Vista Oil & Gas B de C : Interim Consolidated Financial Statements 2021 and Q4 2021

VISTA OIL & GAS, S.A.B. DE C.V.

Unaudited interim condensed consolidated financial statements as of December 31, 2021 and 2020, and for the years and for the three-month periods ended December 31, 2021 and 2020

VISTA OIL & GAS, S.A.B. DE C.V.

Unaudited interim condensed consolidated financial statements as of December 31, 2021 and 2020, and for the years and for the three-month periods ended December 31, 2021 and 2020

TABLE OF CONTENTS

• Unaudited interim condensed consolidated statements of profit or loss and other comprehensive income for the years and for the three-month periods ended December 31, 2021 and 2020
• Unaudited interim condensed consolidated statements of financial position as of December 31, 2021 and 2020
• Unaudited interim condensed consolidated statements of changes in equity for the years ended December 31, 2021 and 2020
• Unaudited interim condensed consolidated statements of cash flows for the years and for the three-month periods ended December 31, 2021 and 2020
• Notes to the unaudited interim condensed consolidated financial statements as of December 31, 2021 and 2020, and for the years and for the three-month periods ended December 31, 2021 and 2020

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VISTA OIL & GAS, S.A.B. DE C.V.

Unaudited interim condensed consolidated statements of profit or loss and other comprehensive income for the years and for the three-month periods ended December 31, 2021 and 2020

(Amounts expressed in thousands of US Dollars)

						Period from		Period from
		Year ended		Year ended		October 1		October 1
	Notes	December		December		through		through
		31,2021	31,2020		December 31,		December 31,
						2021		2020
Revenue from contracts with customers	4	652,187	273,938	196,004	79,536
Cost of sales:
Operating costs	5.1	(107,123)	(88,018)	(30,311)	(22,589)
Crude oil stock fluctuation	5.2	(905)	3,095	(1,362)	5,529
Depreciation, depletion and amortization	12/13/14	(191,313)	(147,674)	(46,886)	(44,883)
Royalties		(86,241)		(38,908)		(25,858)		(12,009)
Gross profit		266,605		2,433		91,587		5,584
Selling expenses	6	(42,748)	(24,023)	(11,865)	(6,137)
General and administrative expenses	7	(45,858)	(33,918)	(14,764)	(7,259)
Exploration expenses	8	(561)	(646)	(124)	(106)
Other operating income	9.1	23,285	5,573	5,477	342
Other operating expenses	9.2	(4,214)	(4,989)	(2,317)	(761)
Reversal / (Impairment) of long- lived assets	2.4.2	14,044		(14,438)		14,044		(9,484)
Operating profit / (loss)		210,553		(70,008)		82,038		(17,821)
Interest income	10.1	65	822	23	19
Interest expense	10.2	(50,660)	(47,923)	(9,330)	(14,224)
Other financial results	10.3	(7,194)		4,247		(1,013)		779
Financial results, net		(57,789)		(42,854)		(10,320)		(13,426)
Profit / (loss) before income tax		152,764		(112,862)		71,718		(31,247)
Current income tax (expense) / benefit	15	(62,419)	(184)	(15,162)	25
Deferred income tax (expense) / benefit	15	(39,695)		10,297		(21,001)		17,410
Income tax (expense) / benefit		(102,114)		10,113		(36,163)		17,435
Profit / (loss) for the year / period, net		50,650	(102,749)	35,555	(13,812)
Other comprehensive income
Other comprehensive income that shall not be
reclassified to profit or loss in subsequent periods
- (Loss) / profit from actuarial remediation related to	25	(4,513)	460	(1,463)	15
defined benefit plans
- Deferred income tax benefit / (expense)	15	2,048	(114)	512	(4)
Other comprehensive income that shall not be
reclassified to profit or loss in subsequent periods		(2,465)	346	(951)	11
Other comprehensive income for the year / period,
net of taxes		(2,465)		346		(951)		11
Total comprehensive profit / (loss) for the year / period		48,185	(102,403)	34,604	(13,801)
Earnings / (loss) per share
Basic (in US dollars per share)	11	0.574	(1.175)	0.402	(0.157)
Diluted (in US dollars per share)	11	0.543	(1.175)	0.374	(0.157)

Notes 1 through 31 are an integral part of these unaudited interim condensed consolidated financial statements.

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VISTA OIL & GAS, S.A.B. DE C.V.

Unaudited interim condensed consolidated statements of financial position as of December 31, 2021 and 2020

(Amounts expressed in thousands of US Dollars)

	Notes		As of December 31, 2021		As of December 31, 2020
Assets
Noncurrent assets
Property, plant and equipment	12	1,223,982	1,002,258
Goodwill	13	28,416	28,484
Other intangible assets	13	3,878	21,081
Right-of-use assets	14	26,454	22,578
Investments in associates		2,977	-
Trade and other receivables	16	20,210	29,810
Deferred income tax assets			2,771		565
Total noncurrent assets		1,308,688	1,104,776
Current assets
Inventories	18	13,961	13,870
Trade and other receivables	16	46,096	51,019
Cash, bank balances and other short-term investments	19		315,013		202,947
Total current assets			375,070		267,836
Total assets		1,683,758	1,372,612
Equity and liabilities
Equity
Capital stock	20	586,706	659,400
Share-based payments		31,601	23,046
Other accumulated comprehensive losses		(5,976)	(3,511)
Accumulated losses			(47,072)		(170,417)
Total equity		565,259	508,518
Liabilities
Noncurrent liabilities
Deferred income tax liabilities		175,420	135,567
Lease liabilities	14	19,408	17,498
Provisions	21	29,657	23,909
Borrowings	17.1	447,751	349,559
Warrants	17.4	2,544	362
Employee benefits	25	7,822	3,461
Trade and other payables	24		50,159		-
Total noncurrent liabilities		732,761	530,356
Current liabilities
Provisions	21	2,880	2,084
Lease liabilities	14	7,666	6,183
Borrowings	17.1	163,222	190,227
Salaries and payroll taxes	22	17,491	11,508
Income tax liability		44,625	-
Other taxes and royalties	23	11,372	5,117
Trade and other payables	24		138,482		118,619
Total current liabilities			385,738		333,738
Total liabilities			1,118,499		864,094
Total equity and liabilities			1,683,758		1,372,612

Notes 1 through 31 are an integral part of these unaudited interim condensed consolidated financial statements.

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VISTA OIL & GAS, S.A.B. DE C.V.

Unaudited interim condensed consolidated statement of changes in equity for the year ended December 31, 2021

(Amounts expressed in thousands of US Dollars)
		Share-based	Other accumulated
	Capital stock	comprehensive	Accumulated losses	Total equity
	payments
		losses
Amounts as of December 31, 2020	659,400	23,046	(3,511)	(170,417)	508,518
Profit for the year	-	-	-	50,650	50,650
Other comprehensive income for the year	-	-	(2,465)	-	(2,465)
Total comprehensive income	-	-	(2,465)	50,650	48,185
Share-based payments (1)	1	8,555	-	-	8,556
Reduction of share capital adopted at the Ordinary
General Shareholders' meeting on December 14, 2021	(72,695)	-	-	72,695	-
(see Note 20)
Amounts as of December 31, 2021	586,706	31,601	(5,976)	(47,072)	565,259

1. Including 10,592 share-based payment expenses (Note 7), net of tax charges.

Notes 1 through 31 are an integral part of these unaudited interim condensed consolidated financial statements.

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