		Level 3		Total
Assets
Financial assets at fair value through profit or loss
Plan assets		4,383		—		—		4,383
Short-term investments		151,715		—		—		151,715

Total assets		156,098		—		—		156,098


As of December 31, 2023	Level 1		Level 2		Level 3		Total
Assets
Financial assets at fair value through profit or loss
Plan assets		5,438		—		—		5,438
Short-term investments		156,163		—		—		156,163

Total assets		161,601		—		—		161,601

The value of financial instruments traded in active markets is based on quoted market prices as of the date of these accompanying unaudited interim condensed consolidated financial statements. A market is considered active when quoted prices are available regularly through a stock exchange, a broker, a specific sector entity or regulatory agency, and these prices reflect regular and current market transactions between parties at arm’s length. The quoted market price used for financial assets held by the Company is the current offer price. These instruments are included in Level 1.

For financial instruments not traded in an active market, the fair value is determined using appropriate valuation techniques. These valuation techniques maximize the use of observable market data, when available, and minimize the use of Company’s specific estimates. Should all significant variables used to establish the fair value of a financial instrument be observable, the instrument is included in Level 2.

Should one or more variables used in determining the fair value not be observable in the market, the financial instrument is included in Level 3.

There were no transfers between Level 1, Level 2 and Level 3 from December 31, 2023, through September 30, 2024.

16.4.2 Fair value of financial assets and liabilities that are not measured at fair value (but require fair value disclosures)

Except for the information included in the following chart, the Company considers that the carrying amounts of financial assets and liabilities recognized in the interim condensed consolidated financial statements approximate to its fair values, as explained in the related notes.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

As of September 30, 2024

Carrying amount

Fair value

Level

Liabilities

Borrowings

975,230

792,826

Total liabilities

975,230

792,826

16.5 Risk management objectives and policies concerning financial instruments

16.5.1 Financial risk factors

The Company’s activities are exposed to several financial risks: market risk (including exchange rate risk, interest rate risk and price risk), credit risk and liquidity risk.

Financial risk management is included in the Company’s global policies, and it adopts a comprehensive risk management policy focused on tracking risks affecting the entire Company. This strategy aims at striking a balance between profitability targets and risk exposure levels. Financial risks are derived from the financial instruments to which the Company is exposed during each period or as of every period-end.

The Company’s financial department, controls financial risk by identifying, assessing and covering financial risks. The risk management systems and policies are reviewed regularly to show the changes in market conditions and the Company’s activities.

The Company reviewed its exposure to financial risk factors and identified no significant changes in the risk analysis included in its annual consolidated financial statements as of December 31, 2023, except for the following:

16.5.1.1 Market risk

Exchange rate risk

The Company’s financial position and results of operations are sensitive to exchange rate changes between USD and ARS. As of September 30, 2024 and 2023, the Company performed foreign exchange currency transactions, and the impact in the results of the period is recognized in “Other financial income (expense)”.

Most Company sales are denominated in USD, or the changes in sales follow the changes in USD listed price.

During the nine-month period ended September 30, 2024 and 2023, ARS depreciated by about 20% and 98%, respectively.

The following chart shows the sensitivity to a modification in the exchange rate of ARS to USD while maintaining the remainder variables constant. Impact on profit before taxes is related to changes in the fair value of monetary assets and liabilities denominated in currencies other than the USD, the Company’s functional currency. The Company’s exposure to changes in foreign exchange rates for the remainder currencies is immaterial.


		As of September 30, 2024
Changes in exchange rate:		+/- 10%
Effect on profit or loss before income taxes		9,686 / (9,686)
Effect on equity before income taxes		9,686 / (9,686)

Interest rate risk

For the nine-month periods ended September 30, 2024, and 2023, the average market interest rate in Argentina was 62% and 95%, respectively.

The purpose of interest rate risk management is to minimize finance costs and limit the Company’s exposure to interest rate increases.

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Variable-rate indebtedness exposes the Company’s cash flows to interest rate risk due to the potential volatility. Fixed-rate indebtedness exposes the Company to interest rate risk on the fair value of its liabilities as they could be considerably higher than variable rates. As of September 30, 2024, and December 31, 2023, about 3% and 4% of indebtedness was subject to variable interest rates, respectively.

For the nine-month period ended September 30, 2024, and for the year ended December 31, 2023, the variable interest rate of loans denominated in USD stood at 7.31% and 9.32%, respectively.

