DETAIL OF SIGNIFICANT STATEMENT OF FINANCIAL POSITION AND STATEMENT OF COMPREHENSIVE INCOME CAPTIONS

Other receivables

	2017				2016
	Current		Non Current		Current		Non Current
Turnover tax credit balance		-		-		1,074		-
Income tax credit balance		-		-		962		-
VAT credit balance		105,367		-		101,460		-
Other tax receivables ⁽¹⁾		7,229		2,564		15,430		68,686
Prepaid expenses		21,783		-		20,124		-
Advances to suppliers		375,505		-		70,203		-
Subsidies receivables		173,311		-		156,399		-
Easements to be recovered		-		461		-		461
Other Receivables UT		2,247		-		-		-
Others		9,874		9,081		12,620		6,318
Total		695,316		12,106		378,272		75,465

⁽¹⁾	As of December 31, 2016 other non current tax receivables include Ps. 65,539 of income tax and VAT credits generated by the reversion of the tariff increase credit .

The breakdown of other receivables based on its currency of origin is the following:

	2017				2016
	Current		Non Current		Current		Non Current
Argentine Pesos		650,186		12,106		359,103		75,465
U.S. Dollars		45,130		-		19,169		-
Total		695,316		12,106		378,272		75,465

Trade receivables

	2017				2016
	Current		Non Current		Current			Non Current
Ordinary		2,008,861		3,055		1,128,454			8,122
Natural Gas Transportation		890,370		-		405,388			-
Production and Commercialization of Liquids		909,065		-		550,596			-
Other services		209,426		3,055		172,470			8,122
Related parties		24,679		-		117,688
Natural Gas Transportation		9,687		-		5,544			-
Other services		14,992		-		112,144			-
Allowance for doubtful accounts		-		-		(19,703	)		-
Total		2,033,540		3,055		1,226,439			8,122

The breakdown of trade receivables based on its currency of origin is the following:

	2017				2016
	Current		Non Current		Current		Non Current
Argentine Pesos		960,693		-		568,500		-
U.S. Dollars		1,072,847		3,055		657,939		8,122
Total		2,033,540		3,055		1,226,439		8,122

The movement of the allowance for doubtful accounts is as follows:

Balances as of December 31, 2015	1,389
Additions ⁽¹⁾	19,703
Applications	(1,389	)
Reversals	-
Balances as of December 31, 2016	19,703
Additions	-
Applications	-
Reversals ⁽¹⁾	(19,703	)
Balances as of December 31, 2017	-

⁽¹⁾	The total amount is recorded in Selling Expenses

Cash and cash equivalents

	2017		2016
Cash and banks		664,910		650,248
UT Cash and banks		471		-
Mutual funds		1,263,969		901,680
Bank account		659,448		3,161
UT Mutual funds		64,005		-
Total		2,652,803		1,555,089

The breakdown of cash and cash equivalents based on its currency of origin is the following:

	2017		2016
Argentine Pesos		1,340,795		921,768
U.S. Dollars		1,312,008		633,321
Total		2,652,803		1,555,089

Advances from customers

	2017				2016
	Current		Non Current		Current		Non Current
Aluar Aluminio Argentino S.A.C.I. ("Aluar")		6,742		138,238		6,742		144,980
Advances from customers -UT-		59,868		-		-		-
Total Austral S.A. ("Total Austral")		-		-		795		-
YPF S.A. ("YPF")		2,526		4,517		2,434		6,947
Pan American Sur S.A. ("PAS")		-		-		530		-
Pan American Energy L.L.C. ("PAE")		2,182		56,805		2,182		58,976
PBB Polisur S.A. ("Polisur")		5,115		94,804		3,905		98,531
Otros		4,571		3,805		21,006		4,252
Total		81,004		298,169		37,594		313,686

Advances from customers are denominated in pesos.

Other payables

	2017				2016
	Current		Non Current		Current		Non Current
Payable for compensation for the Board of Directors and Supervisory Commitee		-		-		2,334		-
Justice fee payable		31,882		-		-		-
Others		1,665		-		1,482		-
Total		33,547		-		3,816		-

Other payables are denominated in pesos.

Taxes payables

	2017				2016
	Current		Non Current		Current		Non Current
Withholdings and perceptions made to third parties		54,014		-		43,687		-
Tax on exports		638		-		2,299		-
Turnover Tax		28,862		-		4,570		-
Others		13,043		-		8,636		-
Total		96,557		-		59,192		-

Taxes payables are denominated in pesos.

