Interim Consolidated Financial Statements Q3 2021

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

Unaudited interim condensed consolidated financial statements as of September 30, 2021, and December 31, 2020 and for the nine-month periods ended September 30, 2021, and 2020

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

Unaudited interim condensed consolidated financial statements as of September 30, 2021, and December 31, 2020, and for the nine-month periods ended September 30, 2021, and 2020

TABLE OF CONTENTS

• Unaudited interim condensed consolidated statements of profit or loss and other comprehensive income for the nine-month periods ended September 30, 2021, and 2020.
• Unaudited interim condensed consolidated statements of financial position as of September 30, 2021, and December 31, 2020.
• Unaudited interim condensed consolidated statements of changes in shareholders' equity for the nine- month periods ended September 30, 2021 and 2020.
• Unaudited interim condensed consolidated statements of cash flows for the nine-month periods ended September 30, 2021 and 2020.
• Notes to the unaudited interim condensed consolidated financial statements as of September 30, 2021 and December 31, 2020 and for the nine-month periods ended September 30, 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 nine-month periods ended September 30, 2021, and 2020

(Amounts expressed in thousands of US Dollars)

		Period from		Period from		Period from		Period from
		January 1		January 1		July 1		July 1
	Notes	through		through		through		through
		September		September		September		September
		30, 2021		30, 2020		30, 2021		30, 2020
Revenues from contract with customers	4	456,183	194,402	175,005	69,863
Cost of sales:
Operating costs	5.1	(76,812)	(65,429)	(27,204)	(23,032)
Crude oil stock fluctuation	5.2	457	(2,434)	1,797	598
Depreciation, depletion and amortization	12/13/14	(144,427)	(102,791)	(48,681)	(38,876)
Royalties		(60,383)		(26,899)		(23,757)		(9,624)
Gross profit/(loss)		175,018		(3,151)		77,160		(1,071)
Selling expenses	6	(30,883)	(17,886)	(12,481)	(5,434)
General and administrative expenses	7	(31,094)	(26,659)	(11,173)	(9,063)
Exploration expenses	8	(437)	(540)	(153)	(241)
Other operating income	9.1	17,808	5,231	11,294	1,380
Other operating expenses	9.2	(1,897)	(4,228)	(554)	(1,690)
Impairment of long- lived assets	2.4.2	-		(4,954)		-		(4,954)
Operating profit/(loss)		128,515		(52,187)		64,093		(21,073)
Interest income	10.1	42	803	34	37
Interest expenses	10.2	(41,330)	(33,699)	(12,173)	(12,979)
Other financial results	10.3	(6,181)		3,468		(11,932)		61
Financial results, net		(47,469)		(29,428)		(24,071)		(12,881)
Profit/(loss) before income tax		81,046		(81,615)		40,022		(33,954)
Current income tax (expense)/benefit	15	(47,257)	(209)	(29,285)	62
Deferred income tax (expense)/benefit	15	(18,694)		(7,113)		(6,005)		5,490
Income tax (expense)/benefit		(65,951)		(7,322)		(35,290)		5,552
Net profit/(loss) for the period		15,095	(88,937)	4,732	(28,402)
Other comprehensive income
Other comprehensive income that will not be
reclassified to profit or loss in subsequent periods
- (Loss)/profit from actuarial remediation related	25
to defined benefit plans	(3,050)	445	(430)	670
- Deferred income tax benefit/(expense)	15	1,536	(110)	151	(167)
Other comprehensive income that will not be
reclassified to profit or loss in subsequent periods		(1,514)	335	(279)	503
Other comprehensive income for the period, net
of taxes		(1,514)		335		(279)		503
Total comprehensive profit/(loss) for the period		13,581	(88,602)	4,453	(27,899)
Profit/(loss) per share
Basic share (in US dollars per share)	11	0.171	(1.018)	0.054	(0.324)
Diluted share (in US dollars per share)	11	0.163	(1.018)	0.050	(0.324)

Notes 1 through 30 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 September 30, 2021, and December 31, 2020

(Amounts expressed in thousands of US Dollars)

	Notes		As of September 30,		As of December 31,
	2021	2020
Assets
Non-current assets
Property, plant and equipment	12	1,140,182	1,002,258
Goodwill	13	28,450	28,484
Other intangible assets	13	20,218	21,081
Right-of-use assets	14	19,471	22,578
Investments in associates		2,077	-
Trade and other receivables	16	22,122	29,810
Deferred income tax assets			-		565
Total non-current assets		1,232,520	1,104,776
Current assets
Inventories	18	17,451	13,870
Trade and other receivables	16	71,160	51,019
Cash, bank balances and other short-term investments	19		265,730		202,947
Total current assets			354,341		267,836
Total assets		1,586,861	1,372,612
Shareholders' equity and liabilities
Shareholders' equity
Share capital	20	659,400	659,400
Share-based payments		29,579	23,046
Other accumulated comprehensive losses		(5,025)	(3,511)
Accumulated losses			(155,322)		(170,417)
Total shareholders' equity		528,632	508,518
Liabilities
Non-current liabilities
Deferred income tax liabilities		152,160	135,567
Lease liabilities	14	14,036	17,498
Provisions	21	26,080	23,909
Borrowings	17.1	443,209	349,559
Warrants	17.4	9,640	362
Employee benefits	25	6,339	3,461
Accounts payable and accrued liabilities	24		51,839		-
Total non-current liabilities		703,303	530,356
Current liabilities
Provisions	21	1,957	2,084
Lease liabilities	14	6,548	6,183
Borrowings	17.1	159,666	190,227
Salaries and social security payable	22	12,350	11,508
Income tax liability		31,504	-
Other taxes and royalties payable	23	8,174	5,117
Accounts payable and accrued liabilities	24		134,727		118,619
Total current liabilities			354,926		333,738
Total liabilities			1,058,229		864,094
Total shareholders' equity and liabilities			1,586,861		1,372,612

Notes 1 through 30 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 shareholders' equity for the nine-month period ended September 30, 2021

(Amounts expressed in thousands of US Dollars)
		Share-based	Other accumulated	Accumulated losses Total shareholders'
	Share Capital	comprehensive
		payments	losses		equity
Amounts as of December 31, 2020	659,400	23,046	(3,511)	(170,417)	508,518
Profit for the period	-	-	-	15,095	15,095
Other comprehensive income (loss) for the period	-	-	(1,514)	-	(1,514)
Total comprehensive income	-	-	(1,514)	15,095	13,581
Share-based payments (1)	-	6,533	-	-	6,533
Amounts as of September 30, 2021	659,400	29,579	(5,025)	(155,322)	528,632

1. Including 8,098 share-based payment expenses (Note 7), net of tax charges.

Notes 1 through 30 are an integral part of these unaudited interim condensed consolidated financial statements.

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