2024年第三季度盈利網絡研討會，將於2024年10月24日舉行。
02 關於預測和前瞻性聲明其他信息 關於 Vista Energy S.a.b. de C.V.，根據墨西哥法律組織的獨立資本發行變數社（「公司」或「Vista」），可在網站的「投資者」部分中找到 網址：維斯塔能源網站。本聲明並不構成在任何司法管轄區內出售或徵求購買本公司任何證券的提議。沒有註冊，證券不得在美國發售或出售 向美國證券交易委員會（「SEC」）、墨西哥國家銀行證券監察委員會（「CNBV」）持有的墨西哥國家證券註冊處或豁免此類註冊。此簡報 不包含公司的所有財務信息。因此，投資者應閱讀本簡報與本公司的合併財務報表及其他可用於本公司的財務資料。 公司的網站。此處所包含的所有金額均未經審核。四捨五入金額和百分比：此簡報中包含的某些金額和百分比已經四捨五入，以便於呈現。其中包含的百分比數字 在所有情況下，並非所有情況下都是根據這些四捨五入數字計算，而是根據四捨五入前的數字計算出來。因此，本演示中的某些百分比金額可能與執行中獲得的百分比不同 使用財務報表中的數字進行相同的計算。此外，由於四捨五入，此簡報中出現的某些其他金額可能無法總和。 此簡報包含某些沒有標準化含義的指標 或標準計算方法，因此該等措施可能無法與其他公司使用的類似措施相比。這些指標已包含在此處，以為讀者提供額外的措施來評估公司的 表現；然而，這些指標並不是公司未來表現的可靠指標，未來表現可能無法與以前期間的表現相比。不應以任何目的而依賴 本文件中包含的信息或其完整性。本文稿中包含的某些信息是從已發表的來源獲得，這些資料可能未經獨立驗證或審核。沒有陳述或保證， 明示或暗示的，由本公司或其任何附屬公司（根據本法規第 405 條的「關聯公司」）、成員、董事、官員或僱員或任何其他人士（以下稱為「關聯公司」）提供或將由本公司或其代表提供或將提供的。 關於本簡報內容或任何其他口頭討論的資料或意見的準確性、完整性或公平性，以及閣下對這些資料的任何依賴，均須自行承擔風險。任何 本文提供的意見基於撰寫本文時收集的一般信息，如有更改，恕不另行通知。此外，沒有任何責任、義務或責任（無論是直接或間接、合同、違法或其他方式） 本公司或其任何關聯方就該等資訊或意見或任何其他相關事項或與本文介紹或其內容有關的任何其他事項，或將接受本公司或其任何相關人士接受。此簡報 還包括某些非 IFRS（國際財務報告標準）財務指標，這些財務指標在任何期間都沒有受財務審計。本簡報中包含的信息和意見是截至當日提供 本簡報內容如有核實、完成及更改，恕不另行通知。本簡報包括有關未來的「前瞻性聲明」。這些詞，例如「相信」，「思考」 「預測」、「預期」、「預期」、「擬定」、「應該」、「尋求」、「估計」、「未來」或類似的表達包括以下目的是 識別有關未來的聲明。為了避免任何疑問，任何有關未來或未來的結果、績效或成就的預測、指引或類似估計均為前瞻性聲明。儘管假設和 我們的管理層認為基於前瞻性聲明的估計是合理的，並根據目前可用的最佳信息，這些前瞻性聲明基於本質上的假設基於 重大的不確定性和應變情況，其中許多情況都超出我們的控制。實際結果和預測結果之間會存在差異，實際結果可能大於或實質小於中包含的結果 投影。與生產結果以及成本估計相關的預測-包括本簡報中包含的 Vista 預期的 2024 和 2025 年的績效和指引-基於截至當日的信息 本介紹並反映了許多假設，包括有關新井設計的類型曲線的假設和某些差距期望的假設，這些假設都很難預測，其中許多都是我們的控制以外的。 仍然存在多種風險和不確定性。將預計財務資料納入本文件中，不應視為我們或我們的管理層認為或認為預測是可靠的指標。 預測未來事件。因此，對未來結果、績效或成就的預測、指引或其他估計的可能性不能表示。我們沒有保證準確性，可靠性， 對任何人提供的預測的適當性或完整性。與包含的資訊相比，我們的管理層或我們的任何代表均對任何人士對我們未來的表現作出任何陳述或作出任何聲明。 預測，並且沒有人打算或承擔任何義務更新或以其他方式修訂預測，以反映在進行日期後存在的情況，或反映任何或全部的未來事件發生的情況 預測基礎的其中一些假設被證明是錯誤的。 我們可能或不會在根據交易法提交或提供的未來定期報告中參考這些預測。這些預期和預測需視乎 重大已知和未知的風險和不確定性，這可能導致我們的實際結果、績效或成就或行業結果與所表達的任何預期或預期的結果、績效或成就實質不同，或 由此類前瞻性聲明暗示。許多重要因素可能導致我們的實際結果、績效或成就與我們未來展望聲明中表達或暗示的成果實質不同，包括其他事項 有關未來政府授權和勘探許可的不確定性；未來可能發生的訴訟的不利結果；阿根廷、墨西哥及其他地區的一般政治、經濟、社會、人口和商業狀況 我們經營的國家；與阿根廷政治和經濟狀況有關的政治發展和不確定性的影響，包括阿根廷新選政府的政策；重大的經濟或政治 墨西哥和美國的發展；對於 2024 年 10 月在墨西哥任職的新政府的不確定性；適用於阿根廷和阿根廷地區的法律、規則、法規和解釋和執法的變更 墨西哥能源部門和拉丁美洲各地，包括我們經營的監管環境的變更，以及為促進能源行業投資而設立的計劃的變更；任何未預期的融資成本上升 或無法根據有吸引力的條款獲得融資和/或額外資本；一般資本市場的任何變化，可能影響阿根廷和/或墨西哥和/或阿根廷和墨西哥公司的政策或態度 有關擴展至阿根廷和墨西哥或阿根廷和墨西哥公司的融資或投資；當局和/或客戶的罰款或其他罰款和索償；未來對兌換能力的任何限制 墨西哥或阿根廷比索兌換外幣或轉移資金到國外；授權機構撤銷或修改我們各自的特許協議；我們實施我們的資本支出計劃或業務的能力 策略，包括我們在必要時以合理條件獲得融資的能力；政府干預，包括導致阿根廷和墨西哥、勞動力市場、外匯市場或稅收制度改變的措施；繼續 和/或更高的通脹率和匯率波動，包括墨西哥比索或阿根廷比索的降價；任何不可抗力事件，或阿根廷公債價值的波動或減少；有關的變動 能源需求；疫情或疫情的影響，以及隨後任何強制性監管限制或控制措施；環境、健康和安全法規和越來越嚴格的行業標準；能源 市場，包括大宗商品價格變化和波動的時間和程度，以及原油價格從歷史平均線下降的任何持續或重大降低的影響；我們與員工的關係以及我們保留關鍵的能力 我們的高級管理層成員和主要技術員工；我們的董事和官員能夠找出足夠數量潛在收購機會的能力；我們對於最近收購的公司的表現的期望 業務；我們對未來的生產、成本和原油價格的期望；估計我們的石油和天然氣儲備（包括最近發現的石油和天然氣儲備）的不確定性；市場增加 阿根廷和墨西哥能源領域的競爭；由於美國，墨西哥或其他拉丁美洲政治條件而導致的監管和自由貿易協議的潛在變化；環境法規和內部政策 實現全球氣候目標；以及涉及俄羅斯和烏克蘭的持續衝突；以及最近的兆 .e 以色列-哈馬斯衝突。