<SEC-DOCUMENT>0001292814-24-000834.txt : 20240314
<SEC-HEADER>0001292814-24-000834.hdr.sgml : 20240314
<ACCEPTANCE-DATETIME>20240314161759
ACCESSION NUMBER:		0001292814-24-000834
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		12
CONFORMED PERIOD OF REPORT:	20231231
FILED AS OF DATE:		20240314
DATE AS OF CHANGE:		20240314

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Pampa Energy Inc.
		CENTRAL INDEX KEY:			0001469395
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			C1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34429
		FILM NUMBER:		24750403

	BUSINESS ADDRESS:	
		STREET 1:		MAIPU 1
		CITY:			CITY OF BUENOS AIRES
		STATE:			C1
		ZIP:			C1084ABA
		BUSINESS PHONE:		54-11-4809-9500

	MAIL ADDRESS:	
		STREET 1:		MAIPU 1
		CITY:			CITY OF BUENOS AIRES
		STATE:			C1
		ZIP:			C1084ABA
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>pamfs4q23_6k.htm
<DESCRIPTION>6-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<HR SIZE="2" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: #A0A0A0">

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>UNITED STATES</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>SECURITIES AND EXCHANGE
COMMISSION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>Washington, D.C.
20549</B></P>

<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 25%; color: #A0A0A0">

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>FORM 6-K</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>REPORT OF FOREIGN
ISSUER<BR>
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>SECURITIES EXCHANGE
ACT OF 1934</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>For the month of&nbsp;March,
2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>(Commission File
No. 001-34429),</B></P>

<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 25%; color: #A0A0A0">

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>PAMPA ENERGIA S.A.<BR>
(PAMPA ENERGY INC.)</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>Argentina</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><I>(Jurisdiction of
incorporation or organization)</I></P>

<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 25%; color: #A0A0A0">

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>Maip&uacute; 1<BR>
C1084ABA<BR>
City of Buenos Aires<BR>
Argentina</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><I>(Address of principal
executive offices)</I></P>

<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 25%; color: #A0A0A0">

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">(Indicate by check
mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)<BR>
<BR>
Form 20-F ___X___ Form 40-F ______</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; background-color: white">(Indicate
by check mark whether the registrant by furnishing the<BR>
information contained in this form is also thereby furnishing the<BR>
information to the Commission pursuant to Rule 12g3-2(b) under<BR>
the Securities Exchange Act of 1934.)<BR>
<BR>
Yes ______ No ___X___</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">(If &quot;Yes&quot;
is marked, indicate below the file number assigned to the<BR>
registrant in connection with Rule 12g3-2(b): 82- .)</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>



<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;&nbsp;</P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt"><FONT STYLE="background-color: white">This Form 6-K
for Pampa Energ&iacute;a S.A. (&ldquo;Pampa&rdquo; or the &ldquo;Company&rdquo;) contains:</FONT></P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt"><FONT STYLE="word-spacing: 0px; background-color: white"><B>Exhibit
1: </B></FONT><A HREF="ex99-1.htm"> CONSOLIDATED FINANCIAL STATEMENTS (USD)</A></P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt"><FONT STYLE="word-spacing: 0px; background-color: white"><B>Exhibit
2: </B></FONT><A HREF="ex99-2.htm"> CONSOLIDATED FINANCIAL STATEMENTS (ARS) </A></P>



<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt"><B>Exhibit 3: </B><A HREF="ex99-3.htm">Management&rsquo;s Report on Internal Control Over Financial Reporting</A></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt"><I></I></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"></P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B><U><BR>
SIGNATURE</U></B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white"></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; background-color: white">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; background-color: white">Date:&nbsp;March 6, 2024</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 90%">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Pampa Energ&iacute;a S.A.</B></FONT></TD></TR>
<TR>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 72%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">/s/&nbsp;Gustavo Mariani</P>
<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: #A0A0A0"></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Name:&nbsp;Gustavo Mariani</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Title:&nbsp;&nbsp;&nbsp;Chief Executive Officer</P></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>FORWARD-LOOKING
STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; background-color: white">This press release may contain
forward-looking statements. These statements are statements that are not historical facts, and are based on management's current
view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words &quot;anticipates&quot;,
&quot;believes&quot;, &quot;estimates&quot;, &quot;expects&quot;, &quot;plans&quot; and similar expressions, as they relate to
the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends,
the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations
and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements.
Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee
that the expected events, trends or results will a ctually occur. The statements are based on many assumptions and factors, including
general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors
could cause actual results to differ materially from current expectations.</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>
<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt"><I>&nbsp;</I></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99-1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 70.8pt"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 122px; width: 426px"></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0"><B>CONSOLIDATED FINANCIAL STATEMENTS </B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0"><B>AS OF DECEMBER 31, 2023 AND 2022</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 35.4pt; text-indent: -35.4pt"><B>FOR THE YEARS ENDED DECEMBER 31,
2023, 2022 AND 2021</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 35.4pt; text-indent: -35.4pt"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 35.4pt; text-indent: -35.4pt">(In millions of U.S. dollar (&#8220;US$&#8221;))</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 13pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 3pt">&nbsp;<IMG SRC="image_004.jpg" ALT=""></P>

<P STYLE="font: italic 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: center"><B>Report of Independent Registered Public
Accounting Firm</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">To the Board of Directors and Shareholders of</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">Pampa Energ&iacute;a Sociedad An&oacute;nima (Pampa Energ&iacute;a
S.A.)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt"><B><I>Opinions on the Financial Statements and Internal Control over
Financial Reporting</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">We have audited the accompanying consolidated statement of financial
position of Pampa Energ&iacute;a Sociedad An&oacute;nima (Pampa Energ&iacute;a S.A.) and its subsidiaries (the &ldquo;Company&rdquo;)
as of December 31, 2023 and 2022, and the related consolidated statements of comprehensive income, of changes in equity and of cash flows
for each of the three years in the period ended December 31, 2023, including the related notes (collectively referred to as the &ldquo;consolidated
financial statements&rdquo;). We also have audited the Company's internal control over financial reporting as of December 31, 2023, based
on criteria established in <I>Internal Control - Integrated Framework</I> (2013) issued by the Committee of Sponsoring Organizations of
the Treadway Commission (COSO).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">In our opinion, the consolidated financial statements referred to
above present fairly, in all material respects, the financial position of the Company as of December 31, 2023 and 2022<B>, </B>and the
results of its operations and its cash flows for each of the three years in the period ended December 31, 2023 in conformity with IFRS
Accounting Standards as issued by the International Accounting Standards Board. Also, in our opinion, the Company maintained, in all material
respects, effective internal control over financial reporting as of December 31, 2023, based on criteria established in <I>Internal Control
- Integrated Framework</I> (2013) issued by the COSO.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt"><B><I>Basis for Opinions</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">The Company's management is responsible for these consolidated financial
statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal
control over financial reporting, included in Management&rsquo;s Report on Internal Control over Financial Reporting included under Exhibit
99.3. Our responsibility is to express opinions on the Company&rsquo;s consolidated financial statements and on the Company's internal
control over financial reporting based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight
Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities
laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">We conducted our audits in accordance with the standards of the PCAOB.
Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements
are free of material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting was
maintained in all material respects.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Our audits of the consolidated financial statements
included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to
error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence
regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles
used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.
Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting,
assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control
based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances.
We believe that our audits provide a reasonable basis for our opinions.</P>
<P STYLE="font: 9pt Georgia, Times, Serif; text-align: left; margin: 6pt 0 0">Price Waterhouse &amp; Co. S.R.L., Bouchard 557, 8<SUP>th</SUP> floor, C1106ABG - Autonomous City of Buenos Aires, Argentina</P><P STYLE="text-align: left; font: 9pt Georgia, Times, Serif; margin: 0">T: +(54.11) 4850.0000, www.pwc.com/ar</P>


<!-- Field: Page; Sequence: 2; Options: NewSection -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="text-align: left; font: 9pt Georgia, Times, Serif; margin: 6pt 0 0">&nbsp;</P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD></TR></TABLE><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt"><B><I>Definition and Limitations of Internal Control over Financial
Reporting</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">A company&rsquo;s internal control over financial reporting is a
process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting principles. A company&rsquo;s internal control over financial reporting
includes those policies and procedures that (i)&nbsp;pertain to the maintenance of records that, in reasonable detail, accurately and
fairly reflect the transactions and dispositions of the assets of the company; (ii)&nbsp;provide reasonable assurance that transactions
are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and
that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the
company; and (iii)&nbsp;provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition
of the company&rsquo;s assets that could have a material effect on the financial statements.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject
to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or
procedures may deteriorate.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt"><B><I>Critical Audit Matters</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">The critical audit matters communicated below are matters arising
from the current period audit of the consolidated financial statements that were communicated or required to be communicated to the audit
committee and that (i) relate to accounts or disclosures that are material to the consolidated financial statements and (ii) involved
our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our
opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matters below,
providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 6pt; color: red"><SUP>&nbsp;</SUP></FONT><I>The
Impact of Proved Estimates of Oil and Gas Reserves on Oil and Gas Segment Property, Plant and Equipment and Allocated Goodwill.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">As described in Notes 7 and 11.2 to the consolidated financial
statements, as of December 31, 2023, the Company&rsquo;s consolidated net book value of property, plant and equipment balance of the
oil and gas segment was US$ 1.138 million, the goodwill balance allocated to the oil and gas segment was US$ 35 million, and
depreciation expense for the year ended December 31, 2023 was US$ 166 million. As described in Note 6.1.7 to the <FONT STYLE="color: #262626">consolidated</FONT>
financial statements, the Company&rsquo;s management estimates oil and gas reserves which are used in the determination of
depreciation of property, plant and equipment used in the areas of oil and gas, as well as assessing the recoverability of these
assets and goodwill allocated to the oil and gas segment. There are numerous uncertainties in estimating proved and unproved
reserves and future production profiles, development costs and prices, including several factors beyond the producer&rsquo;s
control. Reserve engineering is a subjective process of estimating underground accumulations involving a certain degree of
uncertainty. Reserves estimates depend on the quality of the available engineering and geological data as of the estimation date and
on the interpretation and judgment thereof. Periodic revisions to the estimated oil and gas reserves and related future net cash
flows may be necessary as a result of changes in a number of factors, related to reservoir performance, new drilling, oil and gas
prices, cost, technological advances, new geological or geophysical data, and other economic factors. The estimates of oil and gas
reserves have been developed by employed specialists, specifically petroleum engineers, and audited by independent specialists
engaged by the Company.</P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt"></P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="text-align: left; font: 9pt Georgia, Times, Serif; margin: 6pt 0 0">&nbsp;</P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD></TR></TABLE><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">The principal considerations for our determination that performing
procedures relating to the impact of estimates of proved oil and gas reserves on oil and gas segment property, plant and equipment and
allocated goodwill are a critical audit matter are the significant judgment by management, including the use of specialists, when developing
the estimates of oil and gas reserves, which in turn led to a high degree of auditor judgment and effort in performing procedures to evaluate
the significant assumptions used in developing those estimates, related to future production profiles, development costs and prices.&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">Addressing the matter involved performing procedures and evaluating
audit evidence in connection with forming our overall opinion on the <FONT STYLE="color: #262626">consolidated</FONT> financial statements.
These procedures included testing the effectiveness of controls relating to management&rsquo;s estimates of oil and gas reserves. These
procedures also included, among others, evaluating the methods and significant assumptions used by management in developing these estimates,
related to future production profiles, development costs and prices. The work of management&rsquo;s engaged specialist was used in performing
the procedures to evaluate the reasonableness of these estimates of proved oil and gas reserves. As a basis for using this work, the specialists&rsquo;
competence, capability and objectivity were understood, as well as their methods and assumptions. The procedures performed also included
tests of the data used by the Company&rsquo;s engaged specialists and an evaluation of their findings. Evaluating the significant assumptions
relating to the estimates of proved oil and gas reserves also involved obtaining evidence to support the reasonableness of the assumptions,
including whether the assumptions used were reasonable considering the past performance of the Company, and whether they were consistent
with evidence obtained in other areas of the audit. The procedures performed also included testing that the estimates of oil and gas reserves
were appropriately included in the Company&rsquo;s determination of depreciation expense, as well as in the impairment of non-financial
assets assessment of oil and gas segment.<BR>
<BR>
<FONT STYLE="font-size: 3.5pt; color: red"><SUP>&nbsp;</SUP></FONT><I>Impairment of Non-Financial Long-Lived Assets&nbsp;Related to the
Rinc&oacute;n del Mangrullo and el Tordillo / la Tapera cash generating units within the Oil and Gas Segment</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">As described in Note 7 to the consolidated financial
statements, as of December 31, 2023, the Company&rsquo;s consolidated property, plant and equipment balance of the oil and gas
segment was US$ 1.138 million. According to Notes 6.1.1. and 11.1.1, as of December 31, 2023 there were internal and external
impairment indicators in relation to Rinc&oacute;n del Mangrullo and el Tordillo / la Tapera cash generating units (CGUs).
Management analyzes the recoverability of its non-financial long-lived assets on a periodic basis or when events or changes in
circumstances indicate their recoverable amount may be below their carrying amounts. In order to evaluate if there is evidence that
a CGU could be affected, both external and internal sources of information are analyzed. The recoverable amount is the higher of
value in use and fair value less costs of disposal. Management used value in use to determine the recoverable amount. The value in
use is determined based on the present value of future net cash flows expected to be derived from the CGU, using discount rates that
considers the business segment and the economic conditions in the geographical location of the operations. <FONT STYLE="background-color: white">Management&rsquo;s </FONT>assessment
of the existence of impairment indicators and <FONT STYLE="background-color: white">cash flow projections included key judgments and
assumptions relating to reference prices for products, future demand per type of product, costs evolution, </FONT>macroeconomic
variables such as inflation and exchange rates and <FONT STYLE="background-color: white">the discount rate.</FONT></P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt"></P>


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="text-align: left; font: 9pt Georgia, Times, Serif; margin: 6pt 0 0">&nbsp;</P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD></TR></TABLE><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">The principal considerations for our determination that performing
procedures relating to the impairment of non-financial long-lived assets related to the Rinc&oacute;n del Mangrullo and el Tordillo /
la Tapera CGUs within the oil and gas segment is a critical audit matter are the key judgment by management when evaluating the
existence of impairment indicators and when developing the recoverable value measurement of the non-financial long-lived assets. This
in turn led to a high degree of auditor judgment, subjectivity and effort in performing procedures to evaluate management&rsquo;s assessment
of impairment indicators and cash flow projections and  key assumptions related to reference prices for products, future demand
per type of product, costs evolution, macroeconomic variables such as inflation, exchange rates and the discount rate. In addition, the
audit effort involved the use of professionals with specialized skill and knowledge to assist us in performing these procedures and evaluating
the audit evidence obtained.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">Addressing the matter involved performing procedures and evaluating
audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing
the effectiveness of controls relating to management&rsquo;s impairment assessment, including controls over the valuation of the Company&rsquo;s
non-financial long-lived assets. These procedures also included, among others, evaluating the determination of the Company&rsquo;s CGUs,
as well as the allocation of the assets and liabilities thereto; evaluating the reasonableness of management&rsquo;s assessment over the
existence of impairment indicators; testing management&rsquo;s process for developing the value in use estimate; evaluating the appropriateness
of the discounted cash flow model, as well as the mathematical precision of the calculations; testing the completeness, accuracy, and
relevance of underlying data used in the model; and evaluating the key assumptions used by management related to reference prices
for products, future demand per type of product, costs evolution, macroeconomic variables such as inflation and exchange rates, and the
discount rate. Evaluating management&rsquo;s assumptions involved evaluating whether the assumptions used by management were reasonable
considering (i) the current and past performance of the CGUs, (ii) the consistency with external market and industry data, and (iii) whether
these assumptions were consistent with evidence obtained in other areas of the audit. Professionals with specialized skill and knowledge
were used to assist in the evaluation of the Company&rsquo;s discounted cash flow model and the discount rate. The procedures performed
also included evaluating the sufficiency of the information disclosed in the consolidated financial statements regarding the evaluation
of the recoverable value of long-lived non-financial assets.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt"><I>Acquisition of additional interest in Rinc&oacute;n de Aranda
and divestment in Greenwind S.A. &ndash; fair value determination of assets acquired and liabilities assumed</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">As described in Notes 4.4.5 and 5.2.6 to the consolidated
financial statements, on August 16, 2023, the Company completed the acquisitions of the additional 45% interest in the Rinc&oacute;n
de Aranda block, achieving a 100% interest in the block and, as part of the agreement, transferred 100% of its equity stake in
Greenwind S.A., which only asset is the Mario Cebreiro Wind Farm. On the closing date, the Company determined the fair value of the
assets acquired and liabilities assumed, which amounted US$ 85.8 million, and recorded a gain of US$ 6.6 million to reflect the fair
value of the previously held 55% stake in the Rinc&oacute;n de Aranda block, as well as a gain of US$ 0.2 million to reflect the
result of the asset swap. The Company&rsquo;s management applied significant judgment in estimating the fair value of the assets
acquired and liabilities assumed, which involved the use of key estimates and assumptions with respect to reference prices
for products, future demand per type of product, costs evolution and macroeconomic variables such as inflation, exchange rates and
the discount rate.</P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt"></P>


<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="text-align: left; font: 9pt Georgia, Times, Serif; margin: 6pt 0 0">&nbsp;</P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD></TR></TABLE><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">The principal considerations for our determination that performing
procedures relating to the acquisition of additional interest in Rinc&oacute;n de Aranda and divestment in Greenwind S.A. &ndash; fair
value determination of assets acquired and liabilities assumed is a critical audit matter are: (i) the  key judgment by management
in developing the fair value of the assets acquired and liabilities assumed, which in turn led to a high degree of auditor judgment and
subjectivity in applying procedures relating to management&rsquo;s fair value estimate; (ii) the significant audit effort in evaluating
management&rsquo;s  key assumptions related to reference prices for products, future demand per type of product, costs evolution
and macroeconomic variables, such as inflation, exchange rates and the discount rate; and (iii) the audit effort involved the use of professionals
with specialized skill and knowledge.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">Addressing the matter involved performing procedures and evaluating
audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing
the effectiveness of controls relating to acquisition accounting, including controls over management&rsquo;s valuation of the fair value
of assets acquired and liabilities assumed and controls over development of the assumptions related to reference prices for products,
future demand per type of product, costs evolution and macroeconomic variables such as inflation, exchange rates and the discount rate.
These procedures also included, among others, (i) reading the purchase agreement; (ii) testing management&rsquo;s cash flow projections
used to estimate the fair value of assets acquired and liabilities assumed, which included evaluating the reasonableness of key
assumptions used by management related to reference prices for products, future demand per type of product, costs evolution and macroeconomic
variables such as inflation, exchange rates and the discount rate. Evaluating management&rsquo;s assumptions involved evaluating whether
the assumptions used by management were reasonable considering (i) the current and past performance of the acquired business, (ii) the
consistency with external market and industry data, and (iii) whether these assumptions were consistent with evidence obtained in other
areas of the audit. Professionals with specialized skill and knowledge were used to assist in evaluating the appropriateness of valuation
method and the reasonableness of the discount rate. The discount rate was evaluated by considering the cost of capital of comparable businesses
and other industry factors. The procedures performed also included evaluating the sufficiency of the information disclosed in the consolidated
financial statements regarding business combination.<BR>
<BR>
</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 40%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center">/s/ PRICE WATERHOUSE &amp; CO. S.R.L.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: center">/s/ Carlos Martin Barbafina (Partner)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">Autonomous City of Buenos Aires, Argentina, March 6, 2024.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">We have served as the Company&rsquo;s auditor since 2006.</P>



<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 35.4pt; text-indent: -35.4pt"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 6; Options: NewSection -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="text-align: left; font: 9pt Georgia, Times, Serif; margin: 6pt 0 0">&nbsp;</P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;</TD></TR></TABLE><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="font: bold 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</P>

<P STYLE="font: bold 10pt/120% Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: bold 10pt/120% Times New Roman, Times, Serif; margin: 0; text-align: left"><U>GLOSSARY OF TERMS</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 14.15pt 12pt 0; text-align: justify">The following are not technical
definitions, but they are helpful for the reader&#8217;s understanding of some terms used in the notes to the Consolidated Financial Statements
of the Company.</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-decoration: underline; width: 20%">Terms</TD>
    <TD STYLE="text-decoration: underline; width: 80%">Definitions</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>ADR</TD>
    <TD>American Depositary Receipt</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>AFIP</TD>
    <TD>Federal Administration of Public Revenue&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>BCBA</TD>
    <TD>Buenos Aires Stock Exchange</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>BCRA</TD>
    <TD>Argentina&rsquo;s Central Bank</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>BNA</TD>
    <TD>Banco de la Naci&oacute;n Argentina</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>BO</TD>
    <TD>Official Gazette</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CAMMESA</TD>
    <TD>Compa&ntilde;&iacute;a Administradora del Mercado El&eacute;ctrico Mayorista S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CB</TD>
    <TD>Corporate Bonds</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CC</TD>
    <TD>Combined Cycle&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CENCH</TD>
    <TD>Hydrocarbons Unconventional Exploitations Concessions</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CGU</TD>
    <TD>Cash-Generating Unit</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CIESA</TD>
    <TD>Compa&ntilde;&iacute;a de Inversiones de Energ&iacute;a S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CISA</TD>
    <TD>Comercializadora e Inversora S.A</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Citelec</TD>
    <TD>Compa&ntilde;&iacute;a Inversora en Transmisi&oacute;n El&eacute;ctrica Citelec S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CNV</TD>
    <TD>National Securities Commission of Argentina</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CPB</TD>
    <TD>Piedra Buena thermal power plant</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CPI</TD>
    <TD>Consumer's price index</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CSJN</TD>
    <TD>Argentina&rsquo; Supreme Court of Justice&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">CTB</TD>
    <TD>CT Barrag&aacute;n S.A.</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">CTEB</TD>
    <TD>Ensenada Barrag&aacute;n thermal power plant</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CTG</TD>
    <TD>G&uuml;emes thermal power plant</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CTGEBA</TD>
    <TD>Genelba thermal power plant</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CTIW</TD>
    <TD>Ingeniero White power plant</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CTLL</TD>
    <TD>Loma La Lata thermal power plant</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CTPP</TD>
    <TD>Parque Pilar power plant</TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 7; Options: NewSection -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B><U>GLOSSARY OF TERMS:</U></B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><U></U></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-decoration: underline; width: 20%">Terms</TD>
    <TD STYLE="text-decoration: underline; width: 80%">Definitions</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>EcuadorTLC / PB18</TD>
    <TD>EcuadorTLC S.A. (currently Pampa Bloque 18)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Edenor</TD>
    <TD>Empresa Distribuidora y Comercializadora Norte S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>EMESA</TD>
    <TD>Empresa Mendocina de Energ&iacute;a S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>ENARGAS</TD>
    <TD>National Regulator of Gas</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>ENARSA</TD>
    <TD>Energ&iacute;a Argentina S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>ENRE&nbsp;</TD>
    <TD>National Regulatory Authority of Electricity</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>GASA</TD>
    <TD>Generaci&oacute;n Argentina S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Greenwind</TD>
    <TD>Greenwind S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>GU</TD>
    <TD>Large users</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>GU300</TD>
    <TD>Large users with demand greater than 300 kW</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>GUDI</TD>
    <TD>Distributors&rsquo; large users</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>GUMA</TD>
    <TD>Major large users</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>GUME</TD>
    <TD>Minor large users</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>HI</TD>
    <TD>Hydroelectric</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>HIDISA</TD>
    <TD>Hidroel&eacute;ctrica Diamante S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>HINISA</TD>
    <TD>Hidroel&eacute;ctrica Los Nihuiles S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>HPPL</TD>
    <TD>Hidroel&eacute;ctrica Pichi Pic&uacute;n Leuf&uacute;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>IAS</TD>
    <TD>International Accounting Standards&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>IASB</TD>
    <TD>International Accounting Standards Board</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>IFRIC</TD>
    <TD>International Financial Reporting Interpretations Committee</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>IFRS</TD>
    <TD STYLE="text-align: left">International Financial Reporting Standards</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>INDEC</TD>
    <TD>National Institute of Statistics and Censuses&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>IPIM</TD>
    <TD>Wholesale Domestic Price Index&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>LGS</TD>
    <TD>Argentine Business Organizations Law&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>LNG</TD>
    <TD>Liquefied Natural Gas&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>MAT&nbsp;</TD>
    <TD>WEM&rsquo;s Forward Market&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>MATER</TD>
    <TD>Renewable Energy Forward Market&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"></P>


<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B><U>GLOSSARY OF TERMS:</U></B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><U></U></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-decoration: underline; width: 20%">Terms</TD>
    <TD STYLE="text-decoration: underline; width: 80%">Definitions</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>MBTU</TD>
    <TD>Million of BTU</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>MEyM</TD>
    <TD>Ministry of Energy and Mining&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>MLC&nbsp;</TD>
    <TD>Foreign Exchange Market</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>MVAr</TD>
    <TD>Reactive kilovolt-ampere&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>MW</TD>
    <TD>Megawatt</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>NYSE</TD>
    <TD>New York Stock Exchange</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>OCP</TD>
    <TD>Oleoductos de Crudos Pesados Ltd</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>OCPSA</TD>
    <TD>Oleoductos de Crudos Pesados S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Oldelval</TD>
    <TD>Oleoductos del Valle S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PE Arauco</TD>
    <TD>Arauco Wind Farm</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PEB</TD>
    <TD>Pampa Energ&iacute;a Bolivia S.A.&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PEN</TD>
    <TD>Federal Executive Branch</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PEPE II</TD>
    <TD>Pampa Energ&iacute;a II Wind Farm</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PEPE III</TD>
    <TD>Pampa Energ&iacute;a III Wind Farm</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PEPE IV</TD>
    <TD>Pampa Energ&iacute;a IV Wind Farm</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PEPE VI</TD>
    <TD>Pampa Energ&iacute;a VI Wind Farm</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PISA</TD>
    <TD>Pampa Inversiones S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Refinor</TD>
    <TD>Refiner&iacute;a del Norte S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>RTI</TD>
    <TD>Tariff Structure Review&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>RTT</TD>
    <TD>Transitional Tariff Regime</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>SACDE</TD>
    <TD>Argentine Society of Construction and Strategic Development&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>SE</TD>
    <TD>Secretary of Energy&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>SEC</TD>
    <TD>Security and Exchange Commission</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>TG</TD>
    <TD>Gas Turbine</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>TGS</TD>
    <TD>Transportadora de Gas del Sur S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>The Company / Pampa</TD>
    <TD>Pampa Energ&iacute;a S.A.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 14.15pt 0 0">&nbsp;</P>


<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B><U>GLOSSARY OF TERMS:</U></B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><U></U></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-decoration: underline; text-align: left; width: 20%">Terms</TD>
    <TD STYLE="text-decoration: underline; text-align: left; width: 80%">Definitions</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">The Group</TD>
    <TD STYLE="text-align: left">Pampa Energ&iacute;a S.A. and its subsidiaries</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">TJSM</TD>
    <TD STYLE="text-align: left">Termoel&eacute;ctrica Jos&eacute; de San Mart&iacute;n S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">TMB</TD>
    <TD STYLE="text-align: left">Termoel&eacute;ctrica Manuel Belgrano S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Transba</TD>
    <TD STYLE="text-align: left">Empresa de Transporte de Energ&iacute;a El&eacute;ctrica por Distribuci&oacute;n Troncal de la Provincia de&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Transener</TD>
    <TD STYLE="text-align: left">Compa&ntilde;&iacute;a de Transporte de Energ&iacute;a El&eacute;ctrica en Alta Tensi&oacute;n Transener S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">TV</TD>
    <TD STYLE="text-align: left">Vapor Turbine</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">US$</TD>
    <TD STYLE="text-align: left">U.S. dollar</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">VAR</TD>
    <TD STYLE="text-align: left">Vientos de Arauco Renovables S.A.U.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">VAT</TD>
    <TD STYLE="text-align: left">Value Added Tax</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">VS SLU</TD>
    <TD STYLE="text-align: left">Vientos Solutions S.L.U.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">WACC</TD>
    <TD STYLE="text-align: left">Weighted Average Cost of Capital</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">WEM</TD>
    <TD STYLE="text-align: left">Wholesale Electrical Market&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">YPF</TD>
    <TD STYLE="text-align: left">YPF S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">&nbsp;$</TD>
    <TD STYLE="text-align: left">Argentine Pesos</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 14.15pt 0 0; text-indent: 1in">&nbsp;</P>


<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME</P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt"><B>For the years ended December
31, 2023, 2022 and 2021</B></P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center">(In millions of US$ &#8211; unless otherwise stated)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white; width: 48%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 9%">Note</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 12%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 12%">12.31.2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 12%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Revenue</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">8</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,732</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1,829</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1,508</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Cost of sales</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">9</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,107)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(1,139)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(951)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Gross profit</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">625</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">690</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">557</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Selling expenses</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">10.1</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(66)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(65)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(37)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Administrative expenses</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">10.2</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(185)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(142)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(102)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Exploration expenses</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">10.3</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(7)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Other operating income</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">177</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">131</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">105</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Other operating expenses</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(88)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(46)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(58)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Impairment of property, plant and equipment, intangible assets and inventories</TD>
    <TD STYLE="font-weight: bold; text-align: center"></TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(39)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(38)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(4)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">(Impairment) Recovery of impairment of financial assets</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(4)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Share of profit from associates and joint ventures</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">5.3.2</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(2)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">105</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">100</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Profit from sale/acquisition of companies&acute; interest&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">9</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">17</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Operating income&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">424</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">631</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">579</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Financial income</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.5</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">5</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">10</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Financial costs</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">10.5</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(364)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(221)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(185)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Other financial results</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">10.5</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">558</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">166</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(14)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Financial results, net</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">199</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(50)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(189)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Profit before income tax</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">623</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">581</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">390</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Income tax</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">10.6</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(318)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(124)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(77)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Profit of the year from continuing operations</TD>
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">305</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">457</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">313</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Loss of the year from discontinued operations</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">5.2.1</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(75)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Profit of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 1pt solid; text-align: right">305</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 1pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">457</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 1pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">238</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Other comprehensive income (loss)&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: middle; text-align: left">Items that will not be reclassified to profit or loss</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Results related to defined benefit plans</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(5)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(9)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(3)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Income tax</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">3</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Exchange differences on translation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(78)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">21</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">22</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: middle; text-align: left">Items that may be reclassified to profit or loss</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Exchange differences on translation</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">(97)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">39</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">70</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Other comprehensive (loss) income of the year from continuing operations</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(178)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">54</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">90</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Other comprehensive income of the year from discontinued operations</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">5.2.1</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">64</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Other comprehensive (loss) income of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(178)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">54</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">154</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total comprehensive income of the year</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">127</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">511</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">392</TD></TR>
  </TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 9pt"></FONT></P>


<!-- Field: Page; Sequence: 11 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
</B>(Continuation)</P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt"><B>For the years ended December
31, 2023, 2022 and 2021 </B></P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center">(In millions of US$ &#8211; unless otherwise stated)</P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; width: 48%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 9%">Note</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 12%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: middle; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 12%">12.31.2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 12%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total income (loss) of the year attributable to:</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Owners of the company</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">302</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">456</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">273</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Non-controlling interest</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(35)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">305</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">457</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">238</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total income (loss) of the year attributable to owners of the Company:</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Continuing operations&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">302</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">456</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">312</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Discontinued operations&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(39)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">302</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">456</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">273</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total comprehensive income (loss) of the year attributable to:</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Owners of the Company</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">124</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">510</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">393</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Non-controlling interest</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(1)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">127</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">511</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">392</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total comprehensive income (loss) of the year attributable to owners of the Company:</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Continuing operations&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">124</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">510</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">402</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Discontinued operations&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(9)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">124</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">510</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">393</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Earnings (Loss) per share attributable to equity holders of the Company</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Basic and diluted earnings per share from continuing operations</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">13.2</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">0.22</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">0.33</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">0.22</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Basic and diluted loss per share from discontinued operations</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">13.2</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(0.03)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Total basic and diluted earning per share&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">13.2</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">0.22</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">0.33</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">0.19</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 9pt/115% Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-right: 0; margin-bottom: 10pt">The accompanying notes are an integral
part of these Consolidated Financial Statements.</P>


<!-- Field: Page; Sequence: 12 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">CONSOLIDATED STATEMENT OF FINANCIAL POSITION</P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>As of December 31, 2023 and 2022</B></P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center">(In millions of US$ &#8211; unless otherwise stated)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 14.2pt"></P>




<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; width: 62%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 8%">Note</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 13%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; background-color: white; width: 13%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">ASSETS</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">NON-CURRENT ASSETS</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Property, plant and equipment</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">11.1</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,544</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,164</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Intangible assets</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">11.2</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">96</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">138</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Right-of-use assets</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">19.1.1</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">21</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">9</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Deferred tax asset</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">11.3</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">36</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Investments in associates and joint ventures</TD>
    <TD STYLE="font-weight: bold; text-align: center">5.3.2</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">672</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">902</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Financial assets at amortized cost</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">12.1</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">102</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">12.2</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">35</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">27</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Other assets</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Trade and other receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">12.3</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">18</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">20</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Total non-current assets</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">3,386</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">3,399</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">CURRENT ASSETS</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Inventories</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">11.4</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">205</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">173</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Financial assets at amortized cost</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">12.1</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">105</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">12.2</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">559</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">586</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Trade and other receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">12.3</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">296</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">470</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Cash and cash equivalents</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">12.4</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">171</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">106</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total current assets</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right">1,336</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">1,343</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total assets</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">4,722</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">4,742</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Page; Sequence: 13 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><BR STYLE="clear: both">
<B>CONSOLIDATED STATEMENT OF FINANCIAL POSITION </B>(Continuation)</P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>As of December 31, 2023 and 2022</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(In millions of US$ &#8211; unless otherwise stated)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; width: 62%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 8%">Note</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 13%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 13%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">SHAREHOLDERS&acute; EQUITY</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Share capital</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">36</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">36</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Share capital adjustment</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">191</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">191</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Share premium</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">516</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">516</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Treasury shares adjustment</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Treasury shares cost</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(7)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(23)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Legal reserve</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">45</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">45</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Voluntary reserve</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,433</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">968</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Other reserves</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(15)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(15)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Other comprehensive (loss) income</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(19)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">81</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Retained earnings&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">223</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">477</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Equity attributable to owners of the company</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right">2,404</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right; background-color: white">2,277</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Non-controlling interest</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">9</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total equity</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">2,413</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">2,284</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">LIABILITIES</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">NON-CURRENT LIABILITIES</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Provisions</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">11.5</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">150</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">147</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Income tax and minimum notional income tax provision</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">11.6</TD>
    <TD STYLE="color: white; vertical-align: top; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">55</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">179</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Deferred tax liability</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">11.3</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">297</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">112</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Defined benefit plans</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">11.8</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">16</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">28</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Borrowings</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">12.5</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,224</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,340</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Trade and other payables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">12.6</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">46</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">21</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total non-current liabilities&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">1,788</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">1,827</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">CURRENT LIABILITIES</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Provisions</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">11.5</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Income tax liability</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">11.6</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">17</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Tax liabilities</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">11.7</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">14</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">28</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Defined benefit plans</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">11.8</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Salaries and social security payable&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">11.9</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">19</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">32</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Derivative financial instruments</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Borrowings</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">12.5</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">224</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">273</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Trade and other payables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">12.6</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">238</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">281</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total current liabilities&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">521</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">631</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total liabilities&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">2,309</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">2,458</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total liabilities and equity</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right">4,722</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; background-color: white">4,742</TD></TR>
  </TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 9pt"></FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt/14pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-right: 0; margin-bottom: 0">The accompanying notes are an integral part of
these Consolidated Financial Statements.</P>

<P STYLE="font: 9pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>


<!-- Field: Page; Sequence: 14 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">CONSOLIDATED STATEMENT OF CHANGES IN EQUITY</P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt"><B>For the years ended December
31, 2023, 2022 and 2021 </B></P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center">(In millions of US$ &#8211; unless otherwise stated)</P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="23" STYLE="border-bottom: Black 0.5pt solid; text-align: center">Attributable to owners</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center">Equity holders of the company</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center">Retained earnings</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; border-top-color: Black; border-top-width: 0.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; width: 16%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Share capital</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Share capital adjustment</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Share premium</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center; width: 5%">Treasury shares</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Treasury shares adjustment</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center; width: 5%">Treasury shares cost</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Legal reserve</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Voluntary reserve</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Other reserves</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Other comprehensive income / (loss)&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Retained earnings (Accumulated losses)</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Subtotal</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Non-controlling interest</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Total equity</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Balance as of December 31, 2020</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">38</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">201</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">516</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(6)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">61</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">1,057</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(18)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(50)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(372)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">1,428</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">341</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">1,769</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Legal and voluntary reserve constitution</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(372)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">372</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Capital reduction</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(10)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">38</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(26)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Treasury shares acquisition</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(10)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">10</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(39)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(39)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(39)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Stock compensation plans</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Sale of subsidiary&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(334)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(334)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Profit (Loss) of the year</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">273</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">273</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(35)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">238</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Other comprehensive income of the year</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">98</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">22</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">120</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">34</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">154</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Balance as of December 31, 2021</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">36</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">191</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">516</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(7)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">61</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">659</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(15)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">48</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">295</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,785</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">6</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,791</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Legal and voluntary reserve constitution</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(16)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">311</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(295)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Capital reduction</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Treasury shares acquisition</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(18)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(18)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(18)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Profit of the year</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">456</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">456</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">457</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Other comprehensive income of the year</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">33</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">21</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">54</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">54</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Balance as of December 31, 2022</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">36</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">191</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">516</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(23)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">45</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">968</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(15)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">81</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">477</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">2,277</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">7</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">2,284</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 9pt"></FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 15 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONSOLIDATED STATEMENT OF CHANGES IN EQUITY </B>(Continuation)</P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt"><B>For the years ended December
31, 2023, 2022 and 2021 </B></P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center">(In millions of US$ &#8211; unless otherwise stated)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="21" STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center">Attributable to owners</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Equity holders of the company</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Retained earnings</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; border-top-color: Black; border-top-width: 0.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; width: 23%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Share capital</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Share capital adjustment</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Share premium</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Treasury shares adjustment</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Treasury shares cost</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Legal reserve</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Voluntary reserve</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Other reserves&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Other comprehensive income</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Retained earnings&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Subtotal</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Non-controlling interest</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Total equity</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Balance as of December 31, 2022</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">36</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">191</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">516</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">1</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(23)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">45</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">968</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(15)</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">81</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">477</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">2,277</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">7</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">2,284</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Legal and voluntary reserve constitution</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">478</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(478)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Capital reduction</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">16</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(13)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">3</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">3</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Dividens ditribution</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(1)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(1)</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle">Profit for the year</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">302</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">302</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">305</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Other comprehensive loss for the year</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(100)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(78)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(178)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(178)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Balance as of December 31, 2023</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">36</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">191</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">516</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(7)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">45</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,433</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(15)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(19)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">223</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">2,404</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">9</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">2,413</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 9pt"></FONT></P>

<P STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin: 0">The accompanying notes are an integral part of these Consolidated Financial
Statements.</P>

<P STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin: 0; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin: 0; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin: 0; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin: 0; text-indent: 7.1pt">&nbsp;</P>


<!-- Field: Page; Sequence: 16 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">CONSOLIDATED STATEMENT OF CASH FLOWS</P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt"><B>For the years ended December
31, 2023, 2022 and 2021 </B></P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center">(In millions of US$ &#8211; unless otherwise stated)</P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify; background-color: white; width: 47%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 13%">Note</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 11%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 11%">12.31.2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 11%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Cash flows from operating activities:</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Profit of the year from continuing operations</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">305</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">457</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">313</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Adjustments to reconcile net profit to cash flows from operating activities</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">14.1</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">406</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">302</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">362</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Changes in operating assets and liabilities</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">14.2</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(136)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(140)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(62)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Net cash generated by operating activities from discontinued operations</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">5.2.1</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">116</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Net cash generated by operating activities</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right">575</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right; background-color: white">619</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right; background-color: white">729</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Cash flows from investing activities</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Payment for property, plant and equipment acquisitions</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(758)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(416)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(206)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Payment for intangible assets acquisitions</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(31)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(4)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Collections for sales (Payment for) public securities and shares acquisitions, net</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">130</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(102)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(234)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Recovery (Subscription) of mutual funds, net</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">96</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(1)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">52</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Payment for the acquisition of companies</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(111)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(17)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Collection for equity interests in companies sales</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">72</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">44</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">51</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Collections for property, plant and equipment sales</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Collections for intangible assets sales</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">20</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">21</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Dividends received</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">10</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">18</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">(Payment) Collection of loans</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(6)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">11</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">26</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Net cash used in investing activities from discontinued operations</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">5.2.1</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(166)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Net cash used in investing activities</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">(446)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">(575)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">(474)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Cash flows from financing activities</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Proceeds from borrowings</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">12.5</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">424</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">308</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">188</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Payment of&nbsp;&nbsp;borrowings</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">12.5</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(191)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(143)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(336)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Payment of&nbsp;&nbsp;borrowings interests</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">12.5</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(280)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(162)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(140)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Payment for treasury shares acquisition</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(18)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(39)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Repurchase of corporate bonds</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">12.5</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(28)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(3)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Payments of leases</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(3)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(5)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Payments of dividends</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Net cash used in financing activities from discontinued operations</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">5.2.1</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(7)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Net cash used in financing activities</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">(57)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right; background-color: white">(46)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right; background-color: white">(342)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">Increase (Decrease) in cash and cash equivalents</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">72</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">(2)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">(87)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Cash and cash equivalents at the beginning of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">12.4</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">106</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">110</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">141</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Cash and cash equivalents at the beginning of the year reclasified to assets classified as held for sale</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">5.2.1</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">52</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Exchange difference generated by cash and cash equivalents</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(7)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(2)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">4</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Increase (Decrease) in cash and cash equivalents</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">72</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(2)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(87)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Cash and cash equivalents at the end of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">12.4</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">171</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">106</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">110</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">The accompanying notes are an integral part of these Consolidated Financial
Statements.</P>


<!-- Field: Page; Sequence: 17 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P>

<P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For
the years ended December 31, 2023, 2022 and 2021</B></FONT></P>

<P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In
millions of US$ &#8211; unless otherwise stated)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 1</U>: GENERAL INFORMATION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">1.1 General information of the Company</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company is a fully integrated power
company in Argentina, which participates in the electric energy, oil and gas value chains.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the generation segment, the Company,
directly and through its subsidiaries and joint ventures, has a 5,332 MW installed capacity as of December 31, 2023, which represents
approximately 12% of Argentina&#8217;s installed capacity, and being one of the four largest independent generators in the country. Additionally,
the Company is currently undergoing a process to expand its installed capacity by an additional 140 MW.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the oil and gas segment, the Company
develops an important activity in gas and oil exploration and production, with operations in 12 production areas and 5 exploratory areas
reaching a production level of 10.3 million m3/day of natural gas and 4.8 thousand boe/day of oil in Argentina, as of December 31, 2023.
Its main natural gas production blocks are located in the Provinces of Neuqu&eacute;n and R&iacute;o Negro.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the petrochemicals segment, operations
are located in Argentina, where the Company operates 2 high-complexity plants producing styrene, synthetic rubber and polystyrene, with
a domestic market share ranging between 91% and 100%.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, through the holding and others
segment, the Company participates in the electricity transmission and oil and gas transportation businesses. In the transmission business,
the Company jointly controls Citelec, which has a controlling interest in Transener, a company engaged in the operation and maintenance
of a 22,391 km high-voltage electricity transmission network in Argentina with an 86% share in the Argentine electricity transmission
market. In the gas transportation business, the Company jointly controls CIESA, which has a controlling interest in TGS, a company holding
a concession for the transportation of natural gas with 9,248 km of gas pipelines in the center, west and south of Argentina, and which
is also engaged in the processing and sale of natural gas liquids through the Cerri Complex, located in Bah&iacute;a Blanca, in the Province
of Buenos Aires, in addition to shale gas transportation and conditioning at Vaca Muerta. Besides, the Company owns a 34.08% indirect
interest in OCP (see Note 5.3.4), licensee company of an oil pipeline in Ecuador that has a transportation capacity of 450 thousand barrels/day.
Additionally, the segment includes advisory services provided to related companies.</P>


