Vista Energy (VISTAA) Investor Presentation summary

Strategic highlights and operational performance

• Expanded ready-to-drill inventory to 1,473 wells, with 311 wells on production in Vaca Muerta as of Q2-25, supporting long-term growth plans.

• Q2-25 production reached 118.0 Mboe/d, with 61% of oil sales exported at export parity pricing.

• Lifting cost reduced to $4.7/boe in Q2-25, down 66% since 2018, reflecting operational efficiencies.

• Adj. EBITDA for LTM was $1,263MM ($1,766MM pro forma), with a 66% margin at $62.2/bbl realized oil price.

• Acquisition of PEPASA (50% of La Amarga Chica block) in April 2025 increased scale, reserves, and production.

Financial performance and capital structure

• Q2-25 Adj. EBITDA was $405MM, up 40% YoY, with net income of $235MM including one-off effects from PEPASA acquisition.

• Net leverage ratio improved to 1.38x (pro forma), with $154MM in cash as of Q2-25.

• Raised ~$2.5Bn through NYSE dual-listing and multiple bond issuances, enhancing funding flexibility.

• Debt maturities extended with new $500MM term loans, and average interest rate reduced to 5.3%.

• Solid balance sheet positions the company for further investments and growth.

Growth, guidance, and portfolio development

• 2025 production guidance updated to 125–128 Mboe/d (+62% YoY), with Adj. EBITDA of $1.5–1.6Bn (+41%).

• Capex guidance for 2025 set at $1.2Bn, focused on high-return, short-cycle shale projects.

• Export-driven revenue growth, with oil export volumes rising to 61% of total in Q2-25 and gross oil export revenues at $1,483MM LTM pro forma.

• Material oil midstream capacity secured (231 Mbbl/d by YE-27), supporting export strategy.

• Mexican asset CS-01 produced 0.4 Mboe/d in Q2-25, with 9.8 MMboe 1P reserves.