前瞻性聲明僅在發表的日期內，我們不承擔任何義務 由於新信息，未來事件或其他因素，公開發對此處所包含的任何前瞻性聲明的任何更新或修訂。鑑於這些限制，不應過度依賴前瞻性聲明 包含在本演示文稿中。有關與這些前瞻性聲明和 Vista 業務相關的風險和不確定性的更多信息，請參閱 Vista 在 EDGAR（www.sec.gov）上提交的公開披露或在 墨西哥證券交易所的網頁（www.bmv.com.mx）。 因此，你不應該放過於 依賴這些聲明。本簡報不旨在構成投資建議，亦不應被解釋為投資建議。其他資訊。Vista 定期在投資者關係支持部分中向投資者發布重要信息 其網站，www.維斯塔能源網站。Vista 可能會不時使用其網站作為物質信息的分發渠道。因此，投資者應監視 Vista 的投資者關係網站，除了以下內容 Vista 的新聞稿、SEC 檔案、公開電話會議和網路廣播。
03 Strong operational and financial performance during the quarter Q3 2024 HIGHLIGHTS (1) (2) (3) Production Revenues Lifting Cost Oil Production CAPEX 72.8 Mboe/d 63.5 Mbbl/d 462 $MM 4.7 $/boe 369 $MM +47% y-o-y +53% y-o-y +53% y-o-y (2)% y-o-y +103% y-o-y +12% q-o-q +11% q-o-q (4) (5) (6) (7) (8) Adj. EBITDA Adj. Net Income Adj. EPS Free Cash Flow Net Leverage Ratio 53 $MM 0.6 $/sh 310 $MM (74) $MM 0.65x Net Income EPS +37% y-o-y (31) $MM y-o-y (1)% y-o-y 165 $MM 1.7 $/sh +8% q-o-q (1) Includes natural gas liquids (NGL) and excludes flared gas, injected gas and gas consumed in operations expenses + Gain related to the transfer of conventional assets + Other non-cash costs related to the transfer of (2) Lifting cost includes production, transportation, treatment and field support services; excludes crude oil stock conventional assets + Impairment (reversal) of long-lived assets fluctuations, depreciation, depletion and amortization, royalties and others, selling expenses, exploration expenses, (5) Adjusted net income = Profit for the year, net + Deferred income tax + Changes in fair value of warrants + Gain related to general and administrative expenses, other operating income, other operating expense and other non-cash costs related the transfer of conventional assets + Other non-cash costs related to the transfer of conventional assets + impairment to the transfer of conventional assets (reversal) of long-lived assets (3) Property, plant and equipment additions (6) Adj. EPS = Adj. Net Income divided by weighted average number of ordinary shares (4) Adj. EBITDA = Profit for the year, net + Income tax (expense) / benefit + Financial income (expense), net + Depreciation, (7) Free cash flow = Operating activities cash flow + Investing activities cash flow depletion and amortization + Transaction costs related to business combinations + Restructuring and reorganization (8) Net leverage ratio = LTM Adj. EBITDA / Net financial debt