The Company expects to lessen its interest rate exposure by analyzing and assessing (i) the different sources of liquidity available in domestic and international financial and capital markets (if available); (ii) alternative (fixed or variable) interest rates, currencies and contractual terms available for companies in a sector, industry and risk similar to the Company’s; and (iii) the availability, access and cost of interest rate hedge contracts. Hence, the Company assesses the impact on profit or loss of each strategy on the obligations that represent the main positions to the main interest-bearing positions.

In the case of fixed rates and in view of current market conditions, the Company considers that the risk of an increase in interest rates is low; therefore, it does not expect substantial fixed rate debt risk.

For the nine-month period ended September 30, 2024, and for the year ended December 31, 2023, the Company did not use derivative financial instruments to mitigate interest rate risks.

Note 17. Inventories


	As of September 30, 2024		As of December 31, 2023
Materials and spare parts		1,906		4,651
Crude oil stock (Note 5.2)		471		2,664
Assigned crude oil stock		57		234

Total inventories		2,434		7,549

Note 18. Cash, bank balances and other short-term investments


	As of September 30, 2024		As of December 31, 2023
Mutual funds		144,750		152,426
Money market funds		58,660		35,292
Cash in banks		45,652		21,798
Government bonds		6,965		3,737

Total cash, banks balances and other short-term investments		256,027		213,253

Cash and cash equivalents include cash on hand and at bank and investments maturing within 3 months. For the consolidated statement of cash flows purposes below is the reconciliation between cash, bank and short-term investments and cash and cash equivalents:


	As of September 30, 2024			As of December 31, 2023
Cash, bank balances and other short-term investments		256,027			213,253
Less
Government bonds		(6,965	)		(3,737	)

Cash and cash equivalents		249,062			209,516

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Note 19. Equity

19.1 Capital stock

The following chart shows a reconciliation of the movements in the Company’s capital stock for the nine-month period ended September 30, 2024:


	Series A			Series C		Total
Amounts as of December 31, 2023		517,874			—		517,874
Number of shares		95,355,430			2		95,355,432

Share repurchase		(99,846	)		—		(99,846	)
Number of shares repurchased ⁽¹⁾		(2,081,198	)		—		(2,081,198	)
Shares to be granted in LTIP		1			—		1
Number of shares		1,921,653			—		1,921,653

Amounts as of September 30, 2024		418,029			—		418,029
Number of shares		95,195,885			2		95,195,887

⁽¹⁾	As of the date of issuance of these interim condensed consolidated financial statements, the shares repurchased are held in the Treasury.

As of September 30, 2024 and December 31, 2023, the Company’s authorized capital includes 33,596,354 and 33,436,809 Series A ordinary shares, respectively, held in Treasury.

As of September 30, 2024 the Company holds the 2 (two) outstanding Series C shares.

See Note 21 to the annual consolidated financial statements as of December 31, 2023.

19.2 Share repurchase reserve

On August 6, 2024, through the Ordinary General Shareholders’ Meeting, the Company’s shareholders approved an increase of a fund to acquire own shares for 50,000 based on the Company’s nonconsolidated financial statements.

Note 20. Provisions


	As of September 30, 2024		As of December 31, 2023
Noncurrent
Well plugging and abandonment		25,620		12,191
Environmental remediation		262		148

Total noncurrent provisions		25,882		12,339

Current
Well plugging and abandonment		4,140		3,096
Environmental remediation		835		936
Contingencies		77		101

Total current provisions		5,052		4,133

Note 21. Salaries and payroll taxes


	As of September 30, 2024		As of December 31, 2023
Current
Provision for bonuses and incentives		16,847		12,657
Salaries and social security contributions		9,196		4,898

Total current salaries and payroll taxes		26,043		17,555

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

Note 22. Other taxes and royalties


	As of September 30, 2024		As of December 31, 2023
Current
Royalties and others		24,205		33,862
Tax withholdings		3,894		1,603
Other		560		1,084

Total current other taxes and royalties		28,659		36,549

Note 23. Trade and other payables


	As of September 30, 2024		As of December 31, 2023
Current
Accounts payables:
Suppliers		402,035		204,696

Total current accounts payables		402,035		204,696

Other accounts payables:
Extraordinary fee for Gas IV Plan		571		162
Payables to partners of joint operations		107		197

Total other current accounts payables		678		359

Total current trade and other payables		402,713		205,055

Other than mentioned above, due to the short-term nature of current trade and other payables, their carrying amount is deemed to be the same as its fair value. The carrying amount of noncurrent trade and other payable does not differ considerably from its fair value.

