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.

• Free float of 20.84% with listings on NYSE and BYMA.

• Management team averages over 30 years of industry experience and maintains low turnover.

• Five out of nine board members are independent, reflecting global governance standards.

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 with 89 MMm³/day firm contracted capacity.

• 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, including Vaca Muerta shale gas transportation.

Market context and industry position

• Natural gas is 53% of Argentina's energy matrix, with Neuquina basin supplying 69% of national production.

• Main customers include Metrogas, Camuzzi, Naturgy, and CAMMESA, with 78% of transportation revenues from firm contracts.

• 2025 natural gas production led by YPF (23%), Tecpetrol (13%), and Pan American Energy (11%).