Transportadora de Gas del Sur S.A. (TGSU2) Investor Presentation summary

Ownership and governance

• Majority owned by CIESA, with Pampa Energía as a key sponsor and strong industry experience.

• Publicly listed since 1994 on NYSE and BYMA, with robust corporate governance and independent board members.

• Management team with over 30 years of industry experience and low personnel turnover.

Business overview and operations

• Operates the largest gas pipeline system in Latin America, transporting 61% of Argentina's natural gas consumption.

• 9,248 km of pipelines and 89 MMm³/day firm contracted capacity; $350MM LTM EBITDA from transportation.

• Second largest natural gas processor with 47 MMm³/day processing capacity and 1.1MM MT annual liquids production.

• Provides midstream, engineering, O&M, and telecom services, with significant operations in Vaca Muerta.

Market and industry context

• Natural gas dominates Argentina's energy matrix, accounting for the majority of supply and consumption.

• Neuquina basin supplies 69% of natural gas; main consumers are power plants (33%), industries (30%), and residential (25%).

• Key producers include YPF, Pan American Energy, Tecpetrol, and Pampa Energía.