Investor Presentation

Important Note Regarding Projections and Other

Forward-Looking Statements

Purpose of this Presentation: The material that follows is a presentation of general information about Vista Oil & Gas, S.A.B. de C.V. (BMV: VISTA) as of the date of this presentation, it is

not illustrative of any transaction, and is distributed for information purposes only. The information contained herein is public, comes from public sources or is informative in nature. All

material information in connection with Vista has been disclosed through the Mexican Stock Exchange and is available at www.bmv.com.mx or otherwise maintained by the Company in

accordance with applicable law We are providing this presentation for informational purposes only. This presentation does not constitute an offer to sell, a solicitation of an offer to buy, or a

recommendation to purchase any securities. Specifically, thispresentation doesnot constitute a placement prospectus(prospecto de colocación) or equivalentdocument.

Proprietary Information: This presentation contains proprietary information. You may not copy it, excerpt it, summarize it or distribute it or any of its contents to any other person or entity,

in whole or in part. Any person receiving this presentation, by the mere fact of such reception, acknowledges and agrees that it shall not copy, excerpt, summarize, or distribute it or any of its

contents.

Other Matters: This presentation does not constitute an agreement of any kind, or as legal, tax or investment advisory advice or of any other kind. You must consult your own advisors for

any such advice. This presentation is not aimed at, or destined to be distributed or used by any person or entity that is a citizen or resident in any state, country or other jurisdiction in which

i ts use or distribution are prohibited by law or where any additional registration or license is required. Neither the National Banking and Securities Commission (“CNBV”), nor any other

authority have approved or disproved the information herein, aswell asits accuracy or sufficiency.

Forward-Looking Statements: This presentation contains forward-looking statements, including projections, estimates, targets and goals, information regarding potential operational results

and descriptions of our business strategies, intentions and plans. Forward-looking statements may be identified by such words as “anticipate,” “believe,” “continue,” “could,” “estimate,”

“expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and other similar terms and expressions. Forward-looking statements are not historical

facts. They are based on expectations, beliefs, forecasts and projections, as well as on beliefs by our management team, that, while made on a good faith basis, are inherently uncertain

and beyond our control. Forward-looking statements that cover multiple future periods are, by their nature, more uncertain and subject to factors that could cause them to differ materially

from actual results. Any such expectations, beliefs, forecasts and projections are made only as of the date of this presentation. We undertake no obligation to update any such information or

any forward-looking statement made in thispresentation after the date hereof.

Forward-looking statements in this presentation may include, for example, our financial performance, changes in our reserves and operational results and our expansion opportunities and

plans. Factors that could cause actual results to differ from any forward-looking statement include: (1) the occurrence of any event, change or other circumstances that could affect our

business; (2) the outcome of any legal proceedings; (3) competition and our ability to grow and manage growth profitably; (4) changes in applicable laws or regulations; (5) the possibility that

we may be adversely affected by other economic, business, and/or competitive factors; and (6) other additional risks and uncertainties, including the risk factors that we disclose in our filings

with the CNBV and the Mexican StockExchange (Bolsa Mexicana de Valores, or “BMV”). We encourage you to read all such fil ings.

Nothing in this presentation, and in particular, no projection or other forward-looking statement, should be construed as a guarantee of future performance, or as a prediction of

actual results. Actual results may differ materially from the projections or other forward-looking statements contained in this presentation. Due to their inherently uncertain

nature, you are cautioned not to rely on any such projections or forward-looking statements. We and our affiliates, adv isors, agents and other representativ es expressly

disclaim any liability to you in connection with any undue reliance on the information contained in this presentation, and in particular with respect to any projections or other

forward-looking statements.

2

http://www.bmv.com.mx/

47%

21%

5%

4%

3%

3%

17%

Revenues 2018E (1)

EBITDA 2018E (1)

Production Q3 2018

1P Reserves (2)

Vaca Muerta Net Acreage

$445 MM

$190 MM

24.2 kboe/d

55.7 MMBoe

~134,000 acres

Company Metrics

Listed in Bolsa Mexicana de Valores: VISTA and VTW408A

Total Shares Outstanding: 70.4 MM(3)

6th largest oil producer in Argentina(4)

Vista’s Company OverviewSizable and operated asset base

Concentrated in Argentina’s Premier Basin

• Conventional assets with production base, infrastructure in place, and top-quality Vaca Muerta acreage ready for full scale development

• Eight operating and one non-operating clusters in the Neuquina basin• Two non-operated blocks in Noroeste and Golfo San Jorge basins

Neuquina Basin Blocks(5)

OTHERS

3

Important Note: projections, estimates, targets and goals are forward-looking statements and not guarantees of future performance. See “Important Note Regarding Projections and Other Forward-Looking Statements.”

1. Based on Company estimates.

2. Reserv es as of December 31, 2016, based on Ministerio de Hacienda, Secretaría de Energía (Presidencia de la Nación).

3. 70,409,315 Class A Shares and 2 Class C Shares.

4. Av erage Q3 2018 production, based on Ministerio de Hacienda, Secretaría de Energía.

5. Two non-operated blocks in Noroeste and Golf o San Jorge basins not shown.

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1. Based on a PV10 discounted cash flow project level valuation assuming $30/bbl flat in real terms and realized gas price of $4.6/mmbtu flat in real terms.

2. 2018E f igures based on Company Information.3. Of f set operators, including YPF in partnership with Chevron and Petronas, Shell, and Wintershall

4. At $63.8/bbl realized crude oil price.

Platform Poised for GrowthTop quality assets well-fit for Vista Management Team

5. Considers $300 MM term loan and cash balance of $123 MM, as OF September 30th and Annualized Adj. EBITDA was calculated by multiplying Q2 and Q3 Adj. EBITDA by 2, as stated in the Company’s 300 $MM term loan contract. .

6. ISO 14001 and OSHAS 18001 certificates in place.7. Resulting from additional landing zones.

8. 2018E-2022E Compounded Average Growth.

Important Note: projections, estimates, targets and goals are forward-looking statements and not guarantees of future performance. See “Important Note Regarding Projections and Other Forward-Looking Statements.”

2022

target

PRODUCTION: +65 Kboe/d ~30% CAGR (8)

EBITDA:+$900 MM ~50% CAGR (8)

EBITDA MARGIN:+60% >20 p.p.(8)

High-growth organic development plan, based on this premium

asset base.