04 Sequential double-digit production growth (1) TOTAL PRODUCTION OIL PRODUCTION NATURAL GAS PRODUCTION Mboe/d Mbbl/d MMm3/d +53% +47% +16% +12% +11% +12% 72.8 63.5 65.3 1.42 57.2 1.26 1.22 49.5 41.5 Q3-23 Q2-24 Q3-24 Q3-23 Q2-24 Q3-24 Q3-23 Q2-24 Q3-24 § Recorded 12% sequential production growth, driven by the tie-in of 23 wells between May and September 2024 § Interannual production growth reflects strong performance of shale oil development and activity ramp-up, having tied-in 51 new wells in LTM (2) § Continuous solid well productivity, with new wells performing in line with BPO type curve (1) Includes oil, gas and LPG production. LPG production in Q3 2024 totaled 414 boe/d, compared to 139 boe/d in Q2 2024 and 304 boe/d in Q3 2023 (2) EUR: 1.52 MMboe, based on a lateral length of 2,800 meters and 47 completion stages per well
05 Solid execution of development hub activity schedule DEVELOPMENT HUB Q3-24 PROGRESS 35 30 25 PAD NAME NUMBER OF WELLS TIE-IN Aguada BPO-27 Mid August 5 Federal BPE-5 Mid August 3 40 BPO-28 Early September Bajada del 4 Palo Este BPO-29 Early October 3 Bajada del Palo Oeste Tied-in 40 wells YTD, leaving 50-54 us on track to deliver 50-54 Tie-ins tie-ins by year-end Coirón Amargo Norte On track to reach 85 Mboe/d in 25 2019 to Q2-24 tie-ins Q4-24 and deliver on our annual Q3-24 tie-ins 85 Mboe/d guidance of 68-70 Mboe/d Note: pad locations for illustrative purposes. Pad sizes not to scale
06 Revenue growth above 50% y-o-y (1) REVENUES AVERAGE CRUDE OIL PRICE AVERAGE NATURAL GAS PRICE $MM $/bbl $/MMBtu +14% +53% +1% +17% 462.4 3.9 3.8 71.8 68.4 396.7 67.6 3.3 302.8 Q3-23 Q2-24 Q3-24 Q3-23 Q2-24 Q3-24 Q3-23 Q2-24 Q3-24 % of export in 57% 40% 54% total revenues Oil exports 2.2 1.9 3.5§ Sequential reduction in realized oil § Exported 8% of total gas volumes (MMbbl) prices driven by softer international at 7.0 $/MMBtu prices § Strong increase y-o-y, driven by § 72% of oil sales volumes sold at 53% boost in oil production export parity prices (1) Revenues include export duties: 13.1 $MM in Q3-23, 11.8 $MM Q2-24 and 18.8 $MM Q3-24
07 Low cost, fully-focused shale oil producer (1) (1)(2) LIFTING COST LIFTING COST PER BOE $MM $/boe +44% (2)% 31.6 4.8 4.7 4.5 26.7 21.9 72.8 65.3 49.5 Q3-23 Q2-24 Q3-24 Q3-23 Q2-24 Q3-24 Lifting cost per boe Total production (Mboe/d) § Interannual decrease in lifting cost per boe driven by production increase and partially offset by USD inflation § Sequential increase driven by higher costs in gathering, processing, compression and power generation to accommodate current production and future growth § On track to deliver on 4.5 $/boe lifting cost guidance for 2024 (1) Lifting cost includes production, transportation, treatment and field support services; excludes crude oil stock fluctuations, depreciation, depletion and amortization, royalties and others, selling expenses, exploration expenses, general and administrative expenses, other operating income, other operating expense and other non-cash costs related to the transfer of conventional assets (2) Lifting cost is shown as Operating costs in our Statement of profit or loss. Lifting cost per boe = Operating costs / Total production. Lifting cost for Q3-24 (4.7 $/boe) = Operating costs (31.6 $MM) / Total production (6.7 MMboe)