<!-- Field: Page; Sequence: 18; Options: NewSection; Value: 12 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 1</U>: </B>(Continuation)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">1.2 Economic context</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company operates in an economic context
which main variables are experiencing volatility as a result of political and economic events both in the domestic and international spheres.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">At the local level, the Argentine economy
was affected during the first half of 2023, and for the third consecutive year, by the <I>La Ni&ntilde;a</I> weather phenomenon, which
extended the drought period, affecting agricultural production and generating a significant adverse impact on exports and fiscal revenues.
As a result, at the end of August 2023, the International Monetary Fund granted the relaxation of certain fiscal and monetary targets
for the country and access to approximately US$7,500 million, together with a commitment to implement a new policy package.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, on December 10, 2023, a new government
took office in Argentina that proposes to move forward with the deregulation of the economy and a series of structural reforms aimed at
freeing up restrictions to invest and operate in the country. Among its first measures, on December 21, 2023, PEN Executive Order No.
70/23, &#8220;Bases for reconstructing the Argentine economy&#8221;, was issued, whereby it declared a public emergency in economic, financial,
fiscal, administrative, social security, tariff, health and social matters until December 31, 2025, and set the basis for economic deregulation
and State reform, and provided for extensive modifications to different legal systems. The PEN Executive Order seeks to amend 300 laws,
including reforms to the labor market, the customs code and the status of public companies, among others. Although the PEN Executive Order
must be discussed and ratified by at least one of the Chambers of the National Congress, its provisions are partially effective as from
December 29, 2023, considering a series of judicial actions that have granted the suspension of certain modifications.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Regarding the energy industry, in August
2023, transportation operations of the new Tratay&eacute;n - Salliquel&oacute; section of the Presidente N&eacute;stor Kirchner gas pipeline
began, with the expectation of generating fiscal and productive benefits, better employment, production and energy supply indicators in
the country, and other benefits such as an increase in royalties for the producing provinces and foreign currency savings resulting from
a decrease in imports. The above is complemented by the Reversion of the Northern Gas Pipeline, which is expected to transport gas from
Vaca Muerta to seven provinces in northern Argentina that are currently supplied with imports from Bolivia. Additionally, in a second
instance, these works would allow moving forward with exports to the north of Chile and Brazil.</P>


<!-- Field: Page; Sequence: 19 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 1</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Besides, on December 18, 2023, PEN Executive
Order No. 55/23 was issued declaring the emergency in the national energy sector comprising electricity generation, transmission and distribution
and natural gas transportation and distribution, effective until December 31, 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In general terms, the severe drought has
deteriorated economic conditions and deepened pre-existing macroeconomic imbalances. The Argentine economy recorded a 1.6% accumulated
decrease in the Gross Domestic Product as of the third quarter of 2023, a 211.4% cumulative inflation considering the CPI and a 356.3%
depreciation of the peso against the U.S.&nbsp;dollar, according to the BNA exchange rate, for fiscal year 2023. In turn, a 6.4% cumulative
growth of the Gross Domestic Product as of the third quarter of 2022, a 94.8% increase in the CPI and a 72.5% depreciation of the peso
against the U.S.&nbsp;dollar were recorded for fiscal year 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The context of volatility and uncertainty
continues as of the date of issuance of these Consolidated Financial Statements. The reforms proposed by the new government have begun
their legislative discussion process. It is not possible to currently foresee their evolution or any new measures that may be announced.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s Management permanently
monitors the evolution of the variables affecting its business to define its course of action and identify potential impacts on its assets
and financial position.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s financial statements
should be read in the light of these circumstances.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 2</U>: REGULATORY FRAMEWORK</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">2.1
Generation</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.1.1 <U>Generation units</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s revenues related to
this segment come from: i) sales contracts with large users within the MAT (SE Resolutions No. 1,281/06 and No. 281/17); ii) supply agreements
with CAMMESA (SE Resolutions No. 220/07, No. 21/16, No. 287/17 and Renovar Programs) and iii) sales to the Spot market pursuant to the
provisions applicable within the WEM administered by CAMMESA (SE Resolution No. 440/21 as from February 2021, SE Resolution No. 238/22
as from February 2022, SE Resolution No. 826/22 as from September 2022, SE Resolution No. 750/23 as from September 2023 and SE Resolution
No. 869/23 as from September 2023). The Company&#8217;s generating units, held directly and through its subsidiaries and joint ventures,
are detailed below:</P>


<!-- Field: Page; Sequence: 20 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; text-align: center; margin-top: 0; margin-bottom: 0"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD COLSPAN="5" STYLE="font-weight: bold; text-align: left">In operation as of 12.31.2023:</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-size: 11pt; font-weight: bold; width: 15%; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 22%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 10%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 23%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 30%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border: Black 0.5pt solid; text-align: center">Generator</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt">Generating unit</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt">Tecnology</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt">Power</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt">Applicable regime <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white">CTG</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">GUEMTG01</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TG</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">&nbsp;100 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Energy Plus Res. No. 1,281/06</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTG</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">GUEMTV11</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">TV</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">&le;100 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTG</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">GUEMTV12</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TV</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">&le;100 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTG</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">GUEMTV13</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TV</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">&gt;100 MW&nbsp;</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">Piquirenda</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">PIQIDI 01-10</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">MCI</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">30 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CPB</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">BBLATV29</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TV</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">&gt;100 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CPB</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">BBLATV30</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TV</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">&gt;100 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTIW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">BBLMD01-06</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">MCI</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">100 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No. 21/16&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTLL</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">LDLATG01/TG02/TG03/TV01</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">CC</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">&gt;150 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No. 59/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTLL</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">LDLATG04</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TG</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">&nbsp;105 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No 220/07 (75%)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTLL</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">LDLATG05</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TG</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">&nbsp;105 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No. 21/16</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTLL</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">LDLMDI01</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">MCI</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">15 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTGEBA</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">GEBATG01/TG02/TV01</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">CC</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">&gt;150 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No. 59/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTGEBA</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">GEBATG03</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TG</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">169 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Energy Plus Res. No. 1,281/06</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTGEBA</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">GEBATG03/TG04/TV02</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">CC</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">400 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No. 287/17</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">Ecoenerg&iacute;a</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">CERITV01</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TV</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">14 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Energy Plus Res. N&deg; 1,281/06</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTPP</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">PILBD01-06</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">MCI</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">100 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No. 21/16&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTEB</TD>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">EBARTG01 - TG02</TD>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TG</TD>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">&gt;50 MW</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution N&deg; 59/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTEB</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">EBARTV01</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TV</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">279 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No. 220/07</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">HIDISA</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">AGUA DEL TORO</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">HI</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">HI &ndash; Media&nbsp; 120&lt;P&le;300</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">HIDISA</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">EL TIGRE</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">HR</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Renewable&nbsp;&nbsp;&le; 50</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">HIDISA</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">LOS REYUNOS</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">HB</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">HB &ndash; Media &nbsp;120&lt;P&le;300</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">HINISA</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">NIHUIL I - II - III</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">HI</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">HI &ndash; Small &nbsp;50&lt;P&le;120</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">HPPL</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">PPLEHI</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">HI</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">HI &ndash; Media &nbsp;120&lt;P&le;300</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">PEPE II</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">PAMEEO</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Wind</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">53 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">MATER Res. No. 281/17</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">PEPE III</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">BAHIEO</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Wind</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">53 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">MATER Res. No. 281/17</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">PEPE IV</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Ampliaci&oacute;n BAHIEO</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Wind</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">81 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">MATER Res. No. 281/17</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">PE Arauco</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">AR21EO</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Wind</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">99,75 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Renovar</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD COLSPAN="5" STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP> Surplus power capacity and energy are remunerated in the spot market.&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="font-weight: bold; vertical-align: middle; text-align: left">In construction:</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border: Black 0.5pt solid; text-align: center">Generator</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt">Tecnology</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt">Capacity</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt">Applicable regime</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">PEPE VI</TD>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Wind</TD>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">140 MW</TD>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">MATER Res. No. 281/17</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>


<!-- Field: Page; Sequence: 21 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.1.2 <U>Sales contracts with large users
within the MAT</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.2.1 Energy Plus</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Aiming to encourage new generation works,
in 2006, the SE approved Resolution No. 1,281/06 in which established a specific regime which remunerates newly installed generation sold
to a certain category of GU at higher prices.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Energy Plus service consists of the
offer of additional generation availability by generators, co-generators and self-generators which, as of the date of publication of SE
Resolution No. 1,281/06, were not WEM agents or did not have facilities or an interconnection with the WEM. Considering that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">These plants should have fuel supply and transportation facilities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">The energy used by GU300 in excess of the base demand (energy consumption for 2005 year) qualifies for
Energy Plus agreements within the MAT at a price negotiated between the parties; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">For new GU300 entering the system, their base demand will equal zero.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If a generator cannot meet the power demand
by an Energy Plus customer, it should purchase that power in the market at the operated marginal cost, or, alternatively, support the
committed demand in case of unavailability through agreements with other Energ&iacute;a Plus generators.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Currently, the Company has Power Availability
agreements in force with other generators whereby, in case of unavailability, it may purchase or sell power to support the contracts mutually.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Furthermore, the SE, through Note No.
567/07, as amended, established that GU300 not purchasing their surplus demand in the MAT should pay the Average Incremental Charge of
Surplus Demand (&#8220;CMIDE&#8221;). As from the month of June 2018, pursuant to SE Note No.&nbsp;28663845/18, the CMIDE became the greater
of $1,200/MWh or the temporary dispatch surcharge.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under this regime, the Company &#8212;through
its power plants CTG, EcoEnerg&iacute;a and CTGEBA&#8212; sells its energy and power capacity for a maximum amount of 283 MW. The values
of Energy Plus contracts are mostly denominated in U.S. dollars, or are adjusted by CAMMESA&#8217;s price variation instead.</P>


<!-- Field: Page; Sequence: 22 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.2.2 Renewable Energy Term Market
(&#8220;MATER&#8221; Regime)</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Pursuant to Resolution No. 281/17, the
MEyM regulated the MATER Regime with the purpose of setting the conditions for large users within the WEM and WEM distributing agents&#8217;
large users covered by Section 9 of Law No. 27,191 to meet their demand supply obligation from renewable sources (or self-generation from
renewable sources) through the individual purchase within the MATER.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Projects destined to the supply of electric
power from renewable sources under the MATER Regime may not be covered by other remuneration mechanisms, such as the agreements under
the Renovar rounds. Surplus energy is sold in the spot market.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, contracts executed under the
MATER Regime are administered and managed in accordance with the WEM procedures. The contractual terms &#8212;life, allocation priorities,
prices and other conditions, notwithstanding the maximum price set forth in Section 9 of Law No. 27,191&#8212; are freely agreed between
the parties, although the committed electricity volumes are limited by the electric power from renewable sources produced by the generator
or supplied by other generators or suppliers with which it has purchase agreements in place.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Resolution No. 370/22 was passed on May
16, 2022, which expanded the MATER system allowing for the sale of renewable energy to meet the GU&#8217;s demand that purchase energy
to distribution utility companies.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under this resolution, the Company, through
its PEPE II, III and IV wind farms, sells energy for up to 187 MW. Additionally, the Company has started selling third-party generators&#8217;
renewable energy for a volume of 1.14 MW.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>2.1.2.3 MATER dispatch priority</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">SE Resolution No. 551/21 published on
June 16, 2021 modified the dispatch priority maintenance system established by Resolution No. 281/17. Overall, it replaces the granting
of a security for the maintenance of the dispatch priority by the payment of a quarterly installment of US$&nbsp;500/MW until commissioning
within the declared term or a maximum term of 24 months as from the priority assignment. It also established certain conditions for obtaining
an extension in the committed commissioning date, which, according to the project development level and the requested extension term,
requires a payment of monthly installments ranging between 500 and 1,500 US$/MW.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, it allows projects with
an assigned dispatch priority but not yet commissioned to continue their execution keeping the dispatch priority, or to waive such priority,
thus releasing the transmission capacity.</P>


<!-- Field: Page; Sequence: 23 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company, as owner of the Wind Farm
project, located in Las Armas, Province of Buenos Aires, notified its decision to waive the timely granted dispatch priority, and recovered
the security it had provided. As a result, CAMMESA notified that the already initiated execution of the security was determined to be
moot as it had no further claim against the Company; therefore, as of September 30, 2021, the amount of US$ 12.5 million recorded for
to such effect was recovered and disclosed under the item &#8220;Other operating income&#8221; of the Consolidated Statement of Comprehensive
Income.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">SE Resolution No. 360/23 introduced several
changes to the effective priority dispatch system. These modifications include the granting of a dispatch priority to renewable generation
projects to be sold in the MATER that finance the corresponding transmission expansions and/or renewable energy generation projects with
an associated demand larger than 10 MW.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Besides, it established a new referential
dispatch priority system in corridors without full availability at every hour of the year. In this way, the dispatch priority will have
an injection probability of 92% of the typical annual&nbsp;energy.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Moreover, it establishes that partially
commissioned projects regarding the committed capacity will pay the dispatch priority charge exclusively for the difference between the
assigned power capacity and that commissioned, provided the accumulated commissioned capacity is at least 50% of that assigned.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, projects with commissioned power
capacity lower than assigned power capacity will lose dispatch priority for uncommissioned power capacity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Within the framework of this resolution,
for the third quarter of 2023, the Company was awarded a 139,50 MW referential dispatch priority for the PEPE VI (Stages 1 and 2).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.1.3 <U>Supply Agreements with CAMMESA</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.3.1 SE Resolution No. 220/07 </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Aiming to encourage new investments to
increase the generation offer, the SE passed Resolution No. 220/07, which empowers CAMMESA to enter into agreements with WEM generating
agents for the energy produced with new equipment. These will be long-term agreements and the price payable by CAMMESA should compensate
for the investments made by the agent at a rate of return to be accepted by the SE.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Within the framework of this resolution,
the Company has units remunerated under agreements for 79 MW and 280 MW, through CTLL thermal power plant and CTEB&acute;s closed cycle,
owned by CTB, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.3.2 SE Resolution No. 21/16</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As a result of the state of emergency
in the national electricity sector, on March 22, 2016, the SE issued Resolution No. 21/16 calling for parties interested in offering new
thermal power generation capacity with the commitment to making it available through the WEM for the 2016/2017 summer, 2017 winter, and
2017/2018 summer periods.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For the awarded projects, wholesale power
purchase agreements were entered into with CAMMESA for a term of 10 years, with a remuneration made up of the available power capacity
price plus the variable non-fuel cost for the delivered energy and the fuel cost (if appropriate), less penalties and fuel surpluses.
Surplus power capacity is sold in the spot market.</P>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 24 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Pursuant to this resolution, the Company,
through its CTLL, CTIW and CTPP power plants, has effective agreements with CAMMESA for the sale of energy and power capacity for a total
305&nbsp;MW.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.3.3 SE Resolution No. 287/17 </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 10, 2017 the SE issued Resolution
No. 287/17 launching a call for tenders for co-generation projects and the closing to CC over existing equipment. The projects should
have low specific consumption (lower than 1,680 kcal/kWh with natural gas and 1,820 kcal/kWh with alternative liquid fuels), and the new
capacity should not exceed the existing electric power transmission capacity; otherwise, the cost of the necessary extensions will be
borne by the bidder.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Pursuant to this regulation, the Company,
through its CTGEBA thermal power plant, has entered into a wholesale power purchase agreement with CAMMESA for the sale of energy and
power capacity for a total 400 MW, for a term of 15 years.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.3.4 Renovar Programs</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In order to meet the objectives, set by
Law No. 26,190 and Law No. 27,191 promoting the use of renewable sources of energy, the MEyM called for open rounds for the hiring of
electric power from renewable sources (Renovar Programs, Rounds 1, 1.5 and 2) within the WEM. These calls aimed to assign power capacity
contracts from different technologies (wind energy, solar energy, biomass, biogas and small hydraulic developments with a power capacity
of up to 50 MW).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For the awarded projects, renewable electric
power supply agreements were executed for the sale of an annual committed electric power block for a term of 20 years.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, several measures were established
to promote the construction of projects for the generation of energy from renewable sources, including tax benefits (advance VAT reimbursement,
equipment&#8217;s accelerated depreciation in the income tax, import duty exemptions, etc.) and the creation of a Fund for the Development
of Renewable Energies (&#8220;FODER&#8221;) destined, among other objectives, to the granting of loans and capital contributions for the
financing of such projects.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under the Renovar programs, the Company,
has a supply contract in place with CAMMESA for a total of 99.75 MW for the PE Arauco.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.3.5 Penalty system under MATER
and Renovar contracts</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On March 20, 2023, SE Resolution No.
165/23 was passed, which modified the penalty system applicable to MATER and Renovar projects, including projects awarded under the Renovar
MiniRen Program, Round 3. Penalties for breaches in the committed supply of energy were incorporated into the system, to be discounted
in 12 monthly and consecutive installments as from commercial commissioning, keeping the generator&#8217;s option to cancel the penalties
in 48 monthly and consecutive installments with the application of a 1.7% EAR in U.S. dollars. To avoid affecting the projects&#8217;
minimum maintenance, a 20% discount cap for the monthly transaction was established for those generators opting into the 48-installment
scheme. The balance following the application of this cap will be discounted in the first transaction in which the penalty is below the
stated cap; if the number of installments is exceeded, the scheme will be maintained until the penalties&#8217; full cancellation and,
in case the contract term is exceeded, the payment scheme may be restructured, or the discount cap may be increased to 40% of the transaction.</P>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>


<!-- Field: Page; Sequence: 25 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Besides, SE Resolution No. 883/23 approved
a penalty offsetting mechanism for supply agreements under the Renovar programs allowing to offset penalties with investments in new renewable
power generation capacity. This possibility is contemplated for delay, deficiency and national component penalties.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.3.6 TerCONF Call </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On July 27, 2023, SE Resolution No. 621/23
launched the &quot;TerCONF&quot; call for the execution of reliable thermal generation supply agreements with CAMMESA allowing to incorporate
new thermal supply and ensure the WEM's reliability and sustainability through: (i) supply to the SADI, and (ii) the substitution and
modernization of Tierra del Fuego's power generation grid.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Regarding thermal generation for SADI's
reliability and supply:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(i)</TD><TD STYLE="text-align: justify">The call will consider any generation or co-generation technology, including associated transmission and/or
fuels infrastructure works, to add reliable power capacity by installing new equipment or equipment with less than 15,000 hours of verified
use;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(ii)</TD><TD STYLE="text-align: justify">Agreements will not provide for fuel management responsibility, and a variable operation and maintenance
remuneration is established based on the energy per fuel type;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(iii)</TD><TD STYLE="text-align: justify">The agreement's price will contemplate the payment of the hired power capacity in US$/MW-month and the
payment of the supplied energy;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(iv)</TD><TD STYLE="text-align: justify">Projects should identify the point of delivery and the technical connection agreement with the transmission&nbsp;company;
and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(v)</TD><TD STYLE="text-align: justify">A supply maintenance guarantee and a payment scheme from the project's award to the contract execution
date are established as a type of performance bond.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On September 26, 2023, 66 projects were
submitted for a total of 7,112 MW power capacity. Pampa submitted a tender for the execution of CTGEBA II, with a 300 MW power capacity.
It also tendered, through CTB, an 11 MW CC expansion. On November 24, 2023, pursuant to SE Resolution No. 961/23, both tenders were awarded,
and the initial payments were executed according to the provisions of the call for tenders&#8217; payment scheme. However, on December
28, 2023, the SE, through Note NO-2023-153876959-APN-SE#MEC, instructed CAMMESA to provisionally suspend the issuance of the commercial
documentation corresponding to the payment of the tender guarantee and the monthly payment scheme. According to such note, SE is evaluating
the exercise of the extension powers set forth in the bidding documents.</P>


<!-- Field: Page; Sequence: 26 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.1.4 <U>Remuneration at the Spot market</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 19, 2021, SE Resolution No. 440/21
provided for a 29% increase in the values in pesos of the remuneration items based on technology and scale and the additional remuneration
for the power capacity generated in the hours of maximum thermal demand of the month established in SE Resolution No. 31/20.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In November 2021, SE Resolution No. 1,037/21,
instrumented through Note NO-2021-108163338-APN-SE#ME, provided for an additional transitional remuneration for generated energy and suspended
the application of the utilization factor for economic transactions comprised between September 1, 2021 and February 28, 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On April 21, 2022, SE Resolution No. 238/22
was published in the BO. This resolution provided a 30% increase in spot generation remuneration values from the February 2022 economic
transaction, and an additional 10% increase from the June 2022 economic transaction. It also abrogated the application of the utilization
factor and the additional transitional remuneration set by SE Resolution No. 1,037/21.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 14, 2022, through SE Resolution
No. 826/22, the spot remuneration values were modified considering the following increases: i) 20% from the September 2022 economic transaction;
ii) 10% from the December 2022 economic transaction; iii) 25% from the February 2023 economic transaction; and iv) 28% from the August
2023 economic transaction.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, SE Resolution No. 826/22
replaced the remuneration scheme at hours of maximum thermal demand with a differentiated remuneration scheme at peak hours from the November
2022 economic transaction.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Subsequently, through SE Resolution No.
750/23 and SE Resolution No. 869/23, the remuneration values for spot generation were updated, providing for a 23% and 28% increase as
from the September 2023 and November 2023 economic transactions, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The applicable remunerations based on
technology and resolution are detailed below. The amounts reported correspond to the resolutions applicable as of December 31, 2021, 2022
and 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>2.1.4.1 Remuneration for Available Power Capacity </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.1.4.1.1 Thermal Power Generators</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">A minimum remuneration for power capacity
based on technology and scale was established, and generating, co-generating and self-generating agents owning conventional thermal power
plants were allowed to offer guaranteed availability commitments for the energy and power capacity generated by their units and not committed
under sales contracts with large users within the MAT and supply agreements with CAMMESA.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Availability commitments are tendered
for quarterly periods: a) summer (December through February); b) winter (June through August) and c) &#8216;other,&#8217; which comprises
two quarters (March through May, and September through November), the thermal generators&#8217; remuneration for committed power capacity
being proportional to their compliance.</P>


<!-- Field: Page; Sequence: 27 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The minimum remuneration for generators
with no availability commitments includes the following scales and prices:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 34%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Technology / Scale</TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 440/21</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-month)</P></TD>
    <TD STYLE="vertical-align: top; width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 826/22</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-month)</P></TD>
    <TD STYLE="vertical-align: top; width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 869/23</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-month)</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Large CC Capacity &gt; 150 MW</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">129,839</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">245,084</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">617,377</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Large TV Capacity &gt; 100 MW</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">185,180</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">349,546</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">880,520</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Small TV Capacity <FONT STYLE="font-family: SimSun">&#8804;</FONT> 100 MW</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">221,364</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">417,847</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">1,052,573</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Large GT Capacity &gt; 50 MW</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">151,124</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">285,262</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">718,586</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The remuneration for guaranteed power
capacity to generators with availability commitments is:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 34%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Period</TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 440/21</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-month)</P></TD>
    <TD STYLE="vertical-align: top; width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 826/22</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-month)</P></TD>
    <TD STYLE="vertical-align: top; width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 869/23</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-month)</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Summer &#8211; Winter</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">464,400</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">876,601</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">2,208,195</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Fall - Spring</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">348,300</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">657,451</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">1,656,146</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the case of thermal power plants with
a power capacity equal to or lower than 42 MW in total, a differential remuneration was applied until its elimination on August 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the same way, a coefficient derived
from the average utilization factor over the unit&#8217;s last twelve months was applied to the power capacity remuneration: with a minimum
70% of the utilization factor, 100% of the power capacity payment was collected; if the utilization is between 30% and 70%, the power
capacity payment ranged from 70% to 100%; and if the utilization factor was lower than 30%, 70% and 60% of the power capacity payment
was collected until January 2020 and August 2021. Subsequently, the application of this factor was suspended in 2021 and finally abrogated
from February 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.1.4.1.2 Hydroelectric Generators</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Power capacity availability is determined
independently of the reservoir level, the contributions made, or the expenses incurred. Furthermore, in the case of pumping hydroelectric
power plants, the operation as turbine and pump is considered to calculate availability.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The base remuneration includes the following
scales and prices:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 43%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Technology / Scale</TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 440/21</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-month)</P></TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 826/22</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-month)</P></TD>
    <TD STYLE="vertical-align: top; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 869/23</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-mes)</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Medium HI Capacity &gt; 120 &#8804; 300 MW</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">170,280</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">321,421</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">809,672</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Small HI Capacity &gt; 50 &#8804; 120 MW</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">234,135</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">441,953</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">1,113,298</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Medium Pumped HI Capacity &gt; 120 &#8804; 300 MW</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">170,280</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">321,421</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">809,672</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Renewable HI Capacity &#8804; 50 MW</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">383,130</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">723,196</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">1,821,760</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The payment for power capacity is determined
by the actual capacity, hours of unavailability due to programmed and/or agreed maintenance are not computed for the calculation of the
remuneration. However, to consider the incidence of programmed maintenance works in power plants, SME Note No. 46631495/19 provided for
the application of a 1.05 factor over the power capacity payment.</P>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 28 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the case of hydroelectric power plants
maintaining control structures on river courses and not having an associated power plant, a 1.20 factor is applied to the plant at the
headwaters.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.4.2 Remuneration for generated
and operated energy </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the case of thermal power generators,
a remuneration was set for generated energy, depending on the type of fuel used, and for operated energy, as shown below:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 31%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Remuneration</TD>
    <TD STYLE="width: 23%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 440/21</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD>
    <TD STYLE="width: 23%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 826/22</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD>
    <TD STYLE="vertical-align: top; width: 23%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 869/23</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Generated energy</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Between 310 and 542 </TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Between 585 and 1,023</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Between 1,473 and 2,578</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Operated energy</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">108</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">204</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">513</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It is worth highlighting that if the thermal
generation unit operates outside its optimal dispatch, the remuneration for generated energy will be recognised at 60% of the installed
net capacity, irrespective of the energy delivered by the unit.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the case of hydroelectric plants, the
following prices were established for generated and operated energy, irrespective of scale:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 34%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Remuneration</TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 440/21</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 826/22</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD>
    <TD STYLE="vertical-align: top; width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 869/23</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Generated energy </TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">271</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">512</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">1.288</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Operated energy</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">108</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">204</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">513</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The remuneration for operated energy should
correspond with the grid&#8217;s optimal dispatch; however, the current resolution does not indicate which would be the consequence otherwise.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the case of pumping hydroelectric power
plants, both the generated energy and that used for pumping are considered. Besides, if it works as a synchronous condenser, 77 $/MVAr,
145 $/MVAr and 367 $/MVAr are recognised under SE Resolution No. 440/21, No. 238/22, No. 826/22 and 869/23, respectively, for the megavolt-amperes
exchanged with the grid when required, in addition to the prices for operated energy.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As regards energy generated from
unconventional sources, a single remuneration value was set irrespective of the source used:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 34%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Remuneration</TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 440/21</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 826/22</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD>
    <TD STYLE="vertical-align: top; width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 869/23</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Generated energy</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">2,167</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">3,719</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">10,304</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Energy generated before commissioning
will be remunerated by the Agency in Charge of Dispatch at 50% of the above-mentioned remuneration.</P>


<!-- Field: Page; Sequence: 29 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.4.3 Additional remuneration</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For the February 2020-October 2022 period,
an additional remuneration was set for the hours of maximum thermal demand (hmrt), corresponding to the 50 hours with the largest thermal
generation dispatch in each month, divided into two blocks of 25 hours each, the following prices being applicable to the average capacity:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Thermal units:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Period</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">SE No. 440/21</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">SE No. 238/22</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">First 25 hours</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Second 25 hours</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">First 25 hours</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Second 25 hours</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD></TR>
  <TR>
    <TD STYLE="width: 24%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Summer &#8211; Winter</TD>
    <TD STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">58,050</TD>
    <TD STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">29,025</TD>
    <TD STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">83,012</TD>
    <TD STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">41,506</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Fall - Spring</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">9,675</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">-</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">13,835</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">-</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Hidroelectric units &gt; 50 MW and &#8804;
300 MW:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Period</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">SE No. 440/21</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">SE No. 238/22</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">First 25 hours</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Second 25 hours</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">First 25 hours</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Second 25 hours</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD></TR>
  <TR>
    <TD STYLE="width: 24%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Summer &#8211; Winter</TD>
    <TD STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">50,310</TD>
    <TD STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">25,155</TD>
    <TD STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">71,943</TD>
    <TD STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">35,972</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Fall - Spring</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">8,385</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">-</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">11,991</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">-</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Hidroelectric units &#8804; 50 MW:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">Period</FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">SE No. 440/21 </FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">SE No. 238/22 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">First 25 hours</P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">Second 25 hours</P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">First 25 hours</P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">Second 25 hours</P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD></TR>
  <TR>
    <TD STYLE="width: 30%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">Summe &#8211; Winter</FONT></TD>
    <TD STYLE="width: 17%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">54,180</FONT></TD>
    <TD STYLE="width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">27,090</FONT></TD>
    <TD STYLE="width: 17%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">77,478</FONT></TD>
    <TD STYLE="width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">38,739</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">Fall &#8211; Spring</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">9,030</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">12,913</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As from November 2022, a differentiated
remuneration scheme was established for energy generated during peak hours, applicable to thermal and hydroelectric generators, with a
value equivalent to twice the value of the current price of energy generated during peak hours (6:00 p.m. to 11:00 p.m.) every day of
the months of December, January, February, June, July and August, and one time such value for the same hours of the months of March, April,
May, September, October and November.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.4.4 Remuneration for combined cycles</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">SE Resolution No. 59/23 dated February
7, 2023 established a system combined cycles&#8217; owners could opt-in by executing an availability and efficiency optimization agreement
with CAMMESA. The agreement contemplates an availability commitment of 85% of the net power capacity for a maximum term of 5 years, and
sets a US$&nbsp;2,000/MW-month remuneration for the power capacity made available and the dollarization of the energy price based on
the fuel used (US$&nbsp;3.5/MWh for natural gas and US$&nbsp;6.1/MWh for fuel oil and gas oil). Besides, it provides for a 35% and 15%
reduction in the remuneration collectible for guaranteed power capacity for generators with availability commitments in the spot market
for the summer-winter and autumn-spring periods, respectively.</P>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>


<!-- Field: Page; Sequence: 30 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company executed agreements with CAMMESA
for its CTLL and GTGEBA power plants&#8217; combined cycles. Additionally, CTB executed an agreement with CAMMESA for its open cycle&#8217;s
GT units. In all cases, agreements are effective from March 1, 2023 to February 29, 2028.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.4.5 Suspension of contracts within
the MAT</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The suspension of contracts within the
MAT (excluding those derived from a differential remuneration scheme) provided for by SE Resolution No. 95/13 remains in effect.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.1.5 <U>Fuel supply for thermal power
plants </U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 27, 2019, the Ministry of
Productive Development Resolution No. 12/19, restored the centralized scheme in CAMMESA for the supply of fuels for generation purposes
(except for generators under the Energy Plus regime and with Wholesale Power Purchase Agreements under Resolution SE No. 287/17).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In December 2020, on account of the implementation
of the GasAr Plan (see Note 2.2.4.1), SE Resolution No.&nbsp;354/20 was passed, which established a new dispatch order for generation
units based on the fuel supplied for their operation under a centralized dispatch scheme.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">SE Resolution No. 354/20 established the
gas volumes CAMMESA should prioritize in the electricity dispatch. In this sense, firm volumes to be used by CAMMESA were defined, including:
i) volumes corresponding to contracts entered into by CAMMESA with producers acceding to the GasAr Plan; ii) volumes corresponding to
contracts executed by adherent producers with generators acceding to the centralized dispatch (these volumes will be discounted by the
adherent producers from the applicable quota for which they should enter into contracts with CAMMESA under the GasAr Plan) and; iii) volumes
to meet the Take or Pay (&#8220;TOP&#8221;) obligations under the supply agreement entered into between ENARSA and Yacimientos Petrol&iacute;feros
Fiscales Bolivianos (&#8220;YPFB&#8221;).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Besides, an electricity dispatch priority
scheme was set based on the allocation of the natural gas quota taking into consideration the TOP obligations. To this effect, the following
priorities were set (within each priority level, the order of agents is set based on the generator&#8217;s production cost):</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(i)</TD><TD STYLE="text-align: justify">Dispatch Priority 1: generators, self-generators and/or co-generators supplied with a natural gas quota
under a TOP Bolivia condition assigned by ENARSA. If a generator with a fuel stocking obligation optionally acquires from ENARSA natural
gas from Bolivia, this volume will be included in this quota.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(ii)</TD><TD STYLE="text-align: justify">Dispatch Priority 2: generators, self-generators and/or co-generators supplied by CAMMESA with a natural
gas quota from the centralized list of volumes up to the TOP of each contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(iii)</TD><TD STYLE="text-align: justify">Dispatch Priority 3: generators, self-generators and/or co-generators supplied by CAMMESA with a natural
gas quota from the centralized list of volumes for the daily maximum amount less those corresponding to the TOP of each contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(iv)</TD><TD STYLE="text-align: justify">Dispatch Priority 4: generators, self-generators and/or co-generators supplied by CAMMESA with natural
gas or LNG coming from other firm commitments undertaken by CAMMESA.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 6pt 0 0 0.5in; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 31 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(v)</TD><TD STYLE="text-align: justify">Dispatch Priority 5: generators, self-generators and/or co-generators supplied with a gas quota from the
unassigned, spot natural gas contracts from any source, acquired by CAMMESA and/or the generator, according to the supply source. In the
case of a generator with its own fuel, the maximum amount to be acknowledged will be the corresponding reference prices.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As regards the costs associated with the
supply of these fuels, it was established that the electricity demand will bear, among others, the regulated transportation costs, the
cost of natural gas and the applicable TOP obligations.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Generating agents that kept the possibility
to purchase their fuel supply (agents under the Energy Plus regime or with Wholesale Purchase Agreements under Resolution SE No. 287/17)
could opt in or out of CAMMESA&#8217;s unified dispatch, through the operating assignment of the contracted firm transportation and gas
volumes, which impact the assigned priority order. Under such assignment, agents should waive all claims regarding the application of
SE Resolution No.&nbsp;354/20.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the specific case of generators with
wholesale power purchase agreements under SE Resolution No. 287/17, it was provided that they would have the option of canceling the self-supply
obligation and the resulting recognition of its associated costs, having to maintain the respective transportation capacity for its management
in the centralized dispatch.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company assigned the firm transportation
and gas volumes committed to supplying Genelba Plus&#8217; CC and Energy Plus contracts, setting certain guidelines for calculating fuel
costs to support its Energy Plus contracts. In the case of the supply to Genelba Plus&#8217; CC, the assignment will remain effective
during the life of the GasAr Plan, and it may be revoked by the generator with a minimum advance notice of 30 business days. Within this
framework, the parties agreed to enter into an addendum to the Wholesale Power Purchase Agreement to establish the modifications regarding
this new supply scheme, which execution is pending as of the issuance of these Consolidated Financial Statements.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.1.6 <U>New demand charges</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under Resolution No. 976/23, the SE established
that, as from February 2024, CAMMESA should bill distribution agents and/or service providers of the WEM and Tierra del Fuego&#8217;s
WEM system new charges that are directly transferred to GUDI customers&#8217; bills.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The additional charges comprise: (i)
a stabilized charge for the price of energy and (ii) a complementary power adjustment, seeking to bring GUDI costs in line with GUME
and GUMA costs.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">2.2
Oil and gas</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.1 <U>Argentine Hydrocarbons Law</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On October 29, 2014, the National Congress
enacted Law No. 27,007 amending Hydrocarbons Law No. 17,319 (enacted in 1967), which empowers the Government to grant exploration permits
and concessions to the private sector. Additionally:</P>


<!-- Field: Page; Sequence: 32 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(i)</TD><TD STYLE="text-align: justify">Sets the terms for exploration permits:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify"><I>Conventional exploration</I>: the basic term is divided into two periods of up to three years each,
plus an optional extension of up to five years;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify"><I>Unconventional exploration</I>: the basic term is divided into two periods of four years each, plus
an optional extension of up to five years; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify"><I>Continental shelf and off-shore exploitation</I>: the basic term is divided into two periods of three
years each, plus an optional extension of one year each.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(ii)</TD><TD STYLE="text-align: justify">Sets the terms for exploitation concessions, extensible for 10-year terms:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify"><I>Conventional exploitation concession</I>: 25 years;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify"><I>Unconventional exploitation concession</I>: 35 years; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify"><I>Continental shelf and off-shore exploitation concession</I>: 30 years.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(iii)</TD><TD STYLE="text-align: justify">Sets transportation concessions will be granted for the same term than that granted for the originating
exploitation concession.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(iv)</TD><TD STYLE="text-align: justify">Sets prices for payments of exploration and exploitation levy and empowers the enforcement authority to
establish the payment of extension and exploitation bonds.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(v)</TD><TD STYLE="text-align: justify">Establishes a 12% royalty payable by the exploitation concessionaire to the grantor on the proceeds derived
from liquid hydrocarbons extracted at wellhead and the production of natural gas. In the case of extension, additional royalties for up
to 3% over the applicable royalties at the time of the first extension, up to a total of 18%, will be paid for the following extensions.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(vi)</TD><TD STYLE="text-align: justify">Provides for two types of non-binding commitments between the National Government and the Provinces aiming
to establish a uniform environmental legislation and to adopt a uniform tax treatment to encourage hydrocarbon activities.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(vii)</TD><TD STYLE="text-align: justify">Restricts the National Government and the Provinces from reserving new areas in the future in favor of
public or mixed companies or entities, irrespective of their legal form.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On its part, the Ministry of Energy and
Natural Resources of the Province of Neuqu&eacute;n established certain parameters for the granting of CENCH in this province, instrumented
through Resolution No. 53/20 dated July 1, 2020 and Resolution No. 142/21 dated November 24, 2021, and later ratified by Provincial Executive
Order No. 2,183/21 in December 2021. Companies may request a CENCH based on a development project that will include a pilot plan for
a term of up to five years to demonstrate its technical and economic feasibility. Furthermore, if companies request the inclusion in
the CENCH of a surface larger than that assigned to the approved pilot plan, the payment of a block extension bond should be included,
which value will be associated with the resources expected to be recovered in the extended block, considering the basin&#8217;s average
price over the last two&nbsp;years. Besides, while the CENCH is in effect, companies should submit continuous development plans and investment
commitments, updated annually.</P>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>


<!-- Field: Page; Sequence: 33 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.2 <U>Hydrocarbon exploration and exploitation
levy</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Law No. 27,007 set the levy values per
km2 or fraction for exploitation and exploration permits, payable annually and in advance by the permit holder. On September 26, 2019,
the Province of Neuqu&eacute;n, pursuant to Provincial Executive Order No. 2,032/19, published new levy values per km2 or fraction effective
for this province as from 2020.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">From 2021, PEN Executive Order No. 771/20
set a maximum levy in pesos equivalent to a certain volume of oil at the average price for the semester before settlement, at BNA&#8217;s
exchange rate effective on the last business day before payment. This scheme is applicable nationwide (including the Province of Neuqu&eacute;n,
which acceded to it under Provincial Executive Order No. 1,656/20). Exploitation permits amount to 8.28 barrels and exploration permits
to 0.46 barrels in the first period, 1.84 barrels in the second period of the basic term, and 32.22 barrels in the extension period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.3 <U>Currency access for incremental
oil and natural gas production systems and regional and national supplier&#8217;s employment, labor and development promotion system</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 28, 2022, PEN Executive Order No.
277/22 was published, which established currency access systems for the incremental production of oil (&#8220;RADPIP&#8221;) and natural
gas (&#8220;RADPIGN&#8221;), as well as the regional and national supplier&#8217;s employment, labor and development promotion system
(&#8220;RPEPNIH&#8221;). This executive order, later regulated by PEN Executive Order No. 484/22 dated August 12, 2022, mainly provided
for eased access to the MLC for beneficiaries increasing their gas injection levels and/or oil production.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Beneficiaries must meet the following
requirements to access the RADPIP and the RADPIGN: (i) be registered with the SE&#8217;s oil companies registry; (ii) accede to the system;
(iii) attain an incremental oil production or natural gas incremental injection levels; (iv) comply with the RPEPNIH; and (v) be an awardee
and fulfill the obligations provided under natural gas production promotion or stimulus programs (exclusively for the RADPIGN).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Beneficiaries under these systems may
access the MLC to make principal and interest payments of commercial or financial liabilities abroad, including liabilities with non-resident
affiliates, and to pay earnings and dividends for closed and audited balance sheets and/or the repatriation of direct investments by non-residents.
This benefit may be transmitted to direct suppliers. Moreover, access to the MLC under this system will not be subject to BCRA&#8217;s
prior authorization requirement in case exchange regulations so require.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Currency access benefits for acceding
the RADPIP and/or RADPIGN will be taken into consideration and timely discounted.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Regarding the RPEPNIH, supplier development
plans guaranteeing regional and national integration will be controlled. Moreover, a hiring scheme is contemplated granting preferences
to regional and national goods and/or services suppliers.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On January 16, 2023, SE Resolution No.
13/23 was published in the BO, which regulated the opt-in system and the procedure to obtain the currency access benefit created by PEN
Executive Order No. 277/22.</P>


<!-- Field: Page; Sequence: 34 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Through notes issued in August and September
2023, the Undersecretariat of Hydrocarbons granted the Company the certificates of access to the RAPIDGN and RADPIP benefit for the third
and fourth quarters of 2022 and the first quarter of&nbsp;2023.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, the certificates for the
second, third and fourth quarters of 2023 were requested in a timely manner, and have not been granted as of the date of issuance of these
Consolidated Financial Statements.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.4 <U>Gas Market</U></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.2.4.1 Natural Gas Production Promotion
or Stimulus Programs</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.4.1.1 Argentine Natural Gas Production
Promotion Plan (&#8220;GasAr Plan&#8221;)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 16, 2020, Executive Order
No. 892/20 was published in the BO, which approved the GasAr Plan to foster the development of the Argentine gas industry based on a bidding
mechanism, and instructed the SE to instrument such plan and to set the applicable complementary and clarifying rules.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 23, 2020, the SE, through
Resolution No. 317/20, launched the &#8220;National Public Call for Tenders for the Argentine Natural Gas Production Promotion Plan &#8211;
2020-2024 supply and demand scheme&#8221; for the award of a volume of 70 million m3 of natural gas per calendar year (CAMMESA plus distributors),
which may be modified by the SE to guarantee an optimal domestic supply.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The contract samples stipulated a Deliver or
Pay (&#8220;DOP&#8221;) obligation of 100% per day for producers and a Take or Pay (&#8220;TOP&#8221;) obligation of 75% per month for
CAMMESA and per quarter for distributors. Regarding the payment of contracts with distributors, the Federal Government will bear the monthly
difference between the price tendered and that resulting from the tariff schemes through a subsidy payable directly to producers. Under
Law No. 27,591, payment of this subsidy is secured by Tax Credit Certificates, which were regulated by SE Resolution No. 125/21 and AFIP
General Resolution No. 4,939/21.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, to access the GasAr Plan
producers submitted a plan of investments necessary to maintain the committed production and a national added-value commitment providing
for the development of direct local, regional and national suppliers.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 15, 2020, Resolution No. 391/20
was published in the BO, awarding the natural gas volumes tendered under GasAr Plan, Round 1. In this sense, out of a total natural gas
base volume of 67.42 million m3/day to be purchased, in terms of tendered volume, the Company ranked third in the Neuquina Basin, with
an awarded base volume of 4.9 million m3/day at an annual average price of US$ 3.60/MBTU for a term of four years effective as from January
1, 2021.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, the Company has been one
of the three producers tendering an additional volume for the winter period, with the award of 1 million m3/day at US$ 4.68/MBTU, a volume
deemed indispensable to accompany the high seasonality of the Argentine demand, reducing gas imports, the consumption of alternative fuels,
and the use of foreign-currency reserves.</P>