4

• High-quality, low -cost conventional proved reserves base – 55.7 Mmboe of 1P

reserves (65% oil) w ith break-even price of $30/bbl(1)

• High-margin conventional production base – 24.2 Kboed (60% oil) w ith EBITDA

margin of 45%(2)

• Vaca Muerta net acreage – 134,000 top-quality net acres located next to ongoing

shale developments and completed pilots (3)

• Operational cluster – Proximity of blocks and overlap of future Vaca Muerta

development and current conventional operation is key to eff icient fast-track

development

Premium Neuquina Basin

Asset Base

• Conventional assets generate significant, low -risk cash flow – 2018E target

EBITDA of $190 MM(4)

• Solid balance sheet – Net debt/EBITDA ratio of 0.8x(5)

Strong Financial Position

• Fully functional operating platform – ~190 employees and strong HSE track

record(6)

• Discretionary and flexible timing of development plans – operated, mostly 100%-

ow ned assets w ith minimal capex commitments

• Operated infrastructure in place – initial development phase covered by existing

treatment and transport spare capacity

• Deep inventory of highly profitable Vaca Muerta drilling locations – 413 risked

locations included in base plan (out of 1,100 potential locations)(7)

Actionable and Profitable

Growth Plan

• Credentials and organization leverageable for regional expansion – either through

acquisitions, joints-ventures or future licensing rounds

• Access to deal flow and strong BD pipeline of actionable opportunities – focus on

building an initial Mexico platform and complementary deals in Argentina

Unique platform poised for Regional

Expansion

▪ Staffed top-notch unconventional team▪ Drilled surface and intermediate sections of first 4-well pad in Bajada del Palo Oeste with

conventional rig▪ Fit-for-purpose rig already drilling▪ Expected tie-in of first pad in Q1 2019.

1. JV Coirón Amargo Norte still being operated under APCO operatorship

Start-up MilestonesPath to near-term value creation

Contained conventional base production decline

Right-sized conventional operations

Integrate acquired entities and assets

▪ Integrated operating teams▪ Reinforced safety and security standards▪ Redefined management structure procuring a lean, flat and project-centric organization▪ Reshuffled Management Team▪ Started process to implement ERP system and real time operations monitoring.

Launched the development of Vaca Muerta

▪ Identified profitable, low-risk, new wells, leveraging existing facilities▪ Hired 2 rigs, currently drilling conventional targets▪ 1 workover rig dedicated to well completions and workovers▪ Implemented facilities de-bottlenecking plan▪ Launched subsurface studies to redefine the projects portfolio.

▪ Almost 100% consolidated operatorship of all assets into single operating company, Vista Oil & Gas Argentina S.A.(1)

▪ Streamlining cost base across assets▪ Ongoing cost reduction program

▪ First regional step in Mexico: 3 blocks at 50% participation in JV with Jaguar Exploration & Productions (Deal closed in December 2019; Vista will become the operator of two of these blocks in mid 2019)

▪ Currently evaluating other growth opportunities

Pursuing regional expansion plan

5

1

2

3

4

5

1. Based on reserv es certification as of December 2016. Sur Río Deseado Este (a non-operated JV) is not included.

2. 35-y ear exploitation concession in the process of being requested to provincial authorities 3. Total net acreage includes 12,809 net acres from Sur Río Deseado Este.

Conventional Assets OverviewHigh-quality oil-prone production cluster

Asset Overview(1)

• Clustered acreage position in the Neuquina Basin covering ~511k acres in the

Provinces of Neuquén, Río Negro and Salta.

• Oil and gas production from w ell-understood reservoirs through primary and

secondary recovery; ~1,031 active producing w ells and more than 190 injector

w ells

• Multiple infill drilling and w aterf lood projects identif ied; current recovery factor

below 15%

• Light crude oil production (Medanito type API >31°); sold to domestic off -takers

plus quality prime of approximately 1 USD/bbl, minus ~2 USD/bbl discount

retentions

• Gas production sold to industrial clients (94%), spot sales to pow er generation

and traders (6%) at an average market price of $5.1/Mmbtu in Q3 2018.

• Treatment and evacuation infrastructure in place w ith spare capacity

• Exploratory upside in the tight gas reservoirs of the Cuyo, Lotena, and Los Molles

formations

Production24.2 Kboe/d

1P Reserves55.7 MMboe

3P Reserves82.6 MMboe

Asset Profile

Oil Gas

P2P1 P3

6

8%

OPERATED FIELDS NON-OPERATED FIELDS

TOTALNet Metricsby Asset

Entre Lomas (EL)Agua Amarga (AA)

Jagüel de los Machos (JDM)Medanito (MED)

Bajada del Palo Oeste (BDPO)Bajada del Palo Este (BDPE)

Coirón Amargo Norte (CAN)Águila Mora (AM)

Acambuco (ACAM)Coirón Amargo Sur Oeste (CASO)

W.I. (%) 100% 100%100%BDPO - 100%BDPE -

55%CAN – 90% AM1.5%ACAM - 10%CASO -

1P Reserves(1) (MMBoe) 23.0 17.0 14.5 - 55.7

Acreage 275,887 79,072 146,819 6,041 520,628(3)

Production Q3 2018

average daily (boe/d)9,037 8,116 6,598 441 24,191

Concession Term2026 EL

2034 /2040 AA

2025 JDM

2026 MED

2038 CAN

2053 BDPO

2053 BDPE

2019 AM (2)

2053 CASO -

Vaca Muerta Shale Oil Opportunity (1/2)Favorable combination of value drivers

1. Based on Company estimates, Ministerio de Hacienda, Secretaría de Energía. and the EIA

2. Based on independent third party analy sis on Company ’s acreage made by WDVG –

Petroleum Engineering Laboratories

3. Aggregate position including current and past inv estments.

Core Location in Shale Oil Window

PERMIAN

(W OLFCAMP)EAGLE FORD

BAJADA DEL PALO OESTE

TOC (%) 5.5 4.54.2

Thickness (m) 172 41250

Pressure (psi/ft) 0.48 0.800.90

4. Brent at strip f or 2018 and 2019 as of 1/22/18 and $60/bbl f lat in 2018 real terms f rom 2020 onwards;

realized gas price of $4.6/mmbtu f lat in real terms.

5. Based on a discounted cash f low project lev el v aluation assuming $35/bbl f lat in real terms and realized

gas price of $4.6/mmbtu f lat in real terms, and a 10% discount rate.

• Completed pilots and ongoing development in adjacent blocks mitigate risk• Production performance in neighboring blocks supports Vista’s type curve(2)

• Operated infrastructure in place with spare capacity for initial development phase• Full discretion and flexibility on timing of Bajada del Palo Oeste, Bajada del Palo

Este and Águila Mora development (99% of net acreage)• Top-notch operating partner in Coirón Amargo Sur Oeste (Shell), with significant

Vaca Muerta experience (1% of net acreage)

With the Most Experienced Management Team in Developing Vaca Muerta

• Drilled 500 wells across play (~60% of Vaca Muerta activity to date)• Delivered 47% well cost reduction• Reached 50K boe/d, from zero(2)

• In-depth technical knowledge

And Access to Riverstone’s North America Shale Expertise

• Active in all major shale basins• ~3.1 MM acres and ~300K boe/d(3)

• Leading E&P industry CEOs including Mark Papa and Jim Hackett

Target single well IRR > 75%(4) and target

Break-even price(5) of $35/bbl

Ready for Full Scale Development

7

134,000+ Net Acres

Potential Best-in-Class Resource Properties(1)

Águila Mora Block (90% op WI)

Net acres: 20,700

Bajada del Palo Oeste Block

(100% op WI)Net Acres: 62,500

Bajada del Palo Este Block (100%

op WI)Net acres: 48,600

Coirón Amargo Sur Oeste Block (10%

non op WI)Net acres: 1,631

1. Based on third party report. June 2018.2. Based on Ministerio de Hacienda, Secretaría de Energía

Vaca Muerta Shale Oil Opportunity (2/2)Activity significantly mitigates risk of Bajada del Palo West

Unconventional Operations Map in Shale Oil Window

LA AMARGA CHICA

COIRÓN AMARGO SUR OESTE

SIERRAS BLANCAS/ CRUZ DE LORENA

BANDURRIA SUR

8

• Second unconventional oil pilot in Argentina

• Commenced third pilot phase in 2018(2)

• Current production: 8.1kboe/d(2)

• First unconventional oil well CASO.x-1 completed and productive since March 2018, performing above type well curve.