08 Robust increase in Adj. EBITDA y-o-y (1) (2) (3) ADJ. EBITDA ADJ. EBITDA MARGIN NETBACK $MM % $/boe +37% (10)p.p. (7)% +8% 75% 70% 65% 310.2 49.8 48.5 288.4 46.3 226.4 71.8 68.4 67.6 Q3-23 Q2-24 Q3-24 Q3-23 Q2-24 Q3-24 Q3-23 Q2-24 Q3-24 Adj. EBITDA margin Realized crude oil price ($/bbl) § Interannual increase in Adj. EBITDA driven by 47% production growth amid stable oil prices and lifting cost per boe § Softer Adj. EBITDA margin and Netback impacted by temporary transportation of crude oil by trucks for 23 $MM during the quarter, compared to 4 $MM in Q3-23 and 11 $MM in Q2-24 (1) Adj. EBITDA = Profit for the year, net + Income tax (expense) / benefit + Financial income (expense), net + Depreciation, depletion and amortization + Transaction costs related to business combinations + Restructuring and reorganization expenses + Gain related to the transfer of conventional assets + Other non-cash costs related to the transfer of conventional assets + Impairment (reversal) of long-lived assets (2) Adj. EBITDA Margin = Adj. EBITDA / (Total Revenues + Gain from Exports Increase Program) (3) Netback = Adj. EBITDA / Total production
09 9 Accelerating capex to support production ramp-up (1) (3) Q3 2024 CASH FLOW EVOLUTION FREE CASH FLOW $MM $MM 8 (43) (74) Q3-23 Q2-24 Q3-24 Beginning of period Operating activities Investing activities Financing activities End of period (2) cash position cash flow cash flow cash flow cash position (4) CAPEX § Operating activities cash flow reflects an increase in working capital of 52 $MM $MM and advanced payments for midstream expansions of 20 $MM 369 346 § Cash flow used in investing activities reflects accrued capex of 369 $MM partially offset by a 42 $MM decrease in capex-related working capital § Cash flow from financing activities reflects proceeds from borrowings of 143 181 $MM, partially offset by the repurchase of shares of 50 $MM, and the repayment of borrowings of 74 $MM (5) § Maintained low leverage ratio with NLR at 0.65x Adj. EBITDA Q3-23 Q2-24 Q3-24 (1) Cash is defined as Cash, bank balances and other short-term investments (2) For the purpose of this graph, Cash flow from financing activities is the sum of: (i) Cash flow from financing activities for -1.9 $MM; (ii) Effect of exposure to changes in the foreign currency rate and other financial results of cash and cash equivalents for 3.8 $MM; and (iii) the variation in Government bonds for 0.3 $MM (3) Free cash flow = Operating activities cash flow + Investing activities cash flow (4) Property, plant and equipment additions (5) Net leverage ratio = LTM Adj. EBITDA / Net financial debt