<!-- Field: Page; Sequence: 35 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On March 9, 2021 Resolution No. 169/21
was published in the BO, which awarded natural gas volumes offered under the GasAr Plan, Round 2 Tender. In this sense, the Company was
awarded a volume of 0.70 million m3/day, 0.90 million m3/day and 1 million m3/day for the months of June, July and August-September 2021,
respectively, and 0.86 million m3/day to meet the winter peak demand for the years 2022 through 2024, at a price of US$ 4.68/MBTU.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under Resolution No. 984/21 dated October
19, 2021, the SE called for Round 3 under GasAr Plan for 2022 through 2024 inclusive, with injection starting in May 2022. The resolution
determined that the cap price for tenders is the maximum price tendered under Round 1. The Company took part in this call, tendering 2
million m3/day for the Neuquina basin at a price of US$ 3.347/MBTU; on November 11, 2021, the SE issued Resolution No. 1,091/21, awarding
the tendered volumes and prices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.4.1.2 2023-2028 Plan to Reinsure and
Encourage Federal Hydrocarbon Production, Domestic Self-Supply, Exports, Imports Substitution, and the Expansion of the Transportation
System for all the Country&#8217;s Hydrocarbon Basins (&#8220;Reinsurance Plan&#8221;)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 3, 2022, Executive Order No.
730/22 was published in the BO, which amended the GasAr Plan&#8217;s scheme approved by Executive Order No. 892/20.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Reinsurance Plan establishes a new
term for the system until December 31, 2028, with the following main objectives: (i) consolidating a new 70 MMm3/d flat block (volumes
awarded under GasAr Plan&#8217;s Round 1 and 3), excluding winter peaks; and (ii) developing the demand for the incremental volumes to
be evacuated using the new transportation capacity following the construction of the N&eacute;stor Kirchner Gas Pipeline (TransportAr
Program, SE Resolution No. 67/22).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Consequently, on November 14, 2022, SE
Resolution No. 770/22 was published in the BO, calling for Tender Rounds 4 for the Neuquina Basin, and 5, for the Del Golfo and Austral
Basins.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For the Neuquina Basin, the following
calls were made:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">(i) Round 4.1: for the extension of the
commitments undertaken under Rounds 1 and 3 of the GasAr Plan for 4 additional years, from January 1, 2025 to December 31, 2028, for the
same volumes, and with prices equal to or lower than the timely awarded price; and</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">(ii) Round 4.2: for the award of the following
incremental volumes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">(a)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Flat Gas: 11 MMm3/day from July 1, 2023 to December 31, 2028, and 3 MMm3/day from January
1, 2024 to December 31, 2028, with prices not exceeding US$ 4 MBTU; and</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">(b)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Peak Gas: 7 MMm3/day from May 1 to September 30, for each of the 2024-2028 and 2025-2028
periods, with prices equal to or lower than US$ 6.9 MBTU and an applicable 1.3 adjustment factor.</TD>
</TR></TABLE>


<!-- Field: Page; Sequence: 36 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company participated in Round 4.1,
seeking to extend commitments under GasAr Plan&#8217;s Rounds 1 and 3 until December 2028 and keeping the originally tendered prices of
US$ 3.6 MBTU and US$ 3.347 MBTU, respectively. Moreover, it submitted the following tenders under Round 4.2: (i) Flat Gas: 4.8 million
m3/day at a price of US$ 3.485 MBTU from July 1, 2023 to December 31, 2028; (ii) Peak Gas: 3 million m3/day at a price of US$ 5.190 MBTU
for the 2024-2028 period and 1.9 million m3/day at US$ 4.770 MBTU for the 2025-2028 period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 22, 2022, through SE Resolution
No. 860/22, the Company was awarded the extension of the commitments for Round 4.1 and a 4.8 million m3/day demand associated with flat
gas under Round 4.2.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The awards granted to the Company and
the contracts executed represent a production commitment of 15.7 million m3/day for winter periods and 13.8 million m3/day for summer
periods in 2023-2024. Compared to 2022, this commitment represents a 44% increase in winter production, the period with the largest gas
supply needs in the country. As from 2025, the commitment under the Reinsurance Plan will amount to 13.8 million m3/day.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Based on the gas demand curve projected
by the SE, the Company will enter into new contracts with CAMMESA, ENARSA and distributors.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.4.1.3 Plan GasAr&#8217;s Round 5.2
&#8211; Aguarag&uuml;e Joint Operation</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Pampa, jointly with all partners of the
Aguarag&uuml;e Joint Operation, participated in Round&nbsp;5.2 of Plan GasAr, called under SE Resolution No. 770/22, and was awarded this
project. The companies making up the Joint Operation appended a single incremental activity plan with an expected natural gas production
incremental volume for the Joint Operation exceeding 400,000 m3/d as from the last quarter of 2023. The Company holds a 15% stake in this
Joint Operation.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On September 27, 2023, gas volumes under
Plan GasAr - Round 5.2 were awarded pursuant to SE Resolution No. 799/23. The scheme provides for the sale of incremental volumes to ENARSA
for the October 1, 2023-December 31, 2028 period. The agreed sales price amounts to US$&nbsp;9.8 /MMBTU between October 2023 and December
2026, and US$ 6 /MMBTU between January 2027 and December 2028.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.2.4.2 Natural gas for the residential
segment and CNG</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 27, 2022, SE Resolution No. 403/22
provided for an update of new natural gas PIST prices under existing contracts executed within the framework of GasAr Plan&#8217;s promotion
scheme, reducing the subsidy payable by the Federal Government from June 1, 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, in the months of February,
June and August 2022, public hearings were held to analyze the Plan Gas.Ar portion of the natural gas PIST price to be borne by the Federal
Government. It is worth highlighting that SE Resolution No. 610/22 determined a gradual increase in the PIST price distributors will pay
for unsubsidized residential consumptions, keeping the subsidized price for the remaining users.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On January 10, 2023, SE Resolution No.
6/23 was published, establishing updates of natural gas PIST prices for contracts executed under the GasAr Plan and the Reinsurance Plan
based on the different types of users.</P>


<!-- Field: Page; Sequence: 37 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.2.4.3 Acquisition of Natural Gas
for Generation</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">From December 30, 2019, CAMMESA&#8217;s
centralization scheme for the supply of fuels for generation was restored (except for generators with Energy Plus and SE Res. No. 287/17
contracts). Since then, CAMMESA has launched successive calls for tenders to cover its monthly consumption. Moreover, from 2021, most
gas supplies to CAMMESA are channeled through GasAr Plan, for the volumes committed under this program over an initial term of 4&nbsp;years.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In addition to GasAr Plan, since mid-July
2021 CAMMESA launched biweekly calls for tenders by GasAr Plan awardees that may offer surplus volumes, with a maximum price equivalent
to that awarded in the plan&#8217;s Round 1.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In 2023 and 2022, an average of 287 million
m3/day and 451 million m3/day were awarded to GasAr Plan beneficiaries at US$ 3.4 MBTU and US$ 3.5 MBTU, respectively (185 million m3/day
and 276 million m3/day, respectively, corresponding to the Neuquina Basin).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, in 2023, 25 million m3/day
were awarded in complementary calls at US$2.6/MBTU (of which 15&nbsp;million m3/day correspond to the Neuquina Basin).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.2.4.4 Natural Gas Exports</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On April 27, 2021, SE Resolution No. 360/21
regulated the new procedure for the authorization of natural gas exports. This resolution contemplates exports on a firm and preferential
basis for GasAr Plan&#8217;s awardees, and sets a minimum sale price equivalent to the summer price awarded in Round 1. In this manner,
the Company, as an awardee under GasAr Plan, may make firm exports during the summer period, extendable to the winter period when there
is an oversupply in a specific basin and with the prior approval of the applicable authority.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In May and December 2021, Pampa was granted
permits to export gas to Chile on a firm basis for a maximum volume of 1.5&nbsp;million m3/day and 1.22 million m3/day for the October
2021 &#8211; April 2022 and January &#8211; April 2022 periods, respectively. Besides, between September and December 2021, new interruptible
permits to Chile, Brazil, and Uruguay were added, with expirations between November 2022 and December 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under GasAr Plan, in August 2022 the Company
was cleared to export gas to Chile on a firm basis for a maximum volume of 1,492 MMm3/d for the October 2022 &#8211; April 2023 period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 17, 2022, SE Resolution No.
774/22, which supersedes SE Resolution No. 360/21, was published in the BO. This resolution establishes a new proceeding delimiting four
export areas: the Neuquina Basin and the Austral Basin with summer quotas (October 2023-April 2024 period) of 9 MMm3/day and 2 MMm3/day,
respectively, and the Noroeste Basin and other areas with no quota definition.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The distribution of firm summer quotas
among producers is made considering (i) the share of the producer&#8217;s volume in the basin&#8217;s total volume, and (ii) the highest
discount in the weighted-average price discount per volume against the basin&#8217;s incremental volume.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The minimum reference price is set at
the higher of the Brent quotation percentage determined by the SE and the average price awarded, adjusted by the seasonal index, with
the authorization to withdraw volumes from the contracts executed under GasAr Plan and/or the Reinsurance Plan with CAMMESA and/or ENARSA.</P>


<!-- Field: Page; Sequence: 38 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On April 19, 2023, the SE notified the
Company of the extension of the Neuquina basin&#8217;s natural gas export quota for the next winter period, consisting of: (i) an extraordinary
and priority quota of 2 million m3/d for the months of May and June 2023, assignable pro rata among the &#8220;July Flat Gas Commitment&#8221;
awardees, and (ii) a firm winter export quota under Plan GasAr for a 3 million m3/d volume for the months of July, August and September
2023.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In this sense, the Company was assigned
an additional volume of 872,727 m3/, totaling a 2,181,818 m3/d export quota for the months of May and June. The volume assigned for the
months of July, August and September was 857,449 m3/d. Regarding the minimum price for export permits, it will remain at US$ 7.73/MMBTU.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Moreover, the following export quotas
for the period between October 2023 and April 2024 were assigned: 9 million m3/d for the Neuquina Basin and 2 million m3/d for the Austral
Basin. The minimum price will result from calculating the simple average Brent oil prices in the first fifteen days of the month prior
to delivery, multiplied by 7%. The Company was assigned a 1,452,878 m3/d volume.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Besides, the SE set an export quota of
a total of 5.9 million m3/d for the winter period (May-September 2024) and a total of 9&nbsp;million m3/d for the summer period (October-December
2024). In line with its participation in Plan GasAr, the Company was assigned a volume of 610,989 m3/d for the winter period and 606,529
m3/d for the summer period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It is worth highlighting that a natural
gas export duty has been in effect since May 2020. PEN Executive Order No. 488/20, issued on May 19, 2020, established an export duty
exemption as long as the international Brent price was equal to or below US$45/bbl. The rate would rise gradually in line with the international
reference price until reaching 8%, the cap to be recognized when Brent equals or exceeds US$60/bbl. Since February 2021, the rate has
remained at 8%.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.2.4.5 &#8220;TransportAr National
Production&#8221; Pipelines System Program</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On February 9, 2022, SE Resolution No.
67/22 was published in the BO declaring the construction of &#8220;President N&eacute;stor Kirchner Pipeline&#8221; of national public
interest. This pipeline will transport natural gas through the Province of Neuqu&eacute;n, the Province of Buenos Aires, and the Province
of Santa Fe.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Moreover, it created the TransportAr Production
Gas Pipelines System Program to execute the works necessary to expand the system&#8217;s transportation capacity including a list of pipeline
works to be executed by ENARSA or through third parties to promote development, production growth, and natural gas self-supply, among
other objectives.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On August 10, 2022, Argentine authorities
signed contracts for the Stage 1 N&eacute;stor Kirchner Gas Pipeline construction, (Tratay&eacute;n - Salliquel&oacute;).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Later, PEN Executive Order No. 76/22,
published on February 14, 2022, granted ENARSA a 35-year transportation concession of President N&eacute;stor Kirchner pipeline under
Law No. 17,319 and the power to contract, plan, execute and call for tenders for the construction of the infrastructure works under the
Program. ENARSA may enter into transportation capacity freely-negotiated agreements with producers and/or carriers to construct or expand
all or part of the pipeline. This transportation capacity will not be covered by tariffs approved by ENARGAS, which will apply to the
remaining transportation capacity not committed under these agreements. This executive order grants YPF priority to hire the capacity
that can be freely negotiated by ENARSA. Moreover, ENARSA may fully or partially assign ownership of its concession to YPF.</P>


<!-- Field: Page; Sequence: 39 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Besides, the &#8220;Argentine Gas Development
Fund&#8221; administrative and financial trust was created, with ENARSA as trustor and beneficiary, to finance works under the program,
including the repayment of principal and interest services of the trust securities to be issued thereunder. The trust estate administrator
and trustee will be Banco de Inversi&oacute;n y Comercio Exterior S.A.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In July 2023, cleaning and filling operations
were conducted in the new Tratay&eacute;n &#8211; Salliquel&oacute; tranche of President N&eacute;stor Kirchner gas pipeline, and transportation
operations pursuant to regulatory requirements and standards started as from August 3, 2023.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">President N&eacute;stor Kirchner Gas Pipeline&#8217;s
Tratay&eacute;n &#8211; Salliquel&oacute; tranche, crosses the provinces of Neuqu&eacute;n, R&iacute;o Negro, La Pampa and Buenos Aires,
with a 573 km extension and an initial transportation capacity of 11&nbsp;million m3/day of gas produced at the Vaca Muerta field.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Furthermore, on August 25, 2023, a call
for tenders was launched for the Northern gas pipeline reversion project, complementary works to President N&eacute;stor Kirchner gas
pipeline consisting of the engineering and construction of the 122-km Tio Pujio &#8211; La Carlota gas pipeline, the 62-km expansion of
the Northern gas pipeline and the reversion of four compression plants in the provinces of C&oacute;rdoba, Santiago del Estero and Salta.
As of the issuance of these consolidated condensed interim financial statements, ENARSA, after declaring the call for tenders for line&nbsp;1
unawarded, granted the construction of lines 2 and 3 of the Northern gas pipeline reversion project to the Techint-SACDE Joint Venture
and will call for a new abbreviated tender process for line 1 of the pipeline.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.5 <U>Oil market</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.2.5.1 Crude oil price </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of this date, there is no reference
price for the sale of crude oil in the domestic market. However, considering pump prices for fuels, local refining companies are validating
prices below the export parity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Just as with natural gas exports, a crude
oil export duty has been in effect since May 2020. PEN Executive Order No. 488/20, issued on May 19, 2020, provided for an export duty
exemption as long as the international Brent price was equal to or below US$ 45/bbl, rising gradually as the international reference price
increased until reaching 8%, the cap to be recognised when the reference price equals or exceeds US$ 60/bbl. Since February 2021, the
rate has remained at 8%.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.2.5.2 Oil transportation</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In fiscal year 2022, Oldelval, as holder
of the national liquid hydrocarbons transportation concession, launched a call for tenders to award and hire the firm transportation service
for the Allen - Puerto Rosales oil pipeline tranche for a capacity of up to 50,000 m3/day.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">This volume has been fully awarded, and
the necessary execution contracts have been entered into, effective until the termination of the transportation concession term in 2037.
Pampa was awarded 1,002 m3/day.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under Oldelval&#8217;s call for tenders,
the company Oiltanking Ebytem launched a call to increase the oil dispatch capacity for up to 50,000 m3/day and the storage capacity for
up to 300,000 m3. These expansions will be allocated exclusively to oil exports. Pampa was awarded a 1,002 m3/day dispatch capacity and
oil storage capacity for 6,008 m3.</P>


<!-- Field: Page; Sequence: 40 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">2.3
Gas Transportation</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.3.1 <U>TGS&#8217;s Tariff situation
</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On March 30, 2017, TGS executed the 2017
Integral Agreement which was ratified on March 27, 2018, through PEN Executive Order No. 250/18. This executive order represents the conclusion
of the RTI process and terminates all transitional agreements celebrated by TGS.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The 2017 Integral Agreement set the guidelines
for the provision of the natural gas transportation service until the end of the license, among these guidelines approved: (i) a tariff
increase was granted in installments for TGS as from April 1, 2017; (ii) a Five-Year Investment Plan to be executed by TGS between April
2017 and March, 2022; and (iii) a non-automatic six-month adjustment mechanism for the natural gas transportation tariff and the investment
commitments considering IPIM published by INDEC subject to ENARGAS&#8217; approval.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the public hearing held on September
4, 2018, in which TGS requested, based on the variation of the IPIM recorded for the period February - August 2018, a tariff increase
of approximately 30%. Considering the hearing, on September 27, 2018, ENARGAS issued Resolution No. 265/18 which determined a 19.7% tariff
increase effective as of October 1, 2018.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">This increase was determined by ENARGAS
based on the simple average of the IPIM, the construction cost index for the period February and August 2018 and the Salary Variation
Index between December 2017 and June 2018. ENARGAS supported the determination of the aforementioned tariff increase in the provisions
of Resolution No. 4,362/17, which, among other issues, provided that under certain circumstances and macroeconomic conditions, such as
the significant devaluation occurred after April 2018, ENARGAS may use other indexes than the IPIM to determine the tariff increase. TGS
notified ENARGAS of its disagreement with respect to the methodology for calculating the semi-annual adjustment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On March 29, 2019, ENARGAS issued Resolution
No. 192/19 approved, effective as from April 1, 2019, a 26% increase in tariff schemes applicable to the natural gas transportation utility
by TGS current as of March 31, 2019. In accordance with current regulations, ENARGAS considered the evolution of the IPIM update index
between the months of August 2018 and February 2019 to define six-monthly adjustments to TGS&#8217; tariffs.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As regards the semi-annual tariff update
which should have become effective as from October 1, 2019, on September 3, 2019, the SE issued Resolution No. 521/19, later amended by
Resolution No. 751/19, postponed its application until February 1, 2020. This deferral resulted in the revision and adjustment of the
Five-Year Investment Plan execution, in the same proportion as the foregone income for TGS.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 16, 2020, PEN Executive Order
No. 1,020/20 was passed within the framework of the Solidarity Law, later extended by PEN Executive Order No. 815/22, launching the renegotiation
of the RTI concluded in 2018 while suspending renegotiation agreements in force until December 16, 2023 and providing for the administrative
intervention of the ENARGAS.</P>


<!-- Field: Page; Sequence: 41 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The public hearing called by ENARGAS to
discuss the RTT pursuant to the provisions of PEN Executive Order No.&nbsp;1,020/20 took place on March 16, 2021. In this respect, TGS,
without waiving the whole of its percentage share of tariff recomposition, alternatively submitted its tariff increase proposal, assessed
at 58.6% as from April 1, 2021. This increase was assessed based on the financial needs to meet operating and financial costs, capital
expenditures and taxes, which were calculated taking into consideration the evolution of the inflation rate over a 12-month period as
from its beginning. The requested increase only contemplated the funds necessary to meet its obligations as licensee.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, TGS denied and dismissed
the arguments raised in the public hearing, which considered that the current natural gas transportation tariff is not fair or reasonable
given the alleged existence of serious flaws in the administrative acts resulting from the proceedings for the last RTI established for&nbsp;TGS.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On April 28, 2021, ENARGAS submitted to
TGS the 2021 Transitional Agreement (&#8220;RTT 2021&#8221;), which: (i) does not grant a transitory tariff update, keeping unchanged
the tariff schemes approved by ENARGAS in April 2019; (ii) provides that, as from May 2021 and until the Final Renegotiation Agreement
enters into effect, ENARGAS will recalculate the transportation tariffs effective at the time, with validity as from April 1, 2022.; (iii)
does not establish a mandatory investment plan; and (iv) establishes the prohibition to distribute dividends, early cancel financial and
commercial debts taken on with shareholders, acquire other companies, or grant loans.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On April 30, 2021 and through a note sent
to this body, TGS expressed that, given the context in which it develops its activities and the proposed terms and conditions, it is not
feasible for TGS to enter into the RTT 2021.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On June 2, 2021, ENARGAS issued Resolution
No. 149/21 approving an RTT 2021 for TGS effective as from that date. Moreover, the National Ministry of Economy and ENARGAS issued Joint
Resolution No. 1/21 approving the proceedings under the renegotiation process developed by ENARGAS pursuant to PEN Executive Order No.
1,020/20, stating that it was not feasible to reach an agreement on a transitional tariff update.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Given this situation, in July 2021, TGS
filed motions for reconsideration, subsidiarity filing a hierarchical appeal, before the PEN, the National Ministry of Economy and ENARGAS
according to the respective jurisdictions of each of these bodies in the passing of the regulations associated with Resolution No. 149/21,
requesting the declaration of nullity of the RTT 2021 and the reinstatement of the RTI.</P>


<!-- Field: Page; Sequence: 42 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The challenges are based on: (i) the illegality
of Executive Order No. 1,020/20, as it does not observe the delegation lines provided for by Act No. 27,541 and, as it does not meet the
requirements established by the Constitution for the dictation of this regulation; (ii) the extension of the emergency period beyond that
established by the Congress; (iii) the tariff renegotiation under Act No. 24,076 is not performed; (iv) the disregard for the principle
of fair and reasonable tariffs, and the rights acquired by TGS under the license, the Contractual Adjustment Memorandum of Understanding
and the RTI; and (v) the suspension of the RTI for reasons of public interest, which merits the recognition of the compensations provided
for by both the Administrative Procedures Act and the License Basic Rules.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In turn, the restrictions on the management
and administration of TGS have been challenged for lacking legal justification, as the emergency declared by Act No. 27,541 only empowered
the PEN to renegotiate the RTI, but not the License. The challenges and the request for reinstatement of the RTI have been filed notwithstanding
TGS&#8217;s right to the payment of the compensations it is entitled to on account of the breach of the RTI as from April 2019.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 15, 2021, TGS filed a Prior
Administrative Claim before ENARGAS and the Ministry of Economy. This presentation seeks to request compensation due to TGS for the non-application
of the semi-annual adjustment methodology set by the RTI and approved by Resolution 4,362 between October 1, 2019 and June 1, 2021.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Moreover, TGS seeks compensation for the
damages sustained by the freeze resulting from the failure to apply the semi-annual adjustment methodology set by the RTI for this period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On January 19, 2022, a new public hearing
was held within the framework of ENARGAS Resolution No. 518/21 to address the transition tariff update under PEN Executive Order No. 1020/20.
In this hearing, aiming to reach a final agreement and restore the economic and financial equation, TGS requested a transition tariff
adjustment in two stages for 2022 for a total of 106%, given the evolution of operating costs and the main macroeconomic indicators.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Later, on February 1, 2022, TGS received
from ENARGAS the proposed Renegotiation Transition Agreement (the &#8220;RTT 2022&#8221;), which was approved by TGS&#8217;s Board of
Directors on February 2, 2022, and by the applicable governmental bodies on February 18, 2022. The RTT 2022 included certain terms similar
to the RTT 2021, with the specific provision that it granted TGS a 60% tariff increase effective from March 1, 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The RTT 2022 was ratified through PEN
Executive Order No. 91/22, effective from February 23, 2022. On February 25, 2022, ENARGAS Resolution No. 60/22 was published in the BO,
launching the tariff schemes contemplated in the RTT 2022.</P>


<!-- Field: Page; Sequence: 43 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It is worth highlighting that, as provided
in the RTT 2022, TGS undertook not to initiate new claims, remedies, lawsuits, or any kind of actions; and/or to suspend, keep suspended
or extend the suspension of all claims and remedies associated in any way with the current RTI renegotiation, Law No. 27,541, Decrees
No. 278/20 and No. 1,020/20.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 7, 2022, ENARGAS issued Resolution
No. 523/22 calling for a public hearing, to be held on January 4, 2023, to consider the transitional tariff update for the natural gas
transportation utility.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On March 16, 2023, TGS&#8217;s Board of
Directors approved a proposed addendum to the renegotiation transitionary agreement (the &#8220;2023 RTT&#8221;) sent by ENARGAS. On April
27, 2023, ENARGAS issued Resolution No. 186/23 publishing the new effective tariff schemes. The 2023 RTT was later ratified by PEN Executive
Order No. 250/23 dated April 29, 2023.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The 2023 RTT includes, effective from
April 29, 2023, a 95% transitionary tariff increase on the natural gas transportation tariff and the access and use charge. While it is
in force, TGS may not distribute dividends or directly or indirectly early cancel financial and commercial debts taken on with shareholders,
acquire other companies or grant loans, except for loans benefiting users or granted to contractors not covered by the previously indicated
cases. If TGS deems it appropriate to act otherwise, it should require the corresponding authorization.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 14, 2023, a public hearing
was called for January 8, 2024 under ENARGAS Resolution No. 704/23. As of the date of issuance of these Consolidated Financial Statements,
the applicable regulations authorizing a transitional tariff increase while the RTI process is underway have not been issued.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 16, 2023, PEN Executive Order
No. 55/23 was issued, declaring the emergency in the national energy sector until December 31, 2024. Among other issues, this executive
order: (i) extends the validity of PEN Executive Order No. 1020/20, (ii) establishes the launching of the RTI process, (iii) sets ENARGAS&#8217;
public audit as from January 1, 2024, and (iv) instructs the SE to issue the necessary rules and procedures for sanctioning market prices
for the natural gas transmission utility.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.3.2 <U>License extension request</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On September 8, 2023, TGS submitted a
request to ENARGAS to initiate a license term extension proceeding, as contemplated in Act No. 24,076, and requested the adoption of the
existing performance assessment and public hearing measures so that, once all established administrative formalities and proceedings are
met, a 10-year extension may be granted as from the initial term, effective on December 28, 2027, for the provision of the gas transportation
service contemplating all the scopes of the license approved by Executive Order No. 2,458/92.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of the date of issuance of these Consolidated
Condensed Interim Financial Statements, TGS has not received a formal response from ENARGAS regarding this request.</P>


<!-- Field: Page; Sequence: 44 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.3.3 <U>Regulatory framework of the segment
of Production and Commercialization of Liquids</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.3.3.1 Domestic market</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The production and commercialization of
liquids segment is not subject to regulation by ENARGAS. However, over recent years, the Argentine Government enacted regulations which
significantly impacted it.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">GLP domestic sales prices are impacted
by the provisions of Law No. 26,020 &quot;Regime of the industry and commercialization of liquefied petroleum gas&quot; and the Argentine
Government through the public office in charge, that set forth LPG minimum volumes to be sold in the local market in order to guarantee
domestic supply.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In this context, TGS sells the production
of propane and butane to fractionators at prices determined semiannually. On March 30, 2015, the PEN issued Decree No. 470/15, regulated
by SE Resolution No. 49/15, which created the &#8220;Household Plan&#8221; and sets a maximum reference price for the members of the commercialization
chain in order to guarantee the supply to low-income residential user, by committing the GLP producers to supply at a fixed price with
a quota assigned to each producer. Initially, a payment of compensation to the Household Plan participating producers was established,
which was eliminated as from February 2019.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">TGS has filed various administrative and
judicial claims challenging the general regulations of the program, as well as the administrative acts that determine the volumes of butane
that must be sold in the domestic market, in order to safeguard its economic-financial situation and thus, preventing that this situation
does not extend over time.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In addition, TGS is a party of the Propane
Gas Supply Agreement for Induced Propane Gas Distribution Networks (&quot;Propane for Networks Agreement&quot;) entered into with the
Argentine Government and propane producers by which it undertakes to supply propane to induced propane gas distributors and sub- distributors
through at a price lower than the market price. In compensation, TGS receives an economic compensation calculated as the difference between
the sale price and the export parity determined by the SE.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As it has been previously mentioned, participation
in the Household Plan results in economic and financial damage to TGS, since under certain circumstances products would be sold at prices
below their production costs.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, the Argentine
Government owes TGS $ 4,676 million under these items.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.3.3.2 Foreign market</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Executive Order No. 488/20 regulated the
rate applicable to the export duties for certain gas and oil derivatives, including the products produced and exported by TGS, which ranges
between 0% and 8% depending on the price of the &#8220;ICE Brent first line&#8221; barrel. If this price is below US$ 45, the rate is
0%. Instead, if the price equals or exceeds US$ 60, an 8% rate is paid, and the rate is variable if the price is between US$ 45 and US$
60.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">During 2023, TGS participated in the Export
Increase Program (see Note 2.6.4).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">2.4
Transmisi&oacute;n</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.4.1 <U>Transener and Transba tariff
situation </U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On February 25, 2022, the ENRE communicated
Resolutions No. 68/22 and 69/22 approving the new hourly remuneration values effective from February 1, 2022, establishing a 25% and
23% increase compared to the values effective from 2019 for Transener and Transba, respectively. Considering the difference between the
presented financial and economic projections and the values finally approved by the ENRE, a motion to review the records and the respective
preliminary challenges was submitted. Moreover, on March 15, 2022, the applicable motions for reconsideration against these resolutions
were filed. Consequently, under Resolutions No. 147/22 and 148/22, on May 9, 2022 the ENRE partially upheld the filed motions and modified
the hourly remuneration values effective from February 1, 2022, establishing a 67% and 69% increase over the values effective from August
2019 for Transener and Transba, respectively.</P>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>


<!-- Field: Page; Sequence: 45 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Since August 2022, Transener and Transba
filed notes and held meetings with the SE and the ENRE requesting an update to the transitional tariffs effective from September 2022,
chargeable against the increase to be assessed for 2023. To this effect, the 2023 economic and financial projection was presented with
an explanatory document and a detail of the projected investment plan. Moreover, a presentation was made to CAMMESA&#8217;s Board of Directors
to put the criticality of the transportation sector on record.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under Resolution No. 539/2022, on October
20, 2022 the ENRE called for a public hearing on November 30, 2022 to inform of and gather feedback on the electricity transmission utility
concessionaires&#8217; proposals towards a transitional tariff update under the RTI Renegotiation Process before defining the tariffs
applicable by the concessionaires.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Furthermore, on December 6, 2022, PEN
Executive Order No. 815/22 extended for one-year term PEN Executive Order No. 1,020/20 published on December 17, 2020, through which initiated
RTI renegotiation within up to 2 years from its publication.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Later, on December 29, 2022, aiming to
preserve in 2023 the purchasing power of the revenues established in Resolutions No. 147/22 and 148/22, the ENRE issued Resolutions No.
698/22 and 702/22 setting the hourly remuneration values effective from January 1, 2023, and establishing a 154.5% and 154.1% increase
over the February 2022 values for Transener and Transba, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On April 20, 2023, under ENRE Resolution
No. 364/23, the ENRE launched the comprehensive tariff review process (&#8220;RTI&#8221;) for electricity transmission companies pursuant
to Act No. 24,065 and Act No. 27,541, setting a 30-day term to draw up the guidelines and schedule for its development.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 29, 2023, ENRE Resolution No. 421/23
approved the transmission tariff review program for the year 2023 and the first quarter of 2024, and provided for the ENRE&acute;s notification
of the schedule and information requirements during the months of September and October 2023. In this sense, under a note dated October
26, 2023, the ENRE filed a first request for information, mainly associated with a description of the facilities making up the transportation
system, expansions under execution, investment plans and corridors&#8217; saturation status. On October 27, 2023, Transener and Transba
answered that they would comply with such request in due time and manner, but that it would be necessary for the ENRE to define: i) the
complete RTI process schedule, ii) the economic, financial and regulatory criteria under which such process will be conducted; and iii)
issues regarding the first management period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On September 8, 2023, aiming to preserve
the purchasing power of the revenues established in ENRE Resolutions No. 147/22 and 148/22, the ENRE issued Resolutions No. 660/23 and
661/23 setting the hourly remuneration values effective from August 1, 2023, which represent 20.9% and 20.84% increases over the January
2023 values for Transener and Transba, respectively. Likewise, pursuant to ENRE Resolutions No. 780/23 and 781/23, on November 1, 2023,
hourly remuneration values effective from November 1, 2023 were established, which represented a 37.33% and 38.44% increase over the values
effective from August 2023 for Transener and Transba, respectively.</P>


<!-- Field: Page; Sequence: 46 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Furthermore, PEN Executive Order No. 55/23,
dated December 16, 2023, declared the emergency in the national energy sector until December 31, 2024. Among other issues, the mentioned
executive order established the launching of the tariff review process in accordance Article 43 of Law No. 24,065 for public electricity
distribution and transmission companies under federal jurisdiction and established that the entry into force of the resulting tariff schedules
may not exceed December 31, 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Consequently, on January 2, 2024, through
ENRE Resolution No. 3/24, a Public Hearing was called, which was held on January 29, 2024, in order to to inform of and gather feedback
on the electricity transmission utility concessionaires&#8217; proposals towards a transitional tariff update under the RTI Renegotiation
Process before defining the tariffs applicable by the concessionaires.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, through ENRE Resolutions No.
104/24 and 105/24, hourly remuneration values effective as from February 19, 2024 (date of publication in the BO) were established, which
represented an increase of 179.7% and 191.1% compared to the values in force since November 2023 for Transener and Transba, respectively.
Likewise, the tariff adjustment rate to be applied on monthly bases as from May 2024, was determined according to a formula based on
wage index, wholesale prices index and consumer prices index.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.5
Regulations on access to the MLC</B></FONT></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In 2020, BCRA introduced measures with
the purpose of regulating inflows and outflows in the MLC to maintain the exchange rate stability and protect international reserves in
view of the high degree of uncertainty and volatility in the exchange rate, including restrictions associated with transactions with stock
market assets by companies and the disposal of liquid foreign assets. Specifically, as from December 11, 2023, any demand for foreign
currency at the MLC requires BCRA&#8217;s prior authorization.</P>


<!-- Field: Page; Sequence: 47 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following are certain exceptions to
the prior authorization requirement for access to the MLC:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Firstly, access to the MLC for outflows
without BCRA&#8217;s prior authorization is allowed through the submission of an affidavit declaring that all foreign currency holdings
in the country are deposited in accounts with local financial institutions and that no liquid foreign assets are held for an amount exceeding
US$ 100,000. In case such liquid foreign assets exceed US$ 100,000, an additional affidavit may be filed stating that there is no such
excess amount because payments were made for the MLC through swap and/or arbitrage transactions with deposited funds.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As from December 13, 2023, the MLC may
be accessed, without BCRA&#8217;s prior authorization, for deferred payments of new imports of goods with customs entry registration,
depending on the type of good and according to the schedules provided. Besides, regarding the payment of services rendered by non-residents,
and depending on the type and term of payment, the MLC may be accessed once such services have accrued and/or been rendered.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Moreover, if access to the MLC has been
requested, the entry and settlement in the MLC of the funds received abroad originating from the collection of loans granted to third
parties, the collection of term deposits or the sale of any kind of asset is mandatory within 5 business days of their availability, when
the asset has been acquired, the deposit has been created, or the loan has been granted after May 28, 2020.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Regarding the trading of stock market
assets, it is established that access to the MLC may be granted without BCRA&#8217;s prior authorization by submitting an affidavit stating
that, on the date of access to the MLC and in the previous 90 or 180 calendar days, in case securities issued under Argentine law or foreign
law, respectively, are used, whether directly or indirectly or for the account and order of third parties, no sales of securities issued
by residents to be settled in foreign currency, exchanges of securities issued by residents for foreign assets, transfers of securities
to foreign depositories, acquisitions in the country of securities issued by non-residents to be settled in pesos, acquisitions of CEDEAR
representing foreign shares, acquisitions of securities representing private debt issued in foreign jurisdictions, or deliveries of funds
in local currency or other local assets (except funds in foreign currency deposited in local financial entities) have been made to any
person (whether a person or legal entity, resident or non-resident, related or not), resident or non-resident, and whether or not affiliated),
receiving as prior or subsequent consideration, directly or indirectly, on its own or through an affiliated, controlled or controlling
entity, foreign assets, crypto-assets or securities deposited abroad; and finally, there must be a commitment not to enter into the detailed
transactions during the 90/180 calendar days following the request for access to the MLC. Likewise, for access to the MLC by legal entities,
an additional affidavit must be submitted stating: (a) details of the individuals or legal entities exercising a direct control relationship
according to BCRA&#8217;s regulations; and (b) that on the day on which access to the MLC is requested and in the previous 180 days, no
funds in local currency or other liquid local assets (except funds in foreign currency deposited in local financial entities) were delivered
in Argentina to any individual or legal entity exercising direct control, or to other companies making up the same economic group, except
those directly associated with regular transactions for the acquisition of goods and/or services. The requirement stated in item (b) is
deemed met if an affidavit is filed regarding transactions with securities of each of these individuals or legal entities pursuant to
the current exchange regulations. Finally, on September 28, 2023, the BCRA established that sales of securities to be settled in foreign
currency in the country or abroad should not be taken into consideration when all the funds obtained from such settlements have been or
are used within 10 calendar days following certain transactions listed in BCRA regulations.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On its part, the BCRA extended the obligation
to submit a refinancing plan for certain debts and principal maturities scheduled up to December 31, 2023, based on the following criteria:
(i) access to the MLC for up to 40% of the principal amount, in the original term; and (ii) the refinancing of the principal balance,
with new foreign indebtedness with an average maturity of 2 years. Within the framework of this refinancing process, access to the MLC
is allowed for the early cancellation of principal, interest or debt swaps up to 45 calendar days before the maturity date, provided
all requirements set forth by the regulation have been verified. Likewise, the BCRA accepts access to the MLC for the cancellation of
financial indebtedness abroad (provided they are not related parties) during the month of December 2023 as from the payable principal
or interest&#8217;s maturity date. Access is also possible up to 3 business days before the maturity date if the payment is made by means
of an exchange and/or arbitration against a local foreign-currency account held by the customer authorized to make such payment.</P>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>


<!-- Field: Page; Sequence: 48 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, in October 2022, the Integrated
System for Monitoring Imports (&#8220;SIMI&#8221;) and the Integrated System for Monitoring Foreign Payments of Services (&#8220;SIMPES&#8221;)
were replaced by the Argentine Republic&#8217;s Imports System (&#8220;SIRA&#8221;) and the Argentine Republic&#8217;s Imports and Foreign
Service Payments System (&#8220;SIRASE&#8221;), respectively. Moreover, the BCRA established that no more advance, sight or deferred payments,
or payments of commercial debts with no customs registration may be made through these new mechanisms, except for certain cases contemplated
in the regulation. Subsequently, on December 26, 2023, the SIRA and SIRASE system was abrogated and a new system, called Statistical System
for Imports (&#8220;SEDI&#8221;), was created. This system provides that: (i) the affidavit has a term of validity of 360 days from the
exit status; (ii) the analysis of the tax situation and the economic-financial capacity is performed prior to the affidavit&#8217;s formalization;
(iii) the state agencies will have 30 days to render a decision and, in the absence of a decision upon the expiration of such term, the
affidavit will automatically go to exit status; and (iv) no information or approval must be required regarding the date of access to the
MLC. Additionally, the Record of Commercial Debts for Imports with Foreign Suppliers is created for the registration of subjects having
commercial debts for goods and/or services imports with a formalization date prior to December 13, 2023. The corresponding Group&#8217;s
companies have been registered in the mentioned record.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, the BCRA introduced adjustments
to foreign exchange regulations establishing, among other provisions, access to the MLC for subjects obtaining certifications under currency
access systems for the incremental production of oil and/or natural gas pursuant to PEN Executive Order No. 277/22 (see Note 2.2.3), for
up to the amount of each certification, to be allocated to the payment of: (i) principal and interest of commercial or financial liabilities
abroad, including liabilities with non-resident affiliates, (ii) earnings and dividends for closed and audited balance sheets; and/or
(iii) the repatriation of direct investments by non-residents. RADPIP and/or RADPIGN beneficiaries must appoint a single domestic financial
entity responsible for issuing such certifications and recording the amounts recognized by the SE and the applicable period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It is worth highlighting that the detailed
information does not list all possibly applicable exchange regulations; for more information on Argentina&#8217;s exchange rate policies,
please visit the Central Bank&#8217;s website: www.bcra.gov.ar.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 49 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">2.6
Tax regulations - Main tax reforms</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Pursuant to Law No. 27,430, Law No. 27,541,
Law No. 27,630, and Law No. 27,701 several modifications were introduced in the tax treatment, the key components of which are described
below:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.6.1 <U>Income tax</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.6.1.1 Income tax rate</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Pursuant to Law No. 27,430, the income
tax rate for Argentine companies would be gradually reduced from 35% to 30% for fiscal years beginning from January 1, 2018 to December
31, 2019, and to 25% for fiscal years beginning on or after January 1, 2020. However, Law No. 27,541 suspended the tax rate reduction
planned for fiscal year 2020, keeping the rate at 30%.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On June 16, 2021, Law No. 27,630 was published
in the BO, which modified the income tax rate effective for fiscal years starting as from January 1, 2021 inclusive. This modification
provides for the application of a tiered rate scheme and, if applicable, a fixed tax according to the accumulated net taxable income tier:
(i) for accumulated net income of up to $ 5&nbsp;million, it establishes a 25% rate; (ii) for accumulated net income between $ 5 and $
50 million, it establishes a fixed tax of $1.25&nbsp;million plus a 30% rate over the surplus of $ 5&nbsp;million; and (iii) for accumulated
net income above $ 50 million, it establishes a fixed tax of $ 14.75&nbsp;million plus a 35% rate over the surplus of $50&nbsp;million.
The accumulated net income amount is adjusted yearly, as from January 1, 2022, taking into consideration the annual CPI variation published
by the INDEC.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The effect of the changes on deferred
tax corresponding to comparative periods pursuant to the above-mentioned tax reform was recognised, considering the effective rate expected
to be applicable at deferred assets and liabilities realization year, in &#8220;Effect of tax rate change in the deferred tax&#8221; under
&#8220;Income tax&#8221; of the Consolidated Statement of Comprehensive Income (Note 10.6).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On August 16, 2022, AFIP&#8217;s General
Resolution No. 5,248/22 was published in the BO, whereby the AFIP established a one-time income tax prepayment by taxpayers and responsible
persons listed in Section 73 of Law No. 20,628, as amended, meeting the following parameters: (i) an assessed tax for the 2021 or 2022
tax period of at least $ 100 million, or (ii) taxable income, without deducting accumulated tax losses, of at least $ 300 million. The
Company and its subsidiaries paid an income tax prepayment for $ 1,863 million for the year 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 4, 2023, AFIP&#8217;s General
Resolution No. 5,453/23 was published in the BO, establishing a new income tax prepayment by taxpayers and responsible persons listed
in Section 73 of Law No. 20,628, as amended, meeting the following conditions: (i) main activity of crude oil and natural gas extraction,
oil refining products manufacturing and conventional thermal energy generation; and (ii) taxable income, without deduction of prior years'
losses, in an amount equal to or exceeding $&nbsp;600 million. The Company and its subsidiaries have not been affected by this&nbsp;resolution.</P>


<!-- Field: Page; Sequence: 50 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.6.1.2 Tax on dividends</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Law No. 27,430 and modifications introduced
by Law No. 27,541 and Law No. 27,630, established a 7% tax on dividends derived from earnings accrued during fiscal years beginning as
from January 1, 2018, which be distributed by Argentine companies to individuals, undivided estates or beneficiaries residing abroad.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Dividends resulting from benefits gained
until the fiscal year prior to that beginning on January 1, 2018 will remain subject to the 35% withholding on the amount exceeding the
untaxed distributable retained earnings (equalization tax&#8217; transition period) for all beneficiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>2.6.1.3 </I>Tax inflation adjustment</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Law No. 27,430 sets out the following
rules for the application of the income tax inflation adjustment mechanism:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(i)</TD><TD STYLE="text-align: justify">a cost adjustment for goods acquired or investments made during fiscal years beginning after January 1,
2018 taking into consideration the percentage variations in the CPI published by the INDEC; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(ii)</TD><TD STYLE="text-align: justify">the application of the adjustment provided for by Title VI of the Income Tax Law when variations in the
above-mentioned index exceed 100% over the 36 months preceding the closing of the fiscal period to be settled.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Law No. 27,541 provided that, as regards
the positive or negative fiscal inflation adjustment determined as a result of the application of the adjustment provided for by Title
VI of the Income Tax Law corresponding to the first and second fiscal year starting as from January 1, 2019, one-sixth should be charged
in that fiscal period and the remaining five sixths, in equal parts, in the five immediately following fiscal periods.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 1, 2022, Law No. 27,701 was
published in the BO, which established that taxpayers determining a positive inflation adjustment in the first and second fiscal year
starting from January 1, 2022 (inclusive) may allocate one-third in that fiscal period and the remaining two-thirds, in equal parts, in
the two immediately following fiscal periods. This computation only applies to subjects making investments in the purchase, construction,
manufacture, production or final import of property, plant and equipment, except automobiles, during each of the two fiscal periods immediately
following that in which the computation of the first third of the period in question exceeds or equals $ 30,000 million.</P>