• Total Capex 18.7 MM$, with 2,000 mt (6,560 ft) lateral length and 27 fracs.

• Landing zone in Upper La Cocina.

• First six month of production totalized 137.5 kboe vs estimatedtype well curve of 126 kboe.

• 18 wells drilled(2)

• SB-1005 one of the top producing wells in the basin, with IP of 1kbbl/d + 600 MMscfd(2)

• Current production: 3.5kboe/d(2)

• JV signed in 2017 with ~$390 MM committed(2)

• Pilot Phase: two-stage(4)

• Six wells drilled (4 horizontals)(2)

• Two vertical exploration wells

• Four horizontal wells drilled(2)

AGUADA FEDERAL

A

C

D

E

F

LOMA CAMPANA

• First unconventional oil pilot completed in Argentina

• In full development mode

• ~559 wells drilled of which ~148 horizontal with up to 10,500ft (3,200m) lateral length(1)

• Current production: 45kboe/d(2)

B

Águila Mora Block (90% op WI)

Bajada del Palo Oeste Block

(100% op WI)

Bajada del Palo Este Block

(100% op WI)

Coirón Amargo Sur Oeste Block (10% non op WI)

A

B

C

D

E

F

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0 30 60 90 120 150 180 210 240 270 300 330 360

2015

2016

2017

2018 +14%

2.77 2.77

2.31

2.031.88

1.73 1.731.62

Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

7,216ft (2,200m)

hz. well

cost of $11.7 MM

1. Based on Loma Campana information from YPF’s 3Q17 investor presentation and Giga consulting June 2018, Woodmac May 2018.2. Based on Ministerio de Hacienda, Secretaría de Energía (Presidencia de la Nación).

3. Based on Company estimates and Ministerio de Hacienda, Secretaríade Energía

Vaca Muerta Progress to DatePlay’s risk has been substantially mitigated over the last five years

Improvements in Horizontal Well Productivity(2) Achieved Ramp-up in Production(3)(kboe/d)

Oil

Gas

9

(kbbl)

Days

300 DayCumulative Production

+9%

Cumulative Production

Increasing Horizontal Well Lateral Length(1) Capex per Well has Declined(1)

4,920ft (1,500m)

hz. well

cost of $8.2 MM

(Lateral length – f t) (Av erage frac stages – #) (k$ / lateral f t)

4,920 4,264 4,920 4,920 4,920 5,248 4,920 7,216

1617 17 17 17

1918

27

Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017

+18%

150 DayCumulative Production

Month/Year

+100%

Oil EUR (kbbl) 873

IP 30 (bbl/d) 734

180-day cum (kbbl) 125

1. Based on independent third party analysis on Company’s acreage made by WDVG – Petroleum Engineering Laboratories.2. Does not include capital expenditures for facilities.

Potential for Superior ReturnsWell productivity and well cost reduction drive economics

Vista Vaca Muerta Type Curve(1)

OPERATED FIELDS

• Type curve based on Bajada del Palo Oeste simulation model, historical

production between the Orgánico and La Cocina targets, and horizontal

laterals of >3,280 ft (1,000 m)

150

50

100

0

200

100 300 500 (Days)

P50

(bbl/d per 4,920ft

(1,500m))

Daily Production

Cumulative

Production

1,000

100

0

P50

(MMbbl per 4,920ft

(1,500m))

Well Cost Reduction Drive Boost in IRRs(2)

Realized oil price $/bbl

$9.5 MM

(IRR %)

NPV10 af ter tax($MM)

6,560 ft (2,000m)

horizontal well cost:

10

Gas EUR (Bcf) 0.6 Total EUR (kboe) 983

Dry gas IP 30 (MMcf/d) 0.5 IP 30 (boe/d) 826

180-day cum (Bcf) 0.1 180-day cum (kboe) 141

2,500

3,622

800

1,696

2012 2017

Vaca Muerta

Permian

Vaca Muerta MomentumNow is a favorable time to enter the play

Source: Wall Street Research, Company Filings, Press Articles, Texas Railroad Commission and Ministerio de Hacienda, Secretaría de Energía.1. Super Majors include Exxon (and subsidiary XTO), Shell, BP (through its subsidiary in Argentina, Pan American Energy), and Chevron.

2. Public f ilings and press releases. Permian adjusted for production value at $35,000 / boe/d. 3. Permian Pure Play companies include Concho, Diamondback, Parsley Energy, and RSP Permian; trading multiple represents annual average Enterprise Value / annual net Permian acres.

Super Majors(1) Focusing on Permian and Vaca Muerta

(Net Acres Held in ‘000s)

Discount to Permian Trading Multiples Narrowing(2)

(Permian trading comps and Vaca Muerta acquisition precedents at average adjusted

US$/net acres)

Vaca Muerta Appears Poised to Follow Permian’s Growth Trajectory

$1,5000

11

+112%

+45%

3,905 3.277 1,000

7,255

36,461 35,725

42,86848,864

2014 2015 2016 2017

Vaca Muerta Acquisition Multiple US Permian Pure Play Trading Multi lple

0

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300

400

500

600

0

40

80

120

160

200

2012 20182013 2014 2015 2016 2017

Vaca Muerta 2012 Production: ~4 Mboepd

Permian Year 0 (2008): Production Re-Based to 0 Mboepd

(Mboepd)

($ MM) $1,500 $5,300Vaca Muerta Inv estments (4) $250$550 $450

Permian VM Permian Year 5 (2014): +556 Mboepd

VM 2018 Q3 Production: ~200 Mboepd

(3)

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2016 2017E 2018E 2019E

29.9

119

68

143

366

2016 2017E 2018E 2019E

13 14

23

36

2016 2017E 2018E 2019E

Historical and Target CAPEX(1)

Outlook (1/2)Vaca Muerta-driven growth plan leveraging existing conventional operating platform

1. Based on Company information and Company estimates. Important Note: projections, estimates, targets and goals are forward-looking statements and not guarantees of future performance. See “Important Note Regarding Projections and Other Forward-Looking Statements.”

