Vista Energy (VISTAA) Investor presentation summary

Key value drivers and operational highlights

• Holds 1,492 ready-to-drill locations in Vaca Muerta, with 462 wells on production and 588.1 MMboe proved reserves at YE-25, 89% oil.

• Q2-26 production reached 156.1 Mboe/d, with 72% of oil sales exported at export parity and a lifting cost of $4.5/boe.

• Adj. EBITDA for LTM was $2,172 MM with a 67% margin at $68.8/bbl realized oil price.

• Robust balance sheet with $605 MM in cash and a net leverage ratio of 1.41x as of Q2-26.

Growth, acquisitions, and portfolio enhancement

• Acquired 25.1% WI in Bandurria Sur and 35% WI in Bajo del Toro from Equinor, adding 54 MMboe of P1 reserves and 18 Mbbl/d of midstream capacity.

• Acquisition funded with $387 MM cash, 6.2M ADSs, and contingent payments linked to Brent prices.

• Pro forma 2025 Adj. EBITDA rises to $1,865 MM, with 157.3 Mboe/d production and 429 MMboe reserves.

• La Amarga Chica 50% WI acquisition added 153 wells and 151 MMboe P1 reserves at accretive multiples.

Production, financial, and export performance

• Production grew 6.4x since 2018, with a 605% reserves replacement ratio in 2025 and 698 booked net locations at YE-25.

• Lifting cost reduced by 68% since 2018, now at $4.5/boe.

• Adj. EBITDA margin reached 67% LTM, with ROACE of 29%.

• Exported 72% of oil sales in Q2-26; export-driven revenues grew 3.7x since 2021, with oil export volumes up 7.2x.

• Planning to expand export revenues by 2.8x from 2025 to 2028.