<!-- Field: Page; Sequence: 51 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of issuance of these Consolidated Financial
Statements, this provision has not yet been regulated.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company and its subsidiaries determine
and disclose the impact of the tax inflation adjustment for each of the fiscal periods in which it is applicable.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.6.2 <U>Value-added tax</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">A procedure is established for the reimbursement
of tax credits originated in investments in property, plant and equipment which, after 6 months as from their assessment, have not been
absorbed by tax debits generated by the activity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.6.3 <U>Tax for an Inclusive and Caring
Argentina (Impuesto Para una Argentina Inclusiva y Solidaria, &#8220;PAIS&#8221;) for import and foreign service procurement transactions</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Executive Order No. 377/23, dated July
24, 2023, extends the application of the PAIS tax to the acquisition of services abroad and import transactions for certain goods, exempting
goods associated with the energy sector pursuant to SE regulations. Moreover, its regulation under AFIP Resolution No. 5,393/23, dated
July 25, 2023, provided for an advance payment offsettable against the PAIS tax equivalent to 95% of the total final tax payable for certain
goods and merchandise. This advance payment should be paid by the importer when declaring the import&#8217;s intended use. The PAIS tax&#8217;s
remaining 5% balance should be paid when accessing the MLC to make the payment abroad, where the intervening bank will act as collection
and settlement agent.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 8pt; text-align: justify"><I>PAIS tax exemption for import transactions</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify">SE Resolutions No. 671/23, 714/23, 824/23 and
955/23 regulated the PAIS tax exemption for import transactions of goods associated with the energy sector.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify">Thus, the following import transactions are exempted
from this tax:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">i)</TD><TD STYLE="text-align: justify">liquid fuels, natural gas and electricity;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">ii)</TD><TD STYLE="text-align: justify">goods destined for the construction and start-up of President N&eacute;stor Kirchner Gas Pipeline, the
reversion of the Northern Gas Pipeline and related works, and the works making up the Gas Pipeline Network&nbsp;Program;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">iii)</TD><TD STYLE="text-align: justify">goods destined for power generation works with or without foreign financing for the payment of imports;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">iv)</TD><TD STYLE="text-align: justify">goods for works and maintenance of renewable energy generation projects comprised
in exhibits to the regulatory resolutions, including PEPE II through IV, PE Arauco and PEPE VI wind farms;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">v)</TD><TD STYLE="text-align: justify">goods for works and maintenance of thermal and hydropower plants included in the lists attached to the
regulatory resolutions, including the Company assets.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify">2.6.4 <U>Export Increase Program</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify">On October 3, 2023, SE Resolution No. 808/23
temporarily included the products sold by the Company, among other exports, under the Export Increase Program created by PEN Executive
Order No. 576/22.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 52 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under this program, at least 75% of the
export values had to be entered into the country in foreign currency, and the remaining 25% could be settled in pesos through the purchase
of marketable securities for exports settled October 2 through 20, 2023, with an effective export date up to November 30, 2023. The Company
opted into this program.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Subsequently, PEN Executive Orders No.
549/23 and No. 597/23 reduced to 70% and 50%, respectively, the minimum foreign currency settlement percentage for exports settled in
the October 23-November 17, 2023 and November 20-December 10, 2023 periods, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify">Finally, PEN Executive Order No. 28/23 established
a minimum income equivalent to 80% of the value of exports in foreign currency, and the remaining 20% would be settled in pesos through
the purchase of marketable securities as from December 13, 2023.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt; text-align: justify"><U>NOTE 3</U>: BASIS OF PREPARATION</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">These Consolidated Financial Statements
have been prepared in accordance with IFRS&acute; Accounting Standards issued by IASB, are expressed in million dollars and were approved
for their issuance by the Board of Directors on March 6, 2024. Significant accounting policies adopted in the preparation of these Consolidated
Financial Statements are described in Note 4, which have been consistently applied.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">This consolidated financial information
has been prepared under the historical cost convention, modified by the measurement of financial assets at fair value through profit or
loss.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">These accounting policies have been applied
consistently by all Group companies. Additionally, certain non-significant reclassifications have been made to financial statements presented
with comparative purposes to keep the consistency in the presentation with the amounts of the current year.</P>


<!-- Field: Page; Sequence: 53 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 4</U>: ACCOUNTING POLICIES</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0">The main accounting policies used in the preparation of these
Consolidated Financial Statements are explained below.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Pursuant to CNV General Resolution No.
972/23, the early application of IFRS&acute; Accounting Standards and/or their amendments is not allowed, unless specifically allowed
at the time of adoption.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0">As of December 31, 2023, the Company has not opted for the
early application of IFRS&acute; Accounting Standards and/or its amendments.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.1
New accounting standards, amendments and interpretations issued by the IASB effective as of December 31, 2023 and adopted by the Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">The Company has applied the following standards and/or amendments
for the first time as of January 1, 2023:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 25.1pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">IFRS 17 - &#8220;Insurance Contracts&#8221; (issued in May 2017 and later amended in June 2020 and December&nbsp;2021)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 25.1pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">IAS 1 - &#8220;Presentation of financial statements&#8221; (amended in February 2021)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 25.1pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">IAS 8 &#8211; &#8220;Accounting Policies&#8221; (amended in February 2021)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 25.1pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">IAS 12 - &#8220;Income Taxes&#8221; (amended in May 2021 and May 2023)</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The application of the detailed standards
and amendments did not have any impact on the results of the operations or the financial position of the Company.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.2
New standards, amendments and interpretations issued by the IASB not yet effective and which have not been early adopted by the Company</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">-<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;
</FONT> IFRS 16 - &#8220;Leases&#8221;: amended in September 2022. It incorporates amendments on sale and leaseback transactions. Amendments
are applicable to fiscal years starting on or after January 1, 2024, allowing for early adoption. Their application will not have a significant
impact on the Company&#8217;s operating results or financial position.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">-<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;
</FONT> IAS 1 - &#8220;Presentation of financial statements&#8221;: amended in January 2020, July 2020 and October 2022. It incorporates
amendments to the classification of liabilities as current or non-current and provides clarification on treatment to be given to liabilities
with covenants. Amendments are applicable to fiscal years starting on or after January 1, 2024, allowing for early adoption. Their application
will not have a significant impact on the Company&#8217;s operating results or financial position.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">-<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;
</FONT>IAS 7 - &#8220;Statement of Cash Flows&#8221; and IFRS 7 - &#8220;Financial instruments - disclosures&#8221;: amended in May 2023.
It incorporates disclosure requirements for information on financing agreements with suppliers to assess the effects of such agreements
on liabilities, cash flows and exposure to liquidity risk. Amendments are applicable to fiscal years starting on or after January 1, 2024,
allowing for early adoption. Their application will not have a significant impact on the Company&#8217;s operating results or financial
position.</P>


<!-- Field: Page; Sequence: 54 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">-<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;
</FONT>IAS&nbsp;21 - Effects of changes in foreign exchange rates: amended in August 2023. It incorporates the accounting treatment in
the event of lack of currency convertibility, establishing the guidelines for estimating the exchange rate to reflect the rate at which
each transaction would take place at the measurement date, with the prevailing economic conditions. Amendments are applicable to fiscal
years starting on or after January 1, 2025, allowing for early adoption. The Company is analyzing the foreign exchange context to evaluate
the lack of currency convertibility and, if applicable, the impact of its application on the Company's operating results and financial
position.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.3
Effects of changes in foreign exchange rates</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.3.1 <U>Functional and presentation currency</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The information included in these Consolidated
Financial Statements is recorded in U.S. dollars, which is the Company&#8217;s functional currency, that is, the currency of the primary
economic environment where the entity operates.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.3.2 <U>Foreign-currency transactions
and balances</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Foreign currency transactions are translated
into the functional currency at the exchange rates prevailing on each transaction date or valuation date, when items are remeasured. Foreign
exchange gains and losses arising on the settlement of monetary items and on translating monetary items at the closing of the fiscal year
using year-end exchange rate are recognised within the financial results in the statement of comprehensive income, with the exception
of capitalized amounts.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.3.3 <U>Group entities&#8217; translation
into functional currency</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The results and financial position of
subsidiaries, joint ventures and associates whose functional currency is the Argentine Peso, a currency of a hyperinflationary economy,
are translated into the Company&#8217;s functional currency using the year-end exchange rate. The results generated by the application
of IAS 29 adjustment mechanism for hyperinflationary economies, on the opening equity measured in functional currency are recognised under
&#8220;Other comprehensive income&#8221;.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.3.4 <U>Presentation of Other comprehensive
income within the Company&#8217;s equity</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company classifies and directly accumulates
within equity, in the retained earnings line, the results generated by the application of the IAS 29 adjustment mechanism on the opening
retained earnings, while the remaining results are presented in a separate component of equity and accumulated until the disposal of the
foreign operation in &#8220;Other comprehensive income&#8221;, in accordance with IAS 21.</P>


<!-- Field: Page; Sequence: 55 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.4
Principles of consolidation and equity accounting</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0">4.4.1 <U>Subsidiaries</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Subsidiaries are all entities over which
the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement
with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are
fully consolidated from the date on which control is transferred to the Group. The Group ceases consolidation of entities from the date
that control ceases.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The acquisition method of accounting is
used to account for business combinations by the Group (see Note 4.4.5 below).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Intercompany transactions, balances and
unrealized gains on transactions between Group entities are eliminated. Unrealized losses are also eliminated unless the transaction provides
evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed when necessary to ensure consistency
with the policies adopted by the Group.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Non-controlling interests in the results
and equity of subsidiaries are shown separately in the Consolidated Statement of Comprehensive Income and Consolidated Statement of Changes
in Equity respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.4.2 <U>Associates </U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Associates are all entities over which
the group has significant influence but not control or joint control. This is generally the case where the Group holds between 20% and
50% of the voting rights. Investments in associates are accounted for using the equity method of accounting (see Note 4.4.4 below), after
initially being recognised at cost.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 6pt; text-align: justify">4.4.3 <U>Joint arrangements</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Investments in joint arrangements are
classified as either joint operations or joint ventures, according to IFRS 11, depending on the contractual rights and obligations of
each investor. The Company participates both joint operations and joint ventures.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><I>4.4.3.1 Joint operations</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes its direct right
to the assets, liabilities, incomes and expenses of joint operations and its share of any jointly held or incurred assets, liabilities,
incomes and expenses. These have been incorporated in the Consolidated Financial Statements under the appropriate headings.</P>


<!-- Field: Page; Sequence: 56 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><I>4.4.3.2 Joint ventures</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Interests in joint ventures are accounted
for using the equity method, after initially being recognised at cost (see Note 4.4.4 below).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 6pt; text-align: justify">4.4.4 <U>Equity Method</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under the equity method of accounting,
the investments are initially recognised at cost and adjusted to recognize the Group&#8217;s share of the post-acquisition profits or
losses and in other comprehensive income of the investee.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On acquisition of the investment, any
difference between the cost of the investment and the entity&#8217;s share of the net fair value of the investee&#8217;s identifiable
assets and liabilities is accounted for as follows: (i) goodwill relating to an associate or a joint venture is included in the carrying
amount of the investment and is not amortised, and (ii) any excess of the net fair value over the cost is included as income in the determination
of the entity&#8217;s share of the associate or joint venture&#8217;s profit or loss.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Dividends received or receivable from
associates and joint ventures are recognised as a reduction in the carrying amount of the investment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">When the Group&#8217;s share of losses
in an equity-accounted investment equals or exceeds its interest in the entity, together with any long-term interests that, in substance,
form part of the net investment, the Group does not recognize further losses, unless it has incurred obligations or made payments on behalf
of the other entity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Unrealized gains on transactions between
the Group and its associates and joint ventures are eliminated to the extent of the group&#8217;s interest in these entities. Unrealized
losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of
equity accounted investees have been changed where necessary to ensure consistency with the policies adopted by the Group.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The carrying amount of equity accounted
investments is tested for impairment in accordance with the policy described in Note 4.9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.4.5 <U>Business combinations</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The acquisition method of accounting is
used to account for all business combinations, regardless of whether equity instruments or other assets are acquired. The consideration
transferred for the acquisitions comprises:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify">the fair value of the transferred assets,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">the liabilities incurred to the former owners of the acquired business,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">the equity interests issued by the group,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD STYLE="text-align: justify">the fair value of any asset or liability resulting from a contingent consideration arrangement, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(v)</TD><TD STYLE="text-align: justify">the fair value of any pre-existing equity interest in the subsidiary.</TD></TR></TABLE>


<!-- Field: Page; Sequence: 57 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Identifiable assets acquired and liabilities
and contingent liabilities assumed in a business combination are measured initially at their fair values in the acquisition date. The
group recognises any non-controlling interest in the acquired entity on an acquisition-by-acquisition basis at the non-controlling interest&#8217;s
proportionate share of the acquired entity&#8217;s net identifiable assets.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Acquisition-related costs are expensed
as incurred. The value of the goodwill represents the excess of: i) the consideration transferred, ii) the amount of any non-controlling
interest in the acquired entity, and iii) the acquisition-date fair value of any previous equity interest in the acquired entity, over
the fair value of the net identifiable assets acquired is recorded as goodwill. If the fair value of the net identifiable assets of the
business acquired exceeds those amounts, the gain on bargain purchase is recognised directly in profit or loss.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Contingent consideration is classified
either as equity or a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value with
changes in fair value recognised in profit or loss.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If the business combination is achieved
in stages, the acquisition date carrying value of the acquirer&#8217;s previously held equity interest in the acquiree is remeasured to
fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognised in profit or loss.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Group has up to 12 months to finalize
the accounting for a business combination. Where the accounting for a business combination is not complete by the end of the year in which
the business combination occurred, the Group reports provisional amounts.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.4.6 <U>Changes in ownership interests</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Group treats transactions with non-controlling
interests that do not result in a loss of control as transactions with equity owners of the group. A change in ownership interest results
in an adjustment between the carrying amounts of the controlling and non-controlling interests to reflect their relative interests in
the subsidiary. Any difference between the amount of the adjustment to non-controlling interests and any consideration paid or received
is recognised in &#8220;Other reserves&#8221; within equity attributable to owners of the Company.</P>


<!-- Field: Page; Sequence: 58 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">When the Group ceases to consolidate or
equity account for an investment because of a loss of control, joint control or significant influence, any retained interest in the entity
is remeasured to its fair value with the change in carrying amount recognised in profit or loss. This fair value becomes the initial carrying
amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition,
any amounts previously recognised in other comprehensive income in respect of that entity are accounted for as if the Group had directly
disposed of the related assets or liabilities, this means that amounts previously recognised in other comprehensive income are reclassified
to profit or loss.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If the ownership interest in a joint venture
or an associate is reduced but joint control or significant influence is retained, only a proportionate share of the amounts previously
recognised in other comprehensive income are reclassified to profit or loss where appropriate.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.5
Segment reporting</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Operating segments are reported in a manner
consistent with the internal reporting provided to the Executive committee.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Executive Committee, is the highest
decision-making authority, is the person responsible for allocating resources and setting the performance of the entity&#8217;s operating
segments and has been identified as the body executing the Company&#8217;s strategic decisions.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In segmentation the Company considers
transactions with third parties and intercompany operations, which are done on internal transfer pricing based on market prices for each
product.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.6
Property, plant and equipment</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Property, Plant and Equipment is measured
following the cost model. It is recognised at acquisition cost less depreciation a less any accumulated impairment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Subsequent costs are included in the asset&#8217;s
carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with
the item will flow to the group and the cost of the item can be measured reliably. The carrying amount of any component accounted for
as a separate asset is derecognised when replaced. All other repairs and maintenance are charged to profit or loss during the reporting
period in which they are incurred.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Works in progress are valued according
to their degree of progress. The cost of work in progress whose construction will extend over time includes, if applicable, the computation
of financial costs accrued on loans granted by third parties and other pre-production costs. Revenues and costs arising from the sale
of elements obtained during the start-up process are charged to the profit and loss of the period.</P>


<!-- Field: Page; Sequence: 59 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Assets&#8217; residual values and useful
lives are reviewed, and adjusted if appropriate, at the end of each year. An asset&#8217;s carrying amount is written down immediately
to its recoverable amount if the asset's carrying amount is greater than its estimated recoverable amount.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Gains and losses on disposals are determined
by comparing the sale price with the carrying amount, stated in terms of the measuring unit current at the disposal date.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 0 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.6.1
<U>Depreciation methods and useful lives</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The group depreciates productive wells,
machinery and camps in the oil and gas production areas according to the units of production method, by applying the ratio of oil and
gas produced to estimated proved developed oil and gas reserves. The acquisition cost of property with proved reserves is depreciated
by applying the ratio of oil and gas produced to estimated proved oil and gas reserves. Acquisition costs related to properties with unproved
reserves is valued at cost with recoverability periodically assessed on the basis of geological and engineering estimates of possible
and probable reserves that are expected to be proved over the life of each concession.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Machinery and generation equipment (including
any significant identifiable component) are depreciated under the unit of production method.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The group&acute;s remaining items of
property, plant and equipment (including any significant identifiable component) are depreciated by the straight-line method based on
estimated useful lives, as detailed below:&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify; width: 50%">Buildings:&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 50%">50 years</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Vehicles:&nbsp;</TD>
    <TD STYLE="text-align: justify">3 - 5 years</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Furniture, fittings and communication equipment:&nbsp;</TD>
    <TD STYLE="text-align: justify">5 years</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Computer equipment and software:&nbsp;</TD>
    <TD STYLE="text-align: justify">3 years</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Tools:&nbsp;</TD>
    <TD STYLE="text-align: justify">10 years</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Equipment and machinery:&nbsp;</TD>
    <TD STYLE="text-align: justify">10 - 30 years</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If appropriate, the depreciation method
is reviewed and adjusted at the end of each year.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.6.2 <U>Asset retirement obligations
and wind turbines decommissioning</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Estimated future costs of asset retirement
obligations on well abandonment in oil and gas areas and wind turbines decommissioning in wind farms, discounted at a risk adjusted rate,
are capitalized in the cost of the assets and depreciated using the units of production method. Additionally, a liability at the estimated
value of the discounted amounts payable is recognised. Changes in the measurement of asset retirement obligations that result from changes
in the estimated timing, amount of the outflow of resources required to settle the obligation, or the discount rate, are added to, or
deducted from, the cost of the related asset. If a decrease in the liability exceeds the carrying amount of the asset, the excess is recognised
immediately in profit or loss.</P>


<!-- Field: Page; Sequence: 60 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.7
Intangible assets</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.7.1
<U>Goodwill</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Goodwill is the result of the acquisition
of subsidiaries. Goodwill represents the excess of the acquisition cost over the fair value of the equity interest in the acquired entity
held by the company on the net identifiable assets acquired on the date of acquisition.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For impairment testing, goodwill acquired
in a business combination is allocated from the acquisition date to each of the CGU or group of CGU that are expected to benefit from
the synergies of the combination. Each unit or group of units that goodwill is allocated represents the lowest level within the entity
at which the goodwill is monitored for internal management purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.7.2
<U>Concession arrangements</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Concession arrangements corresponding
to hydroelectric generation plants Diamante and Nihuiles are not under the scope of the guidelines of IFRIC 12 &#8220;Service Concession
Arrangements&#8221;.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">These concession agreements meet the criteria
set forth by the IFRS&acute; Accounting Standards for capitalization less depreciation a less any accumulated impairment. They are amortized
following the straight-line method based on useful life, which corresponds to the life of each concession agreement.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.7.3 <U>Identified intangible assets
in acquired investments</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Corresponds to intangible assets identified
in the moment of the acquisition of companies. Identified assets meet the criteria established in IFRS&acute; Accounting Standards for
capitalization less depreciation and less any accumulated impairment. They are amortized by the straight-line method according to the
useful life of each asset, considering the estimated way in which the benefits produced by the asset will be consumed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.7.4 <U>Digital Assets</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company accounts for digital assets
(cryptocurrencies) as intangible assets with indefinite useful life under the cost model. They are recognised at acquisition cost less
any accumulated impairment.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.8
Assets for oil and gas exploration</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company uses the successful efforts
method of accounting for its oil and gas exploration and production activities. This method involves the capitalization of: (i) the cost
of acquiring properties in oil and gas exploration and production areas; (ii) the cost of drilling and equipping exploratory wells that
result in the discovery of commercially recoverable reserves; (iii) the cost of drilling and equipping development wells, and (iv) the
estimated asset retirement obligations (see Note 4.6.2).</P>


<!-- Field: Page; Sequence: 61 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">According to the successful efforts method
of accounting, exploration costs (including geological and geophysical costs), excluding exploratory well costs, are expensed during the
period in which they are incurred. Drilling costs of exploratory wells are capitalized until it is determined that proved reserves exists
and they justify the commercial development. If reserves are not found, such drilling costs are expensed. Occasionally, an exploratory
well may determine the existence of oil and gas reserves but they cannot be classified as proved when drilling is complete. In those cases,
such costs continue to be capitalized insofar as the well has allowed determining the existence of sufficient reserves to warrant its
completion as a production well and the Company is making sufficient progress in evaluating the economic and operating feasibility of
the project.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.9
Impairment of non-financial long-lived assets</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Intangible assets that have an indefinite
useful life and goodwill are not subject to amortization and are tested annually for impairment, or more frequently if events or changes
in circumstances indicate that they might be impaired.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The remaining non-financial long-lived
assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.
An impairment loss is recognised for the amount by which the asset&#8217;s carrying amount exceeds its recoverable amount. The recoverable
amount is the higher of an asset&#8217;s fair value less costs of disposal and value in use. For the purpose of assessing impairment,
assets are grouped at the lowest levels for which there are separately identifiable cash flows which are largely independent of the cash
inflows from other assets or groups of assets (CGU).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Non-financial long-lived assets, other
than goodwill, that have been impaired are reviewed for possible reversal of the impairment at the end of each reporting period.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.10
Financial assets</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.10.1
<U>Classification</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Based on the entity&#8217;s business model
for managing the financial assets and the contractual cash flow characteristics, the Group classifies its financial assets in the following
categories:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(i)</TD><TD STYLE="text-align: justify">those that are subsequently measured at fair value through profit or loss, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(ii)</TD><TD STYLE="text-align: justify">those that are subsequently measured at amortised cost.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The company reclassifies financial assets
when and only when it changes its business model for managing those financial assets.</P>


<!-- Field: Page; Sequence: 62 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.10.2
<U>Recognition and derecognition</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The conventional purchases and sales of
financial assets are accounted for at settlement date. Financial assets are derecognised when contractual rights to the cash flows from
the financial assets have expired or been transferred, and the Company has substantially transferred all risks and rewards of ownership
of the asset.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.10.3
<U>Measurement</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">At initial recognition, the Group measures
a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs
that are directly attributable to the acquisition of the financial asset.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">A gain or loss on a debt investment that
is subsequently measured at fair value and is not part of a hedging relationship is recognised in profit or loss and disclosed in &#8220;Changes
in the fair value of financial instruments&#8221; within &#8220;Other financial Results. A gain or loss on a debt investment that is subsequently
measured at amortized cost and is not part of a hedging relationship is recognised in profit or loss when the financial asset is derecognised
or impaired and through the amortization process using the effective interest rate method.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Group subsequently measures equity
investments at fair value through profit or loss. Dividends from such investments continue to be recognised in profit or loss as long
as they represent a return on investment.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">4.10.4</TD><TD><U>Impairment of financial assets</U></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company assesses the expected credit
losses related to its financial instruments at amortized cost and financial instruments at fair value through other comprehensive income,
if applicable.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company applies the simplified approach
allowed by IFRS 9 to measure expected credit losses for trade receivables and other receivables with similar risk characteristics. For
this purpose, receivables are grouped by business segment and based on shared credit risk characteristics and expected credit losses are
determined based on rates calculated for different ranges of default days from the due date.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The expected loss rates are based on the
sales collection profiles over a period of 24 months before the end of each year, considering historical credit losses experienced within
this period that are adjusted, if applicable, to reflect forward-looking information that could affect the ability of customers to settle
the receivables.</P>


<!-- Field: Page; Sequence: 63 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.10.5
<U>Offsetting of financial instruments</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Financial assets and liabilities are offset,
and the net amount reported in the consolidated statements of financial position, when there is a legally enforceable right to offset
the recognised amounts, and there is an intention to settle on a net basis, or realize the asset and settle the liability simultaneously.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.11
Trade and other receivables</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Trade receivables and other receivables
are recognised at fair value and subsequently measured at amortized cost, using the effective interest method, less provision for impairment,
if applicable.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes provisions for
impairment on trade and other receivables based on expected credit loss model described in Note 4.10.4. Trade receivables are written
off when there is no reasonable expectation of recovery. The Company considers the following default indicators: i) voluntary reorganization
proceedings, bankruptcy or initiation of judicial demands; ii) insolvency implying a high impossibility of collection and iii) past due
balances greater than 90 days.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Where applicable, provisions for impairment
on tax credits have been recognised based on estimates on their uncollectibility within their statutory limitation period, taking into
consideration the Company&#8217;s current business plans.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.12
Derivative financial instruments and hedging account</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Derivative financial instruments are measured
at fair value, determined as the amount of cash to be collected or paid to settle the instrument as of the measurement date, net of any
prepayment collected or paid. Fair value of derivative financial instruments traded in active markets is disclosed based on their quoted
market prices and fair value of instruments that are not traded in active markets is determined using different valuation techniques.
Subsequent accounting of changes in fair value depends on whether the derivative is designated as a hedging instrument and, if so, the
nature of the item being hedged.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company has not formally designated
financial instruments as hedging instruments.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.13
Inventories</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">This line item includes crude oil stock,
raw materials, work in progress and finished products relating to Petrochemicals and Oil and Gas business segments as well as materials
and spare parts relating to the Generation business segment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Inventories are stated at the lower of
cost or net realizable value. Cost is determined using the weighted average price method. The cost of inventories includes expenditure
incurred in purchases and production and other necessary costs to bring them to their existing location and condition. In case of manufactured
products and production in process, the cost includes a portion of indirect production costs, excluding any idle capacity (slack).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The net realizable value is the estimated
selling price in the ordinary course of business less the estimated cost of completion and the estimated costs to make the sale.</P>


<!-- Field: Page; Sequence: 64 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The assessment of the recoverable value
of these assets is made at each reporting date, and the resulting loss is recognised in the statement of income when the inventories are
overstated.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company has classified materials and
spare parts into current and non-current, depending on the timing in which they are expected to be used for replacement or improvement
on existing assets. The portion of materials and spare parts for maintenance or improvements on existing assets, is exposed under the
heading &#8220;Property, plant and equipment&#8221;.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.14
Non-current assets (or disposal group) held for sale and discontinued operations</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Non-current assets are classified as held
for sale if it is considered highly probable that their amount will be recovered through a sale transaction. They are measured at the
lower of their carrying amount and fair value less costs to sell, except deferred tax assets, assets arising from employee benefits, financial
assets and investment property that are carried at fair value and contractual rights from insurance contracts, which are specifically
exempt from this requirement.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Non-current assets (including those that
are part of a disposal group) are not depreciated or amortized while they are classified as held for sale. Interest and other expenses
attributable to the liabilities of a disposal group classified as held for sale continue to be recognised.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Non-current assets or group of assets
classified as held for sale are presented separately from the other assets in the balance sheet. The liabilities of a disposal group classified
as held for sale are presented separately from other liabilities in the balance sheet. These assets and liabilities are not offset.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If it is a discontinued operation, that
is, an item which has been disposed of or classified as held for sale; and (i) it represents a significant business line or geographic
area which may be considered separate from the rest; (ii) it is part of a single coordinated plan to dispose of a significant business
line or operating geographic area which may be deemed separate from the rest; or (iii) it is a subsidiary entity acquired solely for the
purpose of reselling it; a single amount is disclosed in the statement of comprehensive income, which shows results of discontinued operations,
net of tax, including the result for the valuation at fair value less cost of sales or asset disposal costs, if applicable.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.15
Cash and cash equivalents</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For the purpose of presentation in the
Consolidated Statement of Cash Flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions,
other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts
of cash and which are subject to an insignificant risk of changes in value. If any, bank overdrafts are shown within borrowings in current
liabilities, this means, there are not disclosed under Cash and cash equivalents in the Consolidated Statement of Cash Flows since they
are not part of the Company&#8217;s cash management.</P>


<!-- Field: Page; Sequence: 65 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.16
Shareholder&acute;s equity</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Equity&#8217;s movements accounted for
in accordance with the pertinent decisions of shareholders' meetings and legal or regulatory standards.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">All equity accounts have been restated
in terms of the measuring unit current as of December 31, 2018, with the exception of Share capital and Treasury shares, which represent
the subscribed and paid in, and the outstanding treasury capital, respectively. The adjustment resulting from its restatement as of December
31, 2018 is disclosed in the Comprehensive share capital adjustment and Comprehensive treasury shares adjustment lines, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As from the change in functional currency,
on January 1, 2019 the Company discontinued the preparation and presentation of financial statements under IAS 29, and has considered
equity figures expressed in terms of the measuring unit current as of December 31, 2018 as the basis for subsequent financial statements&#8217;
amounts.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.16.1
<U>Share capital</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Share capital represents the capital issued,
composed of the contributions that were committed and/or made by the shareholders and represented by shares that comprise outstanding
shares at nominal value.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.16.2
<U>Share premium</U></P>

<P STYLE="font: 10pt/116% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It includes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(i)</TD><TD STYLE="text-align: justify">The portion of the collected price exceeding the face value of the shares issued by the Company, net of
absorbed accumulated losses.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(ii)</TD><TD STYLE="text-align: justify">The difference between the fair value of the consideration paid/collected and the accounting value of
the equity interest in the subsidiary acquired/sold/diluted which does not represent a loss of control or significant influence.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(iii)</TD><TD STYLE="text-align: justify">The difference between the proportional equity value registered before the merger of the subsidiary and
the value resulting from applying to the subsidiary&#8217;s merged equity interest, the new ownership share resulting from the exchange
relationship.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.16.3
<U>Legal reserve</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In accordance with the LGS, 5% of the
profit arising from the statement of income for the year, prior years' adjustments, the translation differences which are directly accumulated
in Retained earnings (see Note 4.3.4), the amounts transferred from other comprehensive income and prior years' accumulated losses, must
be appropriated to a legal reserve until such reserve equals 20% of the Company&#8217;s share capital and the related adjustment of share
capital. When for any reason, the amount of this reserve is reduced, dividends may not be distributed, until such amount is reached.</P>


<!-- Field: Page; Sequence: 66 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.16.4
<U>Voluntary reserve</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">This reserve results from an allocation
made by the Shareholders&#8217; Meeting, whereby a specific amount is set aside to cover for the funding needs of projects and situations
associated with Company policies.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.16.5
<U>Other reserves</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It includes the result of operations with
non-controlling interest that do not result in a loss of control and reserves for stock compensation plans.</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.16.6
<U>Retained earnings</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Comprise accumulated profits or losses
without a specific appropriation; positive earnings can be distributable by the decision of Shareholders' meeting, as long as they are
not subject to legal restrictions. Earnings comprise current earnings, prior years' earnings that were not distributed, translation differences
which are directly accumulated in retained earnings pursuant to the policy described in Note 4.3.4, the amounts transferred from other
comprehensive income and prior years' adjustments, according to IFRS&acute; Acoounting Standards.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">General Resolution No. 593/11 issued by
the CNV provided that Shareholders in the Meetings at which they should decide upon the approval of financial statements in which the
Retained earnings account has a positive balance, should adopt an express resolution as to the allocation of such balance, whether to
dividend distribution, capitalization, setting up of reserves or a combination of these. The Company&#8217;s Shareholders have complied
with these requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.16.7
<U>Other comprehensive income</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It includes gains and losses from the
remeasurement process of foreign operations and the translation differences which are not classified and directly accumulated in retained
earnings pursuant to the policy described in Note 4.3.4 and actuarial gains and losses for defined benefit plans and the related tax effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.16.8
<U>Dividends distribution</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Dividend distribution to Company shareholders
is recognised as a liability in the year in which the dividends are approved by the Shareholders' Meeting. The distribution of dividends
is made based on the Company&#8217;s Stand-Alone Financial Statements, which are presented in pesos, the legal currency in Argentina,
pursuant to regulatory requirements.</P>


<!-- Field: Page; Sequence: 67 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.17
Compensation plans</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following guidelines under IFRS 2
have been taken into consideration for the registration of stock-based compensations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.17.1
<U>Compensations payable in cash</U>:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Compensation Agreements &#8211; Senior
Management: fixed compensation and annual, variable and contingent long-term compensation established based on the Company&#8217;s annual
market value appreciation, with a payment cap calculated over the Company&#8217;s adjusted operating income. Any analogous compensation
paid to senior managers is deducted from the compensation amount.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The reasonable value of the received services
is measured through a share appreciation estimate using the Black-Scholes-Merton financial valuation model. The fair value of the amount
payable is accrued and acknowledged as an expense, with the corresponding increase in liabilities. Liabilities are revalued on each balance
sheet date. Any change in the fair value of liabilities is disclosed under profit or loss.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.17.2 <U>Compensations payable in shares</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Stock compensation plan by which certain
officers and other key staff receive a certain number of the Company&#8217;s shares. The Company&#8217;s Board of Directors approves the
market acquisition of own shares as a means of implementing the Plan (see Note 13.1.2).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The number of shares for each eligible
employee is calculated as from a percentage over the total annual remuneration, including the bonus, divided by the weighted average price,
in pesos, of the Company&#8217;s share and ADR for the same period; with one-third vesting each year, which will be awarded together with
the payroll for April of the year following the vesting date, with the requirement that the employment relationship continues at least
until each vesting date. The fair value of the received services is measured at the fair value of the shares at the time of granting and
is disclosed during the vesting period, together with the corresponding increase in equity.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.18
Trade payables and other payables</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Trade payables and other payables are
recognised initially at fair value and subsequently measured at amortized cost using the effective interest method.</P>


<!-- Field: Page; Sequence: 68 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.19
Borrowings</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Borrowings are recognised initially at
fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortized cost. Any difference between the proceeds
(net of transaction costs) and the redemption amount is recognised in profit or loss over the period of the borrowings, using the effective
interest method.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Borrowings are removed from the statement
of financial position when the obligation specified in the contract is discharged, canceled or expired. The difference between the carrying
amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash
assets transferred or liabilities assumed, is recognised in profit or loss as other income or finance costs.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If a debt contract is amended or swapped,
the Company records the cancellation of the original liability and discloses a new financial liability if the new conditions are substantially
different from the original ones.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Borrowings are classified as current liabilities
unless the group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.19.1
<U>Borrowing costs</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">General and specific borrowing costs that
are directly attributable to the acquisition, construction or assembly of a qualifying asset are capitalized during the period of time
that is required to complete and prepare the asset for its intended use. Qualifying assets are assets that necessarily take a substantial
period of time to get ready for their intended use.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Investment income earned on the temporary
investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Other borrowing costs are recorded in
profit or loss for the period in which they are incurred.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.20
Employee benefits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.20.1
<U>Short-term obligations</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Payroll liabilities, including non-monetary
benefits and accumulated sick leave expected to be settled in full within 12 months after the end of the reporting period in which the
employees provide the associated service are recognised for the amount expected to be paid when the liabilities are settled. The liabilities
are disclosed as Salaries and social security payable in the consolidated statement of financial position.</P>


<!-- Field: Page; Sequence: 69 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->63<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.20.2
<U>Defined benefit plans</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Labor costs liabilities are accrued in
the periods in which the employees provide the services that trigger the consideration.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, the Company operates several
defined benefit plans. Defined benefit plans define an amount of pension benefit that an employee will receive on retirement, depending
on one or more factors, such as age, years of service and compensation. In accordance with conditions established in each plan, the benefit
may consist in a single payment, or in making complementary payments to those made by the pension system.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The defined benefit liability recognised
in the financial statement balance sheet, at the end of the reporting period, is the present value of the defined benefit obligation net
of the fair value of the plan assets, when applicable. The defined benefit obligation is calculated annually by independent actuaries
using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated
future cash outflows using future actuarial assumptions about demographic and financial variables that affect the determination of the
amount of such benefits.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Actuarial gains and losses from experience
adjustments and changes in actuarial assumptions, are recognised in other comprehensive income (loss) in the period in which they arise
and past service costs are recognised immediately in the statement of income (loss).</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.21
Provisions, contingent liabilities and contingent assets</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Provisions are recognised when the group
has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required
to settle that obligation, and the amount can be reliably estimated. Provisions are not recognised for future operating losses.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Provisions are measured at the present
value of the expenditures expected to be required to settle the present obligation, taking into account the best available information
as of the date of the Consolidated Financial Statements based on assumptions and methods considered appropriate and taking into account
the opinion of Company&#8217;s legal advisors. As additional information becomes available to the Company, estimates are revised and adjusted
periodically. The discount rate used to determine the present value reflects current market assessments of the time value of money and
the risks specific to the liability, as of the date of the financial statements. The increase in the provision due to the passage of time
is recognised within other financial results.</P>


<!-- Field: Page; Sequence: 70 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->64<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Contingent liabilities are possible obligations
that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of uncertain future events
not wholly within the control of the entity; or present obligations that arise from past events but it is not probable that an outflow
of resources will be required to its settlement; or whose amount cannot be measured with sufficient reliability.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Contingent liabilities are not recognised.
The Company discloses in notes to the Consolidated Financial Statements a brief description of the nature of material contingent liabilities.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Contingent liabilities, whose possibility
of any outflow in settlement is remote, are not disclosed unless they involve guarantees, in which case the nature of the guarantee is
disclosed.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Contingent assets are possible assets
that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of uncertain future events
not wholly within the control of the entity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Contingent assets are not recognised.
The Company discloses in notes to the Consolidated Financial Statements a brief description of the nature of material contingent assets,
where the related inflows of economic benefits are estimated to be probable.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.22
Revenue from contracts with customers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.22.1
<U>Generation segment</U>:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>4.22.1.1 Revenues from sales to the
spot market (SE Resolution N&deg;869/23) </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes revenues from
i) power availability on a monthly basis as the different power plants are available to generate; ii) power generated, operated energy
and power generated in peak hours, when the delivery of energy is effective, based on the price applicable depending on the technology
of each plant. Revenues are not adjusted for the effect of financing components as sales are made with an average credit term of 42 days,
which is consistent with market practice.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>4.22.1.2 Revenues from supply agreements
with CAMMESA (SE Resolution No. 220/07, SE Resolution No. 21/16, SE Resolution No. 287/17 and Renovar Programs)</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes revenues from supply
contracts with CAMMESA for i) power availability, when applicable, on a monthly basis, as the different power plants are available to
generate and ii) energy generated when the delivery of energy is effective, based on the price established in each contract. Revenues
are not adjusted for the effect of financing components as sales are made with an average credit term of 42 days, which is consistent
with market practice.</P>


<!-- Field: Page; Sequence: 71 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->65<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>4.22.1.3 Revenues from sales contracts
with large users within the MAT</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes revenues from energy
plus sales and renewable energy when the delivery of energy is effective based on the price established in each contract. Revenues are
not adjusted for the effect of financing components as sales are made with an average credit term of 30 days, which is consistent with
market practice.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.22.2
<U>Oil and gas segment</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes revenues from the
sale of oil and gas, to third parties and intersegment, when control of the product is transferred, that is, at the output of each area,
when the oil and gas is delivered to the carrier and to the extent there is no unfulfilled obligation that could affect the acceptance
of the product by the client. In all cases the transport of the gas is in charge of the client. Revenues from these sales are recognised
based on the price by product specified in each contract or agreement to the extent that it is highly probable that a significant reversal
will not occur.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Revenues are not adjusted for the effect
of financing components as sales are made with an average credit term not exceeding 45 days, which is consistent with market practice.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.22.3 <U>Petrochemical segment</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes revenues from the
sale of petrochemical products, whether in local or foreign markets, when the control of the product is transferred, that is, when the
products are delivered to the client and there is no unfulfilled obligation that could affect the acceptance of the product by the client.
The delivery, as established in each contract, is occurs:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">(i)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">when the products are dispatched and transported by and in charge of the client, or,</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">(ii)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">when the products have been dispatched by the Company to a specific location, the obsolescence
risks and loss have been transferred to the client, and the client has accepted the products according to the sale contract, the acceptance
provisions have expired, or when the Company has objective evidence that all acceptance criteria have been met.</TD>
</TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Revenues from these sales are recognised
based on the price specified in each contract, to the extent that it is highly probable that a significant reversal will not occur. Revenues
are not adjusted for the effect of financing components as sales are made with an average credit term not exceeding 34 days, which is
consistent with market practice.</P>


<!-- Field: Page; Sequence: 72 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.22.4 <U>Holding and others segment</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes revenues from contracts
with customers in relation to advisory services to related companies as services are rendered based on the price established in each agreement.
Revenues are not adjusted for the effect of financing components, as sales are made with an average credit term of 30 days, which is consistent
with market practice.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.23
Other Income</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.23.1
<U>Government grants</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Grants from the government are recognised
at their fair value where there is a reasonable assurance that the grant will be received and the Group will comply with all attached
conditions. The group did not benefit directly from any other forms of government assistance.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes revenues from natural
gas production promotion or stimulus programs upon the actual delivery of gas and in accordance with the price established in the applicable
regulation, only inasmuch as it is highly probable that there will be no significant reversal and the consideration is likely to be received,
that is, to the extent that the procedure established by the Government is formally complied with.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The recognition of revenues associated
with Natural Gas Production Promotion or Stimulus Plans (see Note 2.2.4.1) falls within the scope of IAS 20 as it involves a compensation
as a result of the maintenance or increase in the committed production volume.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Revenues from natural gas production or
stimulus programs are disclosed under other operating income in the consolidated statement of comprehensive income. Furthermore, the fiscal
costs of the above-mentioned programs are disclosed under Other operating expenses in the consolidated statement of comprehensive income.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 31.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.23.2
<U>Interest</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Interest income from financial assets
at fair value through profit or loss is included into the result of changes in the fair value of those assets. Interest income from financial
assets at amortized are recognised in the statement of income.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Interest income is calculated by using
the effective interest rate to the gross carrying amount of a financial asset (without considering impairment provision), except for impaired
financial assets, that is calculated by applying the effective interest rate to the carrying amount net of impairment provision.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Commercial interest corresponding to late
payment surcharges in the cancellation of sales receivables is disclosed under Other operating income as it provides relevant information
on the business&#8217; operations and operating flows.</P>


<!-- Field: Page; Sequence: 73 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->67<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.23.3
<U>Dividends</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Dividends income are received from financial
assets measured at fair value through profit or loss. Dividends are recognised as revenue when the right to receive payment has been established.
This applies even if they are paid out of pre-acquisition profits.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.24
Income tax</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The tax expenses for the year include
current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other
comprehensive income or directly in equity, in which case, the tax is also recognised in other comprehensive income or directly in equity,
respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The current income tax charge is calculated
on the basis of the tax laws enacted or substantively enacted at the balance sheet. Management periodically evaluates positions taken
in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions,
where appropriate, on the basis of amounts expected to be paid to the tax authorities.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Deferred income tax is recognised, using
the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts in the Consolidated
Financial Statements. However, deferred tax liabilities are not recognised if they come from the initial recognition of goodwill; or if
it arises from initial recognition of an asset or liability in a transaction other than a business combination that at time of the transaction
affects neither accounting nor taxable profit or loss, and does not give rise to equal taxable and deductible temporary differences.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Deferred income tax assets are recognised
only to the extent that it is probable that future taxable profit will be available and can be used against temporary differences.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Deferred income tax is provided on temporary
differences from investments in subsidiaries, joint ventures and associates, except for deferred income tax liability where the timing
of the reversal of the temporary difference is controlled by the group and it is probable that the temporary difference will not reverse
in the foreseeable future.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Deferred assets or liabilities are recognised
on account of gains or losses from fiscal tax inflation which, pursuant to Law No. 27,541 and Law No 27,701, are deferred and accounted
for in subsequent fiscal periods (see Note 2.6.1).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Deferred income tax assets and liabilities
are offset when there is a legally enforceable right to offset the recognised amounts and when the deferred income tax assets and liabilities
relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities where there
is an intention to settle the balances on a net basis.</P>


<!-- Field: Page; Sequence: 74 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->68<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Current and deferred tax assets and liabilities
have not been discounted and are stated at their nominal value.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Income tax rates prevailing at year-end
in Argentina (see Note 2.6.1), Ecuador, Bolivia and Uruguay are 35%, 25%, 25% and 25%, respectively. Additionally, a 3% surcharge is added
to Ecuador&#8217;s income tax when the company&#8217;s shareholder residing in Ecuador is an entity established in a jurisdiction considered
a tax haven under Ecuadorian laws.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In Bolivia, payment of Bolivian-source
income to beneficiaries outside Bolivia is levied with a 12.5% withholding income tax.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Furthermore, and pursuant to the last
tax reform passed in Ecuador and effective as from January 1, 2020, dividends distributed to foreign shareholders will be subject to a
10% withholding.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In Uruguay, effective from January 1,
2023, the Income Tax on Economic Activities (&#8220;IRAE&#8221;) includes as Uruguayan-source certain passive income derived by entities
making up non-qualified multinational groups.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Deferred tax assets and liabilities are
measured using the tax rates expected to apply in the period when the asset is realized or the liability is settled.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, receivables have been disclosed
on account of the application of the minimum presumed income tax prior to its abrogation as from January 1, 2019, which are computable
as an advance payment of income tax in any of the following ten years.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s management evaluates
the recoverability of the recorded receivables at the closing of each fiscal year, and allowances are created as long as it is estimated
that the computable amounts will not be recoverable within the statutory limitation period taking into consideration the Company&#8217;s
current business plans.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">4.25
Leases</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In leases where the Company is a lessee
(Note 19.1), a right-of-use asset and a lease liability are recognised on the date on which the underlying asset is available for use
by the Company.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">At the commencement date the lease liability
is measured at the present value of the payments that are not paid at that date, including:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">fixed payments, less any lease incentive receivable</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">variable lease payments depending on an index or rate</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">amounts that the Company expects to pay under residual value guarantee</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">exercise price of a purchase option (if it is reasonably certain to exercise that option), and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">penalty payments for terminating the lease (if that option will be exercised).</TD></TR></TABLE>