Historical and Target Wells(1)

(#)

Historical and Target Production (1)

($ MM)

(kboe/d)

+57%

+156%

+24%

12

Unconv entionalConv entional

29.8

27.1

24.1

199

169152

165

2016 2017

proforma

2018E 2019E

240

182 190

288

42% 41% 43%49%

-90%

-70%

-50%

-30%

-10%

10%

30%

50%

70%

90%

(50)

-

50

100

150

200

250

300

2016 2017

proforma

2018E 2019E

575

445 445

583

2016 2017

proforma

2018E 2019E

111 108

Two-Year Outlook (2/2)Goal is to deliver superior financial results through intended growth strategy

1. Based on 2018 annualized f orecast results and Company estimates assuming $60/bbl flat in 2019 in real term, and realized gas price of $4.6/mmbtu flat in real terms.

Historical and Target Revenues(1)

($ MM)

Historical and Target OPEX(1)Lifting Cost

($ MM)

Unconv entionalConv entional

($ MM)

Consolidated

Historical and Target EBITDA(1)EBITDA Margin

2. Does not include cash flow from financing activities.3. Does not include cash balance in PELSA and APCO O&G Int’l.

Important Note: projections, estimates, targets and goals are forward-looking statements and not guarantees of future performance. See “Important Note Regarding Projections and Other Forward-Looking Statements.”

($ MM)

2016 2018-2021

Cumulative

2022-2025

Cumulative2017E

~1,100

Historical and Target Free Cash Flow(1)(2)

-12%

+52%

13

(%)

~(300)

($/bbl)

+31%

18.316.8

17.315.1

14

Company HighlightsKey differentiation factors

World-class Management team

Development-ready, core Vaca Muerta shale position

High-growth Development plan

Unique platform for regional expansion

Cash-flow generating asset base

Appendix Agenda

Portfolio Overview 01

Q3 Results 02

Management Team 03

15

Business Plan InitiativesDrive cash flow generation and grow profitably

1. Drilling and Completion.

Conventional

Tailored Operational Approach Key Initiatives Goals

• Nimble, ultra-lean operating model

• Rapid decision making, close to the work front

• Continuous cost and efficiency improvements

• Development - infill drilling and waterflooding optimization

• Subsurface – review models

• Operations – review contracting models

• Pulling & Work Over – right-size contract to asset base

• Field Service – labor efficiencies

✓ Contain production decline

✓ Production optimization

✓ Find & develop new structures

✓ Cost control & opexreduction

Unconventional

• Secure attractive positions early in the basin life cycle

• Tight integration across subsurface, facilities, D&C(1), and production

• Full-scale efficiency-focused D&C(1) operation

• Top notch unconventional standalone unit

• Batch drilling

• Extended horizontal laterals

• Customized frac designs

• Strategically sourced key supplies (frac sand, water, and drilling fluids)

✓ Rapid growth

✓ Accelerated learning curve

✓ High IRR development

✓ Efficient factory-mode development

✓ Optimized well performance

Corporate

• Asset-centric organization

• Management close to the workfront

• Tailored standards and operational procedures to improve cost and efficiency

• Close collaboration with service providers

• Recruit and train the best local basin specialists

• Integrate and streamline acquired entities and assets

• Focus on efficiency and revamp corporate culture

• Proactive stakeholders engagement

✓ Cost synergies

✓ P&L accountability

✓ Support from key stakeholders

16

Quintuco/Vaca Muerta Formation

• World class unconventional formation in production since 2010• TOC ranges from 2 to 10%• Thickness ranges from 25 to over 500 meters• Source rock of Neuquina Basin

Mulichinco/Lajas/Lotena Formation

• Tight gas formations with solid results all throughout the basin• Sands and conglomerates with low permeability requiring hydraulic stimulation to

enhance productivity• Productivity depth ranges from 2,000 to 4,000 meters

Tordillo/Sierras Blancas /PuntaRosada

• Conventional formations with over 40 years of production history• Light oil with API above 32˚ • Most of the these formations under secondary recovery

Neuquina Basin StratigraphyMultiple formations enhance growth potential

Synthetic Stratigraphic Column

17

A

B

C

A

B

C

Neuquina Basin – ConventionalProfitable conventional assets with potential for further upside

Asset Overview

• Eight operated and one non-operated concessions, with concession terms through 2025/2026/2040/2053 (with 10 year extensions available under Federal Hydrocarbon Law under predefined bonus formula)

• Oil and gas production from well understood reservoirs with primary and secondary production

• Contiguous acreage position across three concessions in the Río Negro and Neuquén provinces covering ~315k acres in the Neuquina Basin plus ~67k acres closely located (less than 50 km away)

• High quality oil production with upside potential through infill drilling and waterflood expansion

Key Stats(1)

• 1P reserves of 55.7 MMboe and 2P reserves of 74.7 MMboe(2)

• 2018 avg production as of Q3 of 24.2 kboe/d (60% oil)

• Reserve life of 7.5 years

• Land holdings of ~521,000 net acres

Vista’s start-up milestones in conventional assets

• Consolidated operatorship of all assets into single operating company

• Streamlining cost base across assets and a cost reduction program

• Containing conventional base production decline, leveraging existing facilities, assigned one workover rig dedicated to well completions and Workovers, and implemented facilities de-bottlenecking plan.

Conventional Operations Map(1)

(1) Based on Company information and Ministerio de Hacienda, Secretaría de Energía.(2) Reserv es as of December 31, 2016.Important Note: projections, estimates, targets and goals are forward-looking statements and not guarantees of future performance. See “Important Note Regarding Projections and Other Forward-Looking Statements.” 18

Neuquina Basin – UnconventionalLarge potential of core Vaca Muerta play

Asset Overview

• Three operated (132,000 acres) and one non-operated concession (~ 2,000 net acres) in the core of Vaca Muerta

• Full-scale, development-ready, Vaca Muerta core acreage

• Bajada del Palo Oeste, Bajada del Palo Este and Coirón Amargo Sur Oeste are in the same prospectivity window as La AmargaChicha (YPF-Petronas), Loma Campana (YPF-Chevron), Sierras Blancas and Cruz de Lorena (Shell) and Aguada Federal (Wintershall), which have completed pilots and/or are in development phase

• Significant progress in cost reduction has improved economics of development over the past few years

Key Stats(1)

• Land holdings of 134,000 net acres

• EUR (P50): 311 MMBoe

• Drilling inventory: 413 in base case plan (out of >1,100 potential locations)

• Staffed top-notch unconventional team complementing Management team with top experience in Vaca Muerta

• Support from Riverstone, leading PE investor in North American shale (technology, network, etc.)

• Drilled surface and intermediate sections of first 4-well pad in Bajada del Palo with conventional rig. Skidding rig already drilling and a fit-for-purpose rig arriving.

Unconventional Operations Map

19

Vista’s start-up milestones - unconventional assets

(1) Based on Company information and Ministerio de Hacienda, Secretaría de Energía.

Águila Mora Block (90% op

WI)

Bajada del Palo Oeste Block

(100% op WI)

Bajada del Palo Este Block (100%

op WI)

Coirón Amargo Sur Oeste Block (10%

non op WI)

Bajada del Palo Oeste Location and Potential Landing

ZonesMultiple landing zones generate extensive drilling inventory

Bajada del Palo Oeste Core Location Map

Bajada del Palo Oeste Overpressure Map

West side

of the block

between

40 and 32

API°

API°:

0 50 100

150

200

250

300

350

Overpressure (kg/cm2):

Prospective Area

20 25 30 35 40 45 50 55 60

Source: WDVG – Petroleum Engineering Laboratories.(1) A section equals to 1.6 km (1.0 mile).

