Q2 2020 results videoconference Disclaimer Pampa Energa 2 - PowerPoint PPT Presentation

Q2 2020 results videoconference

Disclaimer Pampa Energía ⚫ 2

Reporting considerations Q2 2020 Q2 2019 Reporting How Pampa reports FC US$ FC US$ FC AR$ @ FC AR$ @ June 30, 2020 June 30, 2019 Inflation = 3% Inflation = 5% Devaluation = 9% Appreciation = 2% Pampa Restricted Group Pampa consolidated non-GAAP • • • • • • • Pampa Energía ⚫ 3

The main highlights of the quarter • • • • Aerial view of CTGEBA, 2020 Pampa Energía ⚫ 4

Q2 2020’s key takeaways Consolidated figures, in US$ million Revenues 1 Consolidated adjusted EBITDA 1 900 271 300 80% 723 900 221  800 70% 250 544  700 60%  200 600 50% 31% 30% 120   500 150 40% 400 30%  ✓ 300 100 20% 200 ✓ 22% 50 10% ✓ 100 0 0 0% Q2 20 Q2 20 Capex Pampa Restricted Group+Edenor Consolidated adjusted EBITDA breakdown 1,2 180 24% 180  160 140 % 120  67 63 100 80  60  40 76% 20 0 Q2 20 Pampa Energía ⚫ 5

Lockdown negatively impacted on Argentina’s GDP, although power generation proved resiliency Argentina’s net electricity demand, monthly average in MW Q2 Pampa Energía ⚫ 6

Power generation smoothly performed despite challenging environment Adjusted EBITDA 1 , in US$ million Generation performance, in GWh 4,608 114 100% 100 3,727  95 120 3,461 4, 500 90%   4, 000 100 71% 3, 500 80% 80 3, 000 ✓ ✓ 70% 2, 500 60 ✓ 2, 000 49% 68% ✓ 60% 40 1, 500 ✓ 1, 000 50% 20 ✓ 500 - 40% - Q2 20 Q2 20 Main news Availability performance, in % to installed capacity • 98.6% • 96.6% 95.3% ✓ Q2 20 Pampa Energía ⚫ 7

Genelba Thermal Power Plant One of the most important milestones in Pampa Energía’s history COD on time despite COVID-19 pandemic Aerial view of CTGEBA, 2020 Pampa Energía ⚫ 8

Ensenada Barragán Thermal Power Plant Key infrastructure project for Argentina’s electricity supply Works resumed with the strictest protocols in place Aerial view of CTEB, 2019 Pampa Energía ⚫ 9

COVID-19 lockdown and fall season: a tough combination for gas Nation-wide gas demand, monthly average in bcf per day Q2 Pampa Energía ⚫ 10

Our production remained stable despite collapsing prices Adjusted EBITDA 1 , in US$ million Production performance, in kboe/d 48.5 53 46.0 43.7 140% 50 120% 29 100% 40 48% 80%  30 60% 40% ✓ 20 6 34% 20% 10 11% ✓ 0% - -2 0% Q2 20 Q2 20 Q2 20 Crude oil sales, in kbbl/d 20.8 5.3 4.9 6. 0 4.1 5. 0 4. 0  3. 0 2. 0  1. 0 ✓ - Q2 20 Pampa Energía ⚫ 11

Our production remained stable despite collapsing prices Gas sales, in mcf/d Weighted avg gas price for Pampa, in US$/MBTU 1 282 259 253 3.3 300 3.1 3.1 250  2.6 ✓ 200 2.0 150  100 50 ✓ - Q2 20 Q2 Main news Destination of our sales, YTD as of June • Gas tenders for power generation and pricing environment • Operating update Pampa Energía ⚫ 12

Q2 2020’s key takeaways Consolidated figures, in US$ million Q2 20 4 Net income to shareholders Q2 19 Q2 20 Pampa Energía ⚫ 13

Outstanding balance sheet to weather a difficult environment Key leverage figures, as of June 30, 2020 1 Affiliates Pampa Consolidated with Edenor @ O/S 3 Restricted Group affiliates @ O/S After Q2 2020: Debt 2 1,591 150 416 2,158 ✓ Cash 393 81 161 635 ✓ Net debt 1,198 70 255 1,523 ✓ LTM adj. EBITDA 462 91 223 773 Net leverage 2.6x 0.8x 1.1x 2.0x Pampa Restricted Group principal debt profile and breakdown, net of repurchases 646 ECA 2% Int'l 430 AR$ % % US$ Banks Bonds 11% 89% 293 9% 87% 98 80 Local Bonds 8 8 2% Pampa Energía ⚫ 14

Q&A |

Electricity Distribution Adj. EBITDA, in US$ million Sales Performance , in GWh   ✓  5,203 4,849 4,791 ✓ 72  ✓ 90 70% 60% 45 70 ✓ 50% 16% 50 40% 14% ✓ 30% 30 (14) 20% ✓ 10 10% 0% 0) (1 0% -1 (3 0) -2 0% Q2 20 Q2 20 Number of End-Users, in million Main News • 3.13 3.12 3.09 ✓ ✓  Q2 20 Pampa Energía ⚫ 16

Petrochemicals Adj. EBITDA, in US$ million Sales Performance, in thousand ton 741 4 5 15% 95 3 87 4 ✓  100 10% 3 3% ✓ ✓ 10% 90 80 52 2  5% (2) 70 1  60 0% 50 - 40 (1 ) 30 -5 % 20 (2 ) 10 (3 ) -1 0% - Q2 20 Q2 20 Main News • Pampa Energía ⚫ 17

Holding & Others Adj. EBITDA 2 , in US$ million Main News • 44 60 ▪ 35 50 ▪ 29 40 • 30 ▪ 20 10 - (1 0) Q2 20 Affiliates’ EBITDA Performance @ 100% Ownership, in US$ million 142 5 47 96  2 79  29 28  ✓   ✓ ✓  (2) ✓ ✓ Q2 20 Q2 20 Q2 20 Pampa Energía ⚫ 18