<!-- Field: Page; Sequence: 75 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->69<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Lease payments are discounted using the
Company&#8217;s incremental borrowing rate, which is the rate the Company would have to pay to borrow over a similar term, security and
conditions, the funds necessary to acquire an asset of a similar value to the right-of-use asset in a similar economic environment, or
by using the interest rate implicit in the lease, if that rate can be readily determined.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The lease liability is disclosed in &#8220;Trade
and other payables&#8221;. Each lease payment is apportioned between the principal and the financial cost. The financial cost is charged
to income over the term of the lease to produce a constant periodic interest rate on the remaining liability balance for each period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Right-of-use assets are measured at cost,
which comprises:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">the amount of the initial measurement of the lease liability</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">any lease payment made at or before the commencement date, less any lease incentive received</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">any initial direct cost, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">an estimate of costs to be incurred for decommissioning or restoring the underlying asset pursuant to
the terms and conditions of the lease</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">Right-of-use assets are depreciated using the straight-line method over the asset&#8217;s useful life
or, if shorter, during the lease term.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes lease payments
associated with short-term leases (up to 12 months) and leases for which the underlying asset is of low value (IT equipment and office
supplies) as an expense using the straight-line method over the lease term.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Leases in which the Company, as a lessor,
has transferred all risks and rewards incidental to ownership of the underlying asset are classified as financial leases (Note 19.2.1).
Financial leases are recognised at the commencement date at the fair value of the leased property or, if lower, the present value of the
minimum lease payments to be received. The corresponding lease rights, net of financial charges, are included in &#8220;Trade and other
receivables&#8221;. Each lease payment received is allocated between income receivable and financial income. Financial income is recognised
as a profit over the term of the lease to produce a constant periodic interest rate on the remaining liability balance for each period.
Property under financial leases is derecognised if there is reasonable certainty that the Company will transfer its ownership at the end
of the lease term.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Leases in which the Company does not transfer
a significant part of the risks and rewards incidental to ownership of the underlying asset are classified as operating leases. Revenues
from associated leases are recognized in income using the straight-line method over the term of the lease (Note 19.2.2). The corresponding
leased assets are included in the Consolidated Statement of Financial Position depending on their nature.</P>


<!-- Field: Page; Sequence: 76 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->70<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt"><U>NOTE 5</U>: GROUP STRUCTURE</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">5.1
Corporate reorganization</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 6 and 11, 2023, the Boards
of Directors of CISA, the Company and GASA, respectively, resolved to instruct their respective managements to analyze a reorganization
process under the terms of Section 82 and subsequent sections of the LGS and tax neutrality under Sections 80 and subsequent articles
of the Income Tax Law (as amended in 2019), and, if appropriate, draw up the preparatory documentation for the spin-off of CISA&rsquo;s
equity and the subsequent merger through absorption of a part of its spun-off equity with Pampa and the other part of its spun-off equity
with GASA.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The above-mentioned process, which reorganization
effective date is scheduled for January 1, 2024, will derive benefits for the involved companies and for the entire economic group, since
it will allow for improved resource efficiency in financial information management and reduced costs for legal and tax advisory fees.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">5.2
Acquisition and sale of equity interests</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><FONT STYLE="font-weight: normal">5.2.1
<U>Sale of equity interests of controlling stake in Edenor</U></FONT></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 28, 2020, the Company entered
into with Empresa de Energ&iacute;a del Cono Sur S.A. and Integra Capital S.A., Daniel Eduardo Vila, Mauricio Filiberti and Jos&eacute;
Luis Manzano (the &#8220;Purchaser&#8221;) a share purchase agreement whereby it agreed to sell its controlling interest in Edenor through
the transfer of all Class A shares representing 51% of the capital stock and voting rights of said company (the &#8220;Transaction&#8221;).
On February 17, 2021, Pampa&#8217;s shareholders meeting was held and the Transaction was approved.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On June 24, 2021, the ENRE approved the
Transaction through Resolution No. 207/21, whereas, after meeting the precedent conditions, the transaction closing took place on June
30, 2021, with the transfer of shares and the change of controlling shareholder.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The agreed sales price consisted of: 21,876,856
Class B shares of Edenor, representing 2.41% of Edenor&#8217;s capital stock and voting rights, transferred upon the execution of the
share purchase agreement; and US$ 95 million in cash, which was paid in 3 installments: (i) US$ 5 million upon the execution of the share
purchase agreement; (ii) US$ 50 million on the closing date; and US$ 40 million, plus interest at a 10% fixed nominal annual rate (payable
quarterly), between June and July 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The results corresponding to the Distribution
of energy segment prior to the closing of the transaction were disclosed under &ldquo;Discontinued operations&rdquo; of the Consolidated
Statement of Comprehensive Income in the fiscal year ended December 31, 2021.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 77 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->71<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">The statement of comprehensive income associated with the discontinued
operations is disclosed below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 80%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 20%">Distribution of energy</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">12.31.2021</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Revenue</TD>
    <TD STYLE="text-align: right">493</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Cost of sales</TD>
    <TD STYLE="text-align: right">(398)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Gross profit&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">95</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Selling expenses</TD>
    <TD STYLE="text-align: right">(36)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Administrative expenses</TD>
    <TD STYLE="text-align: right">(26)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Other operating income</TD>
    <TD STYLE="text-align: right">21</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Other operating expenses</TD>
    <TD STYLE="text-align: right">(18)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Reversal of property, plant and equipment impairment</TD>
    <TD STYLE="text-align: right">16</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Impairment of financial assets</TD>
    <TD STYLE="text-align: right">(11)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Operating income</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">41</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Gain on monetary position, net</TD>
    <TD STYLE="vertical-align: middle; text-align: right">120</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Financial costs</TD>
    <TD STYLE="text-align: right">(106)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Other financial results</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">8</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Financial results, net</TD>
    <TD STYLE="text-align: right">22</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Profit before income tax</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">63</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Income tax</TD>
    <TD STYLE="text-align: right">(138)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Loss of the year from discontinued operations</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(75)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Other comprehensive income</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-style: italic; vertical-align: middle; text-align: left">Items that will not be reclassified to profit or loss</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Exchange differences on translation</TD>
    <TD STYLE="text-align: right">34</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: left; background-color: white">Items that may be reclassified to profit or loss</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Exchange differences on translation <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: right">30</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Other comprehensive income of the year from discontinued operations</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">64</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Total comprehensive loss of the year from discontinued operations</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(11)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Total loss of the year from discontinued operations attributable to:</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Owners of the company</TD>
    <TD STYLE="text-align: right">(39)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Non - controlling interest</TD>
    <TD STYLE="text-align: right">(36)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(75)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Total comprehensive loss of the year from discontinued operations attributable to:</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Owners of the company</TD>
    <TD STYLE="text-align: right">(9)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Non - controlling interest</TD>
    <TD STYLE="text-align: right">(2)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(11)</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Corresponds to the reclassification adjustment for exchange differences losses included in
profit or loss on Edenor disposal. No exchange differences losses on translation were reconized during 2021.</TD>
</TR></TABLE>


<!-- Field: Page; Sequence: 78 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->72<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The consolidated statement of cash flows related
to discontinued operations as of December 21, 2021 is presented below:</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 80%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 20%">Distribution of energy</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">12.31.2021</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Net cash generated by operating activities</TD>
    <TD STYLE="text-align: right">116</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Net cash used in investing activities</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(166)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Net cash used in financing activities</TD>
    <TD STYLE="text-align: right">(7)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Decrease in cash and cash equivalents from discontinued operations</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(57)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Cash and cash equivalents at the beginning of the year</TD>
    <TD STYLE="text-align: right">52</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Effect of devaluation and inflation on cash and cash equivalents</TD>
    <TD STYLE="text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Decrease in cash and cash equivalents</TD>
    <TD STYLE="text-align: right">(57)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Cash and cash equivalents at the end of the year</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">-</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><FONT STYLE="font-weight: normal">5.2.2
<U>Sale of equity interests in Refinor</U></FONT></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On September 15, 2022, the Company entered
into an agreement with Hidrocarburos del Norte S.A. for the sale of its Class A shares representing 28.5% of Refinor&#8217;s capital stock
for a price of US$ 5.7 million, subject to the fulfillment of certain precedent conditions.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of September 30, 2022, in accordance
with IFRS 5 and since the transaction price was below the carrying amount, the Company recognised impairment losses, before taxes, for
US$ 11 million, which are disclosed under &#8220;Share of profit from associates and joint ventures&#8221;.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On October 14, 2022, once conditions precedent
had been met, the Company transferred the above-mentioned shares. Later, the parties entered into an amendment to the agreement stipulating
the payment of the price balance as follows: (i) US$ 1.4 million on the amendment&#8217;s effective date, that is, December 22, 2023;
and (ii) US$ 2.6 million in 4 consecutive semi-annual installments of US$ 0.65 million, the first one payable 6 months as from the amendment&#8217;s
effective date.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of the date of issuance of these Consolidated
Financial Statements, the Company has collected US$ 3.1 million, and the amount of US$&nbsp;2.6 million is pending collection, to be financed
over two years at an annual 8% nominal fixed interest rate in accordance with the terms of the amendment.</P>


<!-- Field: Page; Sequence: 79 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->73<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><FONT STYLE="font-weight: normal">5.2.3
<U>Acquisition of an additional 50% interest in Greenwind</U></FONT></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On August 12, 2022, Vientos Solutions
L.L.C., Rio River Capital L.L.C and the Group entered into a share acquisition agreement whereby it acquired, for the amount of US$ 20.5
million, the whole equity interest in VS SLU, a Spanish company which main asset is its 50% interest in Greenwind&#8217;s capital stock.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On the acquisition date, the Company recorded
profits of US$ 23.3 million to reflect the fair value of the 50% stake in Greenwind prior to the aforementioned acquisition, as this transaction
is a business combination achieved in stages.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table details the fair value
of the consideration transferred and the fair values of the assets acquired and the liabilities assumed as of August 12, 2022:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify; width: 82%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center; width: 18%">In millions of US$</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Consideration transferred&nbsp;</TD>
    <TD STYLE="text-align: right">(20.5)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Fair value of the previous interest in Greenwind</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(20.4)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: justify">Total</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">(40.9)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Property, plant and equipment <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: right">127.7</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Intangible assets - Customer contract <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="text-align: right">31.6</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Financial assets at fair value</TD>
    <TD STYLE="text-align: right">24.4</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Trade receivables <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 400"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="text-align: right">6.3</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Other assets&nbsp;</TD>
    <TD STYLE="text-align: right">0.1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Cash and cash equivalents</TD>
    <TD STYLE="text-align: right">3.1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Borrowings&nbsp;</TD>
    <TD STYLE="text-align: right">(89.3)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Deferred tax liabilities</TD>
    <TD STYLE="text-align: right">(54.3)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Income tax liabilities</TD>
    <TD STYLE="text-align: right">(4.4)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Trade and other payables</TD>
    <TD STYLE="text-align: right">(2.0)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Provisions&nbsp;</TD>
    <TD STYLE="text-align: right">(1.4)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Tax liabilities</TD>
    <TD STYLE="text-align: right">(0.9)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: justify">Total acquisition price allocation <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 700"><SUP>(4)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">40.9</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/115% Arial Unicode MS; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-weight: normal"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Mario Cebreiro Wind Farm&#8217;s fair value was assessed using the &#8220;cost-based
approach,&#8221; which consists of the farm&#8217;s replacement cost new, adjusted by its loss of value resulting from physical deterioration
and functional and economic obsolescence.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/115% Arial Unicode MS; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-weight: normal"><SUP>(2)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The fair value of this intangible asset regarding the identified business
transactions has been determined through the application of the &#8220;income-based approach&#8221; and the &#8220;multi-period excess
earnings&#8221; method. Key assumptions used considered: i) projected generation level; and ii) discount rate. The useful life was assessed
based on the remaining years of the contract.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/115% Arial Unicode MS; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-weight: normal"><SUP>(3)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">For acquired trade receivables, contractual value does not differ from
fair value.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/115% Arial Unicode MS; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-weight: normal"><SUP>(4)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">No differences in the acquired assets&#8217; accounting valuation were
identified, except for the values detailed under Property, plant and equipment and Intangible assets.</FONT></TD></TR></TABLE>


<!-- Field: Page; Sequence: 80 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->74<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Expenses related to the acquisition transaction
were non-significant, and were recognised as expenses in fiscal year result.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The acquisition contributed to the Group
revenues from sales for US$ 11.3 million and net earnings for US$ 3.5 million for the August 12 - December 31, 2022 period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If the acquisition had taken place on
January 1, 2022, the consolidated revenues from sales and the results for the period as of December 31, 2022 would have been US$ 1,844
million and US$ 459 million, respectively. The pro forma information was calculated based on the Company and Greenwind&#8217;s results.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company paid US$ 20.5 million for
the acquisition of the additional equity interest which, net of the cash and cash equivalents balance of US$ 3.1 million, results in a
net cash flow of US$ 17.4 million, which is disclosed in the consolidated statement of cash flows in the item &#8220;Payment for the acquisition
of subsidiaries and associates&#8221; under investment activities.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><FONT STYLE="font-weight: normal">5.2.4
<U>Acquisition of Autotrol Renovables S.A.</U></FONT></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On September 30, 2022, the Company acquired
100% of the capital stock of Autotrol Renovables S.A., an entity holder of the &#8220;Wayra I Wind Farm&#8221; project (registered with
the National Renewable Energy Projects Registry, &#8220;RENPER&#8221;) for a price of US$ 50 thousand.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><FONT STYLE="font-weight: normal">5.2.5
<U>Acquisition of VAR</U></FONT></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 12, 2022, Parque E&oacute;lico
Arauco S.A.P.E.M. (&#8220;PEA&#8221;) and the Company executed an agreement to acquire 100% of VAR&#8217;s capital stock. This company
is exclusively engaged in electric power generation in the domestic market through the operation of Arauco II Wind Farm, with a 99.75
MW capacity, at a price of US$ 171 million, including the takeover of a US$ 46 million interest liability recorded in VAR and payable
by PEA in 12 consecutive monthly installments as from transaction closing.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 16, 2022, as the conditions
precedent had been met, PEA transferred VAR&#8217;s shares, and the Company paid US$ 128.1 million, an amount that considers the working
capital adjustment estimated on that date. Lastly, in 2023, the final adjustment amounted to US$ 1.8 million in favor of the Company.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table details the fair value
of the consideration transferred, and the fair values of the assets acquired and liabilities assumed as of, December 16, 2022:</P>


<!-- Field: Page; Sequence: 81 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->75<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify; width: 82%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center; width: 18%">In millions of US$</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Consideration transferred&nbsp;</TD>
    <TD STYLE="text-align: right">(128.1)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Estimated price adjustment&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">6.7</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: justify">Total</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">(121.4)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Property, plant and equipment <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: right">167.7</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Intangible assets - Customer contract <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="text-align: right">62.3</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Trade receivables <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 400"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="text-align: right">4.9</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Other receivables</TD>
    <TD STYLE="text-align: right">1.2</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Deferred tax liability</TD>
    <TD STYLE="text-align: right">(60.2)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Income tax liability</TD>
    <TD STYLE="text-align: right">(5.0)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify; background-color: white">Trade and other payables</TD>
    <TD STYLE="text-align: right">(3.3)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify; background-color: white">Other payables</TD>
    <TD STYLE="text-align: right">(46.0)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Tax liabilities</TD>
    <TD STYLE="text-align: right">(0.2)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: justify">Total acquisition price allocation <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 700"><SUP>(4)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">121.4</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial Unicode MS; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 9pt; font-weight: normal"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt; font-weight: normal">Arauco Wind Farm&#8217;s fair value was assessed using
the &#8220;cost-based approach,&#8221; which consists of the farm&#8217;s replacement cost new, adjusted by its loss of value resulting
from physical deterioration and functional and economic obsolescence. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial Unicode MS; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 9pt; font-weight: normal"><SUP>(2)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt; font-weight: normal">The fair value of this intangible asset regarding the
identified business transactions has been determined through the application of the &#8220;income-based approach&#8221; and the &#8220;multi-period
excess earnings&#8221; method. Key assumptions used considered: i) projected generation level; and ii) discount rate. The useful life
was assessed based on the remaining years of the contract.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial Unicode MS; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 9pt; font-weight: normal"><SUP>(3)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt; font-weight: normal">For acquired trade receivables, contractual value does
not differ from fair value.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial Unicode MS; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 9pt; font-weight: normal"><SUP>(4)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt; font-weight: normal">No differences in the acquired assets&#8217; accounting
valuation were identified, except for the values detailed under Property, plant and equipment and Intangible assets.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Expenses related to the acquisition transaction
were non-significant and they were recognised as expenses in fiscal year result.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If the acquisition had taken place on
January 1, 2022, the consolidated revenues from sales and the results for the period as of December 31, 2022 would have been US$ 1,858
million and US$ 448 million, respectively. The pro forma information was calculated based on the Company and VAR&#8217;s results.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company paid US$ 93.2 million for
the acquisition of the equity interest, which is disclosed in the consolidated statement of cash flows in the item &#8220;Payment for
the acquisition of subsidiaries and associates&#8221; under investment activities. In addition, the Company made a partial payment by
delivering public securities for US$ 34.9 million which is disclosed in the consolidated statement of cash flows in the item &#8220;significant
non-cash transactions&#8221; (see Note 14.3).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">5.2.6 <U>Acquisition of additional interest
in Rinc&oacute;n de Aranda and divestment in Greenwind</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On June 23, 2023, the Company reached
an agreement with Total Austral S.A. (Argentine branch) to acquire the additional 45% interest in the Rinc&oacute;n de Aranda block, achieving
a 100% interest in the block. As part of the agreement, on the transaction's closing date Pampa transfered 100% of its equity interest
in Greenwind, which only asset is the Mario Cebreiro Wind Farm.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Rinc&oacute;n de Aranda is a 240 km2
exploration block located in the oil window of the Vaca Muerta formation, in the Province of Neuqu&eacute;n. It currently has a shut-in
production well and an uncompleted well, both drilled in 2019; although the block is not currently in production, its proximity to important
productive blocks in the Vaca Muerta formation makes it highly promising from a technical standpoint.</P>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>


<!-- Field: Page; Sequence: 82 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->76<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On August 16, 2023, after meeting the
conditions precedent, including, among others, the assignment approval and the granting of a CENCH over the area to the Company, the transaction
was closed.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On its part, Mario Cebreiro Wind Farm,
inaugurated in 2018 with a 100 MW capacity and located in Bah&iacute;a Blanca, Province of Buenos Aires, was the Company's first wind
power project, awarded under the Renovar 1 program; it is worth highlighting that, despite the wind farm&#8217;s assignment, the Company
remains committed to renewable energy, which is essential to keep its position as a leading provider of efficient energy, and has started
the construction of PEPE VI (see Note 17).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Lastly, with the acquisition of the additional
interest in Rinc&oacute;n de Aranda, the Company diversifies its presence in the energy sector with a shale oil block having great production
potential and reinforces its commitment to the development of unconventional reserves in Vaca Muerta.<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On the closing date, the Company recorded
profits of US$ 6.6 million to reflect the fair value of the previously held 55% interest in the Rinc&oacute;n de Aranda block, as well
as profits of US$ 0.2 million to reflect the result of the asset swaps.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The fair value of Rincon de Aranda area
was based on present value of future net cash flows prepared based on estimates on the future behavior of certain key assumptions, including
the following: (i) reference prices for products; (ii) demand projections per type of product; (iii) costs evolution; (iv) macroeconomic
variables such as inflation and exchange rates; and (v) the discount rate.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table details the value
of the transferred consideration and the fair value of assets acquired and liabilities assumed as of August 16, 2023:</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; width: 84%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 1pt solid; text-align: center; width: 16%">In millions of US$</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Assignment of Greenwind's interest net of assumed liabilities <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: right">(54.0)</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Fair value of Rinc&oacute;n de Aranda's previous interest</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">(31.6)</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="font-weight: bold; text-align: justify">Total</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: right">(85.6)</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Property, plant and equipment <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="text-align: right">57.0</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Inventories <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="text-align: right">0.9</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Tax credits <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(4)</SUP></FONT></TD>
    <TD STYLE="text-align: right">1.0</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Cash and cash equivalents <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(5)</SUP></FONT></TD>
    <TD STYLE="text-align: right">29.2</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Deferred tax liability</TD>
    <TD STYLE="text-align: right">(2.3)</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="font-weight: bold; text-align: justify">Fair value</TD>
    <TD STYLE="font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">85.8</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: bottom">Profit</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right; border-top-color: Black; border-top-width: 1pt">0.2</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The following table details the book value of Greenwind&acute;s interest:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 83 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->77<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="background-color: white">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom; width: 84%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 1pt solid; text-align: center; width: 16%">In millions of US$</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Property, plant and equipment</TD>
    <TD STYLE="text-align: right">121.1</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Intangible assets</TD>
    <TD STYLE="text-align: right">29.5</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="text-align: right">10.9</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Trade and other receivables</TD>
    <TD STYLE="text-align: right">10.1</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Cash and cash equivalents</TD>
    <TD STYLE="text-align: right">16.7</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Borrowings</TD>
    <TD STYLE="text-align: right">(79.7)</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Deferred tax liability</TD>
    <TD STYLE="text-align: right">(48.3)</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Income tax liability</TD>
    <TD STYLE="text-align: right">(3.6)</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Trade and other payables</TD>
    <TD STYLE="text-align: right">(1.1)</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Provisions</TD>
    <TD STYLE="text-align: right">(0.8)</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Tax charges</TD>
    <TD STYLE="text-align: right">(0.8)</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="font-weight: bold; text-align: justify">Assignment of Greenwind's interest net of assumed liabilities</TD>
    <TD STYLE="font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">54.0</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: justify">Provisions assumed by Pampa</TD>
    <TD STYLE="text-align: right">(4.2)</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="font-weight: bold; text-align: justify">Book value of Greenwind&acute;s interest</TD>
    <TD STYLE="font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">49.8</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The contingency provisions assumed by
Pampa correspond to the additional income tax that should have been determined in Greenwind for the fiscal year 2022 without considering
the tax loss update regarding the contractual indemnity granted to Total Austral S.A. (Argentine Branch).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(2)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The well&#8217;s fair value was assessed using the &#8220;cost-based approach&#8221;, which
consists of its replacement cost new adjusted by its loss of value resulting from physical deterioration, and functional and economic
obsolescence. The fair value of the mining property was assessed using the &#8220;income-based approach&#8221;, considering the development
plan contemplated in the concession contract's term.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(3)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The fair value of spare parts was assessed using the &#8220;cost-based approach&#8221;, which
consists of the item&#8217;s replacement cost new adjusted by its loss of value resulting from physical deterioration, and functional
and economic obsolescence.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(4)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The contractual value of tax credits does not differ from its fair value.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(5)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Corresponding to the price adjustment paid by Total Austral S.A. (Argentine branch).</TD>
</TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As a result of the asset swap, the Company
received in cash and cash equivalents the amount of US$ 29.2 million, which, net of the assigned cash and cash equivalents balance of
US$&nbsp;16.7&nbsp;million, results in a net cash flow of US$ 12.5 million, disclosed in the statement of cash flows in the item &#8220;Collection
for equity interests in companies sales&#8221; under investment activities.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 84 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->78<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>NOTE 5</U>: <FONT STYLE="font-weight: normal">(Continuation)</FONT></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">5.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Interest in subsidiaries, associates and joint ventures</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 35.4pt; text-align: justify; text-indent: -35.4pt">5.3.1 <U>Subsidiaries
information</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Unless otherwise indicated, the country
of the registered office is also the principal place where the subsidiary develops its activities.</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 37%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; background-color: white; width: 10%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; background-color: white; width: 26%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 11%">12.31.2023</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 12%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Company</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">Country</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">Main activity</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">Direct and indirect participation %</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">Direct and indirect participation %</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Autotrol Renovables S.A.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Generation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">CISA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Trader &amp; investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Ecuador Pipeline Holdings Limited</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Gran Cayman</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">-</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">EISA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Uruguay</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle">Enecor S.A.</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Argentina</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Electricity transportation</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">70.00%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">70.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Energ&iacute;a Operaciones ENOPSA S.A. <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Ecuador</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Oil</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Fideicomiso CIESA&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">GASA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Generation &amp; Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Greenwind <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Generation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">HIDISA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Generation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">61.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">61.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">HINISA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Generation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">52.04%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">52.04%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Pampa Ecuador Inc&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Nevis</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">PEB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Bolivia</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">PE Energ&iacute;a Ecuador LTD</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Gran Cayman</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">PECSA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Chile</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Trader</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">-</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">PESOSA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Trader</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">-</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Petrolera San Carlos S.A.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Venezuela</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Oil</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">PB18</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Ecuador</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Oil</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">PISA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Uruguay</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">TGU</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Uruguay</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Gas transportation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">51.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">51.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">VAR</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Generation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Vientos Solutions Argentina S.A.U.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Advisory services</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Vientos Solutions S.L.U.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Espa&ntilde;a</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">100.00%</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0"><FONT STYLE="font-size: 8pt; line-height: 115%"></FONT></P>

<P STYLE="font: 8pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">Company merged into PB18.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(2)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">See Note 5.2.6.</FONT></TD></TR></TABLE>


<!-- Field: Page; Sequence: 85 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->79<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">5.3.2 <U>Information about investments in associates
and joint ventures</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table presents the main
activity and financial information used for valuation and percentages of participation in associates and joint ventures; unless otherwise
indicated, the share capital consists of common shares, each granting the right to one vote:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Information about the issuer</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 10%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 28%">Main activity</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">Date</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">Share capital</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">Profit (loss) of the&nbsp;&nbsp;year</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">Equity</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 12%">Direct and indirect participation %</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Associates</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">OCP</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">Investment</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">12.31.2023</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">100</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">17</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">114</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">34.08%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>TGS <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Gas transportation</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">12.31.2023</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">29</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,058</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1.029%</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: middle">Joint ventures</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>CIESA <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">12.31.2023</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">15</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">540</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">50.00%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Citelec <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Investment</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">12.31.2023</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">4</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">164</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">50.00%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>CTB</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Generation</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">12.31.2023</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">11</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(15)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">500</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">50.00%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">The Company holds a direct and indirect interest of 1.029% in TGS and 50%
in CIESA, a company that holds a 51% interest in the share capital of TGS. Therefore, additionally the Company has an indirect participation
of 26.50% in TGS.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 32.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 32.2pt; text-align: justify">As of December 31, 2023, the quotation of
TGS's ordinary shares and ADR published on the BCBA and the NYSE was $2,956.15 and US$ 15.09, respectively, granting to Pampa (direct
and indirect) ownership an approximate stake market value of $ 623,064 million.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify; text-indent: -14.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 9pt"><SUP>(2)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">The Company holds a 50% interest in Citelec, a company that holds a 52.65%
interest in Transener&#8217;s capital stock; therefore, the Company has a 26.33% indirect interest in Transener. As of December 31, 2023,
Transener&#8217;s common share price listed at the BCBA was $ 1,210.00, conferring Pampa&#8217;s indirect interest an approximate $ 141,643
million market value.</FONT></TD></TR></TABLE>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 6pt 32.2pt; text-align: justify; text-indent: -9.7pt">&nbsp;</P>


<!-- Field: Page; Sequence: 86 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->80<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 13.5pt; text-align: justify; text-indent: -13.5pt">The details
of the balances of investments in associates and joint ventures are as follows:</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 17%">12.31.2023</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 3%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 17%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; background-color: white">Disclosed in non-current assets</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; background-color: white">Associates</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">OCP</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">23</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">15</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">TGS</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">14</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">67</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Total associates</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">37</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">82</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; background-color: white">Joint ventures</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">CIESA</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">303</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">435</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Citelec</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">82</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">117</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">CTB</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">250</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">268</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Total joint ventures</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">635</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">820</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Total associates and joint ventures</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">672</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">902</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0">The following tables show the breakdown of the share of profit
from associates and joint ventures:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 48%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 6%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">12.31.2023</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">12.31.2022</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; background-color: white">Associates</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Refinor <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(12)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(2)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">OCP</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">5</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">TGS</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">3</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total associates</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">8</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(6)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">6</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; background-color: white">Joint ventures</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">CIESA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">6</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">43</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">50</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">CTB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(18)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">41</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">49</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Citelec&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">2</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(3)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Greenwind <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">24</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(2)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total joint ventures</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(10)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">111</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">94</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total associates and joint ventures</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">(2)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">105</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">100</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 8pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">See Note 5.2.2. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 8pt"><SUP>(2)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">See Note 5.2.3.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 87 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->81<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0">The evolution of investments in associates and joint ventures
is as follows:</P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 48%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 14%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 14%">12.31.2022</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 14%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">At the beginning of the year</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">902</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">770</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">547</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Dividends</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(8)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Increases</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">17</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Decrease due to sale of equity interests</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(58)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(6)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Decrease due to acquisition of control&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(20)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Increase due to acquisition of equity interests</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">17</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Share of profit&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">116</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">98</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">(Impairment) Recovery of impairment losses</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(11)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Exchange differences on translation</TD>
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(174)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">60</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">89</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">At the end of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">672</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">902</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">770</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">5.3.3 <U>Investment in CTB</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On June 26, 2019, the acquisition by CTB,
a company co-controlled by YPF and Pampa, of the goodwill of CTEB, located in the petrochemical complex of Ensenada-Province of Buenos
Aires and consisting of two open-cycle gas turbines and an installed capacity of 567 MW, was completed.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">CTB undertook to achieve the cycle-closing
commissioning, increasing its installed capacity to 847 MW. On January 27, 2023, CTB commissioned the CC, and on February 22, 2023, commercial
operations started under the supply contract with CAMMESA. On April 26, 2023, CTB was commissioned to operate with gas oil.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">CTB entered into energy supply contracts
with CAMMESA under SE Resolution No. 220/07; the open cycle contract terminated on April 27, 2022, and the closed cycle contract is effective
for a term of 10 years as from the CC&#8217;s start of commercial operations. Energy not committed under contracts with CAMMESA is remunerated
at the spot market. Finally, CTB entered into an availability and efficiency optimization agreement with CAMMESA for its open-cycle GT
units, effective from March 1, 2023 to February 29, 2028, within the framework of SE Resolution No. 59/23 (see Note 2.1.4.4).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In 2019, Pampa and YPF agreed on a management
and operation scheme for CTEB whereby the company would be managed by Pampa and YPF Energ&iacute;a El&eacute;ctrica S.A. on a rotational
basis for 4-year periods. Pampa managed the company during the first period and YPF Energ&iacute;a El&eacute;ctrica S.A., on its part,
oversaw and managed the works associated with the plant&#8217;s closing to CC. On December 29, 2023, Pampa and YPF entered into an addendum
to the management agreement stipulating a shared management scheme between Pampa and YPF Energ&iacute;a El&eacute;ctrica S.A., effective
as from January 2024, suspending the previous rotational scheme. The addendum contemplates the possibility of resuming the original rotational
scheme at the request of the parties.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 88 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->82<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>5.3.3.1 Global Program of CB </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On July 23, 2020, CTB&#8217;s Extraordinary
General Shareholders&#8217; Meeting resolved to approve the creation of a global program of simple corporate bonds non-convertible into
shares for up to US$ 200 million or its equivalent in other currencies or units of value, and the issuance of corporate bonds under such
program up to its maximum amount, at any time, to be issued in one or more classes and/or series, which authorization was granted by the
CNV on September 24, 2020.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>5.3.3.2 Issuance of CB</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On June 4, 2021, CTB issued: (i) Class
1 CB for a total amount of US$ 27.3 million, accruing interest at an annual fixed rate of 4% and maturing on June 4, 2023; and (ii) Class
2 CB for a total amount of 37,504,954 units of purchasing power (&#8220;UVA&#8221;), adjustable by the Reference Stabilization Coefficient
(CER), equivalent to $2,928 million, accruing interest at a fixed 4% rate and maturing on June 4, 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On August 18, 2021, CTB reopened (i) Class
1 CB for a total amount of US$&nbsp;15.6 million at an issue price of 101.7050%; and (ii) Class 2 CB for a total amount of 27.9 million
UVA at an initial value of $84.76 per UVA at an issue price of 100.82%.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 26, 2021, CTB issued Class
4 CB for a total amount of US$&nbsp;96 million, accruing interest at an annual 0% fixed rate and maturing on November 26, 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 16, 2022, CTB issued: (i) Class
6 CB for a total amount of US$ 25 million at a fixed annual 0% rate maturing on May 16, 2025; and (ii) Class 7 CB for a total amount of
$ 1,754 million accruing interest at a variable Badlar rate plus an annual 2.98% spread and maturing on November 16, 2023, date in which
were totally cancelled.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On August 22, 2022, CTB issued Class 8
CB for a total amount of $ 4,235 million, accruing interest at a variable Badlar rate plus a 1.00% annual spread and maturing on February
22, 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, on December 12, 2022, CTB reopened
additional Class 6 CB for a total amount of US$ 58.6 million accruing interest at an annual 0% fixed rate and maturing on May 16, 2025.
With the reopening of Class 6 CB, which were subscribed and paid in cash and in-kind through the delivery of Class 1 CB, Class 1 CB with
a fair value of US$ 10.7 million were partially canceled.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It is worth highlighting that the resolutive
condition of the guarantees granted by CTB&#8217;s co-controlling shareholders (Pampa and YPF) to holders of outstanding Classes 1, 2,
4, 6, 7 and 8 CB issued by CTB to secure the timely and proper payment of any owed amount, including principal and interest services,
was fulfilled with the CC&#8217;s commissioning on February 22, 2023. Consequently, these guarantees were terminated and rendered ineffective
and unenforceable.</P>


<!-- Field: Page; Sequence: 89 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->83<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 3, 2023, CTB issued Class 9 CB for a
total amount of US$&nbsp;50 million at an annual 0% fixed Badlar rate maturing on April 3, 2026. These CB were subscribed and paid in
cash and in kind through the delivery of the Class 1 CB; therefore, Class 1 CB for a face value of US$ 2.2 million were partially canceled.
The remaining outstanding face value of Class I CB, amounting to US$ 30 million, was redeemed in full in May 2023.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of the date of issuance of these Consolidated
Financial Statements, CTB is in compliance with all the covenants established in its debt agreements.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Additionally, CTB took out import financing for
US$&nbsp;0.8&nbsp;million.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Post-closing, the Company took out short-term
bank loans in pesos for $ 31,786 million at an average annual 106% interest rate and, in January 2024, it early redeemed all Class&nbsp;2
CB.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>5.3.3.3 Impairment of non-financial
assets</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, CTB did not identify
indications that could impact the assumptions considered in the recoverability assessment performed as of December 31, 2022. It should
be noted that CTB has not recorded any impairment losses as a result of aforementioned assessment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">5.3.4 <U>Investment in OCP</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company, through PEB, has an equity
stake in OCP, which in turn holds the whole capital stock and voting rights of OCP SA, the licensee company of an oil pipeline in Ecuador
with a transportation capacity of 450,000&nbsp;barrels/day.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On August 12, 2021, the Company, through
its subsidiary PEB, entered into an agreement with Occidental International Exploration and Production Company for the acquisition of
all the shares of Occidental del Ecuador Inc. (currently Pampa Ecuador Inc.), a company which in turn holds shares representing 14.15%
of OCP's capital stock, for US$&nbsp;5 million.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On its part, on November 30, 2023, the
Company, through its subsidiary PEB, entered into an agreement with Burlington Resources Oriente Limited and Perenco S.A for the purchase
of Ecuador Pipeline Holdings Limited, a company which in turn holds shares representing 4% of OCP&#8217;s capital stock, in consideration
of a price equivalent to US$ 1 (one dollar).</P>


<!-- Field: Page; Sequence: 90 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->84<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The closing of these transactions, taking
into consideration the timing of the agreements and the concession&#8217;s extension term, involved the recognition of profits for US$
17.2 million and US$ 3.7 million under IAS 28. The following table details the consideration and the fair values of the assets acquired
and the profits recorded on the detailed acquisition dates:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; border-top: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">8.12.21</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">11.30.23</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">In millions of US$</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt">Acquisition cost </TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right">(5.0)</TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt"><B>Total consideration </B></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right"><B>(5.0)</B></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right"><B>-</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt">Share value of the interest in the fair value of OCP&#8217;s identifiable assets and liabilities <SUP>(1)</SUP></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; text-align: right">12.7</TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; text-align: right">2.4</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt">OCP dividends to be received </TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right">9.5</TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt">Cash and cash equivalents</TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right">-</TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right">1.3</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt"><B>Assets fair value </B></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right"><B>22.2</B></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right"><B>3.7</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt"><B>Profit <SUP>(2)</SUP></B></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right"><B>17.2</B></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right"><B>3.7</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 9.7pt"><SUP>(1)</SUP></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">Calculated based on the present value of expected dividend flows.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 9.7pt"><SUP>(2)</SUP></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">Disclosed under &#8220;Share of profit from associates and joint ventures&#8221;.</FONT></TD></TR></TABLE>

<P STYLE="font: 8pt/10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 12, 2021, PEB recorded an impairment
reversal of US$ 1.6 million, on the interest in OCP, prior the aforementioned acquisition, in relation to the estimation of the present
value of the future cash flows that were expected to be obtained through the collection of dividends considering the concession term and
a discount rate of 15.09%.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Additionally, on May 4, 2023, the Company, through
its subsidiary PEB, entered into a purchase agreement with Repsol OCP de Ecuador S.A. to acquire 2,979,606,613 additional shares, representing
29.66% of OCP, for a price of US$ 15 million, adjusted by subtracting the dividends collected by Repsol OCP de Ecuador S.A. between January
1, 2023 and the transaction closing date. As of December 31, 2023, the closing of the transaction was subject to the customary conditions
precedent for this kind of transactions, including the applicable governmental approvals.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Post-closing, on January 16, 2024, the
transaction was closed. It is worth highlighting that with this transaction the Company, through PEB, reaches a 63.74% equity interest
in OCP's capital stock and obtains joint control, in accordance to the commitment to amend the shareholders' agreement dated on January
9, 2024 with PetroOriental OCP Holdings Ltd.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>5.3.4.1 Concession termination</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Given the Government's interest in ensuring
continuity in the provision of the public hydrocarbon transportation utility through the heavy crude oil pipeline, on January 19, 2024
the Ministry of Energy and Mines of Ecuador and OCP SA agreed to extend its term until July 31, 2024 to: (i) allow the Government the
time necessary to verify compliance with the authorization contract, including the pipeline's original diameter in all its sections, the
enabling licenses issued by the Energy and Non-Renewable Natural Resources Regulation and Control Agency, and (ii) allow OCP SA to substantiate
compliance with the authorization contract. The parties will also review the objectives set for the transition process, agree on the content
of the termination agreement, and take the necessary measures for the transfer of the company.</P>


<!-- Field: Page; Sequence: 91 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->85<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>5.3.4.2 Dividend distribution and share buyback</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Post-closing, on January 5, on January 18, 2024,
OCP declared dividends for US$13.3 million. Additionally, on January 22, 2024, OCP repurchased a total of 5,740,902,124 own ordinary shares
for a US$ 0.01 price each.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a consequence of the aforementioned, on January
22, 2024, the Company, through PEB, received US$ 8.5 million for dividend distribution and US$ 36.6 million for stock buyback, in relation
to its 63.74% interest in OCP.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>5.3.4.3 Contingent liabilities in OCP
SA</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">During 2023, upon the occurrence of a
force majeure event related to the erosive process in the Quijos River bed, in the San Rafael sector, on the border of the provinces of
Sucumb&iacute;os and Napo, Ecuador, several organizations and individuals filed a constitutional protection action against OCP SA, as
well as against the Ministry of Energy, the Ministry of Environment and Water, Petroecuador and the Ministry of Health, alleging violation
of several constitutional rights. The safeguard action was dismissed in the second instance by Orellana&#8217;s Provincial Court of Justice;
however, the plaintiffs filed a constitutional protection action, which was upheld by the Constitutional Court.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In 2023, due to the Force Majeure event
resulting from the pipeline rupture in 2020 mentioned in the previous paragraph, the decentralized autonomous government of Orellana filed
a constitutional protection action against OCP SA and Petroecuador alleging violation of several constitutional rights. The protection
action has not been resolved as of the date of issuance of these Financial Statements.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Moreover, in 2023, due to the Force Majeure
event resulting from the pipeline rupture in 2020, residents of the Puerto Madero area filed a constitutional protection action against
OCP SA, the Presidency of the Republic of Ecuador and EP Petroecuador alleging violation of several constitutional rights. The protection
action has not been resolved as of the date of issuance of these Financial Statements. OCP SA&#8217;s management, jointly with its legal
advisors, has determined that the probability of an adverse ruling is remote.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">5.3.5
<U>Investment in CITELEC</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>5.3.5.1 Impairment in the value of
non-financial assets in Transener </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The projections used by Transener in the
calculation of the recoverable amount of long-lived non-financial assets considered 3 weighted alternatives associated with: (i) the status
of negotiations with the ENRE; (ii) the Right-of-Use and Associated Maintenance contract; (iii) Transener&#8217;s management expectations
on the transitional tariff increase to be granted until the conclusion of the new RTI; (iv) Transener&#8217;s expectations on the timeliness
and outcome of the new RTI process; and (v) the impact of a cost monitoring scheme allowing for bi-annual updates to current tariffs.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023 and 2022, the
book value of Transener&#8217;s long-lived non-financial assets does not exceed their recoverable amount.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>5.3.5.2 Distribution of earnings</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Regarding the loan agreement executed
in July 2021 between Transener and BNA in the amount of $ 1,000 million, for the tree-year term, Transener&#8217;s Board of Directors
has committed, while the loan remains outstanding, to refrain from making any proposal to the Shareholders&#8217; Meeting regarding the
release of reserves for their distribution as dividends to shareholders or, in case there are negative results affecting reserves, from
proposing the distribution of earnings until reserves have been replenished.</P>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 92 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->86<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">5.3.6
<U>Investment in CIESA</U></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>Impairment of non-financial assets
in </I>TGS</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Argentina&#8217;s main macroeconomic and
business variables have deteriorated since August 2019. This situation worsened in 2020 due to the negative consequences of the COVID
pandemic on the Argentine economic situation, which forced the Argentine Government to take a series of measures, even affecting the regulatory
framework of the natural gas transportation segment. As a result, TGS has re-estimated the cash flows used in determining the recoverable
value (value in use) of the CGU in the Natural Gas Transportation segment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The projections used in the calculation
of the recoverable amount considered 3 weighted alternatives associated with: (i) the status of negotiations with the Argentine Government;
(ii) the contractual rights resulting from the license; (iii) expectations on the transitional tariff increase to be granted until the
conclusion of the new RTI; (iv) expectations on the result of the new RTI process; and (v) the impact of a cost monitoring scheme allowing
for bi-annual updates to current tariffs.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023 and 2022, TGS
has determined that it is not necessary to record an additional impairment charge, nor to reverse the recorded one.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>5.4 Operations in oil and gas consortiums</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">5.4.1 <U>General considerations</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company is jointly and severally liable
with the other participants for meeting the contractual obligations under these arrangements.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The production areas in Argentina are
operated pursuant to concession production agreements with free hydrocarbons availability.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For the computable crude oil and natural
gas in Argentina production, according to Law No.17,319, are paid royalties equivalent to 12% of the wellhead price of crude oil and natural
gas. The wellhead price is calculated by deducting freight and other sales related expenses from the sale prices obtained from transactions
with third parties. This rate may increase from 3% to 4% depending on the producing jurisdiction and market value of the product.</P>


<!-- Field: Page; Sequence: 93 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->87<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify">5.4.2 <U>Oil and gas participation details
</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, the Company and
its associates are part of the joint operations and consortia for the exploration and production of oil and gas as indicated below:</P>