(2) Includes 413 wells in base plan.

West side

of the block

above 250

kg/cm2

(4,600 psi)

Multiple Stack Pay Zones~5 wells per section(1)

2,800

2,850

2,900

CA

RB

ON

ATE

OR

GA

NIC

LA C

OC

INA

Up to fiv e different landing zones being tested in adjacent blocks

Tested

20

PotentialIn base plan

413 Wells +1,100 Wells(2)

Selected Precedent Acquisition MultiplesPrecedent transactions in Vaca Muerta

Precedent Acquisition Multiples

Source: Press releases and media coverage.1. Based on Ministerio de Hacienda, Secretaría de Energía.

($/acre)

Buyer

Seller

Acres

Area

Date

27,667

Bandurria Sur

Apr-17

27,500

Bajada de Añelo

Feb-17

23,095

La AmargaChica

Mar-15

49,970

La Escalonada

Apr-14

14,374

Aguada Federal

Jan-14

48,500

Loma Campana

Jul-13

5,050

El Orejano

Sep-13

Bajo del Toro

19,390

Jun-17

Medanito $/bbl(1) 55.1 56.4 57.8 75.6 79.5 72.4 74.6 74.9

No No Yes No Yes No NoNoBuyer Acquired

Operatorship

21

$8,500$7,200 $7,000

$8,600

$6,000$7,300

$8,800

$14,000

Fast Track to Full-Scale Development (1/2)Bajada del Palo Oeste development versus typical schedule

Important Note: projections, estimates, targets and goals are forward-looking statements and not guarantees of future performance. See “Important Note Regarding Projections and Other Forward-Looking Statements.”

TYPICAL

DEVELOPM ENT

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7

BAJADA DEL PALO

OESTE FAST TRACK

DEVELOPM ENTFull-Scale DevelopmentRamp-up

Pilot Phase 1 Field Development in Factory Mode

Delineation Phase

3D seismic acquisition and interpretation

• Prospective drillable area definition

Data gathering in vertical wells:

• Core acquisition for the w hole VM interval

• Full set of logs (sonic and image)

• Thermal maturity confirmation

Petrophysical analysis to determine

landing zones

Already completed for Bajada del Palo Block

Advanced understanding for Bajada del Palo Block

Pilot Phase 1

Inputs for field development plan• Pad configuration definition• Number of wells per pad• Batch drilling and optimization• Completion design optimization

Field development plan elaborationFacilities constructionSand & water logistics optimizationScale contracts negotiation

Full-Scale Development

Ramp up in activity

Operations standardization

Production optimization

• Choke management policy

• Artif icial lif t optimization

• Flow assurance

• Telemetry and Automation (Control Room

monitoring)

• Preventive shut-in policy to prevent

interference

Well construction continuous improvement

• Real time optimization (Remote Operations

Center)

• Procedure for new technology testing

22

Horizontal wells to confirm landing

zone productivity

Delineation Phase

4 early production facilti iesand new crude oil treatment plant

Fast Track to Full-Scale Development (2/2)Facilities capacity in place allow for initial development phase startup

Bajada del Palo OesteOil Treatment & Disposal

Facilities for Initial Development Phase Facilities for Full-Scale Development

Bajada del Palo OesteGas Treatment & Disposal

Gas pipeline Centro Oeste

Gas pipeline Aguada del ChanarUSP-14 LC - YPF

Gas pipeline Aguada del ArenaBorde Montuoso

Gas pipeline Borde Montuoso NEUBA II

EC-8

EC-9

6km 4km 27km

OTP-

Pipeline PH-PR

EC-8

EC-9

1

2

3

4

EPF

Oil Treatment PlantOTP

Entre Lomas

Bajada del Palo

1BMo

2BMo

1BP

N1

pipeline to construct

Battery

Existing Pipeline

Pipeline to Construct

Bajada del Palo

EC-8 EC-9

LPG-HRUPlants

Gas pipeline Aguada la ArenaBorde Montuoso

Prospective

Area

Existing gas pipelines with spare capacity in the proximity of the block

6,000m pipeline

from Entre Lomas to existing pipeline

23Important Note: projections, estimates, targets and goals are forward-looking statements and not guarantees of future performance. See “Important Note Regarding Projections and Other Forward-Looking Statements.”

OTP

Appendix Agenda

Portfolio Overview 01

Q3 Results 02

Management Team 03

24

Daily Production(1)

Revenues

Adj. EBITDA(2)

Cash at end of period

Financial Debt

Net Leverage Ratio(3)

24,200 boe/d

116.9 $MM

57.1 $MM

123.3 $MM

300 $MM

0.8x

Vista Oil & Gas 3rd Quarter Highlights

EBITDA Margin

49%

Unconventional activity

2 active rigs

1. Includes natural gas liquids (NGL) and excludes f lared gas, injected gas and gas consumed in operations.

2. Adj. EBITDA = Gross prof it + Fix assets depreciation + Other assets depreciation + Extraordinary expenses (Income).

3. Annualized Adj. Ebitda was calculated by multiply ing Q2 and Q3 Adj. EBITDA by 2.

Operated production

reversed decline

+ 0.4%

assigned to Bajada del Palo

25

kboed

Q3 2018

Total Operated Daily production

Total operated production

Reverted decline in operated production (98% of total production)

Q2 2018

▪ 1 active drilling rig; drilled 13 conventional wells in Q2/Q3

▪ 1 workover rig has already performed 13 well completions and 14 workovers

▪ All wells targeted oil prone formations

Q3 2018 Conventional activity

Containing conventional base production decline

Q1 2018Q4 2017

24.1

23.7 23.825.4 24.3

New Wells Drilled

9New Wells Tied-in

10Workovers

10

Q3 2018Q2 2018Q1 2018

-1.2%

0.4%

-4.2%

Quarterly production growth

26

Daily production

Oil production

Total production above guidance, driven by oil

14.8

kbbld

Natural gas production NGL production

1.38

Mm3d

744 730

bbld

(1) Guidance is Vista’s initial plan (presented to inv estors) on a f ull y ear 2018 basis, adjusted by the day s of the 3rd quarter.

Q3 2018

14.6

Q2 2018 Q3 2018Q2 2018

14.7 1.42 744

Q3 2018Q2 2018

0.0%

-1.9%

Total production

24.2

kboed

+0.4%

Q3 2018

24.1

Q2 2018

Q3 Guidance

(1)

24.4

+1.4%

14.6 1.38

744

27

Adjusted EBITDA

+19.2%

Adj. EBITDA(2)

Margin significantly ahead of guidance

$MM

57.1

47.9

1. Guidance is Vista’s initial plan (presented to inv estors) on a f ull y ear 2018 basis, adjusted by the number of day s of the 3rd quarter.

2. Adj. EBITDA = Gross prof it + Fix assets depreciation + Other assets depreciation + Extraordinary expenses (Income).

49.5

+6 p.p.