10 Raising our 2025 targets Accelerated growth in Secured oil midstream Secured 3rd drilling rig PPP 2024, expecting to reach capacity of 124 Mbbl/d by and 2nd frac set, to grow (1) 85 Mboe/d in Q4-24 YE-25 to evacuate growth further during 2025 (2) ADJ. EBITDA PRODUCTION $MM Mboe/d +40% 1,500- +40% 1,650 95-100 1,000-1,150 68-70 2025 plan based on 52-60 1,400 Estimated Lifting cost at 85 well tie-ins and capex of 4.3-4.5 $/boe for 2025 (3) 1.1-1.3 $Bn 2024F 2025F 2024F 2025F (4) Updated guidance Previous guidance In line with our capital allocation priorities, we are accelerating our highly profitable growth plan (1) Includes 37 Mbbl/d of trucking capacity (4) On September 26, 2023, the Company furnished its Investor Day Presentation to the SEC, which (2) Assumes a realized oil price of 67-72 $/bbl, with an implied Brent of 75-80 $/bbl. Adj. EBITDA = included certain projections for the years 2025 and 2026 (the “2025 Guidance” and the “2026 Profit for the year, net + Income tax (expense) / benefit + Financial income (expense), net + Guidance,” respectively). The Company has revised its 2025 Guidance in this presentation. The Depreciation, depletion and amortization + Transaction costs related to business combinations + Company continues to assess the impact that the revisions to the 2025 Guidance may have on the (1) Adj. EBITDA = Profit for the year, net + Income tax (expense) / benefit + Financial income (expense), net + Depreciation, depletion and amortization + Transaction costs related to business combinations + Restructuring and reorganization Restructuring and reorganization expenses + Gain related to the transfer of conventional assets + 2026 Guidance. As a result, the Company is withdrawing its 2026 Guidance, with the exception that expenses + Gain related to the transfer of conventional assets + Other non-cash costs related to the transfer of conventional assets + Impairment (reversal) of long-lived assets Other non-cash costs related to the transfer of conventional assets + Impairment (reversal) of long- the Company maintains its ambition to become net zero in scope 1 and 2 GHG emissions by 2026 lived assets (3) Excludes potential new investment in Vaca Muerta Sur oil pipeline and export terminal
11 Closing remarks Strong operational and financial performance during the quarter Robust execution of annual work program, with 40 wells tied-in YTD On track to deliver on 2024 activity, production, lifting cost and Adj. EBITDA guidance Executed 50 $MM of share buybacks in Q3-24, for a total of 100 $MM during 2024 New 2025 production and Adj. EBITDA guidance, accelerating highly profitable growth, in line with our capital allocation priorities
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