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

Revenues1

Consolidated adjusted EBITDA1

900

800

700

600

500

400

900 723

544

300

250

200

150

271

221

30%

31%

120

80%

70%

60%

50%

40%

300

100

200

22%

50

100

0

0

Q2 20

Q2 20

Capex Pampa Restricted Group+Edenor

Consolidated adjusted EBITDA breakdown1,2

30%

20%

10%

0%

180

160

140

120

100

80

60

40

20

0

180

63 67

Q2 20

24%

%

76%

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 EBITDA1, in US$ million

Generation performance, in GWh

120100

100

80

60

4049%

20

-

114 95

71% 68%

Q2 20

100%

90%

80%

70%

60%

50%

40%

4,500

3,727

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

-

4,608

3,461

✓ ✓

Q2 20

Main news

Availability performance, in % to installed capacity

95.3%

96.6%

98.6%

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 EBITDA1, in US$ million

Production performance, in kboe/d

53

50

40

29

30

48%

20

10

34%

-

6 11%

Q2 20

48.5

140%

120%

100%

80%

60%

40%

20%

0%

-0%2

46.0 43.7

Q2 20

Crude oil sales, in kbbl/d

60.

4.9

5.3

50.

40.

30.

20.

10.

-

20.8

4.1

Q2 20

Pampa Energía 11

300

250

200

150

100

50

-

Our production remained stable despite collapsing prices

Gas sales, in mcf/dWeighted avg gas price for Pampa, in US$/MBTU1

282

259

253

3.3

3.1

3.1

2.6

2.0

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

Net income to 4 shareholders

Q2 19

Q2 20

Pampa Energía 13

Outstanding balance sheet to weather a difficult environment

Key leverage figures, as of June 30, 20201

Pampa

Edenor

Affiliates

Consolidated with

Restricted Group

3

affiliates @ O/S

@ O/S

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

After Q2 2020:

Pampa Restricted Group principal debt profile and breakdown, net of repurchases

646

430

%

AR$

Int'l

%

ECA 2%

US$

Banks

Bonds

293 89%

11%

9%

87%

80

98

8

Local Bonds

8

2%

Pampa Energía 14

Q&A |

Electricity Distribution

Adj. EBITDA, in US$ million

9072

70

45

30

16%

14%

50

10

(14)

(10)

(30)

Q2 20

Number of End-Users, in million

70%

60%

50%

40%

30%

20%

10%

0%

-10%

-20%

Sales Performance , in GWh

4,849

5,203

4,791

Q2 20

Main News

✓ ✓ ✓

3.09

3.12 3.13

Q2 20

Pampa Energía 16

Petrochemicals

Adj. EBITDA, in US$ million

5

4

3

3

3%

2

1

(2)

-

(1)

(2)

(3)

Main News

4 10%

Q2 20

15%

10%

5%

0%

-5%

-10%

Sales Performance, in thousand ton

741

95

87

100

90

52

80

70

60

50

40

30

20

10

-

Q2 20

Pampa Energía 17

Holding & Others

Adj. EBITDA2, in US$ million

6044

Main News

50

35

29

40

30

20

10

-

(10)

Q2 20

Affiliates' EBITDA Performance @ 100% Ownership, in US$ million

47

142

5

96

2

29

79

28

(2)

Q2 20

Q2 20

Q2 20

Pampa Energía 18

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Pampa Energia SA published this content on 11 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2020 06:32:14 UTC