Financial Data and Key Metrics Changes - Revenues fell year-on-year by 40% to $544 million, primarily due to a collapse in gas prices and a tariff freeze impacting regulated businesses [11][12] - Adjusted EBITDA decreased year-on-year by 56% to $120 million, mainly due to lower E&P prices and volumes, and tariff freezes [12][13] - Net income attributable to the owners of the company was reported at $4 million, a significant drop from $400 million in the same period last year [44] Business Line Data and Key Metrics Changes - Power generation segment posted an adjusted EBITDA of $95 million, similar to Q2 2019, despite lower margins and volumes sold [17] - E&P segment reported an adjusted EBITDA of $6 million, down 88% year-on-year, with production decreasing 10% year-on-year but only 5% quarter-on-quarter [31][32] - CapEx decreased significantly compared to last year, primarily due to the completion of the Genelba Plus expansion project and halted drilling activities in E&P [14] Market Data and Key Metrics Changes - Average demand in the Argentine power grid reached 13 GW, 6% lower than last year, with a 13% drop compared to pre-crisis levels in 2018 [15] - Domestic gas demand dropped year-on-year by 8% in Q2, mainly due to lower industrial consumption and economic downturn [29] - The average price for gas was $2 per million BTU, 37% lower year-on-year, driven by reduced demand and lower CAMMESA tender prices [39] Company Strategy and Development Direction - The company is focusing on maintaining operations under COVID-19 protocols while managing costs and capital expenditures prudently [8][10] - Future drilling activities will depend on market signals and pricing, with a focus on tight gas reserves rather than unconventional wells for the remainder of 2020 [54][56] - The commissioning of the second CCGT at Genelba is a significant milestone, enhancing the company's capacity and efficiency in power generation [24][26] Management's Comments on Operating Environment and Future Outlook - Management noted that the economic environment remains challenging due to COVID-19, but collection rates have improved across all businesses [10][6] - The company remains cautious about future investments, with a focus on maintaining liquidity and managing debt effectively [49][50] - There is optimism regarding the recovery of gas demand as winter approaches, although prices remain low [30][101] Other Important Information - The company has a share buyback program with a price cap of $13 per ADR, with $38 million outstanding [51] - The gross debt is primarily denominated in U.S. dollars, with a significant portion of cash reserves maintained [48][49] Q&A Session Summary Question: When are you planning to go back to drilling new unconventional wells? - The company has a stock of 11 wells but will wait for better pricing signals before proceeding with new drilling [54] Question: Is the current remuneration for legacy thermal power units enough to sustain plant availability? - Management indicated that they are still making margins, but adjustments for inflation have been postponed due to COVID-19 [57] Question: Any news on asset disposals or M&A? - Currently, there are no plans for asset disposals, but the company is studying potential M&A opportunities [59][60] Question: Why is the gas price lower than peers? - The company attributes the lower price to its exposure to CAMMESA and the lack of benefits from certain government resolutions that peers may enjoy [61][62] Question: What is the outlook for CapEx for the remainder of 2020? - The forecast for E&P CapEx is $65 million, with minimal CapEx expected in power generation due to completed projects [69][70]

| --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------------------------------------|-------|-------|-------|---------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | Q2 2020 results videoconference | | | | | | August 12, 2020 10 AM EST/11 AM ART | | | | | | | | We are environmentally friendly Be GREEN, keep it on SCREEN Pampaenergía Disclaimer The material that follows is a presentation of general background information about Pampa Energia S.A.("Pampa" or ...

Pampa Energia SA (NYSE:PAM) Q1 2020 Earnings Conference Call May 13, 2020 10:00 AM ET Company Participants Margarita Chun - IR Lida Wang - IR Officer Gustavo Mariani - CEO Gabriel Cohen - CFO Conference Call Participants Bruno Montanari - Morgan Stanley Ezequiel Fernández - Balanz Santiago Wesenack - AR Partners Jacob Steinfeld - Ashmore Matias Castagnino - BCP Antonella Rapuano - Santander Margarita Chun Good morning, ladies and gentlemen and thank you for waiting. I'm Margarita Chun from IR and we would l ...

-Pampaenergía Q1 2020 Results Videoconference May 13, 2020 10 AM EST / 11 AM ART We are environmentally friendly Be GREEN, keep it on SCREEN Disclaimer The material that follows is a presentation of general backqround information about Pampa Energia S.A.("Pampa" or the "Company") as of the date of the resentation. It is information in summary form and does not purport to be complete. It is not intended to be relied upon as advice to potential investors. This presentation is strictly confidential and may not ...

Call Start: 10:00 January 1, 0000 10:57 AM ET Pampa Energia SA (NYSE:PAM) Q4 2019 Earnings Conference Call March 11, 2020, 10:00 ET Company Participants Lida Wang - IR Officer Gustavo Mariani - CEO Conference Call Participants Bruno Montanari - Morgan Stanley Jamie Nicholson - Crédit Suisse Carolina Carneiro - Crédit Suisse Alejandra Aranda - Itaú Chris Dechiario - Marathon Antonella Rapuano - Santander Operator Good morning, ladies and gentlemen, and thank you for waiting. At this time, we would like to we ...