Company: VIST
Filing Date: 2025-04-16
Form Type: 6-K
Source: 0001193125-25-082223
Chunk: 17

Company: Vista Energy, S.A.B. de C.V.
Filing Date: 2025-04-16
Form: 6-K
Chunk 17
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50% of the ADSs on April 15, 2026. |

| (1) | As of the date of this disclosure document, Vista has 105,448,223 outstanding shares, which may not exceed 
 106,078,533 shares.                                                                                        |

12

In order to carry out the Transaction, own funds and funds from the Transaction Financing
were used, consisting of a credit agreement between Vista Argentina as borrower, Vista as guarantor and Banco Santander, S.A. as lender, for a total amount of US$300,000,000. This credit agreement has a term of four years and is guaranteed by Vista.

Through this Transaction, Vista incorporates an asset with low-costs, high margins, high profitability and cash generation. PEPASA’s
operating and financial metrics are comparable to Vista’s, while supporting our trajectory towards positive free cash generation. Driven by oil and gas production from the LACh block, PEPASA’s total revenue for 2024 was
US$909 million. In addition, PEPASA’s adjusted EBITDA during 2024 was US$667 million, leading to an adjusted EBITDA margin of 73%, reflecting a low-cost structure and high operating efficiency.
The lifting cost during 2024 was 4.1 $/boe. Net income for the period was US$349 million for fiscal year 2024.

In addition,
according to our analysis, the implicit metrics of the Transaction, such as EV/EBITDA, EV/barrel produced and EV/P1 Reserves and price-to-earnings (P/E), imply value generation for our shareholders.

Likewise, through this Transaction, Vista expects to materially increase its scale, incorporating an asset with proven reserves of 140 MMboe
as of December 31, 2023 (at a 50% working interest), according to the Argentine Secretariat of Energy, compared to Vista’s 375 MMboe of proven reserves as of December 31, 2024. According to the Argentine Secretariat of Energy
LACh’s average production in the fourth quarter of 2024 was 39,772 boe/d (at 50% working interest), compared to Vista’s 85,276 boe/d for the same period leading to a total pro forma production of 125,048 boe/d for said period.

Vista also expects to significantly enhance its asset portfolio by adding a block with an inventory that we estimate has approximately 200 ready-to