<P STYLE="font: 10pt/7pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/7pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; width: 33%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 19%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 11%">Participation</TD>
    <TD STYLE="text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 23%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 9%">&nbsp;Duration Up To&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Name</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Location</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Direct</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Operator</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-decoration: underline">Argentine production</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">R&iacute;o Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">R&iacute;o Negro and Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">31.42% and 33.07%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">YPF</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">2027/2051</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Sierra Chata&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">45.55%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">PAMPA</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2053</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">El Mangrullo</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">100.00%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">PAMPA</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2053</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">La Tapera - Puesto Quiroga&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">Chubut</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">35.67%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">Tecpetrol</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2027</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">El Tordillo&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">Chubut</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">35.67%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">Tecpetrol</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2027</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Aguarag&uuml;e <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Salta</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">15.00%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">Tecpetrol</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2037</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Gobernador Ayala</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">Mendoza</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">22.51%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">Pluspetrol</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2036</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">R&iacute;o Limay este (Ex Senillosa) <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">85.00%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">PAMPA</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2040</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Rinc&oacute;n de Aranda <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">100.00%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">PAMPA</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2058</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Veta Escondida</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">55.00%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">PAMPA</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2027</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Rinc&oacute;n del Mangrullo</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">50.00%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">YPF</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2052</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Los Blancos (ex Chirete)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Salta</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">50.00%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">High Luck Group Limited</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2045</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-decoration: underline">Argentine exploration</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Parva Negra Este <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(4)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">85.00%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">PAMPA</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2025</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>R&iacute;o Atuel <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(5)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Mendoza</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">33.33%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">Petrolera El Trebol</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2023</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Borde del Limay <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(6)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">85.00%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">PAMPA</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2015</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Los V&eacute;rtices <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(6)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">85.00%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">PAMPA</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2015</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Las Tacanas Norte <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(7)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">90.00%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">PAMPA</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2027</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Trebuchet MS, Times, Serif; font-size: 8.5pt"></FONT></P>

<P STYLE="font: 8.5pt Trebuchet MS, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">On February 3, 2023, an agreement for a 10-year extension of the concession
was signed with the enforcement authority. The agreement includes investment commitments for the execution of 1 well, 2 workovers and
2D seismic reprocessing, and was ratified by Provincial Executive Order No. 543/23 published on August 14, 2023 in Salta&#8217;s BO.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(2)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">On January 2, 2023, the environmental remediation plan was approved by the
Province of Neuqu&eacute;n&#8217;s Undersecretariat of Environment, a necessary preliminary step to relinquish the block.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(3)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">On June 23, 2023 the additional 45% interest in the block was acquired (see
details below).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(4)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">On December 5, 2023, the addendum to the block&#8217;s Joint Venture agreement
was approved (see details below).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(5)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">On July 10, 2023, the Company and Petrolera El Tr&eacute;bol informed the Ministry
of Economy and Energy of the Province of Mendoza of their decision to fully relinquish the block classified as a lot under evaluation
pursuant to section 81 (b) of Act No. 17,319. Consequently, the Company has written off exploration wells for US$ 6.6&nbsp;million.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(6)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">Under process of relinquishment to the province. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(7)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">On November 30, 2023, the addendum to the exploration, development and production
agreement for the block was approved (see details below). </FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 94 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->88<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The assets and liabilities as of December
31, 2023 and 2022 and the production cost of Joint Ventures and Consortiums in which the Company has interests for the years ended on
those dates are detailed below:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; width: 62%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 17%">12.31.2023</TD>
    <TD STYLE="text-align: center; font-weight: bold; vertical-align: middle; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 17%">12.31.2022</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">

<TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Non-current assets</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Current assets</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Total assets</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Non-current Liabilities</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Current Liabilities</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Total liabilities&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Production cost</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">94</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 12pt">It is worth highlighting that the information presented does
not include charges recorded by the Company as a member of the Joint Ventures and Consortiums.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Assignment of mixed companies in Venezuela</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify">On May 6, 2022, the Company transferred
to Integra Petr&oacute;leo y Gas S.A. (the &#8220;Assignee&#8221;) all the rights and obligations of the Company for its direct and indirect
interest in the capital of the following mixed companies in the Bolivarian Republic of Venezuela: Petroritupano S.A., Petroven-Bras S.A.,
Petroway&uacute; S.A. and Petrokari&ntilde;a S.A. (the &#8220;Mixed Companies&#8221;) that exploit four hydrocarbon production areas in
that country: Oritupano Leona, La Concepci&oacute;n, Acema and Mata (the &#8220;Areas&#8221;). As consideration for the assignment, the
Assignee will pay to the Company 50% of any payment it obtains, whether monetary or in kind (including, without limitation, an indemnity,
compensation, reparation or similar) related to the direct or indirect interest in the Mixed Companies and the Areas. This transaction
is subject to the change of control approval by the Minister of Popular Power of Petroleum of the Bolivarian Republic of Venezuela.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of the date of issuance of these Consolidated
Financial Statements, the Company considers contingent the collection right associated with the assignment, in terms of IAS 37, taking
into consideration that it is subject to the change of control approval and subsequent collection of payments by the Assignee.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>Anticlinal Campamento termination agreement</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On January 19, 2023, the Company accepted
Oilstone Energ&iacute;a S.A.&#8217;s offer to terminate its rights and obligations under the investment agreement, the Joint Operation
and the operating agreement of the block, effective from January 1, 2023.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>Estaci&oacute;n Fern&aacute;ndez Oro
termination agreement</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On March 14, 2023, the Company accepted
YPF S.A.&#8217;s proposal to terminate, effective as from January 1, 2023, all the Company&#8217;s rights and obligations in the investment
agreement, the Joint Operation and the operating agreement for the Estaci&oacute;n Fern&aacute;ndez Oro block&#8217;s exploitation concession.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>Acquisition of additional interest
and grant of CENCH at Rinc&oacute;n de Aranda</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On June 23, 2023, the Company executed
an agreement with Total Austral S.A. (Argentine branch) to acquire the additional 45% interest in the Rinc&oacute;n de Aranda area. As
part of the agreement, on the transaction&#8217;s closing date, the Company assigned 100% of its equity interest in Greenwind, which
only asset is the Mario Cebreiro Wind Farm (see Note 5.2.6).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>


<!-- Field: Page; Sequence: 95 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->89<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On July 26, 2023, the Company entered
into a Memorandum of Understanding with the Province of Neuqu&eacute;n agreeing on the CENCH granting terms. Later, pursuant to Executive
Order No. 1,435/23, the Province of Neuqu&eacute;n approved the above-mentioned Memorandum of Understanding and the assignment of Total
Austral S.A. (Argentine branch)&#8217;s interest to the Company, and granted the CENCH in favor of the Company. The assignment of rights
over the block and the CENCH are effective as from August 16, 2023, the transaction&#8217;s closing date.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company had a 55% interest in the
block; therefore, after the closing of the transaction, it reached a 100% interest in Rinc&oacute;n de Aranda.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As part of the CENCH's granting, the Company
committed to carry out a pilot program involving the completion of 1&nbsp;previously drilled well, as well as the drilling and completion
of 2 pads consisting of 8 wells, and the construction and adaptation of surface facilities, with an estimated US$ 161 million investment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>Exploration, Development and Production
Agreement, Las Tacanas North Block</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 30, 2023, Executive Order
No. 2,426/23 was published, approving the Exploration, Development and Production Agreement for the Las Tacanas Norte block entered into
between the Company and Gas y Petr&oacute;leo del Neuqu&eacute;n S.A. on November 24, 2023, under the Neuqu&eacute;n Exploratory Plan,
whereby the Company receives a 90% interest in the Las Tacanas Norte block for a 4-year exploratory period, to be operated by the Company
and with the commitment to carry out certain exploration tasks of hydrocarbon potential, including the execution of one vertical exploratory
well, scheduled for the first four-month period of the third year of the exploratory period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>Continuity plan in the Parva Negra
Este block</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 5, 2023, Executive Order No.
2,498/23 was published, approving Addendum II to the Joint Venture Agreement for the Parva Negra Este block, whereby ExxonMobil Exploration
Argentina S.R.L assigns to the Company its 42.50% interest in the Joint Venture.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It also approves the relinquishment of
50% of the block, a surface of 143 km2 therefore corresponding to the Concession. In turn, it approves the Lot Under Evaluation for the
3-year period from April 3, 2022 to April 2, 2025, including the commitment to execute 1 horizontal well targeting the Vaca Muerta formation,
with an associated investment of US$ 16 million, to be executed before September 30, 2024.</P>


<!-- Field: Page; Sequence: 96 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->90<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">5.5
Exploratory well costs</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table provides the year
end balances and activity for exploratory well costs, during the years ended December 31, 2023, 2022 and 2021:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white; width: 54%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 14%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 14%">12.31.2022</TD>
    <TD STYLE="text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 14%">12.31.2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: white; font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>At the beginning of the year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">37</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">42</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">50</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Increases</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">8</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Transferred to development</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(7)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(16)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Derecognition of unproductive wells&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(7)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>At the end of the year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">32</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">37</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">42</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Number of wells at the end of the year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">4</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">7</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; background-color: white">10</TD></TR>
  </TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 6</U>: RISKS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">6.1
Critical accounting estimates and judgments</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The preparation of financial statements
requires the Company&#8217;s Management to make future estimates and assessments, to apply critical judgment and to establish assumptions
affecting the application of accounting policies and the amounts of disclosed assets and liabilities, income and expenses.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The applied estimates and accounting judgments
are evaluated on a continuous basis and are based on past experiences and other reasonable factors under the existing circumstances. Actual
future results might differ from the estimates and evaluations made at the date of preparation of these Consolidated Financial Statements.
The estimates which have a significant risk of producing adjustments on the amounts of the assets and liabilities during the following
year are detailed below:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.1 <U>Impairment of non-financial long-lived
assets</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Non-financial long-lived assets, including
identifiable intangible assets and right-of-use assets, are reviewed for impairment at the lowest level for which there are separately
identifiable cash flows (CGU). For this purpose, each assets group with independent cash flows, each subsidiary, associate and each jointly
controlled company has been considered a single CGU, as all of their assets jointly contribute to the generation of cash inflows, which
are derived from a single service or product; thus cash inflows cannot be attributed to individual assets.</P>


<!-- Field: Page; Sequence: 97 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->91<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In order to evaluate if there is evidence
that a CGU could be affected, both external and internal sources of information are analyzed. Specific facts and circumstances are considered,
which generally include the discount rate used in the estimates of the future cash flows of each CGU and the business condition as regards
economic and market factors, such as the cost of inventories, oil and gas prices, international petrochemical product&#8217;s price, the
regulatory framework for the energy industry, the projected capital investments and the evolution of the energy demand.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The value in use of each CGU is estimated
on the basis of the present value of future net cash flows expected to be derived on the UGE. Management uses approved budgets up to one
year as the base for cash flow projections that are later extrapolated into a term consistent with the assets&#8217; remaining useful
life, taking into consideration the appropriate discount rates. The discount rates used to discount future net cash flows is the WACC,
for each CGU a specific WACC was determined which considered the business segment and the country conditions where the operations are
performed. In order to calculate the fair value less the costs of disposal, the Company Management uses the estimated value of the future
cash flows that a market participant could generate from the appropriate CGU, less the necessary costs to carry out the sale of the corresponding
CGU.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company Management is required to
make judgments at the moment of the future cash flow estimation. The actual cash flows and the values may differ significantly from the
expected future cash flows and the related values obtained through discount techniques.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.2 <U>Current and deferred Income tax</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s Management periodically
evaluates tax treatments affecting the determination of taxable profit regarding uncertain tax treatment under tax law considering the
acceptability of a particular tax treatment by the relevant taxation authority, and, if applicable, recognizes tax provisions to reflect
the effect of the uncertainty for each tax treatment based on the amount estimated to be paid to the tax authorities.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If the final tax resolution regarding
uncertain tax treatments differs from recognised figures, such differences will have an effect on income tax and deferred income tax at
the year of such determination.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Deferred tax asset is reviewed at each
reporting date and reduced in accordance with the probability that the sufficient taxable base will be available to allow and for the
total or partial recovery of these assets. In assessing the recoverability of deferred tax assets, Management considers if it is likely
that a portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets depends on the
generation of future taxable income in the periods in which these temporary differences become deductible. To make this assessment, Management
takes into consideration the scheduled reversal of deferred tax liabilities, the projections of future taxable income and tax planning
strategies.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The generation of future taxable profits
may differ from these estimated affecting the deductibility of deferred tax assets.</P>


<!-- Field: Page; Sequence: 98 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->92<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.3 <U>Provision for contingencies</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company is subject to various claims,
lawsuits and other legal proceedings that arise during the ordinary course of its business. The Company&#8217;s liabilities with respect
to such claims, lawsuits and other legal proceedings cannot be estimated with certainty. The Company reviews the status of each contingency
and assesses potential financial liability, applying the criteria indicated in Note 4.21, for which elaborates the estimates mainly with
the assistance of legal advisors, based on information available to the Management at Consolidated Financial Statements date, and taking
into account the litigation and resolution/settlement strategies.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Contingencies include outstanding lawsuits
or claims for possible damages to third parties in the ordinary course of the Company&#8217;s business, as well as third party claims
arising from disputes concerning the interpretation of legislation.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company evaluates whether there would
be additional expenses directly associated with the ultimate resolution of each contingency, which will be included in the provision if
they may be reasonably estimated.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The final resolutions of the litigation
could differ from Management's estimates, generating current provisions to be inadequate, which could have a material adverse effect on
the statement of financial position, comprehensive income, changes in equity and cash flows.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.4 <U>Asset retirement obligations
and decommissioning of wind turbines</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Asset retirement obligations in oil and
gas areas after completion of operations require the Company&#8217;s Management to estimate the number of wells, long-term well abandonment
costs and the time remaining until abandonment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the same way, the obligations related
to the decommissioning of wind turbines in wind farms require the Company&#8217;s Management to estimate long-term dismantling costs and
the time remaining until the dismantling.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Technology, costs and political, environmental
and safety considerations constantly change and may result in differences between actual future costs and estimates.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Asset retirement obligations&#8217; and
the decommissioning of wind turbines&#8217; estimates are adjusted at least once a year or more frequently if there are changes in the
assumptions considered in the assessment.</P>


<!-- Field: Page; Sequence: 99 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->93<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.5 <U>Impairment of financial assets
and other credits</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Group is exposed to losses for uncollectible
receivables. The Company Management estimates the final collectability of the accounts receivable.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The accounting of expected credit losses
for trade receivables and other receivables with similar risk characteristics is based on the Company's best estimate of the default risk
and the calculation of the expected credit losses rates, based on historical information of the behavior of the Company's clients, current
market conditions and forward-looking estimates at the end of each reporting period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In order to estimate collections related
to the sale of gas and energy in the spot market and revenues associated with natural gas production promotion plans, the Company mainly
considers CAMMESA&#8217;s and federal government&#8217;s capacity to meet its payment obligations to generators and producers, including
the resolutions issued by the SE, which allow the Company to collect its receivables through different mechanisms.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Future adjustments to the allowance may
be necessary if future real economic conditions differ substantially from the assumptions used in the assessment for each year.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.6 <U>Actuarial assumptions in defined
benefit plans</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Commitments with defined benefit plans
to employees are recognised as liabilities in the statement of financial position based on actuarial estimates revised annually by an
independent actuary, using the projected unit credit method.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The present value of defined benefit pension
plan depends on multiple factors that are determined according to actuarial estimates, net of the fair value of the plan assets, when
applicable. For this purpose, certain assumptions are used including the discount rate and wage growth rate assumptions. It may be necessary
to make adjustments in the future if future real economic conditions materially differ from the assumptions used in the valuation of each
year.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.7 <U>Oil and gas reserves</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Reserves include oil and gas volumes (in
m3 of oil equivalent) that are economically producible, in the areas where the Company operates or has a direct or an indirect interest
and over which the Company has exploration and exploitation rights.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">There are numerous uncertainties in estimating
proved and unproved reserves, future production profiles, development costs and prices, including several factors beyond the producer&#8217;s
control. Reserve engineering is a subjective process of estimating underground accumulations involving a certain degree of uncertainty.</P>


<!-- Field: Page; Sequence: 100 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->94<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Reserves estimates depend on the quality
of the available engineering and geological data as of the estimation date and on the interpretation and judgment thereof.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Periodic revisions and adjustments to
the estimated oil and gas reserves and related future net cash flows may be necessary as a result of changes in a number of factors, related
to reservoir performance, new drilling, oil and gas prices, cost, technological advances, new geological or geophysical data, and other
economic factors or at least once a year.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s estimates of oil and
gas reserves have been developed by the Company&#8217;s internal specialists, specifically petroleum engineers, and audited by independent
specialists engaged by Company.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company uses the information obtained
from the calculation of reserves in the determination of depreciation of properties, plant and equipment used in oil and gas areas, as
well as assessing the recoverability of these assets and including, when applicable, goodwill allocated to the oil and gas segment (see
Notes 4.6 to 4.9).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.8 <U>Environmental remediation</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The costs incurred to limit, neutralize
or prevent environmental pollution are only capitalized if at least one of the following conditions is met: (a) such costs relate to improvements
in safety; (b) the risk of environmental pollution is prevented or limited; or (c) the costs are incurred to prepare the assets for sale
and the book value of such assets does not exceed their respective recoverable value.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Liabilities related to future remediation
costs are recorded when, on the basis of environmental assessments, such liabilities are probable to materialize, and costs can be reasonably
estimated. The actual recognition and amount of these provisions are generally based on the Company&#8217;s commitment to an action plan,
such as an approved remediation plan or the sale or disposal of an asset. In general, the provision is recognised on the basis that a
future remediation commitment may be required.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company measures liabilities based
on its best estimation of present value of future costs, using currently available technology and applying current environmental laws
and regulations as well as the Company&#8217;s own internal environmental policies.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 101 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->95<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.9 <U>Fair value of financial assets
that are not traded in active markets</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The fair value of financial instruments
that are not traded in active markets is determined using valuation techniques. These valuation techniques consider estimates based on
information available to the Management at Consolidated Financial Statements date, for those significant variables that cannot be observed
in the market, including the discount rate, among others.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Future adjustments may be necessary if
future real economic conditions differ substantially from the assumptions used in the valuation for each period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.10 <U>Business Combinations</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The acquisition method involves the measurement
at fair value of the identifiable assets acquired and the liabilities assumed in the business combination at the acquisition date.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For the purpose to determine the fair
value of identifiable assets, the Company uses the valuation approach considered the most representative for each asset. These include:
i) the income approach, through indirect cash flows (net present value of expected future cash flows) or through the multi-period excess
earnings method, ii) the cost approach (replacement value of the good adjusted for loss due to physical deterioration, functional and
economic obsolescence) and iii) the market approach through comparable transactions method.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Likewise, in order to determine the fair
value of liabilities assumed, the Company&#8217;s Management considers the probability of cash outflows that will be required for each
contingency, and elaborates the estimates with assistance of legal advisors, based on the information available and taking into account
the strategy of litigation and resolution / liquidation.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Management critical judgment is required
in selecting the approach to be used and estimating future cash flows. Actual cash flows and values may differ significantly from the
expected future cash flows and related values obtained through the mentioned valuation techniques.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>6.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Financial risk management</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.2.1 <U>Financial Risk Factors</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s activities are subject
to several financial risks: market risk (including the exchange rate risk, the interest rate risk and the price risk), credit risk and
liquidity risk.</P>


<!-- Field: Page; Sequence: 102 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->96<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Financial risk management is encompassed
within the Company&#8217;s global policies, there is an integrated risk management methodology, where the focus is not placed on the individual
risks of the business units&#8217; operations, but there is rather a wider perspective focused on monitoring risks affecting the whole
portfolio. The Company&#8217;s risk management strategy seeks to achieve a balance between profitability targets and risk exposure levels.
Financial risks are those derived from financial instruments the Company is exposed to during or at the closing of each fiscal year. The
Company uses derivative instruments to hedge certain risks when it deems it necessary according to its risk management internal policies.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Financial risk management is controlled
by the Financial Department, which identifies, evaluates and covers financial risks. Risk management systems and policies are reviewed
on a regular basis to reflect changes in market conditions and the Company&#8217;s activities, and have been applied consistently during
the periods included in these Consolidated Financial Statements. This section includes a description of the main risks and uncertainties
which may adversely affect the Company&#8217;s strategy, performance, operational results and financial position.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.75in; text-align: justify; text-indent: -0.75in"><I>6.2.1.1
Market risks</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">6.2.1.1.1 Foreign exchange risk</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s results of operations
and financial position are exposed to changes in the exchange rate between the Company&#8217;s functional currency, which is the U.S.
dollar and other currencies, primarily with respect to the Argentine peso (which is the legal currency in Argentina). In some cases, the
Company may use derivative financial instruments to mitigate the associated exchange rate risk.<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In
fiscal year 2023, the U.S. dollar recorded an approximate 356.3 % increase against the Argentine peso, from $ 177.16 in December 2022
to $ 808.45 in December 2023, and taking into consideration that during the year the Company mostly had a net passive position in Argentine
pesos, as of December 31, 2023 the Company recorded net foreign exchange gain in the amount of US$ 123 million. Taking into account the
net active financial position in Argentine pesos as of December 31, 2023, the Company estimates that provided all other variables remain
constant, a 10% revaluation/(devaluation) of U.S. dollar as compared to the Argentine peso would generate in absolute values a (decrease)/increase
of US$ 6 million in the 2023 fiscal year&rsquo;s income, before income tax.<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Group&acute;s exposure to other foreign
currency movements is not material.</P>


<!-- Field: Page; Sequence: 103 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->97<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">6.2.1.1.2 Price risk</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s financial instruments
are not significantly exposed to hydrocarbon international price risks because the current regulatory, economic and governmental policies
in force, prevent oil and gas domestic prices to be directly affected in the short-term due to variations in the international market.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, the Company&#8217;s investments
in financial assets classified as &#8220;at fair value through profit or loss&#8221; are sensitive to the risk of changes in the market
prices resulting from uncertainties as to the future value of such financial assets.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company estimates that provided all
other variables remain constant, a 10% revaluation/(devaluation) of each market price would generate the following increase/(decrease)
in the fiscal year&#8217;s income, before income tax in relation to financial assets at fair value through profit and loss detailed in
Note 12.2 to these Consolidated Financial Statements:</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Increase of the result for the year</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 54%">Financial assets</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 20%">12.31.2023</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 20%">12.31.2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Shares</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">12</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">19</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">Government securities&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">39</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">28</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; background-color: white">Corporate Bonds</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">8</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">12</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Mutual funds</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Variation of the result of the year</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">59</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">62</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.2.1.1.3 Cash flow and fair value interest
rate risk</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The management of the interest rate risk
seeks to reduce financial costs and limit the Company&#8217;s exposure to interest rate increases.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Indebtedness at variable rates exposes
the Company to the interest rate risk on its cash flows due to the possible volatility they may experience. Indebtedness at fixed rates
exposes the Company to the interest rate risk on the fair value of its liabilities, since they may be considerably higher than variable
rates.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, 5% of the indebtedness
was subject to variable interest rates. Furthermore, 58% of the Company&#8217;s debt accruing variable interest rates is denominated in
U.S. dollars, mainly at SOFR rate plus an applicable spread. It should be pointed out that there has been no material impact on behalf
of the replacement of the LIBOR reference interest rate effective by the SOFR rate, as from July 2023, on the Company's indebtedness subject
to the mentioned reference rate.</P>


<!-- Field: Page; Sequence: 104 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->98<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company seeks to mitigate its interest-rate
risk exposure through the analysis and evaluation of: (i) the different liquidity sources available in the financial and capital market,
both domestic and (if available) international; (ii) interest rates alternatives (fixed or variable), currencies and terms available for
companies in a similar sector, industry and risk than the Company; (iii) the availability, access and cost of interest-rate hedge agreements.
On doing this, the Company evaluates the impact on profits or losses resulting from each strategy over the obligations representing the
main interest-bearing positions.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the case of fixed rates and in view
of the market&#8217;s current conditions, the Company considers that the risk of a significant decrease in interest rates is low and,
therefore, does not foresee a substantial risk in its indebtedness at fixed rates.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of the date of issuance of these Consolidated
Financial Statements, the Company is not exposed to a significant risk of variable interest rate increases since the 95% of the financial
debt is subject to fixed rate.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table shows the breakdown
of the Company&#8217;s borrowings classified by interest rate and the currency in which they are denominated:</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 54%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 20%">12.31.2023</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 20%">12.31.2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Fixed interest rate:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Argentine pesos</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">33</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">57</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>U.S. dollar</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,210</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,173</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Yuan R.China</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">5</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Subtotal loans obtained at a fixed interest rate</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">1,248</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">1,230</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Floating interest rate:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Argentine pesos</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">30</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">140</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>U.S. dollar</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">41</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">149</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Subtotal loans obtained at a floating interest rate</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">71</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">289</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Non interest accrued:</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Argentine pesos</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">11</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">22</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>U.S. dollar</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">118</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">72</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Subtotal loans no interest accrued</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">129</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">94</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total borrowings</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">1,448</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">1,613</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Based on the conducted simulations, and
provided all other variables remain constant, a 10% increase/decrease in variable interest rates would generate the following (decrease)/increase
in the 2023 fiscal year's income, before income tax, of US$ 4 million.</P>


<!-- Field: Page; Sequence: 105 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->99<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.75in; text-align: justify; text-indent: -0.75in"><I>6.2.1.2
Credit risk</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company establishes individual credit
limits according to the limits defined by the Board of Directors and approved by the Financial Department based on internal or external
ratings. The Company makes constant credit assessments on its customers&#8217; financial capacity, which minimizes the potential risk
for bad debt losses.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The credit risk represents the exposure
to possible losses resulting from the breach by commercial or financial counterparties of their obligations taken on with the Company.
This risk stems mainly from economic and financial factors or a possible counterparty default.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The credit risk is associated with the
Company&#8217;s commercial activity through customer trade receivables, as well as available funds and deposits in banking and financial
institutions.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company, in its ordinary course of
business and in accordance with its credit policies, grants credits to a large customer base, mainly large sectors of the industry, including
petrochemical companies, natural gas distributors and electricity large users.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, the Company&#8217;s
trade receivables totaled US$ 209 million and is classified as current. With the exception of CAMMESA, which represents approximately
48% of such trade receivables, the Company does not have a significant credit risk concentration, as this exposure is distributed among
a large number of customers and other counterparties.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The impossibility by CAMMESA to pay these
receivables may have a substantially adverse effect on cash income and, consequently, on the result of operations and financial situation
which, in turn, may adversely affect the Company&#8217;s repayment capacity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The credit risk of liquid funds and other
financial investments is limited since the counterparties are high credit quality banking institutions. If there are no independent risk
ratings, the Financial Department evaluates the customer&#8217;s creditworthiness, based on past experiences and other factors.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company applies the simplified approach
of IFRS 9 to measure the expected credit losses of trade receivables and other receivables in accordance with the policy described in
Note 4.10.4.</P>


<!-- Field: Page; Sequence: 106 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->100<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>:</B> (Continuation)<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The
expected credit loss on financial assets and trade receivables amounted to US$ 1 million as of December 31, 2023, 2022 and 2021 and was
determined based on credit loss rates calculated for days past due detailed below:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white; width: 28%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">Undue</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">30 days</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">60 days</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">90 days</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">120 days</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">150 days</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">180 days</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">+ 180 days</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Generation</TD>
    <TD STYLE="text-align: center">0.32%</TD>
    <TD STYLE="text-align: center">1.26%</TD>
    <TD STYLE="text-align: center">8.33%</TD>
    <TD STYLE="text-align: center">16.63%</TD>
    <TD STYLE="text-align: center">20.72%</TD>
    <TD STYLE="text-align: center">23.46%</TD>
    <TD STYLE="text-align: center">27.00%</TD>
    <TD STYLE="text-align: center">28.96%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Oil and Gas</TD>
    <TD STYLE="text-align: center">0.06%</TD>
    <TD STYLE="text-align: center">0.30%</TD>
    <TD STYLE="text-align: center">2.19%</TD>
    <TD STYLE="text-align: center">3.83%</TD>
    <TD STYLE="text-align: center">5.06%</TD>
    <TD STYLE="text-align: center">10.14%</TD>
    <TD STYLE="text-align: center">10.14%</TD>
    <TD STYLE="text-align: center">10.21%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Petrochemicals</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">28.96%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Holding</TD>
    <TD STYLE="text-align: center">0.18%</TD>
    <TD STYLE="text-align: center">1.04%</TD>
    <TD STYLE="text-align: center">8.44%</TD>
    <TD STYLE="text-align: center">9.09%</TD>
    <TD STYLE="text-align: center">9.09%</TD>
    <TD STYLE="text-align: center">9.09%</TD>
    <TD STYLE="text-align: center">9.09%</TD>
    <TD STYLE="text-align: center">9.09%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">12.31.2022</TD>
    <TD STYLE="font-weight: bold; text-align: center">Undue</TD>
    <TD STYLE="font-weight: bold; text-align: center">30 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">60 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">90 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">120 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">150 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">180 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">+ 180 days</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Generation</TD>
    <TD STYLE="text-align: center">0.08%</TD>
    <TD STYLE="text-align: center">0.26%</TD>
    <TD STYLE="text-align: center">2.54%</TD>
    <TD STYLE="text-align: center">7.11%</TD>
    <TD STYLE="text-align: center">14.37%</TD>
    <TD STYLE="text-align: center">21.39%</TD>
    <TD STYLE="text-align: center">27.22%</TD>
    <TD STYLE="text-align: center">33.01%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Oil and Gas</TD>
    <TD STYLE="text-align: center">0.18%</TD>
    <TD STYLE="text-align: center">0.48%</TD>
    <TD STYLE="text-align: center">13.24%</TD>
    <TD STYLE="text-align: center">31.50%</TD>
    <TD STYLE="text-align: center">32.01%</TD>
    <TD STYLE="text-align: center">32.09%</TD>
    <TD STYLE="text-align: center">32.31%</TD>
    <TD STYLE="text-align: center">32.38%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Petrochemicals</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Holding</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">12.31.2021</TD>
    <TD STYLE="font-weight: bold; text-align: center">Undue</TD>
    <TD STYLE="font-weight: bold; text-align: center">30 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">60 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">90 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">120 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">150 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">180 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">+ 180 days</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Generation</TD>
    <TD STYLE="text-align: center">0.06%</TD>
    <TD STYLE="text-align: center">0.29%</TD>
    <TD STYLE="text-align: center">2.08%</TD>
    <TD STYLE="text-align: center">2.83%</TD>
    <TD STYLE="text-align: center">4.67%</TD>
    <TD STYLE="text-align: center">6.12%</TD>
    <TD STYLE="text-align: center">6.24%</TD>
    <TD STYLE="text-align: center">6.25%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Oil and Gas</TD>
    <TD STYLE="text-align: center">0.04%</TD>
    <TD STYLE="text-align: center">0.17%</TD>
    <TD STYLE="text-align: center">0.77%</TD>
    <TD STYLE="text-align: center">2.72%</TD>
    <TD STYLE="text-align: center">6.88%</TD>
    <TD STYLE="text-align: center">19.88%</TD>
    <TD STYLE="text-align: center">21.97%</TD>
    <TD STYLE="text-align: center">15.89%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Petrochemicals</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.01%</TD>
    <TD STYLE="text-align: center">0.05%</TD>
    <TD STYLE="text-align: center">0.12%</TD>
    <TD STYLE="text-align: center">0.52%</TD>
    <TD STYLE="text-align: center">0.52%</TD>
    <TD STYLE="text-align: center">0.54%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Holding</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.01%</TD>
    <TD STYLE="text-align: center">0.05%</TD>
    <TD STYLE="text-align: center">0.12%</TD>
    <TD STYLE="text-align: center">0.52%</TD>
    <TD STYLE="text-align: center">0.52%</TD>
    <TD STYLE="text-align: center">0.54%</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, although cash, cash equivalents
and financial assets are also subject to the impairment requirements of IFRS 9, the identified impairment loss is immaterial.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Allowance of impairment of financial assets
and other credits evolution as of December 31, 2023, 2022 and 2021, is detailed in Note 12.3.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s maximum exposure to
credit risk is based on the book value of each financial asset in the Consolidated Financial Statements. On the basis of the change in
an assumption, while holding all other assumptions constant, a 5% increase/(decrease) in the estimated trade receivables&#8217; uncollectibility
rate would result in US$ 0.05 million (decrease)/increase in 2023 fiscal year&#8217;s results, before income tax.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.75in; text-align: justify; text-indent: -0.75in"><I>6.2.1.3
Liquidity risk</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The liquidity risk is associated with
the Company&#8217;s capacity to finance its commitments and conduct its business plans with stable financial sources, as well as with
the indebtedness level and the financial debt maturities profile. The cash flow projection is made by the Financial Department.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company Management supervises updated
projections on liquidity requirements to guarantee the sufficiency of cash and liquid financial instruments to meet operating and financing
needs of the Company while keeping at all times a sufficient margin of unused credit facilities. In this way, the aim is that the Company
does not breach indebtedness levels or the Covenants, applicable, of any credit facility. Those projections take into consideration the
Company&#8217;s debt financing plans, the meeting of the covenants and, if applicable, the external regulatory or legal requirements such
as, for example, restrictions on the use of foreign currency. Additionally, the Financial Department regularly monitors the available
credit for the Company, both in the local and international capital market as well as in the banking sector.</P>


<!-- Field: Page; Sequence: 107 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->101<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Excess cash and balances above working
capital management requirements are managed by the Company&#8217;s Treasury Department, which invests them in marketable securities, term
deposits and mutual funds, selecting instruments having proper currencies and maturities, and an adequate credit quality and liquidity
to meet cash needs estimated in the previously indicated projections.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company keeps its sources of financing
diversified between banks and the capital market, and it is exposed to the refinancing risk at maturity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It should be noted that the Company operates
in an economic context in which main variables experience volatility as a result of political and economic events both domestically and
internationally, as described in Note 1.2. that may potentially affect the cost of access to finance for emerging markets in general,
and particularly for Argentina, and which in turn may potentially affect the Company&#8217;s capacity to obtain financing for its operations
in a timely manner and under acceptable and efficient terms, costs and conditions in line with the Company&#8217;s business needs.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Furthermore, the restrictions imposed
by the BCRA (see Note 2.5) with the purpose of regulating inflows and outflows in the MLC and other new restrictions which may be imposed
in the future may affect the Company&#8217;s capacity to access the MLC to acquire the foreign currency necessary to meet its financial
obligations, such as debt principal and interest payments (including the CBs debt), and other additional payments abroad, or otherwise
affect the Company&#8217;s business and the results of its operations.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s Management permanently
monitors the evolution of situations affecting its business to determine possible steps to take and identify potential impacts on its
assets and financial position.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It is worth highlighting that the Company
currently has a strong level of liquidity that allows it to properly face such volatility.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The determination of the Company&#8217;s
liquidity index for fiscal years ended December 31, 2023 and 2022 is detailed below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 54%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 20%">12.31.2023</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 20%">12.31.2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Current assets</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,336</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,343</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Current liabilities</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right">521</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right">631</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Liquidity ratio</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">2.56</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">2.13</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table includes an analysis
of the Company trade receivables, other receivables and financial liabilities, grouped according to their maturity dates and considering
the period remaining until their contractual maturity date from the date of the Consolidated Financial Statements. Derivative financial
instruments are included in the analysis if their contractual maturities are essential for the understanding of the cash flow calendar.
The amounts shown in the table are the contractual undiscounted cash flows.</P>


<!-- Field: Page; Sequence: 108 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->102<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: left; width: 44%">As of December 31, 2023</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 16%">Trade and other receivables</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 16%">Trade and other payables <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 16%">Borrowings</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Less than three months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">261</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">223</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">63</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Three months to one year</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">13</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">15</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">236</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>One to two years</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">10</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">31</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">277</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Two to five years</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">6</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">6</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">907</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>More than five years</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">9</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">306</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Non set maturity term</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">24</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">314</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">284</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,789</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: left">As of December 31, 2022</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Trade and other receivables</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Trade and other payables <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Borrowings</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Less than three months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">412</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">231</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">289</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Three months to one year</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">19</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">50</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">361</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>One to two years</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">6</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">12</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Two to five years</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">12</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">3</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">313</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>More than five years</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">6</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2,102</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Non set maturity term</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">41</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">490</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">302</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">4,087</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt/115% Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Includes Lease Liabilities (see Note 19).</TD>
</TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>6.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Capital risk management</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The aims of managing capital are to safeguard
its capacity to continue operating as an on-going business with the purpose of generating return for its shareholders and benefits to
other stakeholders, and keeping an optimal capital structure to reduce the cost of capital.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">To keep or adjust its capital structure,
the Company may adjust the amount of the dividends paid to its shareholders, reimburse capital to its shareholders, issue new shares,
conduct stock repurchase programs or sell assets to reduce its debt.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In line with industry practices, the Company
monitors its capital based on the leverage ratio. This ratio is calculated by dividing the net debt by the total capital. The net debt
equals the total indebtedness (including current and non-current indebtedness) minus cash and cash equivalents and current financial assets
at fair value through profit and loss. The total capital corresponds to the shareholders&#8217; equity as shown in the statement of financial
position, plus the net debt.</P>


<!-- Field: Page; Sequence: 109 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->103<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Financial leverage ratios as at December
31, 2023 and 2022 were as follows:</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; width: 54%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 20%">12.31.2023</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 20%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Total borrowings</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,448</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,613</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Less: cash and cash equivalents, and financial assets at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(730)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(692)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Net debt</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">718</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">921</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Total capital</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3,122</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3,198</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left">Leverage ratio</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">23.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">28.80%</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 7</U>: SEGMENT INFORMATION</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company is a fully integrated power
company in Argentina, which participates in the electricity and oil and gas value chains.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Through its own activities, subsidiaries
and share holdings in joint ventures, and based on the business nature, customer portfolio and risks involved, the following business
segments have been identified:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>Electricity Generation</B>, principally
consisting of the Company&rsquo;s direct and indirect interests in HINISA, HIDISA, Greenwind, VAR, CTB, TMB, TJSM and through its own
electricity generation activities through thermal plants CTG, CPB, Piquirenda, CTLL, CTGEBA, Ecoenerg&iacute;a, CTPP, CTIW, the HPPL hydroelectric
complex and PEPE II, PEPE III and PEPE IV wind farms. It is worth highlighting that the results of the segment&rsquo;s operations reflect
the effects of the consolidation with Greenwind from August 12, 2022 to August 16, 2023 (see Notes 5.2.3 and 5.2.6) and with VAR as from
December 16, 2022 (see Note 5.2.5).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>Electricity Distribution</B>, consisting
of the Company&rsquo;s direct interest in Edenor until its disposal (see Note 5.2.1). As of December 31, 2021, the Company has classified
the related <FONT STYLE="color: #222222">results as discontinued operations</FONT>.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>Oil and Gas</B>, principally consisting
of the Company&rsquo;s interests in oil and gas areas and through its direct and indirect interest in CISA.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>Petrochemicals</B>, comprising of the
Company&rsquo;s own styrenics operations and the catalytic reformer plant operations conducted in local plants.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>Holding and Other Business</B>, principally
consisting of interests in joint businesses CITELEC and CIESA and their respective subsidiaries, which hold the concession over the high
voltage electricity transmission nationwide and over gas transportation in the South of the country, respectively, interests in the associates
OCP and Refinor (until its divestment detailed in Note 5.2.2), holding activities and financial investment transactions.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company manages its operating segment
based on its individual net result in U.S. dollars.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 110 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->104<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 7</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/1pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-bottom: Black 0.5pt solid; text-align: center">in million of US$</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left; width: 44%">Consolidated profit and loss information for the year ended December 31, 2023</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Generation</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 9%">Oil and gas</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 9%">Petrochemicals</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 9%">Holding and others</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Eliminations</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 9%">Consolidated</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Revenue - local market</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">648</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">402</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">359</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">14</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,423</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Revenue - foreign market</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">161</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">148</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">309</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Intersegment revenue</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">103</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(103)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Cost of sales</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(354)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(412)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(444)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">103</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,107)</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: bottom">Gross profit</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">294</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">254</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">63</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">14</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">625</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Selling expenses</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(49)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(15)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(66)</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Administrative expenses</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(50)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(74)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(55)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(185)</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Exploration expenses</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(7)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(7)</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Other operating income</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">75</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">86</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">13</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">177</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Other operating expenses</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(27)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(32)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(7)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(22)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(88)</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">(Impairment) Recovery of impairment of property, plant and equipment, intangible assets and inventories</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(38)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(39)</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Share of profit from associates and joint ventures</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(18)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">16</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Profit from sale of companies&acute; interest</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">9</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">9</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: bottom">Operating income</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">272</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">140</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">45</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(33)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">424</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Financial income</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Financial costs</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(119)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(203)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(45)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(364)</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Other financial results</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">280</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(15)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">15</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">278</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">558</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Financial results, net</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">163</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(216)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">12</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">240</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">199</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: bottom">Profit before income tax</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">435</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(76)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">57</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">207</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">623</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Income tax</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(225)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">29</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(27)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(95)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(318)</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: middle">Profit (Loss) of the year</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">210</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(47)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">30</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">112</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">305</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Depreciation and amortization</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">96</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">166</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">267</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 111 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->105<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 7</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">in million of US$</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: left; width: 44%">Consolidated profit and loss information for the year ended December 31, 2023</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Generation</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 9%">Oil and gas</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 9%">Petrochemicals</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 9%">Holding and others</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Eliminations</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 9%">Consolidated</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: middle">Total profit (loss) of the year attributable to:</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Owners of the company</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">207</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(47)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">30</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">112</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">302</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Non-controlling interest</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid">Consolidated financial position information as of Dcember 31, 2023</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Assets</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,684</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,396</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">157</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">631</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(146)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,722</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Liabilities</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">729</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,213</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">137</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">376</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(146)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,309</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Net book values of property, plant and equipment&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,345</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,138</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">27</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">34</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,544</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid">Additional consolidated information as of December 31, 2023</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Increases in property, plant and equipment and right-of-use assets</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">259</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">556</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">827</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 112 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->106<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 7</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD COLSPAN="12" STYLE="border-bottom: Black 1pt solid; text-align: center">in million of US$</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left; background-color: white; width: 40%">Consolidated profit and loss information for the year ended December 31, 2022</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 8%">Generation</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 8%">Oil and gas</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">Petrochemicals</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 11%">Holding and others</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Eliminations</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">Consolidated</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Revenue - local market</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">663</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">370</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">425</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">20</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,478</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Revenue - foreign market</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">159</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">192</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">351</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Intersegment revenue</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">117</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(117)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Cost of sales</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(370)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(350)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(536)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">117</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,139)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Gross profit</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">293</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">296</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">81</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">20</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">690</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Selling expenses</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(45)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(17)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(65)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Administrative expenses</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(39)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(60)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(5)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(38)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(142)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Other operating income</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">25</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">61</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">44</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">131</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Other operating expenses</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(5)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(26)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(9)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(46)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Impairment of property, plant and equipment, intangible assets and inventories</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(30)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(38)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Impairment of financial assets</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(4)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Share of profit from associates and joint ventures</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">65</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">40</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">105</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Operating income</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">336</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">194</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">52</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">49</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">631</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Financial income</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">9</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(7)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Financial costs</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(82)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(107)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(36)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(221)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Other financial results</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">72</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(28)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">116</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">166</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Financial results, net</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(9)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(133)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">3</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">89</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(50)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Profit before income tax</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">327</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">61</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">55</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">138</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">581</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Income tax</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(73)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(16)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(15)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(20)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(124)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Profit of the year</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">254</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">45</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">40</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">118</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">457</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Depreciation and amortization</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">82</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">125</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">212</TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 113 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->107<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 7</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="12" STYLE="border-bottom: Black 1pt solid; text-align: center">in million of US$</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left; background-color: white; width: 40%">Consolidated profit and loss information for the year ended December 31, 2022</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 8%">Generation</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 8%">Oil and gas</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">Petrochemicals</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 11%">Holding and others</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Eliminations</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">Consolidated</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Total profit of the year attributable to:</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Owners of the company</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">253</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">45</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">40</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">118</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">456</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Non-controlling interest</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left; background-color: white">Consolidated financial position information as of December 31, 2022</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Assets</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,464</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,234</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">177</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,029</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(162)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,742</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Liabilities</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">979</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,248</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">147</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">245</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(161)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,458</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Net book values of property, plant and equipment</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,299</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">807</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">24</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">34</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2,164</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-decoration: underline; vertical-align: bottom">Additional consolidated information as of December 31, 2022</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Increases in property, plant and equipment, intangibles assets and right-of-use assets <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8.7pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">115</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">324</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">7</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">36</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">482</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">It does not include US$ 389 million for the incorporation of
assets related to the acquisition of the equity interests detailed in Notes 5.2.3 and 5.2.5.</FONT></TD>
</TR></TABLE>


