Company: VIST
Filing Date: 2025-04-16
Form Type: 6-K
Source: 0001193125-25-082223
Chunk: 24

Company: Vista Energy, S.A.B. de C.V.
Filing Date: 2025-04-16
Form: 6-K
Chunk 24
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 the fifth year of the implementation of a given investment                                             
 project will have the right to freely commercialize in the foreign market 20% of the production of hydrocarbons produced as a result of such investment. |

| • |     | The commercialization of hydrocarbons will be carried out with a 0% export duty rate. |

| • |     | The beneficiaries will have the free availability of 100% of the foreign currency from the export of these                                                                                                                                
 hydrocarbons, provided that the “Investment Project for the Exploitation of Hydrocarbons” approved had implied the entry of foreign currency to the Argentine financial market for at least the amount provided for in the regulations in 
 force.                                                                                                                                                                                                                                    |

PEPASA has enjoyed the benefits in this regard for certain volumes of crude oil exported as of April 2023. Objective of the Transaction Through this transaction, Vista incorporates an asset with low-costs, high margins, high profitability and cash generation. PEPSA’s operational and financial metrics are comparable to Vista’s, while supporting our trajectory towards positive free cash flow generation. Driven by oil and gas production from the LACh block, PEPASA’s total revenues during 2024 were 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-coststructure 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. 18

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

Furthermore, through the
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% stake), 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