Vista Oil & Gas B de C : Interim Consolidated Financial Statements Q1 2021

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

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

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

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

TABLE OF CONTENTS

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

(Amounts expressed in thousands of US Dollars)

	Notes		Period from January 1		Period from January 1
		through March 31, 2021		through March 31, 2020
Revenues from contract with customers	4	115,901	73,320
Cost of sales:
Operating costs	5.1	(23,140)	(23,833)
Crude oil stock fluctuation	5.2	(3,100)	449
Depreciation, depletion and amortization	12/13/14	(44,730)	(33,467)
Royalties			(14,886)		(11,145)
Gross profit			30,045		5,324
Selling expenses	6	(7,412)	(6,152)
General and administrative expenses	7	(8,851)	(9,367)
Exploration expenses	8	(159)	(131)
Other operating income	9.1	649	2,153
Other operating expenses	9.2		(1,049)		(1,253)
Operating profit/(loss)			13,223		(9,426)
Interest income	10.1	4	624
Interest expenses	10.2	(17,398)	(11,151)
Other financial results	10.3		12,787		3,192
Financial results, net			(4,607)		(7,335)
Profit/(loss) before income tax			8,616		(16,761)
Current income tax (expense)	15	(1,748)	-
Deferred income tax (expense)	15		(2,010)		(4,571)
Income tax (expense)			(3,758)		(4,571)
Net profit/(loss) for the period		4,858	(21,332)
Other comprehensive income
Other comprehensive income that will not be reclassified to
profit or loss in subsequent periods
- (Loss) from actuarial remediation related to defined	25
benefit plans	(97)	-
- Deferred income tax benefit	15	24	-
Other comprehensive income that will not be
reclassified to profit or loss in subsequent periods			(73)		-
Other comprehensive income for the period, net of taxes			(73)		-
Total comprehensive profit/(loss) for the period		4,785	(21,332)
Profit/(loss) per share
Basic share (in US dollars per share)	11	0.055	(0.245)
Diluted share (in US dollars per share)		0.053	(0.245)

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 March 31, 2021 and December 31, 2020

(Amounts expressed in thousands of US Dollars)

	Notes		As of March 31,		As of December 31,
	2021	2020
Assets
Non-current assets
Property, plant and equipment	12	1,035,486	1,002,258
Goodwill	13	28,484	28,484
Other intangible assets	13	20,406	21,081
Right-of-use assets	14	21,037	22,578
Trade and other receivables	16	33,087	29,810
Deferred income tax assets			80		565
Total non-current assets		1,138,580	1,104,776
Current assets
Inventories	18	10,491	13,870
Trade and other receivables	16	74,501	51,019
Cash, bank balances and other short-term investments	19		163,387		202,947
Total current assets			248,379		267,836
Total assets		1,386,959	1,372,612
Shareholders' equity and liabilities
Shareholders' equity
Share capital	20	659,400	659,400
Share-based payments		25,213	23,046
Other accumulated comprehensive losses		(3,584)	(3,511)
Accumulated losses			(165,559)		(170,417)
Total shareholders' equity		515,470	508,518
Liabilities
Non-current liabilities
Deferred income tax liabilities		137,067	135,567
Lease liabilities	14	15,994	17,498
Provisions	21	22,780	23,909
Income tax payable		1,750	-
Borrowings	17.1	352,656	349,559
Warrants	17.4	431	362
Employee benefits	25		3,389		3,461
Total non-current liabilities		534,067	530,356
Current liabilities
Provisions	21	2,022	2,084
Lease liabilities	14	6,524	6,183
Borrowings	17.1	197,185	190,227
Salaries and social security payable	22	6,537	11,508
Other taxes and royalties payable	23	7,243	5,117
Accounts payable and accrued liabilities	24		117,911		118,619
Total current liabilities			337,422		333,738
Total liabilities			871,489		864,094
Total shareholders' equity and liabilities			1,386,959		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 three-month period ended March 31, 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	-	-	-	4,858	4,858
Other comprehensive income for the period	-	-	(73)	-	(73)
Total comprehensive income	-	-	(73)	4,858	4,785
Share-based payments (1)	-	2,167	-	-	2,167
Amounts as of March 31, 2021	659,400	25,213	(3,584)	(165,559)	515,470

1. Including 3,014 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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