<!-- Field: Page; Sequence: 114 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->108<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 7</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; text-align: center">in million of US$</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left; width: 41%">Consolidated profit and loss information for the year ended December 31, 2021</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Generation</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 8%">Distribution<BR>
of energy</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Oil and gas</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 9%">Petrochemicals</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Holding and others</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Eliminations</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Consolidated</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Revenue - local market</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">656</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">282</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">310</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">22</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,270</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Revenue - foreign market</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">58</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">180</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">238</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Intersegment revenue</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">113</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(113)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Cost of sales</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(355)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(285)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(424)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">113</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(951)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold; text-align: left">Gross profit</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">301</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">168</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">66</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">22</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">557</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Selling expenses</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(22)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(13)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(37)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Administrative expenses</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(31)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(46)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(4)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(21)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(102)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Other operating income</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">42</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">58</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">4</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">105</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Other operating expenses</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(5)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(28)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(22)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(58)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Impairment of intangible assets and inventories</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(4)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Recovery of impairment of financial assets</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Share of profit from associates and joint ventures</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">47</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">53</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">100</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Profit from acquisition of companies&acute; interest&nbsp;&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">17</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">17</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold; text-align: left">Operating income&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">350</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">130</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">45</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">54</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">579</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Financial income</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">4</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">4</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">10</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Financial costs</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(46)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(103)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(34)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(185)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Other financial results</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(14)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(16)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">18</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(14)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Financial results, net</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(56)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(116)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(5)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(12)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(189)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold; text-align: left">Profit before income tax</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">294</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">14</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">40</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">42</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">390</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Income tax</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(75)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">8</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(12)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(77)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold; text-align: left">Profit of the year from continuing operations</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">219</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">22</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">28</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">44</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">313</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Loss of the year from discontinued operations</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(75)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(75)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold; text-align: left">Profit (loss) of the year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">219</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(75)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">22</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">28</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">44</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">238</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Depreciation and amortization</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">88</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">114</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">205</TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 115 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->109<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 7</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 0.5pt solid">in million of US$</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left; background-color: white; width: 41%">Consolidated profit and loss information for the year ended December 31, 2021</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Generation</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 8%">Distribution<BR>
of energy</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Oil and gas</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 9%">Petrochemicals</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Holding and others</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Eliminations</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Consolidated</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Total profit (loss) of the year attributable to:</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Owners of the company</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">218</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(39)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">22</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">28</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">44</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">273</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Non-controlling interest</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(36)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(35)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: left; background-color: white">Consolidated financial position information as of December 31, 2021</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Assets</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,670</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,157</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">176</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,067</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(209)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">3,861</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Liabilities</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">525</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,324</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">166</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">264</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(209)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2,070</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Net book values of property, plant and equipment</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">969</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">636</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">22</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">32</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,659</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left; background-color: white">Additional consolidated information as of December 31, 2021</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Increases in property, plant and equipment, intangible assets and right-of-use assets</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">39</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">213</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">6</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">6</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">264</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 116 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->110<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 8</U>: REVENUE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: justify; background-color: white; width: 49%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">12.31.2023</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">12.31.2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Energy sales in Spot Market</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">196</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">210</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">167</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Energy sales by supply contracts</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">363</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">346</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">380</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Fuel supply</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">87</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">103</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">104</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Other sales</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">Generation sales subtotal</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">648</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">663</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">656</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Gas sales</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">432</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">383</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">231</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Oil sales</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">121</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">136</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">99</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Other sales</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">10</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">10</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">10</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">Oil and gas sales subtotal</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">563</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">529</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">340</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Products from catalytic reforming sales</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">217</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">270</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">185</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Styrene sales</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">79</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">96</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">84</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Synthetic rubber sales</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">78</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">106</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">99</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Polystyrene sales</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">131</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">141</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">119</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Other sales</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">Petrochemicals sales subtotal</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">507</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">617</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">490</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Technical assistance and administration services sales</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">14</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">20</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">22</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Other</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">Holding and others subtotal</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">14</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">20</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">22</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total revenue <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right">1,732</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">1,829</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">1,508</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD><FONT STYLE="font-size: 9pt">Revenues from CAMMESA represent 33%, 31% and 38% of total revenues for the fiscal
years ended December&nbsp;31, 2023, 2022 and 2021, respectively, and correspond mainly to the Generation and Oil &amp; Gas segments.</FONT></TD></TR></TABLE>


<!-- Field: Page; Sequence: 117 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->111<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 9</U>: COST OF SALES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white; width: 49%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 14%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 14%">12.31.2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 14%">12.31.2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">Inventories at the beginning of the year</TD>
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">173</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">155</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">116</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">Plus: Charges of the year</TD>
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Purchases of inventories, energy and gas&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">411</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">502</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">433</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Salaries and social security charges</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">85</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">79</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">59</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Employees benefits</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">17</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">15</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">13</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Defined benefit plans</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: middle; background-color: white">Works contracts, fees and compensation for services</TD>
    <TD STYLE="vertical-align: middle; text-align: right">111</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">97</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">73</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Property, plant and equipment depreciation</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">254</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">202</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">194</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Intangible assets amortization</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Right-of-use assets amortization</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Energy transportation</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">9</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">8</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">6</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Transportation and freights</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">20</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">16</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">13</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Consumption of materials</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">27</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">30</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">26</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Penalties</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Maintenance</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">47</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">61</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">52</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Canons and royalties</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">92</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">89</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">65</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Environmental control</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Rental and insurance</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">31</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">31</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">27</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Surveillance and security</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Taxes, rates and contributions</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Other</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">3</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">3</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">6</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Total charges of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,139</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,157</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">990</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"></TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Less: Inventories at the end of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(205)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(173)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(155)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Total cost of sales</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,107</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,139</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">951</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 118 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->112<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 10</U>: OTHER ITEMS OF THE STATEMENT OF COMPREHENSIVE
INCOME</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">10.1 Selling expenses</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 48%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 14%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 14%">12.31.2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 14%">12.31.2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Salaries and social security charges</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">5</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">5</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Employees benefits</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Fees and compensation for services</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">3</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Taxes, rates and contributions</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">13</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">14</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">11</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Transportation and freights</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">43</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">40</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">18</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Other</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Total selling expenses</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">66</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">65</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">37</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">10.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT>Administrative expenses</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 48%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 14%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 14%">12.31.2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 14%">12.31.2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Salaries and social security charges</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">58</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">50</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">34</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Employees benefits</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">10</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">8</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Defined benefit plans</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">18</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">9</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">7</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Fees and compensation for services</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">29</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">30</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">32</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Compensation agreements</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">37</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">19</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Directors' and Sindycs' fees&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Property, plant and equipment depreciation</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">7</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">6</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Maintenance</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Transport and per diem</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Rental and insurance</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Surveillance and security</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Taxes, rates and contributions</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right">8</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">6</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Communications</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Other</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right">4</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Total administrative expenses</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">185</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">142</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">102</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">10.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT>Exploration expenses</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 48%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 14%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 14%">12.31.2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 14%">12.31.2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Derecognition of unproductive wells&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(7)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Total exploration expenses</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(7)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">-</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 119 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->113<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 10</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>10.4 Other operating income and expenses</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white; width: 47%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Note</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 14%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 14%">12.31.2022</TD>
    <TD STYLE="text-align: center; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 14%">12.31.2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-decoration: underline">Other operating income</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Insurance recovery</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">3</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Services provided to third parties</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Results from property, plant and equipment sale and derecognition</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">2</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Result from intangible assets sale</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">2</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Expenses recovery</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">8</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Contingencies recovery</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">13</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Tax charges recovery</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Contractual indemnity</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">7</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Commercial interests</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">70</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">27</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">27</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">GasAr Plan</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">55</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">56</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">51</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Compensation for arbitration award <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">37</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Fair value of consortiums' previous interest&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">5.2.6</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">7</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Export Increase Program</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">24</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle">Other</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Total other operating income</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">177</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">131</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">105</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle">Other operating expenses</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Provision for contingencies</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(8)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(4)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(16)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Provision for environmental remediation</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(4)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(15)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Results for property, plant and equipment sale and derecognition</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Tax on bank transactions&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(18)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(14)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(13)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">PAIS import tax</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(5)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Donations and contributions</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(2)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(2)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Institutional promotion</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(4)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(3)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(3)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Costs of concessions agreements completion</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(5)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Contractual penalty</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(7)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Readjustment of investment plan <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">&nbsp;</FONT></TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(9)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Royalties GasAr Plan</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(8)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(8)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(5)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Ecuador's transactional agreement&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(5)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Impairment of other receivables</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(5)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Other contractual expenses</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Other</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(8)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(6)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(4)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Total other operating expenses</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(88)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(46)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(58)</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Corresponding to the final award rendered on August 3, 2022 by the Arbitration Court partially upholding EcuadorTLC&rsquo;s (currently
PB18) claim against Petroecuador for certain breaches of the transportation agreement executed on December 31, 2008.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(2)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Corresponding to the investment plan&#8217;s readjustment bond at the Sierra Chata block
approved by Provincial Executive Order No. 1,262/22 dated June 29, 2022.</TD>
</TR></TABLE>

<P STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 120 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->114<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 10</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>10.5 Financial results</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white; width: 48%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center; width: 5%"></TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 14%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 14%">12.31.2022</TD>
    <TD STYLE="text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 14%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; background-color: white">Financial income</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Financial interests&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">2</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Other interests</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">3</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">10</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Total financial income</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">5</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">5</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">10</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; background-color: white">Financial costs</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Financial interests <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(304)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(172)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(137)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Commercial interests</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(1)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Fiscal interests</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(47)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(38)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(38)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Other interests</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(4)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(5)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Bank and other financial expenses</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(8)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(5)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(7)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Total financial costs</TD>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; background-color: white"><U></U></TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(364)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(221)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(185)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; background-color: white">Other financial results</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Foreign currency exchange difference, net</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">123</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">80</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Changes in the fair value of financial instruments</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">444</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">110</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(15)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Result from present value measurement</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(10)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(14)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Result from exchange of CB</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(14)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Result from repurchase of CB</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Other financial results</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Total other financial results</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">558</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">166</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(14)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Total financial results, net</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; background-color: white">199</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right">(50)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right">(189)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">Net of US$ 21 million and US$ 11 million borrowing costs capitalized in property, plant and equipment for the years ended December 31, 2023
and 2022, respectively. There are no capitalized borrowing costs in the fiscal year ended December 31, 2021.</FONT></TD></TR></TABLE>


<!-- Field: Page; Sequence: 121 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->115<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify"><B><U>NOTE 10</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>10.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT>Income tax</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">The breakdown of income tax charge is:</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; width: 48%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 14%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 14%">12.31.2022</TD>
    <TD STYLE="text-align: center; vertical-align: middle; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 14%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Current tax&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">19</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">99</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">67</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Deferred tax&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">272</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">46</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">10</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Difference between previous fiscal year income tax provision and the income tax statement</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">27</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(21)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Total income tax -&nbsp;&nbsp;Loss</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">318</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">124</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">77</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Below is a reconciliation between income tax expense and the amount resulting
from application of the tax rate on the income before taxes:</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; width: 48%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 14%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 14%">12.31.2022</TD>
    <TD STYLE="text-align: center; vertical-align: middle; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 14%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Profit before income tax</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">623</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">581</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">390</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Current income tax rate</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">35%</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">35%</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">35%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Income tax at the statutary tax rate</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">218</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">203</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">138</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Share of profit from companies</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(37)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(40)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Non-taxable results</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(17)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Effects of exchange differences and other results associated with the valuation of the currency, net</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">752</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">275</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">79</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Effects of valuation of property, plant and equipment, intangible assets and financial assets</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,146)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(575)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(269)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Effect of change in tax rate&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Effect for tax inflation adjustment</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">501</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">253</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">169</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Unrecognized deferred assets</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Difference between previous fiscal year income tax and deferred tax provision
    and the income tax statement</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Non-deductible cost</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">9</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Impairment on deferred tax assets</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Other</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Total income tax -&nbsp;&nbsp;Loss</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">318</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">124</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">77</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 122 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->116<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 11</U>: NON-FINANCIAL ASSETS AND LIABILITIES</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>11.1 Property, plant and equipment</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-bottom: Black 0.5pt solid; text-align: center">Original values</TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 34%">Type of good</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 10%">At the beginning&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 10%">Increases <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11.7pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white; width: 10%">Transfers</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white; width: 9%">Decreases</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white; width: 10%">Impairment</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white; width: 10%">At the end&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Lands</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">14</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">14</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Buildings</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">143</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(2)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">144</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Equipment and machinery</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,916</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">175</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(132)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,960</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Wells</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">992</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">15</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">358</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(21)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(149)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,195</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Mining property</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">181</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">21</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">15</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(19)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">198</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Vehicles</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">10</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(2)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">11</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Furniture and fixtures and software equipment</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">59</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">62</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Communication equipments</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(2)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Materials, spare parts and tools</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">36</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">93</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(85)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">44</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Petrochemical industrial complex</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">29</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">32</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Civil works</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">22</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">24</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Work in progress</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">254</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">547</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(381)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">420</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Advances to suppliers</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">43</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">134</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(113)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">64</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">Total at 12.31.2023</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">3,683</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">814</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(160)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(168)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">4,169</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left">Total at 12.31.2022</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">3,040</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">745</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(2)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(100)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">3,683</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt; color: #222222">Includes US$ 21 million and U$S 11 million corresponding to capitalized
financial costs in the fiscal year ended December 31, 2023 and 2022.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt">Additionally, as of December 31, 2022, it includes <FONT STYLE="color: #222222">U$S
</FONT>295 million resulting from the incorporation of assets related to the acquisition of the equity interests detailed in Notes 5.2.3
and 5.2.5.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 123 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->117<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="9" STYLE="border-bottom: Black 0.5pt solid; text-align: center">Depreciation</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 0.5pt solid; text-align: center">Net book values</TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 30%">Type of good</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 9%">At the beginning&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 9%">Decreases&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 9%">For the year <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 8%">Impairment</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white; width: 9%">At the end</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white; width: 9%">At 12.31.2023 <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white; width: 9%">At 12.31.2022</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Lands</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">14</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">14</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Buildings</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(76)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(7)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(83)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">61</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">67</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Equipment and machinery</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(639)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">14</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(123)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(748)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,212</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,277</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Wells</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(589)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">10</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(112)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">113</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(578)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">617</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">403</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Mining property</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(134)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(7)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">17</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(124)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">74</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">47</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Vehicles</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(8)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(1)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(8)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">3</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Furniture and fixtures and software equipment</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(52)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(5)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(57)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">5</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">7</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Communication equipments</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(1)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Materials, spare parts and tools</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(3)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">41</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">33</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Petrochemical industrial complex</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(17)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(5)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(22)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">10</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">12</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Civil works</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">23</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Work in progress</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">420</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">254</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Advances to suppliers</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">64</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">43</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">Total at 12.31.2023</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(1,519)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">25</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(261)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">130</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(1,625)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">2,544</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left">Total at 12.31.2022</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(1,381)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(208)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">70</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(1,519)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">2,164</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD><FONT STYLE="font-size: 9pt">As of December 31, 2023, the composition of the segments is as follows: Generation: US$ 90 million; Oil
and gas: US$ 166&nbsp;million; and Petrochemicals: US$ 5&nbsp;million.</FONT></TD></TR></TABLE>


<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 124 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->118<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">11.1.1 <U>Impairment of Property, plant and
equipment</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company regularly monitors the existence
of events or changes in circumstances which may indicate that the book value of property, plant and equipment may not be recoverable in
accordance with the policy described in Notes 4.9 and 6.1.1.<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In
the Generation segment, as of December 31, 2023, 2022 and 2021, the Company did not identify indications that could impact the assumptions
considered in the recoverability assessment performed as of June 30, 2021. It is worth highlighting that the Company has not recorded
any property, plant and equipment impairment losses as a result of that recoverability assessment; however, intangible asset impairment
losses were recognized for the HIDISA plant in the amount of US$ 2 million.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023 and June 30, 2022, due to Company&#8217;s
strategic reasons and aiming to focus its investments in the development and exploitation of its unconventional gas and oil reserves
in the Vaca Muerta formation, the Company, in line with the affected block&#8217;s Joint Venture members&#8217; strategy, decided to
reschedule or suspend certain future drilling and workover activities for the next few years, which involved the recategorization of
reserves to contingent resources.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In view of the above-mentioned indications
of impairment, the Company has determined the recoverable amount of the CGU Rinc&oacute;n del Mangrullo and el Tordillo / la Tapera making
up the Oil &amp; Gas segment as of December 31, 2023 and June 30, 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The methodology used in the estimation
of the recoverable amount consisted on calculating each CGU value in use on the present value of future net cash flows expected to be
generated by the CGU, discounted with a rate reflecting the weighted average costs of the invested capital.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Cash flows were prepared based on estimates
on the future behavior of certain key assumptions for the determination of the value in use, including the following: (i) reference prices
for products; (ii) demand projections per type of product; (iii) costs evolution; and; (iv) macroeconomic variables such as inflation
and exchange rates, etc.</P>


<!-- Field: Page; Sequence: 125 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->119<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>Oil &amp; Gas segment</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023 and June 30, 2022,
the recoverability assessment of the affected CGU of the Oil and Gas segment, resulted in the recognition of impairment losses for U$S
37.7 million in the Rinc&oacute;n del Mangrullo and el Tordillo / la Tapera blocks and US$ 30 million in the Rinc&oacute;n del Mangrullo
block, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The key assumptions used to calculate
the recoverable amount considered: i) the reschedule or suspension of drilling and workover activities; and ii) a 12.2% and 12.4% after-tax
WACC rate, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, it is important to highlight
that as of December 31, 2023 and 2022, the book value of the Oil and gas segment assets, including the goodwill assigned to the segment,
does not exceed its recoverable value.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 126 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->120<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>11.2 Intangible assets</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Original values</TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; width: 39%">Type of good</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 11%">At the beginning</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 11%">Increases <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; width: 11%">Decreases</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 11%">Impairment <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 11%">At the end</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Concession agreements</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Goodwill</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">35</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">35</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Intangible identified in acquisitions of companies</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">101</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(30)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">71</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Digital assets</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(9)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">2</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left">Total at 12.31.2023</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">145</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(39)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">2</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">108</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">Total at 12.31.2022</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">44</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">125</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">(18)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">(6)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">145</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="8" STYLE="border-bottom: Black 0.5pt solid; text-align: center">Amortization</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">Type of good</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">At the beginning</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">For the year</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white">Impairment <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white">At the end</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Concession agreements</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(2)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Intangible identified in acquisitions of companies</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(5)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(5)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(10)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left">Total at 12.31.2023</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(7)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(5)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(12)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">Total at 12.31.2022</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(6)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">(1)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">(7)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Net book values</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">Type of good</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; text-align: center; border-top-color: Black; border-top-width: 0.5pt">At 12.31.2023</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">At 12.31.2022</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Goodwill</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">35</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">35</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Intangible identified in acquisitions of companies</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">61</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">96</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Digital assets</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">7</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left">Total at 12.31.2023</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">96</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">Total at 12.31.2022</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">138</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/50% Times New Roman, Times, Serif; margin: 12pt 0 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 8pt"><SUP>(1)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt">As of December 31, 2022, it includes US$ 94 million for the incorporation
of assets from the acquisition of equity interests detailed in Notes 5.2.3 and 5.2.5.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 8pt"><SUP>(2)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt">The sale of the digital assets at market price resulted in the recording of an impairment recovery for
US$&nbsp;2&nbsp;million as of December 31, 2023. As of December 31, 2022, the recoverability of the digital assets was affected by their
market value at closing, resulting in the recording of impairment losses for US$ 6&nbsp;million.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/50% Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>


<!-- Field: Page; Sequence: 127 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->121<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0"><B>11.3 Deferred tax assets and liabilities</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0">The composition of the deferred tax assets and liabilities
is as follows:</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 44%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 13%">12.31.2022</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 13%">Profit (loss)</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">Sale of subsidiary</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 13%">12.31.2023</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Tax loss carryforwards</TD>
    <TD STYLE="text-align: right; background-color: white">19</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">125</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">144</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Property, plant and equipment</TD>
    <TD STYLE="text-align: right; background-color: white">151</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(151)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Trade and other receivables</TD>
    <TD STYLE="text-align: right; background-color: white">4</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Provisions</TD>
    <TD STYLE="text-align: right; background-color: white">59</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(6)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">53</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Salaries and social security payable&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Defined benefit plans</TD>
    <TD STYLE="text-align: right; background-color: white">8</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(6)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Other</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">Deferred tax asset</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">243</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(42)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">2</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">203</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Property, plant and equipment</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(79)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(188)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">45</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(222)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Intangible assets</TD>
    <TD STYLE="text-align: right; background-color: white">(35)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(34)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Investments in companies</TD>
    <TD STYLE="text-align: right; background-color: white">(8)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(7)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Inventories</TD>
    <TD STYLE="text-align: right; background-color: white">(19)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(26)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(45)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="text-align: right; background-color: white">(15)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(18)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Trade and other receivables</TD>
    <TD STYLE="text-align: right; background-color: white">(23)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">12</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(10)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Taxes payables</TD>
    <TD STYLE="text-align: right; background-color: white">(2)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Tax inflation adjustment</TD>
    <TD STYLE="text-align: right; background-color: white">(138)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(28)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">3</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(163)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Other</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="font-weight: bold; text-align: left">Deferred tax liability</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">(319)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">(230)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">49</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">(500)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Deferred tax (liability) asset</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(76)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(272)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">51</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(297)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt; line-height: 115%"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 128 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->122<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 43%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 13%">12.31.2021</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 13%">Profit (loss)</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 13%">Increases&nbsp;&nbsp;for incorporation</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 13%">12.31.2022</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: left">Tax loss carryforwards</TD>
    <TD STYLE="text-align: right">13</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">6</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">19</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: left">Property, plant and equipment</TD>
    <TD STYLE="text-align: right">80</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">71</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">151</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: left">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="text-align: right">3</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: left">Trade and other receivables</TD>
    <TD STYLE="text-align: right">5</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: left">Provisions</TD>
    <TD STYLE="text-align: right">57</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">59</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: left">Salaries and social security payable&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: left">Defined benefit plans</TD>
    <TD STYLE="text-align: right">9</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">8</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: left">Other</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="font-weight: bold">Deferred tax asset</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">167</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">76</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">243</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Property, plant and equipment</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(79)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(79)</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: left">Intangible assets</TD>
    <TD STYLE="text-align: right">(13)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(22)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(35)</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: left">Investments in companies</TD>
    <TD STYLE="text-align: right">(11)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(8)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Inventories</TD>
    <TD STYLE="text-align: right; background-color: white">(10)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(9)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(19)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="text-align: right; background-color: white">(14)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(1)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(15)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Trade and other receivables</TD>
    <TD STYLE="text-align: right; background-color: white">(31)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">8</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(23)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Taxes payables</TD>
    <TD STYLE="text-align: right; background-color: white">(3)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(2)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Tax inflation adjustment</TD>
    <TD STYLE="text-align: right; background-color: white">(1)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(124)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(13)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(138)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Deferred tax liability</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right; background-color: white">(83)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right; background-color: white">(122)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right; background-color: white">(114)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(319)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Deferred tax asset (liability)</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">84</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(46)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(114)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(76)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Deferred tax assets and liabilities are
offset in the following cases: a) when there is a legally enforceable right to offset tax assets and liabilities; and b) when deferred
income tax charges are associated with the same fiscal authority. The following table shows the figures disclosed on the Consolidated
Statement of Financial Position, which for its determination, were adequately compensated:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 60%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 19%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 19%">12.31.2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Deferred tax asset</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">36</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Deferred tax liability</TD>
    <TD STYLE="text-align: right; background-color: white">(297)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(112)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Deferred tax liability&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(297)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(76)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 129 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->123<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>11.4 Inventories</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; background-color: white; width: 56%"><U></U></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2023</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left">Current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Materials and spare parts</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">129</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">104</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Advances to suppliers</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">4</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">In process and finished products</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">72</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">61</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">205</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">173</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #222222"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">It includes impairment loss as a result of the performed recoverability
assessment for US$ 3 million and US$ 2 million as of December 31, 2023 and 2022, acoording with the policy described in Note 4.13.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>11.5 Provisions</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 55%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 6%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 19%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 19%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; text-align: left">Non-Current</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Contingencies</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">109</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">107</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Asset retirement obligation and wind turbines decommisioning</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">26</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">25</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Environmental remediation</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">15</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">15</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Total Non-Current</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">150</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">147</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; text-align: left">Current</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Asset retirement obligation and wind turbines decommisioning</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Environmental remediation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Other provisions</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total Current</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">6</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">4</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>


<!-- Field: Page; Sequence: 130 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->124<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">The evolution of the provisions is set out below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">12.31.2023</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 47%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 15%">Contingencies</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white; width: 15%">Asset retirement obligation and decommisioning&nbsp;&nbsp;of wind turbines</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 15%">Environmental remediation</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>At the beginning of the year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">107</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">27</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">17</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Increases</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">15</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">6</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">3</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Decreases</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(4)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(1)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Foreign currency exchange difference</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(9)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Reversal of unused amounts</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(4)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(2)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">At the end of the year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">109</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">29</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">17</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Contingencies</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white">Asset retirement obligation and decommisioning&nbsp;&nbsp;of wind turbines</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Environmental remediation</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>At the beginning of the year</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">106</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">21</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">18</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Increases</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">5</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">6</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Increases for incorporation</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Decreases</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Foreign currency exchange difference</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(2)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Reversal of unused amounts</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">At the end of the year</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">107</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">27</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">17</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 131 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->125<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 47%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 15%">Contingencies</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white; width: 15%">Asset retirement obligation and decommisioning&nbsp;&nbsp;of wind turbines</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 15%">Environmental remediation</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>At the beginning of the year</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">103</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">21</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Increases</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">16</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">15</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Decreases</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Reversal of unused amounts <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(13)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(2)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">At the end of the year</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">106</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">21</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">18</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Includes recovery of contingencies of US$ 12.5 million related to the waive of the
timely granted dispatch of Las Armas Wind Farm (see Note 2.1.2.3).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">11.5.1
<U>Provision for Environmental remediation</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company is subject to extensive environmental
regulations in Argentina. The Company&#8217;s management believes that its current operations are in compliance with applicable environmental
requirements, as currently interpreted and enforced, including regulatory remediation commitments assumed. The Company undertakes environmental
impact studies for new projects and investments and, to date, environmental requirements and restrictions imposed on these new projects
have not had any material adverse impact on Pampa&#8217;s business.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In particular, the Province of La Pampa
has submitted a claim to the Company regarding the abandonment of certain wells and the execution of certain tasks associated with the
relinquishment of the Jag&uuml;el de los Machos and Medanito blocks, which took place in 2015 and 2016, respectively. The Company has
challenged the different administrative acts passed by the provincial authorities (including a governor&#8217;s executive order) and is
addressing claims for the Jag&uuml;el de los Machos block in the judicial jurisdiction. Even though the province answered the complaint
in the month of March 2021, the Company has started formal negotiations to resolve the dispute, agreeing on the suspension of procedural
time limits. During 2021, regarding these claims and based on the progress of the ongoing negotiations, the Company recorded provisions
for the estimate of remediation work costs to be incurred in these blocks.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company has performed a sensitivity
analysis relating to the discount rate. The 1% increase or decrease in the discount rate would not have a significant impact on the Company&#8217;s
results of operations.</P>


<!-- Field: Page; Sequence: 132 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->126<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">11.5.2
<U>Asset retirement obligations and wind turbines decommissioning</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Pursuant to the regulations in force in
Argentina, where it develops its oil and gas exploration and production operations, the Company is under an obligation to incur costs
associated with the plugging and abandonment of wells. Furthermore, pursuant to the associated usufruct agreements, the Company is under
an obligation to decommission wind turbines in wind farms. The Company does not have legally restricted assets for the cancellation of
these obligations.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company has performed a sensitivity
analysis relating to the discount rate. The 1% increase or decrease in the discount rate would not have a significant impact on the Company&#8217;s
results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">11.5.3
<U>Provision for legal proceedings</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company (directly or indirectly through
subsidiaries) is a party to several civil, commercial, contentious-administrative, tax, custom and labor proceedings and claims that arise
in the ordinary course of its business. In determining a proper level of provision, the Company has considered its best estimate mainly
with the assistance of legal and tax advisors.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The determination of estimates may change
in the future due to new developments or unknown facts at the time of evaluation of the provision. As a consequence, the adverse resolution
of the evaluated proceedings and claims could exceed the established provision.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, the Company has
recorded provisions for US$ 100.4 million in relation to the following processes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">There are a significant number of files pending before the National Tax Court regarding gasoline exports,
where the tax entity challenges the tariff heading assigned by Petrobras Argentina S.A. in 2008-2014. The Treasury&#8217;s position involves
a higher export duty rate.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">Petrobras Operaciones S.A. (&#8220;POSA&#8221;) has filed an international arbitration claim against the
Company before the International Chamber of Commerce (&#8220;ICC&#8221;) on account of alleged breaches to the Assignment Agreement entered
into between Petrobras Argentina S.A. (currently Pampa) and POSA in 2016 for the transfer of a 33.6% interest in the &#8220;R&iacute;o
Neuqu&eacute;n&#8221; Concession. The breaches alleged by POSA in its arbitration claim consist of the failure to transfer certain assets
associated with the assigned interest, and differences in the calculation of adjustments in the assignment price. The arbitration is conducted
according to the ICC Rules of Arbitration, the applicable law is the one of the Republic of Argentina, and the seat of arbitration is
Buenos Aires, Argentina. On April 30, 2021, POSA filed its claim memorial, and on September 15, 2021, the Company submitted its answer
to the claim memorial and counterclaim. On December 15, 2021, POSA submitted its answer to the counterclaim. As of the date of issuance
of these Consolidated Financial Statements, the arbitration award is pending issuance by the Arbitration Court .</TD></TR></TABLE>


<!-- Field: Page; Sequence: 133 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->127<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 3.3pt; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">The Company filed an international arbitration claim against Petrobras International Braspetro B.V. (&#8220;PIB
BV&#8221;) on account of fraudulent representations and omissions associated with certain export transactions under the share purchase
agreement executed on May 13, 2016, whereby the Company acquired 67.2% of Petrobras Argentina S.A.&#8217;s capital stock. The arbitration
is held under the ICC Arbitration Rules; the applicable law is the one of the State of New York, and the seat of arbitration is New York.
On April 29, 2021, the Company filed its claim memorial and PIB BV submitted its counter-memorial and counterclaim seeking the payment
of a percentage over the difference between the amount estimated for certain contingencies detected in the purchase process and the amount
actually paid for them. On July 7, 2021, the Company and PIB BV submitted their respective answers. On November 5, 2021, the Company and
PIB BV submitted their replications, and on December 20, 2021, their rejoinders to the complaints. On November 9, 2023, the ICC notified
the parties of the Final Award rendered by the Court on November 2, 2023, resolving to (i) dismiss the Company's claims; (ii) dismiss
most of PIB BV's counterclaims, ordering the Company to pay the amount of US$ 3.2 million plus interest from March 31, 2021; and (iii)
dismiss all other claims of the parties. As of the date of issuance of these Consolidated Financial Statements, the Company has paid PIB
BV the amounts established in the Final Award.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, the Company has recorded
provisions for civil, commercial, administrative, labor, tax and customs complaints brought against the Company corresponding to atomized
claims with individual unsubstantial amounts, as well as charges for judicial costs and expenses which, as of December 31, 2023, amount
to US$ 8.5 million.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 3.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><B>11.6 Income tax and minimum notional
income tax liability</B></P>

<P STYLE="font: 12pt Arial Unicode MS; margin: 5pt 0; text-indent: 0in">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 7%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2023</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left">Non-current</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Income tax, net of witholdings and advances</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">50</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">161</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Minimum notional income tax</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">5</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">18</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total non-current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">55</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">179</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left">Current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Income tax, net of witholdings and advances</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">17</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">17</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">5</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 134 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->128<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 12pt 0 8pt">11.6.1 <U>Income tax liability</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company accrued the effect of the
tax inflation adjustment in the calculation of the current and deferred income tax provision for each of the fiscal years in which the
cumulative CPI variation provided by Law No. 27,430 was exceeded, except in those cases when, on being interim fiscal periods, the mentioned
legal parameter has not been exceeded for each of the annual periods.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The tax inflation adjustment mechanism
set out in Title VI and different supplementary sections of the Income Tax Law is inconsistent in certain aspects generating a confiscatory
lien, including, but not limited to, the failure to update tax losses and the cost of acquisitions or investments made before January
1, 2018, which bears resemblance with the parameters in re &#8220;Candy S.A.&#8221;, where the CSJN ordered the application of the inflation
adjustment mechanism.<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, the Company and
its subsidiaries hold a provision for the additional income tax liabilities that should have been assessed due to the stated reasons.
The amount provisioned for the periods not prescribed and/or those without a final and conclusive judgment in favor of the Company, including
compensatory interest, amounts to U$S 50 million.</P>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 12pt 0 8pt">11.6.2 <U>Minimum Notional Income Tax liability</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company and its subsidiaries have
filed a petition for declaratory relief under Sect. 322 of the Federal Code of Civil and Commercial Procedure to gain assurance as to
the application of the minimum notional income tax for the fiscal years 2011-2018 based on CSJN&#8217;s decision in re &#8220;Hermitage&#8221;
passed on June 15, 2010. In this established precedent, the CSJN declared the unconstitutionality of this tax on the grounds that it is
unreasonable and it breaches the taxpaying capacity principle when the absence of taxable income in the period evidences that the income
presumed by the legislator has not existed.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">However, on August 26, 2021, the CSJN
dismissed the tax refund claim lodged by the Company for the 2008 and 2009 periods alleging that, despite the evidenced tax losses, the
existence of accounting profits is a manifestation of the taxpaying capacity and, therefore, the precepts of the Hermitage precedent are
not met.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Considering the CSJN&#8217;s current position,
and the prescribed periods, the Company and its subsidiaries have recorded, for periods presenting tax losses and accounting profits,
liabilities on the amount of the applicable interest on the Notional Income Tax, plus the determined tax provision for those cases in
which Minimum Notional Income Tax is not considered to be computable as an Income Tax advance payment. This liability is disclosed under
&#8220;Non-Current Income tax and minimum notional income tax provision&#8221;. The mentioned liability amounts to U$S 5 million.</P>


<!-- Field: Page; Sequence: 135 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->129<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><B>11.7
Tax liabilities</B></P>

<P STYLE="font: 10pt/116% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2023</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left">Current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Value added tax</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Personal assets tax provision&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">3</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Tax withholdings to be deposited</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">3</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Royalties</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">6</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">12</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Other</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">2</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">14</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">28</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: justify"><B>11.8
Defined benefits plans</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The main characteristics of benefit plans
granted to Company employees are detailed below:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 21.25pt">(i)</TD><TD STYLE="text-align: justify"><U>Pension and retirement benefits</U>: Benefit plan whereby Company employees, in some cases covered
by certain collective bargaining agreements, meeting certain conditions are eligible to receive upon retirement, and in some cases, disability
or death, a certain number of salaries according to the provisions of the plan or collective bargain agreement, if applicable.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 21.25pt">(ii)</TD><TD STYLE="text-align: justify"><U>Compensatory plan:</U> Benefit plan whereby some of the Company employees meeting certain conditions
are eligible to receive upon retirement a certain amount according to the provisions of the plan (based on the last computable salary
and the number of years working for the Company) after deducting the benefits from the pension system. The plan, until 2003, called for
a contribution to a fund exclusively by the Company and without any contribution by the employees. These contributions were derived to
a trust fund and were invested in U.S. dollar-denominated money market instruments in order to preserve the accumulated capital and obtain
a return in line with a moderate risk profile. Funds were mainly invested in U.S. government bonds, commercial papers rated A1 or P1,
AAAm- rated mutual funds and time deposits in banks rated A+ or higher in the United States of America, in accordance with the Trust Agreement
dated on March 27, 2002 entered with The Bank of New York Mellon, duly amended by the Permitted Investment Letter dated on September 14,
2006. The Bank of New York Mellon is the trustee and Willis Towers Watson is the managing agent. In case there is an excess, duly certified
by an independent actuary, of the funds to be used to settle the benefits granted by the plan, the Company will be entitled to choose
to use it, in which case it may have to notify the trustee thereof.</TD></TR></TABLE>


<!-- Field: Page; Sequence: 136 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->130<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, 2022 and 2021,
the most relevant actuarial information corresponding to the described benefit plans is the following:</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B><TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center">12.31.2023</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 16%">Present value of the obligation</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 16%">Present value of assets</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 16%">Net liability at the end of the year</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">At the beginning of the year</TD>
    <TD STYLE="text-align: right">38</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(4)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">34</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">Items classified in profit or loss&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left; background-color: white">Current services cost</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left; background-color: white">Interest cost</TD>
    <TD STYLE="text-align: right">29</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(4)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">25</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">Items classified in other comprehensive<BR>
&nbsp;income</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left; background-color: white">Actuarial loss (gain)</TD>
    <TD STYLE="text-align: right">7</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Benefit payments</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">(Gain) Loss on exchange difference</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(49)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(43)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">At the end of the year</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">23</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(4)</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">19</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Present value of the obligation</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Present value of assets</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">Net liability at the end of the year</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">At the beginning of the year</TD>
    <TD STYLE="text-align: right">33</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(4)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">29</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">Items classified in profit or loss&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left; background-color: white">Current services cost</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left; background-color: white">Interest cost</TD>
    <TD STYLE="text-align: right">15</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">13</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">Items classified in other comprehensive<BR>
&nbsp;income</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left; background-color: white">Actuarial loss</TD>
    <TD STYLE="text-align: right">9</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Benefit payments</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>(Gain) Loss on exchange difference</TD>
    <TD STYLE="text-align: right">(17)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(15)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">At the end of the year</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">38</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(4)</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">34</TD></TR>
  </TABLE>
<P STYLE="font: 8pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%"></FONT></P>

<P STYLE="font: 8pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%"></FONT></P>


<!-- Field: Page; Sequence: 137 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->131<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 8pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 16%">Present value of the obligation</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 16%">Present value of assets</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 16%">Net liability at the end of the year</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">At the beginning of the year</TD>
    <TD STYLE="text-align: right">25</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(4)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">21</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">Items classified in profit or loss&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left; background-color: white">Current services cost</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left; background-color: white">Interest cost</TD>
    <TD STYLE="text-align: right">13</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">10</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">Items classified in other comprehensive<BR>
&nbsp;income</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left; background-color: white">Actuarial loss</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Benefit payments</TD>
    <TD STYLE="text-align: right">(2)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>(Gain) Loss on exchange difference</TD>
    <TD STYLE="text-align: right">(5)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(4)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">At the end of the year</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">33</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(4)</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">29</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, 2022 and 2021,
the breakdown of net liabilities per type of plan is as follows: a) US$ 10 million, US$ 17 million and US$ 15 million correspond to the
Pension and Retirement Benefits Plan and b) US$ 10 million, US$ 17 million and US$ 14 million correspond to the Compensatory Plan, respectively.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Estimated expected benefits payments for
the next ten years are shown below. The amounts in the table represent the undiscounted cash flows and therefore do not reconcile to the
obligations recorded at the end of the year.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 24px; font-weight: bold; text-align: left; width: 75%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 25%">12.31.2023</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Less than one year</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">3</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">One to two years</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Two to three years</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Three to four years</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Four to five years</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Six to ten years</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">9</TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 138 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->132<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Significant actuarial assumptions used were
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 50%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 16%">12.31.2023</TD>
    <TD STYLE="vertical-align: top; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 16%">12.31.2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 16%">12.31.2021</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Real discount rate</TD>
    <TD STYLE="text-align: center">5%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">5%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">5%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Real wage increase rate</TD>
    <TD STYLE="text-align: center">1%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Inflation rate</TD>
    <TD STYLE="text-align: center">156%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">118%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">54%</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/116% Times New Roman, Times, Serif; margin: 0"><FONT STYLE="line-height: 116%"></FONT></P>

<P STYLE="font: 10pt/116% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following sensitivity analysis shows the
effect of a variation in the discount rate and salaries increase on the obligation amount:</P>

<P STYLE="font: 10pt/116% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 75%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 25%">12.31.2023</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Discount rate: 4%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Obligation</TD>
    <TD STYLE="text-align: right">25</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Variation</TD>
    <TD STYLE="text-align: right">2</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">10%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Discount rate: 6%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Obligation</TD>
    <TD STYLE="text-align: right">21</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Variation</TD>
    <TD STYLE="text-align: right">(2)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(9%)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Real wage increase rate: 0%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Obligation</TD>
    <TD STYLE="text-align: right">22</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Variation</TD>
    <TD STYLE="text-align: right">(1)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(3%)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Real wage increase rate: 2%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Obligation</TD>
    <TD STYLE="text-align: right">24</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Variation</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">4%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The sensitivity analyses are based on a change
in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions
may be correlated. Therefore, the presented analysis may not be representative of the actual change in the defined benefit obligation.
The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior period.</P>


<!-- Field: Page; Sequence: 139 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->133<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>11.9 Salaries and social security payable</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2023</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 18%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left">Current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Salaries and social security contributions</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">3</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Provision for vacations</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">5</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Provision for gratifications and annual bonus for efficiency</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">11</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">19</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">19</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">32</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 12</U>: FINANCIAL ASSETS AND LIABILITIES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">12.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT>Financial assets at amortized cost</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2023</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left">Non-current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Term deposit</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">101</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Notes receivable</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total non-current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">102</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; text-align: left; background-color: white">Current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Term deposit</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">101</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Notes receivable</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">4</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">105</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">8</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">Due to the short-term nature of investments at amortized cost, it
is considered that their book value does not differ from their fair value. For non-current investments at amortized cost, fair values
also do not differ significantly from book values.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 140 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->134<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">12.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT>Financial assets at fair value through profit and loss</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2023</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left">Non-current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Shares</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">35</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">27</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total non-current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">35</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">27</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left">Current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Government securities&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">389</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">279</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Corporate bonds</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">79</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">116</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Shares</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">88</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">160</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Mutual funds</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">3</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">31</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">559</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">586</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">12.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT>Trade and other receivables</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-decoration: underline; text-align: left; background-color: white; width: 55%"><U></U></TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Note</TD>
    <TD STYLE="text-align: center; background-color: white; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 17%">12.31.2023</TD>
    <TD STYLE="text-align: center; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 17%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: top; text-align: left; background-color: white">Non-Current</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Related parties</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">16</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">11</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">17</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Tax credits</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Receivables for sale of associates</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Contractual indemnity receivable</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">4</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Other</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Other receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">18</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">20</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Total non-current</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; background-color: white">18</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right">20</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 141 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->135<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 55%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 5%">Note</TD>
    <TD STYLE="vertical-align: top; text-align: center; background-color: white; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 17%">12.31.2023</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 17%">12.31.2022</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="text-decoration: underline; vertical-align: top; text-align: left">Current</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">105</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">141</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">CAMMESA</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">100</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">165</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Related parties</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">16</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">5</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Impairment of financial assets</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(1)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">Trade receivables, net</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">209</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">305</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: top; text-align: left; background-color: white">Current</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Related parties</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">16</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">7</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Tax credits</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">10</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">14</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Receivables for complementary activities</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Prepaid expenses</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">5</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">14</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Guarantee deposits</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">19</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">27</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Expenses to be recovered</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">6</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">15</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Insurance to be recovered</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">4</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Receivables for acquisition of subsidiary</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Receivables for sale of associates</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Receivables for financial instruments sale</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">GasAr Plan</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">11</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">32</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Receivables for arbitration award</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">37</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Contractual indemnity credit</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">2</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Advances to employees</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">10</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Other</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">11</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">Other receivables, net</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">87</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">165</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">Total current</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 2pt double; text-align: right; background-color: white">296</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 2pt double; text-align: right">470</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Due to the short-term nature of trade
and other receivables, its book value is not considered to differ from its fair value. For non-current trade and other receivables, fair
values do not significantly differ from book values.</P>


<!-- Field: Page; Sequence: 142 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->136<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0">The movements in the impairment of financial assets were as
follows:</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: top; text-align: left; background-color: white; width: 49%"><U></U></TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">12.31.2023</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">12.31.2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 12%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">At the beginning of the year</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">6</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">9</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">16</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Impairment</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">1</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Utilization</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Reversal of unused amounts</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(1)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Foreign currency exchange difference</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(5)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">At the end of the year</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">6</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">9</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">12.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT>Cash and cash equivalents</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2023</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Banks</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">31</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">11</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Mutual funds</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">140</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">95</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">171</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">106</TD></TR>
  </TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">12.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT>Borrowings</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 17%">12.31.2023</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 17%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: top; text-align: left">Non-Current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Financial borrowings</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">108</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Corporate bonds</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1,224</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">1,232</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left">Total non-current</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">1,224</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">1,340</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: top; text-align: left">Current</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Bank overdrafts</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">31</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">59</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Financial borrowings</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">67</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">51</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Corporate bonds</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">126</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">163</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left">Total current</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">224</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">273</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; background-color: white">1,448</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">1,613</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023 and 2022, the
fair values of the Company&#8217;s CB amount approximately to US$ 1,350 million and US$ 1,435 million, respectively. Such values were
calculated on the basis of the determined market price of the Company&#8217;s CB at the end of each year (fair value level 1).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The carrying amounts of short-term borrowings
and bank overdrafts approximate their fair value due to their short-term maturity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The long-term borrowings were measured
at amortized cost, which does not differ significantly from its fair value.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of the date of issuance of these Consolidated
Financial Statements, the Company is in compliance with the covenants established in its indebtedness contracts.</P>


