Vista Energy SAB de CV ADR 2025年年度报告和过渡报告

FORM20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year endedDecember 31,2024 Commission File Number:001-39000 Vista Energy, S.A.B. de C.V.(Exact name of registrant as specified in its charter) N.A.(Translation of registrant’s name into English) United Mexican States(Jurisdiction of incorporation or organization) Torre Mapfre243 Paseo de la Reforma Avenue, 18thFloorColonia Renacimiento, Alcaldía CuauhtémocMexico City,06600Mexico(Address of principal executive offices) Securities registered or to be registered pursuant to Section12(b) of the Act: *Not for trading, but only in connection with the registration of American Depositary Shares, pursuant to the requirements of the Securities andExchange Commission. Securities registered or to be registered pursuant to Section12(g) of the Act: None Securities for which there is a reporting obligation pursuant to Section15(d) of the Act: None Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by theannual report: 95,285,451outstanding series A shares, with no par value2outstanding series C shares, with no par value Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.☒Yes☐No If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section13 or15(d) of the Securities Exchange Act of 1934. Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2)has beensubject to such filing requirements for the past 90 days.☒Yes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of RegulationS-Tduring the preceding 12 months (or for such shorter period that the registrant was required to submit such files).☒Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, anon-acceleratedfiler, or an emerging growthcompany. See the definitions of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule12b-2of the ExchangeAct. If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registranthas elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuantto Section13(a) of the Exchange Act.☐ † The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to itsAccounting Standards Codification after April5, 2012. Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing: International Financial Reporting Standardsas issuedOther☐by the International Accounting Standards Board☒ If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant haselected to follow. ☐Item 17 ☐Item 18 Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2of the Exchange Act). Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section404(b) of the Sarbanes-Oxley Act (§ 15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Table of Contents TABLE OF CONTENT Presentation of InformationForward-Looking StatementsItem1.Identity of Directors, Senior Management and AdvisersItem2.Offer Statistics and Expected TimetableItem3.Key InformationItem4.Information on the CompanyItem4A.Unresolved Staff CommentsItem5.Operating and Financial Review and ProspectsItem6.Directors, Senior Management and EmployeesItem7.Major Shareholders and Related Party TransactionsItem8.Financial InformationItem9.The Offer and ListingItem10.Additional InformationItem11.Quantitative and Qualitative Disclosures about Market RiskItem12.Description of Securities Other Than Equity Securitie