Company: VIST
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001193125-25-076856
Chunk: 12

Company: Vista Energy, S.A.B. de C.V.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 3
Chunk 12
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 possible to estimate the impact such conflict will have on the global economy or on the economies of the countries in which we operate and, consequently, our business, financial condition and results of operations.

Changes in U. S. trade and other policies under the Trump administration may adversely impact our business, financial condition, and results of operations.

The administration of U. S. President Donald Trump has introduced significant changes in trade and regulatory policies, including tariffs, trade restrictions, and enforcement measures that could affect cross-border commerce and foreign business operations. On February 1, 2025, President Trump issued an executive order, effective March 4, 2025, imposing tariffs on imports from Canada, Mexico, and China, and made announcements regarding the potential imposition of tariffs on other jurisdictions. Furthermore, on April 2, 2025, President Trump announced that the United States would impose a 10% tariff on all countries, effective on April 5, 2025, and an individualized reciprocal higher tariff on countries with which the United States has the largest trade deficits. While certain energy products (such as crude oil) have been exempted, the effect on global economic growth and trade of these measures remains uncertain, and could disrupt global trade flows, and increase operational costs for companies reliant on international supply chains.

As an oil and gas company operating in Mexico and Argentina, we are subject to import regulations, supply chain dependencies, and cross-border energy trade policies that could be affected by U. S. government actions. Any tariff increases, trade restrictions, or enforcement measures targeting the energy sector could increase costs, limit access to critical infrastructure and materials, and disrupt operational continuity.

Additionally, the U. S. government has designated certain international cartels and transnational criminal organizations, including those operating in Mexico, as Foreign Terrorist Organizations (“ FTOs”) and Specially Designated Global Terrorists (“SDGTs”). For more information, see “ - Risks Related to the Argentine and Mexican Economic and Regulatory Environments - Economic and political developments in Mexico may adversely affect Mexican economic policy and, in turn, our operations.”

Given the expanding scope of trade restrictions and the uncertainty surrounding future policies of the Trump administration, we can provide no assurances regarding the full extent of any potential impact on our operations. To the extent that changes in the political or regulatory environment due to the imposition of tariffs or other measures negatively impact us or the markets in which we operate, our business, financial condition, and results of operations could be materially and adversely affected

Our business requires significant