49%

43%

45%

Adj. EBITDAMargin%

Q3 2018Q2 2018 Q3 2018Q2 2018

Margin expansion driven by cost reductionQ3

Guidance

(1)

28

Crude oil average price

6.0

$/Bbl

Revenues and pricing

Realized prices above guidance

Natural Gas average price$/MMBTU

67.0

Q3 2018

67.5

Q3 2018

5.1

1. Guidance is Vista’s initial plan (presented to inv estors) on a f ull y ear 2018 basis, adjusted by the number of day s of the 3rd quarter.

2. Q2 rev enues do not include Net Sales corresponding to f irst week of the quarter of Medanito and Jagüel de los Machos production. Such production was sold by Pampa Energía S.A. and is included as

credit in other current assets

4.7

Q2 2018

68.0

Q2 2018

4.8

+0.7%+7.4%

Main off-takers were Trafigura, Shell

and YPF.

Seasonal effect explains above guidance result. Sales to industrial segment was 94% of volumes, the

remaining 6% being spot sales (power generation, traders).

Q3 Guidance (1)

$MM

Revenues

Q3 2018

116.9

Q2 2018 (2)

110.3

+4.2%

112.2

Sales of all products above guidance.

29

Opex

Operating expenses reduced by cost-cutting initiatives and impact of the Peso devaluation

Total Opex$MM

Opex per boe$/boe

39.3

Q3 2018

26.3

17.3

Q3 2018

11.8

1. Guidance is Vista’s initial plan (presented to inv estors) on a f ull y ear 2018 basis, adjusted by the number of day s of the 3rd quarter.

Q2 2018

31.3

Q2 2018

14.1

-33.1%

Opex Highlights▪ Renegotiated contracts:

▪ right-sized O&M providers

▪ formulae, tariffs and base currency

▪ Redesign shifts efficiently

▪ Reduced trucks

▪ Peso denominated cost base reduced by argentine currency devaluation

Q3 Guidance

(1)

-31.8%

“One Team” Pulling▪ Reduced to 1 service provider

▪ Operating objectives mutually agreed

in the contract, with aligned interest

▪ Restructured pulling contracts, from

hourly rate to per job rate

▪ Reduced from 5 to 4 pulling units

30

5.4

23.7

3.6

13.4

2.0

2.5

Conventional

Unconventional

Facilities and others

Breakdown of Capex$MM

CapexSignificantly reduced conventional drilling cost

Conventional activity:

• 9 wells drilled and completed and 1 well completed from Q2 in Medanito and Jagüel de los Machos fields, plus 10 workover

• In October, started drilling first well targeting Lotena formation (natural gas)

• Executing plan to de-bottleneck natural gas facilities

Key aspects of Q3 Capex

39.6

11.0

Q3 2018Q2 2018

Conventional drilling performance

Q3 20182017

1.42.4

-41.7%

Average drilling days

12

7.4

Average cost per well ($MM/well)(1)

1. Cost per v ertical well of 1,600 to 1,800 meters of v ertical depth.

Unconventional activity:

• Drilling of 1 isolation, 2 surface and intermediate sections of first 4-well pad in Bajada del Palo

• Accrual of already disbursed 4.7 $MM in Coirón Amargo Sur Oeste well CASO.x-1

31

Well CASO.x-1Average monthly Production in kbbld

Vaca Muerta developmentOn track to tie-in first well in Q1 2019

CASO.x-1 w ell w as closed during the month of September

Coirón Amargo Sur Oeste

First well continues to show successful performance in the area.

Ty oe curv e

Actuals

Bajada del Palo Oeste

Bajada del Palo

Oeste Block

(Vista 100%)

First Pad Location

(4 hz. Wells)

CASO Block

(Shell operated)

• Plan on track to deliver first 4 well pad in Q1 2019

• 2 active drilling rigs (1 walking rig and 1 spudder rig)

• Started construction of Early Production Facility for the first set of pads

• Two blocks with 35-year term unconventional concessions, 12% royalty rate.

Actuals

Ty pe curv e

• The use of a spudder rig to drill surface and intermediate section adds cost efficiency.

• Completion of last mile with the use of sand boxes.

Proof of concept: drilling and completion strategy

32

Bajada del Palo

Este Block

(Vista 100%)

Vista increased its acreage in Vaca MuertaAdded 15,000 net acres through asset swap with Shell

Type of Concession Exploration Permit due Sep-19

Area (gross acres) 23,000

Partners 90% Vista; 10% Gy P

Wells Drilled (#) 4

• Acquired 90% operated working interest in Águila Mora (“AM”) from

Shell in exchange of 35% non-operated working interest in Coiron

Amargo Sur Oeste (“CASO”) plus a 10 $MM consideration

• Retained 10% non-operated working interest in CASO

• 10 $MM consideration will be used to upgrade existing water sourcing

infrastructure operated by Shell to supply Vista’s well completion plan

• Pending provincial approval for AM Joint Venture contract amendment

Aguila Mora Key Facts

Acquired Sold Net Acquisition

20,7005,708

CASOAM Net Acreage to Vista

~15,000 +10 $MMfor water infrastructure

Cross Assignment of Rights Agreement Map of the blocks

Net Acreage swapped in Vaca Muerta

Highly prospective acreage in northern zone of Vaca Muerta’s volatile oil window, will add significant drilling inventory with operatorship.

No pending commitments; new commitments to be negotiated with new 35-year concession (pilot expected to be launched in 2020).

Coirón Amargo Sur Oeste Block

Águila Mora Block

33

1.4 x

74.8

44.0

40.4

-35.9

123.3

Beginning of period Operating activities Financing activities Investment activities End of period

Financial overviewSolid financial position and strong cash generation from operations

Gross Leverage Ratio 1.5 x

Net Leverage Ratio 1.0 x

Leverage ratios (1)(2) Q2 Q3

Q3 2018 Cash Flow

0.8 x

$MM

Q3 2018

44.0

Q2 2018

31.6

Cash Flow from Operations$MM

+39.2%

1. Q2 annualized adjusted EBITDA was calculated based on Company estimates of 190 $MM.

2. Q3 ratios were calculated based on: (i) Annualized Adj. Ebitda was calculated by multiply ing Q2 and Q3 Adj. EBITDA by 2. (ii) Financial debt which represents Vista’s total f inancial liabilities as of September