Trade payables

	2017				2016
	Current		Non Current		Current		Non Current
Suppliers		1,332,298		-		911,318		-
UT Suppliers		7,610		-		-		-
Customers (credit balances)		10,736		-		8,592		-
Related companies		102,659		-		41,338		-
Total		1,453,303		-		961,248		-

The breakdown of trade payables based on its currency of origin is the following:

	2017				2016
	Current		Non Current		Current		Non Current
Argentine Pesos		614,699		-		290,245		-
U.S. Dollars		838,604		-		671,003		-
Total		1,453,303		-		961,248		-

Cost of sales

	2017			2016			2015
Inventories at the beginning of the year		116,863			8,452			29,131
Purchases		3,718,129			2,868,189			1,574,999
Operating costs (Note 8.i.)		2,794,321			1,676,137			1,164,227
Inventories at the end of the year		(105,996	)		(116,863	)		(8,452	)
Total		6,523,317			4,435,915			2,759,905

i) Expenses by nature – Information required under art. 64 paragraph I, clause B) Commercial Companies Law

	2017
				Operating expenses
Accounts	Total			Regulated Activities			Non Regulated Activities		Administrative expenses		Selling expenses			Financial expenses

Salaries, wages and other compensations		1,104,770			530,892			289,732		222,528		61,618			-
Social security taxes		188,424			82,847			49,461		42,825		13,291			-
Compensation to Directors and Supervisory Committee		8,455			-			-		8,455		-			-
Professional services fees		61,786			1,504			3,055		52,109		5,118			-
Technical operator assistance fees		354,518			160,095			194,423		-		-			-
Materials		59,949			18,602			41,347		-		-			-
Third parties services		128,072			52,922			63,530		10,519		1,101			-
Telecommunications and post expenses		9,936			1,323			1,217		6,912		484			-
Rents		6,827			1,980			962		3,407		478			-
Transports and freight		35,514			21,124			12,056		2,314		20			-
Easements		21,490			21,490			-		-		-			-
Offices supplies		3,450			1,041			368		1,589		452			-
Travels expenses		19,325			8,643			3,174		5,613		1,895			-
Insurance		32,262			18,848			10,724		2,413		277			-
Property, plant and equipment maintenance		640,468			554,602			80,590		5,276		-			-
Depreciation of property, plant and equipment		358,420			219,245			112,693		26,482		-			-
Taxes and contributions		566,058			131,187			7,943		719		426,209	⁽¹⁾		-
Advertising		479			-			3		-		476			-
Doubtful accounts		(12,055	)		-			-		-		(12,055	)		-
Banks expenses		4,438			-			-		4,438		-			-
Interests expense		469,325			-			-		-		-			469,325
Foreign exchange loss		717,234			-			-		-		-			717,234
Other financial charges		103,586			-			-		-		-			103,586
Derivative financial instruments results		-			-			-		-		-			-
Costs of services rendered to third parties		69,059			-			69,059		-		-			-
Transactions among business segments		-			(150,388	)		150,388		-		-			-
Other expenses		35,580			19,206			8,433		7,396		545			-
Year ended December 31, 2017		4,987,370			1,695,163			1,099,158		402,995		499,909			1,290,145

⁽¹⁾	Includes tax on exports of Ps. 700 for year ended December 31,2017

	2016
			Operating expenses
Accounts	Total		Regulated Activities			Non Regulated Activities		Administrative expenses		Selling expenses			Financial expenses

Salaries, wages and other contributions		814,731		403,546			200,403		163,999		46,783			-
Social security taxes		139,356		64,518			33,944		30,874		10,020			-
Compensation to Directors and Supervisory Committee		6,328		-			-		6,328		-			-
Professional services fees		41,392		1,434			3,645		32,657		3,656			-
Technical operator assistance fees		168,008		54,128			113,880		-		-			-
Materials		43,205		14,153			29,052		-		-			-
Third parties services		94,185		37,014			49,257		7,914		-			-
Telecommunications and post expenses		5,177		342			1,087		3,405		343			-
Rents		3,219		722			252		2,099		146			-
Transports and freight		27,614		17,020			9,846		709		39			-
Easements		19,315		19,315			-		-		-			-
Offices supplies		2,679		917			305		1,223		234			-
Travels expenses		9,972		4,832			1,550		2,742		848			-
Insurance		26,509		15,048			9,330		1,771		360			-
Property, plant and equipment maintenance		209,257		150,923			52,100		5,065		1,169			-
Depreciation of property, plant and equipment		286,798		190,031			47,928		48,839		-			-
Taxes and contributions		355,446		80,365			8,927		728		265,426	⁽¹⁾		-
Advertising		584		-			-		-		584			-
Doubtful accounts		20,546		-			-		-		20,546			-
Banks expenses		2,120		-			-		2,120		-			-
Interests expense		431,561		-			-		-		-			431,561
Foreign exchange loss		711,822		-			-		-		-			711,822
Other financial charges		66,392		-			-		-		-			66,392
Derivative financial instruments		8,933		-			-		-		-			8,933
Costs of services rendered to third parties		40,453		-			40,453		-		-			-
Transactions among business segments		-		(71,079	)		71,079		-		-			-
Other expenses		28,136		13,908			5,962		4,906		3,360			-
Year ended December 31, 2016		3,563,738		997,137			679,000		315,379		353,514			1,218,708

⁽¹⁾	Includes tax on exports of Ps . 11,081 for the year ended December 31, 2016.