Note 24. Employee benefits

The following chart summarizes net expense components and the changes in the liability for long-term employee benefits in the unaudited interim condensed consolidated financial statements:


	Period from January 1, through September 30, 2024			Period from January 1, through September 30, 2023			Period from July 1, through September 30, 2024			Period from July 1, through September 30, 2023
Cost of interest		(218	)		(469	)		(64	)		(169	)
Cost of services		(5	)		(19	)		(2	)		(7	)
Settlement		—			364			—			—

Total		(223	)		(124	)		(66	)		(176	)


	As of September 30, 2024
	Present value of the obligation			Plan assets			Net liabilities
Amounts at beginning of period		(11,295	)		5,592			(5,703	)
Items classified as loss or profit
Cost of interest		(405	)		187			(218	)
Cost of services		(5	)		—			(5	)
Items classified in other comprehensive income
Actuarial remeasurement gain		(14,991	)		108			(14,883	)
Payment of contributions		1,283			(992	)		291

Amounts at end of period		(25,413	)		4,895			(20,518	)

VISTA ENERGY, S.A.B. DE C.V.

Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2024 and December 31, 2023 and for the nine-month periods ended September 30, 2024 and 2023

(Amounts expressed in thousands of US Dollars, except otherwise indicated)

The fair value of plan assets as of every year end per category, is as follows:


	As of September 30, 2024		As of December 31, 2023
US government bonds		4,383		5,438
Cash and cash equivalents		512		154

Total		4,895		5,592

See Note 23 to the annual consolidated financial statements as of December 31, 2023.

Note 25. Related parties’ transactions and balances

As of September 30, 2024 and December 31, 2023, the Company carries no balances with related parties and relevant transactions other than those included in Note 27 to the annual consolidated financial statements as of December 31, 2023.

Note 2.3 to the annual consolidated financial statements as of December 31, 2023, provides information on the Group’s structure, including information on Company subsidiaries.

Note 26. Commitments and contingencies

There were no significant changes in commitments and contingencies for the nine-month period ended September 30, 2024 (See Notes 28 and 29 to the annual consolidated financial statements as of December 31, 2023).

Note 27. Tax regulations

Other than mentioned in Note 2.5.1.1 and 2.5.1.2, there were no other significant changes in Argentina’s and Mexico’s tax regulations during the nine-month period ended September 30, 2024 (See Note 30 to the annual consolidated financial statements as of December 31, 2023).

Note 28. Subsequent events

The Company assessed events subsequent to September 30, 2024, to determine the need of a potential recognition or disclosure in these interim condensed consolidated financial statements. The Company assessed such events through October 23, 2024, date in which these financial statements were made available for issue.

•

On October 1, 2024, Vista Argentina paid interest for an amount of 326 corresponding to loan agreement signed with Banco BBVA Argentina in April 2024.

•

On October 2, 2024, Vista Argentina signed a loan agreement with Banco de la Nación Argentina for a total amount of ARS 30,880; at an annual interest rate of 39.63%, and expiration date in March 2025.

•

On October 4, 2024, Vista Argentina paid interest for an amount of 110 corresponding to loan agreement signed with Banco Santander International in January 2021, July 2021 and January 2022.

•

On October 8, 2024, Vista Argentina, paid interest corresponding to ON XXV for an amount of 402.

•

On October 10, 2024, Vista Argentina, issued ON XXVI for an amount of 150,000, at an annual interest rate of 7.65%, and expiration date in October 2031. Additionally, Vista Argentina paid principal and interest for an amount of 141 corresponding to loan agreement signed with Banco Patagonia.

•

On October 16, 2024, Vista Argentina cancelled ON XIV for an amount of principal and interest of 37,366.

•

On October 18, 2024, Vista Argentina cancelled loan agreements signed with Eurobanco Bank Ltd., Macro Bank Ltd. y Santander International in September 2024, for an amount of principal and interest of 40,233, 30,161 y 30,214, respectively.

There are no other events or transactions between the closing date and the date of issuance of these unaudited interim condensed consolidated financial statements that could significantly affect the Company’s financial position or profit or loss.