30th 2018, and (iii) Ending Cash Balance as of September 30th, 2018.34

• Reverted operated production decline

• Further reduced operating expenses to 11.8 $/boe

• Conventional drilling cost 42% below 2017

Concluding remarks

Solid operational

results

Progress in

Vaca Muerta

Strong cash generation

• Bajada del Palo development plan on track with 2 drilling rigs

• Implementing drilling strategy to reduce costs

• Executed swap deal to increase net acres by ~15,000; AM block

Q3 2018 results firm up track to deliver 2018 guidance

• EBITDA Margin of 49%, 6 p.p. above guidance

• Improved working capital management

• Increased cash position to 123 MM$

• Maintained healthy leverage ratios

35

Consolidated Balance SheetAs of September

30, 2018As of June 30, 2018

Cash and cash equivalents 123.3 74.8

Trade and other receivables, net 78.6 64.2

Recoverable taxes 0.1 0.3

Inventories 1.6 2.5

Other current assets 3.0 25.1

Total current assets 206.6 166.9

Prepaid expenses - 1.8

Property, plant and equipment 782.3 634.3

Goodwill 12.6 118.3

Other non-current assets 12.0 16.7

Investments in associate 2.6 2.6

Total non-current assets 809.5 773.7

Total assets 1,016.1 940.6

Trade payables 43.6 44.5

Sundry creditors - 1.0

Loans and borrowings 4.5 252.6

Interest payable - 2.1

Income tax payable 17.1 16.1

Taxes payable other than income tax 8.1 8.6

Salaries and contributions 4.1 -

Provisions 3.2 1.1

Total current liabilities 80.6 326.0

Deferred income tax 158.0 101.0

Labor obligations 3.7 3.6

Loans and borrowings 294.4 -Provisions 18.6 28.7

Total non-current liabilities 474.7 133.3

Total liabilities 555.3 459.3

Total equity 460.8 481.3

Total liabilities and equity 1,016.1 940.6

Consolidated Balance SheetAmounts expressed in $MM

36

1. Adjusted EBITDA = Operating prof it + depreciation + exploration expenses + extraordinary expenses.

Adjusted EBITDA(1) reconciliation

Adjusted EBITDA for Q3 2018 was 57.1$MM, 19.2% above guidance of

47.9$MM. Adjusted EBITDA Margin was 49%, 6 percentage pointsahead of guidance of 43%.

Net Result

Vista recorded a net loss of 22.3$MM during Q3. This was mainly due to

non-cash charges including: Current Income taxes of 13.2$MM andDeferred Income taxes of 17.8$MM.

Consolidated Income StatementAmounts expressed in $MM

Adjusted EBITDA Reconciliation

($MM)

July 1, 2018 to September 30

2018

April 1, 2018 to June 30 2018

Operating profit 25.0 12.8

Depreciation 29.4 27.8

Restructuring expenses 2.7 6.2

Transaction costs of initial business

combination and others

- 2.7

Adjusted EBITDA(1) 57.1 49.5

Adjusted EBITDA Margin (%) 49% 45%

Income Statement

July 1, 2018 to September 30

2018

April 1, 2018 to

June 30 2018

Revenues 116.9 110.3

Revenues from crude oil sales 91.8 85.3

Revenues from natural gas sales 23.3 22.7

Revenues from gas liquids 1.8 2.3

Cost of sales 72.8 75.9

Operating expenses 26.3 31.3

Depreciation 29.4 27.8

Royalties 17.1 16.8

Gross profit 44.1 34.3

Commercial expenses 7.2 5.0

Administrative expenses 7.9 7.4

Other operating expenses 4.0 9.2

Operating profit (loss) 25.0 12.8

Interest income 1.3 0.5

Interest expense (7.5) (3.7)

Amortized cost (9.1) (4.2)

PV of fut. decommissioning expenses (0.5) -

Foreign exchange loss, net (0.1) (10.4)

Comprehensive financial result (15.9) (17.8)

Equity method (0.4) -

Profit (Loss) before income taxes 8.7 (4.9)

Income taxes (deferred and current) (31.0) (32.0)

Net Result (22.3) (36.9)

37

Appendix Agenda

Portfolio Overview 01

Q3 Results 02

Management Team 03

38

Management TeamExperienced team with a solid track record working together

1. Schlumberger Production Management and Schlumberger Integrated Project Management, business segments of Schlumberger Ltd.

Juan Garoby • More than 20 years of E&P and oilf ield services experience• Previously, Interim VP E&P, Head of Drilling and Completions, Head Unconventionals at YPF

• Former President for YPF Servicios Petroleros S.A. (YPF ow ned drilling contractor)

• Prior experience w ith Baker Hughes Inc. (Brazil, Peru, Ecuador) and Schlumberger Ltd. (Europe and Africa)

• Petroleum Engineering degree from Instituto Tecnológico de Buenos Aires

Chief Operating Officer

Alejandro Cherñacov• More than 10 years of LatAm E&P strategy, portfolio management and investor relations experience

• Previously CFO of small-cap Canada-listed E&P company

• Prior experience as Investor Relations Officer and ran the Upstream Project Portfolio at YPF in Argentina

• Masters in Finance from Universidad Di Tella, Strategic Decision and Risk Management professional certif icate from Stanford

University; Economics degree from Universidad de Buenos Aires

Strategic Planning and Investor Relations Officer

Pablo Vera Pinto

• More than 15 years of international business development, consulting and investment banking experience

• Previously Business Development Director at YPF in Argentina

• Former member of the board of fertilizing company Profertil (Agrium-YPF), pow er generation company Central

Dock Sud S.A. (Enel-YPF) and gas distributor Metrogas S.A. (YPF, acquired from British Gas)

• Prior experience gained at private equity group in South America as Restructuring Manager, CFO and General Manager

of portfolio companies, management consulting at McKinsey & Co. in Europe and investment banking at Credit Suisse in N.Y.

• MBA INSEAD; Economics degree from Universidad Torcuato Di Tella

Chairman and CEO

Miguel Galuccio

Chief Financial Officer

• 25 years of energy experience across f ive continents (integrated oil and gas and oilf ield services)

• Independent board member of Schlumberger

• Former Chairman and CEO of YPF and President of Schlumberger SPM/IPM(1)

• Previously Schlumberger Geomarket Manager for Mexico and Central America

• Prior experience w ith YPF International and Maxus Energy in Argentina and Southeast Asia

• Petroleum Engineering degree from Instituto Tecnológico de Buenos Aires

39

Gastón Remy• More than 15 years of energy industry experience

• Previously, president of Dow Argentina and south region of Latin America (Argentina, Bolivia, Chile, Paraguay and Urug.)

• Prior experience as Legal Director for Latin America and Director for global projects, mergers and acquisitions at the Legal

Department of Dow

• Mr. Remy is Vice-president 1°for the Instituto para el Desarrollo Empresarial de la Argentina (IDEA) and w as the President for

the 53°Coloquio Anual (2017).

• He is a law yer from Universidad de Buenos Aires, and holds an LLM from University of Columbia, New York.