	2015
Accounts	Total		Regulated Activities			Operating expenses Non Regulated Activities		Administrative expenses		Selling expenses			Financial expenses
Salaries, wages and other contributions		564,489		295,429			121,264		114,577		33,219			-
Social security taxes		98,812		46,067			19,839		25,962		6,944			-
Compensation to Directors and Supervisory Committee		5,379		-			-		5,379		-			-
Professional services fees		25,025		563			1,124		21,139		2,199			-
Technical operator assistance fees		52,481		3,000			49,481		-		-			-
Materials		29,113		10,545			18,568		-		-			-
Third parties services		51,604		20,161			25,429		6,014		-			-
Telecommunications and post expenses		4,161		445			778		2,714		224			-
Rents		2,619		516			367		1,615		121			-
Transports and freight		19,506		12,484			6,634		381		7			-
Easements		15,003		15,003			-		-		-			-
Offices supplies		1,508		531			239		634		104			-
Travels expenses		8,279		4,069			1,290		2,285		635			-
Insurance		22,850		12,935			8,280		1,279		356			-
Property, plant and equipment maintenance		137,814		105,054			28,791		3,262		707			-
Depreciation of property, plant and equipment		261,393		184,251			66,734		10,408		-			-
Taxes and contributions		261,712		60,094			4,999		524		196,095	⁽¹⁾		-
Advertising		154		-			-		-		154			-
Banks expenses		1,430		-			-		1,430		-			-
Interests expense		320,428		-			-		-		-			320,428
Foreign exchange loss		1,164,585		-			-		-		-			1,164,585
Other financial charges		41,718		-			-		-		-			41,718
Costs of services rendered to third parties		26,375		-			26,375		-		-			-
Transactions among business segments		-		(21,435	)		21,435		-		-			-
Other expenses		17,486		8,512			4,376		4,033		565			-
Year ended December 31, 2015		3,133,924		758,224			406,003		201,636		241,330			1,526,731

⁽¹⁾	Includes tax on exports of Ps . 61,057 for the year ended December 31, 2015.

Net financial results

	2017			2016			2015
Financial income
Derivative financial instrument results		-			-			128,525
Interest income		87,407			100,418			79,387
Fair value gains on financial instruments through profit or loss		274,620			169,890			55,892
Foreign exchange gain		360,158			135,039			288,764
Subtotal		722,185			405,347			552,568
Financial expenses
Interest expense		(516,643	)		(470,663	)		(343,104	)
Foreign exchange loss		(718,891	)		(712,456	)		(1,165,803	)
Derivative financial instrument results		-			(8,933	)		-
Other financial charges		(103,586	)		(66,392	)		(41,718	)
Less: Capitalized borrowing costs		48,975			39,736			23,894
Subtotal		(1,290,145	)		(1,218,708	)		(1,526,731	)
Total		(567,960	)		(813,361	)		(974,163	)

Other operating expenses

	2017			2016			2015
Net increase in provisions ⁽¹⁾		(141,385	)		(95,840	)		(15,897	)
Recovery of insurance		107,543			19,703			-
Acquisition of the Rights of the Arbitration Proceeding (Note 16.a)		-			-			(324,390	)
Write off of other receivables		(69,391	)		-			-
Others		(1,144	)		10,594			4,836
Total		(104,377	)		(65,543	)		(335,451	)

⁽¹⁾	Includes judicial costs

Other financial assets at fair value through profit or loss

	2017				2016
	Current		Non Current		Current		Non Current
Government bonds		148,130		-		55,508		84,857
Private bonds		72,099		-		-		58,015
Total		220,229		-		55,508		142,872

Other financial assets at fair value through profit or loss are denominated in US dollars.

Other financial assets at amortized cost

	2017				2016
	Current		Non Current		Current		Non Current
VRD bonds		7,111		14,473		14,900		21,584
Government Bonds (Argentine National Treasury Notes)		922,314		-		-		-
Government Bonds (Central Bank Notes)		516,003		-		-		-
Total		1,445,428		14,473		14,900		21,584

The breakdown of Other financial assets at amortized cost based on its currency of origin is the following:

	2017				2016
	Current		Non Current		Current		Non Current
Argentine Pesos		523,114		14,473		14,900		21,584
U.S. Dollars		922,314		-		-		-
Total		1,445,428		14,473		14,900		21,584

Payroll and social security taxes payable

	2017				2016
	Current		Non Current		Current		Non Current
Vacation benefit payable		104,739		-		82,476		-
Annual bonus payable		84,895		-		50,788		-
Social security taxes payable		45,573		-		35,595		-
Total		235,207		-		168,859		-