Vaca Muerta Strategic Investment
Pro Forma Balance Sheet
($ MM)
Cash and cash equivalents
Accounts receivables
As of September 30, 2017 (1)
As of December 31, 2016(1)
Variance %
$97
$81
20%
$46
$44
5%
Other current assets
$40
$50
-20%
Total current assets
$183
$175
5%
Property, plant and equipment, net
$553
$614
-10%
Other non-current assets
$334
$311
7%
Total non-current assets
$887
$925
-4%
Total assets
$1,070
$1,100
-3%
Accounts payable
$43
$52
-17%
Other current liabilities
$40
$60
-33%
Total current liabilities
$83
$112
-26%
Deferred income tax liability
$126
$136
-7%
Other non-current liabilities
$79
$77
3%
Total non-current liabilities
$205
$213
-4%
Total Liabilities
$288
$325
-11%
Total shareholders equity
$782
$775
1%
(1) These statements have been prepared based on the historical financial information compiled from each of the potential acquisitions as of December 31, 2016 and as of September 30, 2017, and assuming
the creation of the Company on that date. For the preparation of the historical financial information, (i) the financial information regarding PELSA and APCO was compiled in U.S. dollar as of December 31,
2016 and as of September 30, 2017 and (ii) the information relating to the Direct Interests was compiled in Argentine Pesos and converted to U.S. dollar, for comparison purposes. The unaudited
condensed combined pro forma financial statements have been prepared to comply with regulatory ruling issued by Mexican National Banking and Securities Commission in accordance with the
International Financial Reporting Standards ("IFRS") issued by the International Accounting Standards Board ("IASB").
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