Argentina GeneralManager

Miguel Galuccio’s Track Record at SchlumbergerLed high-growth “company-shaping” global businesses

ABILITY TO ATTRACT TALENT

AND GENERATE NETWORK

STRATEGIC THOUGHT LEADER

• More than 12 years in various senior leadership positions, including President of Schlumberger IPM and SPM, current independent board member of Schlumberger and Geomarket Manager for Mexico and Central America

• Under his leadership, the company conceptualized and implemented novel strategic initiatives with lasting impact

❖ Led the creation of SPM, which currently is a focus growth segment for SLB globally having reached 235 kboe/d

❖ Led Schlumberger’s repositioning with PEMEX, which became one of the top Schlumberger clients globally

• Led IPM to become a benchmark among oil field service companies for operational excellence

– Executed complex projects across five continents in extremely challenging conditions (e.g. Iraq re-entry, Russia, Algeria)

• Developed new business models integrating services with E&P risk-returns under SPM

❖ Burgos, Chicontepec, Alianza and Mesozoico projects with PEMEX (more than 2,000 wells drilled over eight years)

❖ Casabe project with Ecopetrol; SPM tripled production in five years

❖ Shushufindi contract with Petroamazonas (Ecuador): operated by SPM, co-funded by E&P company Tecpetrol(Techint Group) and US private equity firm KKR; SPM doubled production in four years

❖ Barnett shale gas project (Texas) and Bakken shale oil project (North Dakota)

❖ Other projects in China, Romania and Malaysia

• Managed fast-growing global organization with more than 6,300 employees in 55 projects across six regions

❖ Pushed out-of-the-box solutions with strong bottom-line impact by motivating teams and engraining a can-do attitude in the company’s engineers and geoscientists

• Developed vast global network across oil and gas industry

❖ Strong relationships with CEOs of majors, independents and national oil companies

EXECUTION FOCUSED AND RESULTS

DRIVEN

40

Experienced Management With Proven Track RecordMr. Galuccio led a remarkable turnaround of YPF in a complex scenario

STRATEGIC LEADERSHIP WITH

VISIBLE IMPACT

• Contributed to shaping key market reforms including gas pricing incentive scheme, domestic crude pricing support, amended federal hydrocarbons law and reversed decade-long decline in production and reserves

• Laid foundations for economic development of Vaca Muerta: ❖ 500 wells drilled (60% of Vaca Muerta activity to date)❖ 47% well cost reduction down to $8MM per horizontal well ❖ Reached 50,000 boe/d (largest economic shale development outside North America)

STRONG FINANCIAL AND

OPERATIONAL PERFORMANCE

• Tripled share price in first 24 months

• Grew production by more than 100 kboe/d to reach more than 580 kboe/d

• Achieved 45% EBITDA growth to reach more than $5Bn

• Ramped up activity from 25 to 74 drilling rigs at peak maintaining best-in-class safety record

• Achieved reserves growth of 25% to reach more than 1.2 Bnboe

SUCCESSFUL BD, M&A AND

CAPITAL MARKETS EFFORT

ABILITY TO ATTRACT TALENT

AND SOURCE TRANSACTIONS

• Led complex integrated oil and gas organization with more than 20,000 direct employees

• Promoted and recruited best-in-class managers for key positions; implemented world-class talent

management initiatives

• Mr. Galuccio voted Best CEO of Argentina (PwC survey 2014) and LatAm CEO of the Year (BRAVO Latin

Trade business awards 2014)

41

• Closed 20+ transactions w ith deal value in excess of $4Bn; including company-shaping Apache Argentina acquisition ($800

MM) and landmark shale JVs w ith Chevron ($1.4Bn), Petronas ($550MM) and Dow ($180MM)

• Raised more than $8Bn from international and local capital markets with over 30 new issuances betw een 2012 and 2016 (w ith

yields below Argentina’s sovereign benchmark); representing 90%+ of all Argentine international issuances

• Stock covered by more than 20 research analysts from top tier institutions; YPF Management voted top 2 Investor Relations

Team for LatAm oil and gas sector by Institutional Investor

Decades of oil and gas experience in leadership roles consistently delivering remarkable results

Board of Directors comprised by World Class ProfessionalsStrong corporate governance, with majority independent composition

1. Schlumberger Production Management and Schlumberger Integrated Project Management, business segments of Schlumberger Ltd.

Miguel Galuccio • Please refer to page 39 for Mr. Galuccio’sbiographical information

Chairman of the Board

Kenneth Ryan • Partner at Riverstone based in the New York office and Partner and Head of Corporate Development, Capital Strategies, and Inv estor Relations• Prior to joining Riverstone in 2011, Mr. Ryan worked for Gleacher & Company and Gleacher Partners in London and New York, more recently as Managing

Director and Co-Head of Investment Banking

• Currently he serves as member of the investment committee at Riverstone Credit Partners and as member of the board of Riverst one Energy Limited, HES

International and Trailstone

• Mr. Ryan graduated from the University of Dublin Law School, Trinity College

Member of the Board

by Riverstone

Susan L. Segal• Ms. Segal was appointed President and General Director of Americas Society / Council of the Americas in 2003, after working i n the private sector in Latin

America and other emerging markets throughout more than 30 years

• She was a Partner at Chase Capital Partners / JPMorgan Partners with a focus on private equity and pioneering venture capital investments in the region

• Ms. Segal is a member of the Board of Americas Society / Council of the Americas, the Tinker Foundation, Scotiabank and Merca do Libre, as well as President

of the Board of Scotiabank USA

• Ms. Segal graduated from Sarah Lawrence University and received an MBA from Columbia University in the United States

Independent member

of the Board

Mauricio Doehner Cobián• Mr. Doehner has been Executive Vice President of Corporate Affairs and Enterprise Risk Management at Cemex since May 2014

• Mr. Doehner began work with Cemex in 1996 and has held various executive positions in areas such as Strategic Planning, Institutional Rel ationships and

Communications and Business Risk Management for Europe, Asia, Middle East, South America and Mexico

• He worked in Mexico’s Presidential administration leading the relationship with the Mexican public, including diverse issues such as government reforms

and the national budget

• Mr. Doehner holds a Bachelor’s degree in Economics from Tecnológico de Monterrey, an MBA from IESE/IPADE, and a Professional Certificate in

Competitive Intelligence by the FULD Academy of Competitive Intelligence in Boston, Massachusetts

Independent member

of the Board

Pierre-Jean Sivignon• Mr. Sivignon is an advisor to the Chairman and CEO of Carrefour Group in Paris, where he previously held the position of Deputy CEO, CFO a nd Member of the

Executive Board. Prior to his Carrefour Group experience, he was Chief Financial Officer, Executive Vice President, Member of the Board of Management at

Royal Philips Electronics in Amsterdam.

• He held various financial positions of high level at Faurecia in Paris and Schlumberger Limited in New York and Paris.

• Mr. Sivignon graduated from French baccalaureate with honors in France and received an MBA from ESSEC (Ecole Superieure des Sciences Economiqueset

Commerciales) also in France.

Mark Bly• Mr. Bly has more than 30 years of experience in the oil and gas industry, having occupied various executive positions at an international level at BP serving

most recently as Executive Vice President of Safety and Operational Risk

• Mr. Bly was a part of BP’s E&P Executive Group, responsible for monitoring an international portfolio of Angola, Trinidad, Eg ypt, Algeria, and the Gulf of Mexico

• Mr. Bly led the internal investigation of the Deepwater Horizon incident in 2010, and is the author of “Bly Report” that defined the understanding of such event by

the industry and represented the founding of the new organization and global drilling practices program within BP

• Mr. Bly received a Master’s degree in Structural Engineering from the University of California at Berkeley and a Bachelor’s d egree in Civil Engineering from the

University of California at Davis

Independent member

of the Board

Independent member

of the Board

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