<!-- Field: Page; Sequence: 143 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->137<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0">12.5.1 <U>Movements in borrowings</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom; width: 49%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">12.31.2023</TD>
    <TD STYLE="text-align: center; font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">12.31.2022</TD>
    <TD STYLE="text-align: center; font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">At the beginning of the year</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1,613</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">1,438</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">1,614</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Proceeds from borrowings</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">424</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">308</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">188</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Payment of borrowings</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(191)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">(143)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">(336)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Accrued interest</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">304</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">172</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">137</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Payment of interests</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(280)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">(162)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">(140)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Repurchase of CB</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(6)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">(28)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">(3)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Result from exchange of CB</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">14</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Result from repurchase of CB</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(1)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">(6)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Increases for incorporation</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">89</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Foreign currency exchange difference</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(356)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">(80)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">(22)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Decrease for subsidiaries sales</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(80)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Borrowing costs capitalized in property, plant and equipment</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">21</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">11</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">At the end of the year</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,448</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,613</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,438</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 144 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->138<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">12.5.2 <U>Details of borrowings:</U></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 26%">Type of instrument</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 8%">Company</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 8%">Currency</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 8%">Residual value</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 8%">Interest</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 11%">Rate</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 11%">Expiration</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 12%">Book value as of 12.31.2023</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Corporate bonds <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 17 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5,980</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Badlar + 2%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">May-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">9</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 15 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">18,264</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Badlar + 0%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Jul-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">29</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 18 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">72</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">5.00%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Sep-25</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">73</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 16 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">56</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">4.99%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Nov-25</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">56</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 9 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">179</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">9.50%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Dec-26</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">184</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 1 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">597</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">7.50%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Jan-27</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">611</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 13 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">98</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">0.00%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Dec-27</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">96</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 3 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">293</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">9.13%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Apr-29</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">292</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">1,350</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left"><U>Financial loans</U> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(2)(3)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">SOFR 6M + 4,21%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Nov-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,000</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Between 80% and 110%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Between Apr-24 and Jun-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; text-align: right">13</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold"><U>Other financial loans</U> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(4)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">22</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">SOFR + 0,35%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Jul-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">23</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">12</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">SOFR + 0%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Agu-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">12</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">14</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Between 13% and 16%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Between Jan-24 and Jun-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">14</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">CNY</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">37</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Between 12% and 12.50%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Between Mar-24 and Nov-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">54</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left"><U>Bank overdrafts</U> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">23,140</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Between79.00% and 81,00%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Between Jan-24 and Apr-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">31</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">31</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">1,448</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><SUP>(1)</SUP></TD><TD STYLE="text-align: justify">Net of repurchases for a face value of US$ 113.7 million for 2026 CB, US$ 153.0 million of 2027 CB, and
US$ 7.5 million for 2029 CB.</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><SUP>(2)</SUP></TD><TD STYLE="text-align: justify">During the fiscal year ended December 31, 2023, the Company took out short-term
bank loans with local financial institutions, net of cancellations, for $ 16,535 million and import financing for CNY 37 million. Additionally,
it took out import financing, net, for US$ 6.2 million. Post-closing, the Company took out net import financing for US$1 million and cancelled
net bank debt for $100 million.</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><SUP>(3)</SUP></TD><TD STYLE="text-align: justify">Regarding the FINNVERA credit facility and due to the discontinuation of the Libor benchmark interest
rate as from July 2023, on September 5, 2023, Pampa and CACIB (Credit Agricole Corporate &amp; Investment Bank) entered into an amendment
to the credit facility replacing the Libor rate with the Term SOFR rate for debt services after November 2023. In this same line, the
interest rate hedge agreement associated with the credit facility was also amended.</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><SUP>(4)</SUP></TD><TD STYLE="text-align: justify">During the fiscal year ended December 31, 2023, the Company received disbursements in the amount of US$
2.0 million under the credit facilities taken out with BNP Paribas S.A. in 2020.</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt">&nbsp;</P>


<!-- Field: Page; Sequence: 145 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->139<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 26%">Type of instrument</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 8%">Company</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 8%">Currency</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 8%">Residual value</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 8%">Interest</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 11%">Rate</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 11%">Expiration</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 12%">Book value as of 12.31.2022</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Corporate bonds <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">T Series CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">93</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">7.38%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Jul-23</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">95</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 8 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,107</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Badlar + 2%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Jul-23</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">20</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 11 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">21,655</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Badlar + 0%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Jan-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">140</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 9 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">102</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">9.50%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Dec-26</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">184</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 1 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">501</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">7.50%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Jan-27</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">616</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 13 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">49</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">0.00%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Dec-27</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">48</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 3 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">285</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">9.13%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Apr-29</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">292</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">1,395</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left"><U>Financial loans</U> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">15</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Libor + 4.21%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Nov-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">16</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">GW</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">83</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Libor + 5.75%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Sep-26</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">85</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">101</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white"><U>Other financial loans</U> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(3)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">22</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">SOFR + 0.35%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Jul-23</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">23</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Between 9.50% and 14.50%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Between Jan-23 and May-23</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">US$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">27</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">SOFR + 0%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Agu-24</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">27</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">58</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white"><U>Bank overdrafts
    </U><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">10,065</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Between 54% and 54.50%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Jan-23</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">59</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">59</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">1,613</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD><FONT STYLE="font-size: 9pt">Net of the following face value repurchases: US$ 113.7 million of ON 2026, US$ 146.2 million of ON 2027
and US$ 7.5 million of ON 2029.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt"><SUP>(2)</SUP></FONT></TD><TD><FONT STYLE="font-size: 9pt">During the the fiscal year ended December 31, 2022, the Company took on new short-term financing with
domestic financial entities, net of cancellations, for a total $ 8,618 million and import prefinancing for US$ 7.6 million. Additionally,
the Company repaid at maturity two principal installments for the credit facility sponsored by FINNVERA in the amount of US$ 7.7 million
and US$ 10.4 million corresponding to the credit facility subscribed between IDB Invest and Greenwind, a Company that is consolidated
since acquisition of an additional 50% interest in August 2022.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt"><SUP>(3)</SUP></FONT></TD><TD><FONT STYLE="font-size: 9pt">During the fiscal year ended December 31, 2022, the Company received disbursements in the amount of US$
1.3 million under the credit facilities taken out with BNP Paribas S.A. in 2020. After the fiscal year closing, the Company repaid short-term
bank loans with local financial entities for $ 10,065 million and import prefinancing for US$ 0.7 million.</FONT></TD></TR></TABLE>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -10.9pt">&nbsp;</P>


<!-- Field: Page; Sequence: 146 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->140<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">12.5.3 <U>Global Program of CB</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On September 30, 2021, the Company&#8217;s
General Ordinary and Extraordinary Shareholders&#8217; Meeting resolved to approve the creation of a new global corporate bonds program
for an amount of up to US$&nbsp;2,000 million or its equivalent in other currencies or units of value, in the form of simple corporate
bonds non-convertible into shares and/or corporate bonds convertible into shares, to renew the program expired on December 29, 2021. The
public offering was authorized by the CNV on December 9, 2021.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0">12.5.4 <U>Issuance of CB Class 8, 11, 13, 15, 16, 17, 18 and
19</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On January 18, 2022, the Company issued
Class 8 CB in the amount of $ 3,107 million at a Badlar rate + 2%, maturing in 18&nbsp;months. This was the first green bond issued by
Pampa and CB issue&acute;s proceeds were allocated to finance the expansion of PEPE VI (see Note 18.1).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On July 15, 2022, the Company issued Class
11 CB for $ 12,690 million, accruing interest at a variable Badlar rate plus an annual 0% spread and maturing on January 15, 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, on August 8, 2022 the Company
reopened Class 11 CB for $ 8,963.9 million at an issuance price of 1.0305. The total face value of outstanding Class 11 CB amounted to
$ 21,654.6 million.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 13, 2022, the Company issued
Clase 13 US$-link CB for US$ 49.9 million at a fixed interest rate of 0% and maturing on December 2027.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On January 11, 2023, the Company issued
Class 15 CB for $ 10,379 million accruing interest at a variable Badlar rate plus an annual 2% spread and maturing on July 11, 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Subsequently, on March 6, 2023, the Company
reopened Class 13 and Class 15 CB for US$ 48.2 million and $ 7,885 million, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 4, 2023, the Company issued Class
16 CB for US$ 55.7 million, with a fixed 4.99% interest rate and maturing on November 4, 2025, as well as Class 17 CB for $ 5,980 million
accruing interest at a variable Badlar rate plus an annual 2% spread and maturing on May 4, 2024. Class 17 CB are the second green bond
issued by Pampa, and proceeds will be destined for financing PEPE VI (see Note 17.1).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The issuance of green bonds reflects the
commitment to financing projects with a positive impact on the environment and to diversifying the country's energy generation matrix.
The issuance of Class 8 and Class 17 CB was recognized by Fix Ratings, an affiliate of Fitch Ratings, with the rating of Green Bond (BV1),
the best possible grade, since it is aligned with the four main components of ICMA (International Capital Market Association) Green Bond
Principles (GBP), and was made in observance of the &#8220;Guidelines for the Issuance of Social, Green and Sustainable Bonds in Argentina&#8221;
of the CNV Rules, the provisions of BYMA&#8217;s Social, Green and Sustainable Guide and the BYMA Rules, making up BYMA&#8217;s Social,
Green and Sustainable Bonds Panel.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On July 18, 2023, the Company repaid at
maturity the total outstanding amount of Class 8 CB for $ 2,283&nbsp;million.</P>


<!-- Field: Page; Sequence: 147 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->141<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 8, 2023, the Company issued Class
18 CB for US$&nbsp;72.1&nbsp;million, accruing interest at a fixed 5% rate and maturing on September 8, 2025.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, on December 21, 2023, the Company
early redeemed Class 11 CB for an amount equivalent to the unpaid principal and accrued interest of $&nbsp;26,279.5 million.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Post-closing, Pampa redeemed all Class
17 CB, for a total amount of $ 5,980 million. Additionally, on February 29, 2024, the Company issued Class 19 CB for $ 17,131 million
accruing interest at a variable Badlar rate plus an annual -1% spread and maturing on February 28, 2025.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">12.5.6 <U>Series T CB Exchange Offer </U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On June 16, 2022, the Company launched
an exchange offer for holders of Series T CB maturing in 2023 originally issued by Petrobras Argentina S.A. (currently merged with the
la Company) dated July 21, 2016 for a face value of US$ 500 million, under its Global Program authorized pursuant to CNV Resolution No.
17,162 dated August 15, 2013.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Once the exchange offer expired on July
29, 2022, the information and exchange agent informed the Company that US$ 193.8 million and US$ 213.3 million, representing 38.8% and
42.7% of the Series T CB&#8217; outstanding principal, had been validly tendered for exchange under Option A and Option B, respectively,
totaling a US$ 407.1 million participation and representing approximately 81.4% of the outstanding Series T CB&#8217; capital amount.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Consequently, on August 8, 2022, after
meeting the conditions established in the exchange offer documents, Pampa issued Class 9 CB for a face value of US$ 292.8 million, accruing
interest at an annual fixed 9.5% rate and maturing on December 8, 2026, payable in three consecutive annual installments starting in 2024,
and paid US$ 122.1 million in cash. For each US$ 1,000 of Series T CB&#8217;s capital amount validly tendered and accepted for exchange,
eligible holders received, together with the payment of interest accrued on Series T CB up to the settlement date: (i) Option A: approximately
US$ 377.2 in Class 9 CB and US$ 630.2 in cash; and (ii) Option B: US$ 1,030 in Class 9 CB.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As a result of the debt swap, the Company
disclosed losses for $ 1,997 million (US$ 14 million) under &#8220;Other financial results&#8221; to reflect the change in the payment
estimates discounted at Series T CB&#8217;s original effective interest rate, since they were not deemed substantially different from
the issuance conditions for Class 9 CB, in accordance with IFRS&acute; Accounting Standards.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Later, on May 5, 2023, the Company announced
the redemption of all Series&nbsp;T CB maturing on July 21, 2023, which outstanding balance amounted to US$ 92.9 million.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The redemption took place on June 8, 2023
at a redemption price equivalent to 100% of the outstanding capital amount, plus interest accrued and unpaid as of the redemption date,
plus additional amounts under the Series T CB&#8217;s trust agreement.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 148 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->142<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 12:</U></B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>12.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT>Trade and other payables</B></P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 55%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Note</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 17%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 17%">12.31.2022</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-decoration: underline; text-align: left">Non-Current</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Compensation agreements&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">28</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">10</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Finance leases liability</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">14</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">10</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Contractual penalty debt</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">4</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Other</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">1</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left; background-color: white">Other payables</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">46</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">21</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left; background-color: white">Total non-current</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 2pt double; text-align: right">46</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 2pt double; text-align: right; background-color: white">21</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: top; text-align: left; background-color: white"><U>&nbsp;</U></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: top; text-align: left; background-color: white">Current</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Suppliers</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">186</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">198</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Customer advances</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">3</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Related parties</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">16</TD>
    <TD STYLE="color: white; vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">15</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">14</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left; background-color: white">Trade payables</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">210</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">215</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: justify; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Compensation agreements&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">11</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">12</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Liability for acquisition of companies</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">8</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">46</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Finance leases liability</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">2</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Investment plan readjustment liability</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Contractual penalty debt</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">2</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Debtors</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white; text-align: right">3</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Other</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left; background-color: white">Other payables</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">28</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">66</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify; background-color: white">Total current</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 2pt double; text-align: right">238</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 2pt double; text-align: right; background-color: white">281</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Due to the short-term nature of the trade payables
and other payables, their carrying amount is considered to be the same as their fair value. <FONT STYLE="color: #222222">For most other
non-current debts, fair values are also not significantly different from their book values.</FONT></P>


<!-- Field: Page; Sequence: 149 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->143<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12:</U></B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>12.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT>Financial instruments by category</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table presents financial
instruments by category:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 40%">As of December 31, 2023</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 11%">Financial assets/liabilities at amortized cost</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 11%">Financial assets/liabilities at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 11%">Subtotal financial assets/liabilities</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 11%">Non financial assets/liabilities</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 11%">Total</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Assets</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Trade receivables and other receivables</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">279</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">7</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">286</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">28</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">314</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: middle">Financial assets at amortized cost</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 12px; vertical-align: middle; text-align: left">Term deposit</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">101</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">101</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">101</TD></TR>
  <TR>
    <TD STYLE="padding-left: 12px; vertical-align: middle; text-align: left">Notes receivable</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">4</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="font-style: italic; vertical-align: middle; text-align: left">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 12px; vertical-align: middle; text-align: left">Government securities&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">389</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">389</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">389</TD></TR>
  <TR>
    <TD STYLE="padding-left: 12px; vertical-align: middle; text-align: left">Corporate bonds</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">79</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">79</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">79</TD></TR>
  <TR>
    <TD STYLE="padding-left: 12px; vertical-align: middle; text-align: left">Shares</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">123</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">123</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">123</TD></TR>
  <TR>
    <TD STYLE="padding-left: 12px; vertical-align: middle; text-align: left">Mutual funds</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">3</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">3</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">3</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Cash and cash equivalents</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">31</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">140</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">171</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">171</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Total</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">415</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">741</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,156</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">28</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,184</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Liabilities</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Trade and other liabilities</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">275</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">275</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">9</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">284</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Borrowings</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">1,448</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">1,448</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">1,448</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,723</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,723</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">9</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,732</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center">As of December 31, 2022</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Financial assets/liabilities at amortized cost</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center">Financial assets/liabilities at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Subtotal financial assets/liabilities</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Non financial assets/liabilities</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Total</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Assets</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Trade receivables and other receivables</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">437</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">22</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">459</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">31</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">490</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: middle">Financial assets at amortized cost</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 12px; vertical-align: middle; text-align: left">Term deposit</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">101</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">101</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">101</TD></TR>
  <TR>
    <TD STYLE="padding-left: 12px; vertical-align: middle; text-align: left">Notes receivable</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD></TR>
  <TR>
    <TD COLSPAN="3" STYLE="font-style: italic; vertical-align: middle; text-align: left">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 12px; vertical-align: middle; text-align: left">Government securities&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">279</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">279</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">279</TD></TR>
  <TR>
    <TD STYLE="padding-left: 12px; vertical-align: middle; text-align: left">Corporate bonds</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">116</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">116</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">116</TD></TR>
  <TR>
    <TD STYLE="padding-left: 12px; vertical-align: middle; text-align: left">Shares</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">187</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">187</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">187</TD></TR>
  <TR>
    <TD STYLE="padding-left: 12px; vertical-align: middle; text-align: left">Mutual funds</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">31</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">31</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">31</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Cash and cash equivalents</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">11</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">95</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">106</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">106</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Total</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">558</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">730</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,288</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">31</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,319</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Liabilities</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Trade and other liabilities</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">298</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">298</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">302</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Borrowings</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,613</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,613</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,613</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Derivative financial instruments</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,911</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,913</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">4</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,917</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">The categories of financial instruments have been determined according
to IFRS 9.</P>


<!-- Field: Page; Sequence: 150 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->144<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The income, expenses, gains and losses
derived from each of the financial instrument categories are indicated below:</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left; width: 40%">As of December 31, 2023</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 11%">Financial assets/liabilities at amortized cost</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 11%">Financial assets/liabilities at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 11%">Subtotal financial assets/liabilities&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 11%">Non Financial assets/ liabilities&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 11%">Total</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Interest income</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Interest expenses</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(307)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(307)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(49)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(356)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Foreign currency exchange difference, net</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,035)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(560)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,595)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,718</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">123</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Changes in the fair value of financial instruments</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">444</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">444</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">444</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Result from present value measurement</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(9)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(10)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Other financial results</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(7)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(7)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(7)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(1,345)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(116)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(1,461)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,660</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">199</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left">As of December 31, 2022</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Financial assets/liabilities at amortized cost</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Financial assets/liabilities at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Subtotal financial assets/liabilities&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Non Financial assets/ liabilities&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Total</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Interest income</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">5</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">5</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Interest expenses</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(175)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(175)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(41)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(216)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Foreign currency exchange difference, net</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">16</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(85)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(69)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">149</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">80</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Changes in the fair value of financial instruments</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">110</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">110</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">110</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Result from present value measurement</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(1)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(1)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(13)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(14)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Other financial results</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(15)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(15)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(15)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Total</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(170)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">25</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(145)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">95</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(50)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left">As of December 31, 2021</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Financial assets/liabilities at amortized cost</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Financial assets/liabilities at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Subtotal financial assets/liabilities&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Non Financial assets/ liabilities&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Total</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Interest income</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">10</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">10</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">10</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Interest expenses</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(138)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(138)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(40)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(178)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Foreign currency exchange difference, net</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(11)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(19)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(30)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">33</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Changes in the fair value of financial instruments</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(15)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(15)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(15)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Result from present value measurement</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">2</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(3)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Other financial results</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(4)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(4)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(4)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(8)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Total</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(141)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(34)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(175)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(14)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(189)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>


<!-- Field: Page; Sequence: 151 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->145<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>12.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT>Fair value of financial Instruments</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company classifies the fair value
measurements of financial instruments using a fair value hierarchy, which reflects the relevance of the variables used to perform those
measurements. The fair value hierarchy has the following levels:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">Level 1: quoted prices (not adjusted) for identical assets or liabilities in active markets.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">Level 2: data different from the quoted prices included in Level 1 observable for the asset or liability,
either directly (i.e. prices) or indirectly (i.e. derived from prices).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">Level 3: Asset or liability data based on information that cannot be observed in the market (i.e., unobservable
data).</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table shows the Company&#8217;s
financial assets and liabilities measured at fair value as of December 31, 2023 and 2022:</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; background-color: white; width: 44%">As of December 31, 2023</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 13%">Level 1</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 13%">Level 2</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 13%">Level 3</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 13%">Total</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Assets</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Financial assets at fair value through <BR>
profit and losss</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Government securities</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">389</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">389</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Corporate bonds</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">79</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">79</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Mutual funds</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Shares</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">88</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">35</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">123</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Cash and cash equivalents</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Mutual funds</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">140</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">140</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Other receivables</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Guarantee deposits on derivative financial instruments</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total assets</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">706</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">35</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">741</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; background-color: white">As of December 31, 2022</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Level 1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Level 2</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Level 3</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Total</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Assets</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Financial assets at fair value through <BR>
profit and losss</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Government securities</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">279</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">279</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Corporate bonds</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">116</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">116</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Mutual funds</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">31</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">31</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Shares</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">160</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">27</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">187</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Cash and cash equivalents</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Mutual funds</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">95</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">95</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Other receivables</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">22</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">22</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total assets</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">703</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">27</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">730</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Liabilities</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Derivative financial instruments</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">2</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Total liabilities</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">2</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">2</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 8pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 152 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->146<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The value of the financial instruments
negotiated in active markets is based on the market quoted prices as of the date of these Consolidated Financial Statements. A market
is considered active when the quoted prices are regularly available through a stock exchange, broker, sector-specific institution or regulatory
body, and those prices reflect regular and current market transactions between parties that act in conditions of mutual independence.
The market quotation price used for the financial assets held by the Company is the current offer price. These instruments are included
in Level 1.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The fair value of financial instruments
that are not negotiated in active markets is determined using valuation techniques. These valuation techniques maximize the use of market
observable information, when available, and rely as little as possible on specific estimates of the Company. If all significant variables
to establish the fair value of a financial instrument can be observed, the instrument is included in Level 2.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If one or more variables used to determine
the fair value cannot be observed in the market, the financial instrument is included in Level 3.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The techniques used for the measurement
of assets at fair value with changes in profit (loss), classified as Level 2 and 3, are detailed below:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">Derivative Financial Instruments: calculated from variations between market prices at the closing date
of the year, and the amount at the time of the contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">Shares: it was determined using the income-based approach through the &#8220;Indirect Cash Flow&#8221;
method, that is, the net present value of expected future cash flows, mainly through the collection of dividends taking into consideration
the direct equity interest of 2.84% and 3.19%, and the additional equity interest of 2.18% and 2.46% through HIDISA and HINISA, in TJSM
and TMB, respectively, resulting from the Federal Government&#8217;s restructuring of assets in the energy sector. This restructuring
resulted in TMB&#8217;s and TJSM&#8217;s share transfer from the Federal Government to ENARSA, considering 16.6% and 16.4% discount rate
as of December, 31 2023 and 2022, respectively. The key assumptions were prepared based on estimates on the future behavior of certain
sensitive variables, including: (i) the dividend distribution policy; (ii) reference prices for energy sold in the spot market; (iii)
projections of the availability and dispatch of power plants; (iv) the evolution of structural costs and expenses; (v) macroeconomic variables
such as inflation and exchange rates, etc. The Company recognised earnings for US$ 7.2 million and losses for US$ 1.7&nbsp;million as
a result of changes in the fair value of financial instruments classified as level 3, under the item &#8220;Other financial results&#8221;
of the Consolidated Statement of Comprehensive Income, as of December, 31 2023 and 2022, respectively. Current values may substantially
differ from projections, mainly on account of: i) the timeliness and magnitude of the distribution of dividends, ii) the timeliness and
magnitude of energy price updates, and/or iii) the evolution of costs. The Company estimates that any sensitivity analysis that considers
changes in any of the estimates taken individually may lead to distorting conclusions, generating an adverse effect on the Company&#8217;s
results.</TD></TR></TABLE>


<!-- Field: Page; Sequence: 153 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->147<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 13</U>: EQUITY COMPONENTS</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>13.1 Share capital</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, the share capital
amounts to $ 1,364 million, including approximately $ 4 million treasury shares.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 35.45pt; text-align: justify; text-indent: -35.45pt">13.1.1
<U>Share buyback programs </U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Taking into consideration the market volatility
and the persisting divergence between the Company&#8217;s share price and the economic reality its assets currently or potentially have,
which is detrimental to the interests of its shareholders, and considering the Company&#8217;s history of strong cash position and fund
availability, the Board of Directors has implemented several share buyback programs, considering in each case that treasury shares may
not exceed the 10% capital stock capitalization.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">During 2021, the Company directly and
indirectly acquired 2.7 million own ADRs for a value of US$ 38.7 million, and the repurchased shares canceled in full.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">During 2022, the Company indirectly acquired
0.9 million own ADRs for a value of US$ 18.2 million to an average price of US$ 20,3 per ADR, which were canceled in full.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">During 2023, the Company did not acquired
own shares.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">13.1.2 <U>Stock Compensation Plan</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December, 31 2023, 4 million remained
in treasury to be delivered to employees under such plan (see Note 4.17).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">13.1.3 <U>Capital reductions</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">During 2021, the capital stock reduction
approved by the Company&#8217;s General Ordinary and Extraordinary Shareholders&#8217; Meeting held on April 29 and September 30, which
provided for the cancellation of 56.6 million shares and 12.5 million shares, respectively. These reductions are registered in the Public
Registry.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On April 27, 2022, General Ordinary and
Extraordinary Shareholders&#8217; Meeting resolved to reduce the Company&#8217;s capital stock by canceling 2.8 million shares which took
place during October 2022. This reduction was registered with the Public Registry on September 14, 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On April 26, 2023, the Company&#8217;s
General Ordinary and Extraordinary Shareholders&#8217; Meeting resolved to reduce the capital stock through the cancellation of 20.1 million
shares, the reduction taking effect in May 2023. This reduction was registered with the Public Registry on June 28, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 154 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->148<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 13</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>13.2 Earnings per share</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Basic earnings per share are calculated
by dividing the result attributable to the Company&#8217;s equity interest holders by the weighted average of outstanding common shares
during the year. Diluted earnings per share are calculated by adjusting the weighted average of outstanding common shares to reflect the
conversion of all dilutive potential common shares.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Potential common shares will be deemed
dilutive only when their conversion into common shares may reduce the earnings per share or increase losses per share of the continuing
business. Potential common shares will be deemed anti-dilutive when their conversion into common shares may result in an increase in the
earnings per share or a decrease in the losses per share of the continuing operations.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The calculation of diluted earnings per
share does not entail a conversion, the exercise or another issuance of shares which may have an anti-dilutive effect on the losses per
share, or where the option exercise price is higher than the average price of ordinary shares during the period, no dilutive effect is
recorded, being the diluted earnings per share equal to the basic. As of December 31, 2023, 2022 and 2021, the Company does not hold any
significant potential dilutive shares, therefore there are no differences with the basic earning per share.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 64%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; background-color: white; width: 11%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 11%">12.31.2022</TD>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 11%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Earning for continuing operations attributable to equity holders of the Company</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">302</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; text-align: right">456</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; text-align: right">312</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Weighted average amount of outstanding shares</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1,366</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1,381</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1,405</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Basic and diluted earnings per share from continued operations</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">0.22</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">0.33</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">0.22</TD></TR>
  <TR>
    <TD STYLE="padding-left: 24px; font-weight: bold; vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="padding-left: 24px; font-weight: bold; vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Loss for discontinued operations attributable to equity holders of the Company&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(39)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Weighted average amount of outstanding shares</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1,366</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1,381</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1,405</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Basic and diluted loss per share from discontinued operations</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(0.03)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Earning attributable to equity holders of the Company&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">302</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">456</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">273</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Weighted average amount of outstanding shares</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1,366</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,381</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,405</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Basic and diluted earning per share</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">0.22</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">0.33</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">0.19</TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 155 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->149<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 13</U>:</B> (Continuation)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">13.3
Profit distributions</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Dividends distributed to individuals,
undivided estates or beneficiaries residing abroad, derived from profits generated during fiscal years beginning on or January 1, 2018
are subject to a 7% withholding tax (see Note 2.6.1.2). The distribution of dividends is made based on the Company&#8217;s Stand-Alone
Financial Statements which are presented in pesos, the legal currency in Argentina, pursuant to regulatory requirements.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 14</U>: STATEMENT OF CASH FLOWS&#8217; COMPLEMENTARY
INFORMATION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">14.1
Adjustments to reconcile net profit to cash flows generated by operating activities</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white; width: 47%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 13%">Note</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 11%">12.31.2023</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 11%">12.31.2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 11%">12.31.2021</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Income tax</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">10.6</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">318</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">124</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">77</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Accrued interest</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">283</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">185</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">141</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Depreciations and amortizations</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">9 and 10.2</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">267</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">212</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">205</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Share of profit of joint ventures and associates</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">5.3.2</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(105)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(100)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Profit from sale/acquisition of companies&acute; interest&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(9)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(17)</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Results for property, plant and equipment sale and derecognition</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">10.4</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Result for intangible assets sale</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(2)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(2)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Impairment of property, plant and equipment, intangible assets and inventories</TD>
    <TD STYLE="font-weight: bold; text-align: center">11.1, 11.2 and 11.4</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">39</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">38</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">4</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: left">(Impairment) Recovery of impairment of financial assets</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Result from present value measurement</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.5</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">10</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">14</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Changes in the fair value of financial instruments</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(392)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(94)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">24</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Exchange differences, net</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(190)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(85)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3)</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Result from exchange of CB</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">10.5</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">14</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Result from repurchase of CB</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">10.5</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Readjustment of investment plan&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">10.4</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">9</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Costs of concessions agreements completion</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Contractual indemnity</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(7)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Contractual penalty</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">7</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Compensation for arbitration award</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">10.4</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(37)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Provision for contingecies, net</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">10.4</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">8</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Provision for environmental remediation</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">10.4</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">15</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Fair value of consortiums' previous interest</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(7)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Impairment of other receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">5</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Ecuador's transactional agreement&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">5</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Expenses recovery</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(8)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Accrual of defined benefit plans</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">9 and 10.2</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">26</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">14</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">11</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Compensation agreements&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.2</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">37</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">19</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Derecognition of unproductive wells&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.3</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Other</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(4)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(4)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Adjustments to reconcile net profit to cash flows from operating activities</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">406</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">302</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">362</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 156 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->150<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 14</U>:</B> (Continuation)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">14.2
Changes in operating assets and liabilities</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="width: 47%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 13%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 11%">12.31.2023</TD>
    <TD STYLE="text-align: center; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 11%">12.31.2022</TD>
    <TD STYLE="text-align: center; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 11%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Increase in trade receivables and other receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(151)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(233)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(41)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Increase in inventories</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(35)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(21)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(40)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Increase in trade payables and other payables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">17</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">70</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">43</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Increase in salaries and social security payables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">20</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">15</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Defined benefit plans payments</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(3)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Increase (Decrease) in tax liabilities</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">27</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">41</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Decrease in provisions</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(7)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Income tax payment</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(13)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Payments for derivative financial instruments, net</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(4)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(12)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Changes in operating assets and liabilities</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(136)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(140)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(62)</TD></TR>
  </TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">14.3
Significant non-cash transactions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 12%">12.31.2023</TD>
    <TD STYLE="text-align: center; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 12%">12.31.2022</TD>
    <TD STYLE="text-align: center; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 12%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Acquisition of property, plant and equipment through an increase in trade payables</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(82)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(75)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(51)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Borrowing costs capitalized in property, plant and equipment</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(21)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(11)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Increase of property, plant and equipment through exchange of assets</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(25)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Acquisition of subsidiary by delivering financial assets at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(35)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Receivables from sales of companies pending collection</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">40</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Receivables for acquisition of subsidiary</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Increase in investments in associates through a decrease in other receivables</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(20)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Increase in right-of-use assets through an increase in other liabilities</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(13)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(7)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Dividends pending collection</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Decrease in asset retirement obligation and wind turbines decommision through property, plant and equipment</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(5)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Decrease in associate's equity interest through increase in other receivables&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; text-align: right">6</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 157 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->151<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 15</U>: CONTINGENT LIABILITIES AND ASSETS</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">We hereinafter detail the nature of significant
proceedings as of December 31, 2023, not considered as probable by the Company based on the opinion of the Company&#8217;s internal and
external counselors.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">15.1
Labor Claim &#8211; Compensatory Plan</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company faces several legal proceedings
associated with the Defined Benefit Plan &#8220;Compensatory Plan&#8221; (see Note 11.8). We hereinafter describe the nature of currently
pending labor claims :</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">Claims on considering that the index (CPI) used to update the plan benefits is ineffective to keep their
&#8220;constant value&#8221;. In two of the causes, the Company obtained a favorable judgment, which has been appealed by the plaintiff.
On the other hand, the Company received an adverse judgment in a claim, consequently, the Company has filed an appeal before the applicable
Chamber.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">Claims on an alleged underfunding of the plan upon the elimination of the Company&#8217;s contributions
based on earnings. The Company obtained a favorable first-instance judgment. The plaintiff filed an appeal, which was sustained by the
Commercial Chamber. Against said pronouncement, the Company filed a Federal Extraordinary Appeal before the CSJN, which was disallowed
by the Appeals Chamber. Consequently, the Company filed a petition in error before the CSJN and an appeal on the grounds of unconstitutionality
before the Supreme Court of Justice of the Autonomous City of Buenos Aires, this Court requested the Chamber to refer back the proceedings
and ordered the hearing of the unconstitutionality appeal the Chamber had dismissed. In view of the Chamber's dismissal, the file was
sent to the CSJN, which will settle the dispute over jurisdiction.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">15.2
Tax claim</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Georgia, Times, Serif">-</FONT></TD><TD STYLE="text-align: justify">Tax on Liquid Fuels and Natural Gas:</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">The AFIP filed a claim in the amount
of $ 54 million against the Company for an alleged omission in the payment of Taxes on Liquid Fuels and Natural Gas during fiscal periods
January 2006 through August 2011, plus compensatory interest and a penalty of $ 38 million for such omission. The tax entity supports
its claim on the allegation that the tax benefit granted to sales to areas declared exempt by the tax law has been misappropriated. The
proceeding is currently being heard before the Federal Tax Court, and the evidentiary period has been completed.</P>


<!-- Field: Page; Sequence: 158 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->152<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 15</U>:</B> (Continuation)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">15.3
Environmental claims</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Georgia, Times, Serif">-</FONT></TD><TD STYLE="text-align: justify">The Association of Land Owners of Patagonia (ASSUPA) has brought a complaint for an indefinite amount
against the Company and other companies seeking the restoration of the environment to the state prior to the exploration, exploitation,
production, storage and transportation of hydrocarbon works conducted by the plaintiffs and the prevention of alleged future environmental
impacts on certain areas in the Austral Basin. The National Government and the Provinces of Santa Cruz and Tierra del Fuego have been
summoned as third parties. The proceeding is at the complaint answer stage.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify">ASSUPA has instituted a complaint before the CSJN against 10 companies, including the Company. The National
Government and the Provinces of Buenos Aires, La Pampa, Mendoza, Neuqu&eacute;n and R&iacute;o Negro have been summoned as third parties.
The main claim seeks that the plaintiffs should be ordered to redress the alleged environmental damage caused by the hydrocarbon activity
developed in the Neuquina Basin and to set up the environmental restoration fund provided for by section 22 of the General Environmental
Law. Subsidiarily, and in case restoration is not possible, it seeks the redress of the allegedly sustained collective damages for an
amount estimated at US$ 547 million based on a United Nations Development Program report. The proceeding is in the complaint answer stage.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify">Beatriz Mendoza and other 16 plaintiffs brought a complaint before the CSJN against the National Government,
the Province of Buenos Aires, the Government of the Autonomous City of Buenos Aires and 44 companies, including the Company, conducting
industrial activities along the Matanza-Riachuelo River Basin. The plaintiffs seek compensation for alleged damages sustained as a result
of an alleged environmental impact, its cessation, the environmental recomposition and redress, for an estimated amount of US$ 500 million
for the financing of the Matanza-Riachuelo River Basin Environmental Management Plan aiming at the restoration of the basin. The Company's
pecuniary liability would be associated with just two of its assets adjacent to the basin (one of them no longer under its operation).
Regarding the other assets along the basin that were previously operated by it, the Company has sufficient indemnity granted by the facilities&#8217;
assignee company.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify">Inertis S.A. has filed a complaint against the Company for alleged damage to the environment in a lot
owned by this company as a result of the activities conducted by the Dock Sud Plant seeking the redress of alleged damages for a nominal
amount estimated at $ 1 million and US$ 1 million, or the difference between the value of the allegedly affected lot and its valuation.
The proceeding is in the evidentiary stage completed.</TD></TR></TABLE>


<!-- Field: Page; Sequence: 159 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->153<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: -14.2pt"><B><U>NOTE 15</U>:</B>
(Continuation)</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify">Fundaci&oacute;n SurfRider Argentina has requested the performance of preliminary proceedings on account
of alleged indications of environmental damage in the City of Mar del Plata. The plaintiff seeks the recomposition of the alleged environmental
damage having collective impact, or the compensation for the alleged damages caused by all companies owning gas stations in the coastal
area of the City of Mar del Plata for an alleged fuel leakage from gas stations&#8217; underground storage tanks into the water, soil
and marine system. The Foundation estimates damages in the amount of $ 200 million. The parties agreed on a stay of the procedural time
limits to evaluate the possibility of reaching an agreement with some co-defendants. Subsequently, the partial agreement reached between
the plaintiff and some co-defendants was ratified. On its part, the Company has requested to be severed from the proceeding as it does
not currently own any service station. However, it should be noted that some service station owners (which have sued the Company), have
submitted agreements entered into with the plaintiff for their ratification under the proceeding. Some of them have already been ratified
&#8212;and the plaintiff was deemed to have partially waived the action and rights against the owners of these service stations and also
against the Company regarding them&#8212;, whereas others are in the ratification stage.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">Some neighbors of the Dock Sud area brought a complaint against 14 oil companies, including the Company,
petrochemical companies and waste incineration plants located in the Dock Sud Petrochemical Complex for an alleged damage to the environment
and alleged individual damage to their goods, health and morale. The CSJN determined it had jurisdiction over the environmental issue
and maintained the civil and commercial jurisdiction regarding the compensation for the alleged damages. The First-Instance Civil and
Commercial Court opened the evidentiary stage.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify">A neighbor of the Province of Salta owning a lot where a joint venture made up of the plaintiffs (the
Company and other companies) conducted hydrocarbon activities seeks environmental protection and restoration for alleged damage caused
by hydrocarbon prospecting, exploration and/or exploitation activities or, alternatively, a compensation in case such environmental restoration
is not possible. The Province of Salta has been summoned as a co-defendant. The proceeding is in the complaint answer stage and the Court
of Justice of Salta declared that the First-Instance Administrative Litigation Court has jurisdiction over the claim.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify">Owners of a lot in the town of Gar&iacute;n, Province of Buenos Aires, seek the performance of preliminary
proceedings for alleged indications of damage to the environment in their place of residence which would result from an alleged leakage
from the adjacent gas station under the Company&#8217;s branding. Although the Company has filed a motion for constructive abandonment
of the proceeding, the plaintiff withdrew from the proceeding, and therefore the judge in charge declared it terminated.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify">Neighbors of the Province of Neuqu&eacute;n brought a proceeding against the Company for alleged environmental
damage resulting from the hydrocarbon exploration, exploitation, transportation and well abandonment activities in which that plaintiff
has been taking part. Should this not be feasible, they claim a compensation for alleged damages to support the Environmental Restoration
Fund. Additionally, they request the redress of alleged moral damages to be allocated to the Environmental Restoration Fund. The presence
of all involved parties has been properly verified, and the lawsuit has been referred to the administrative litigation jurisdiction.</TD></TR></TABLE>


<!-- Field: Page; Sequence: 160 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->154<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: -14.2pt"><B><U>NOTE 15</U>:</B>
(Continuation)</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">Plaintiff Martinez Lidia and other three plaintiffs claim financial compensation for alleged damage to
their health and property caused by the alleged environmental affectation sustained as a result of living next to Puerto General San Martin
petrochemical plant (Rosario-Santa Fe). The Court issued an order to furnish additional evidence and, consequently, the proceeding was
consolidated with the lawsuit filed against the Company by other neighbors of the Santa Fe Plant. This last proceeding is in the evidentiary&nbsp;stage.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">A neighbor of the Province of Buenos Aires brought a complaint against the Company seeking the removal
of three fuel storage tanks and pumps and the remediation and restoration of the soils where such tanks are located on account of an alleged
environmental affectation. The proceeding is in the evidentiary stage completed.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">Neighbors of the Province of Santa Fe have brought a complaint against the Company for alleged environmental
damage. The Company obtained a favorable judgment, which has been appealed by the plaintiff.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: -21.3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">15.4
Civil and Commercial Claims</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">The &#8220;Consumidores Financieros Asociaci&oacute;n Civil Para Su Defensa&#8221; claim the nominal amount
of US$ 3,650 million as compensation for damages, Pampa, Petrolera Pampa S.A. and certain Pampa directors in office during 2016 being
co-plaintiffs together with Petroleo Brasileiro S.A. A complaint has been brought against Petrobras Brasil for the depreciation of the
share quotation value as a result of the &#8220;lava jato operation&#8221; and the so-called &#8220;Petrolao&#8221;, and the plaintiffs
claim Pampa, Petrolera Pampa S.A. and the directors&#8217; joint and several liability alleging the acquisition of indirect control in
Petrobras Argentina S.A. may have thwarted the enforcement of a possible judgment favorable to the plaintiff (for up to the amount of
the price paid by Pampa for the acquisition of control over Petrobras Argentina S.A.). The plaintiff appealed the Arbitration Court&#8217;s
decision declaring the dismissal of the main claim upon the failure to pay the arbitration fee. The Chamber of Appeals in Commercial Matters
upheld the filed extraordinary appeal. On its part, Petr&oacute;leo Brasileiro S.A. filed an appearance, requested that the lack of substance
of the filed appeal should be declared, and subsidiarily answered it. The Company was served notice of the upholding of the motion made
by the Chamber of Appeals in Commercial Matters and filed a presentation in this respect. Later, the CSJN declared the nullity of the
Chamber of Appeals in Commercial Matters&#8217; decision upholding the extraordinary appeal and referred the court file back so that a
new judgment should be rendered. The Chamber of Appeals in Commercial Matters rendered judgment dismissing the federal extraordinary appeal
brought by this Association. The Association filed a petition in error against this decision, which is currently under analysis by the
CSJN.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">We hereinafter detail the nature of significant
legal proceedings brought by the Company as of December 31, 2023 where the related inflows of economic benefits are estimated to be probable
by the Company.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">15.5
Administrative claims</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Georgia, Times, Serif">-</FONT></TD><TD STYLE="text-align: justify">CTLL (currently Pampa) filed an administrative litigation complaint against the Federal Government
                                                                                                                  for contractual breach during the January 2016-March 2016 period. CTLL claims that CAMMESA&#8217;s decision regarding the renewal
                                                                                                                  and recognition of costs associated with natural gas supply agreements should be reversed and that, subsidiarily, sustained damages
                                                                                                                  should be redressed. Later on, CTLL filed a new contentious administrative litigation complaint against the Federal Government for
                                                                                                                  contractual breach during the April 2016-October 2018 period. In the complaint for the January-March 2016 period, the closing of the
                                                                                                                  evidentiary stage was suspended on account of the proceeding&rsquo;s link with the complaint subsequently field for the April 2016- October 2018 period, proceeding
which is currently at the pleadings stage.</TD></TR></TABLE>


<!-- Field: Page; Sequence: 161 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->155<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 15</U>:</B> (Continuation)</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Georgia, Times, Serif">-</FONT></TD><TD STYLE="text-align: justify">Upon the determination of the expiration of the Veta Escondida block concession granted by the Province of Neuqu&eacute;n, the
Company filed a declaratory judgment action to achieve certainty under the original jurisdiction of the CSJN pursuant to section 322 of
the Federal Code of Civil and Commercial Procedure. Both parties agreed to suspend the proceeding to pursue a private settlement, the
rendering of judgment was requested and the CSJN has set a preliminary hearing, which was carried out. Currently, after the opinion rendered
by the National Attorney General, the proceeding is pending judgment by the CSJN.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Georgia, Times, Serif">-</FONT></TD><TD STYLE="text-align: justify">On March 31, 2021, the Company submitted a Preliminary Administrative Claim (RAP) against the National Ministry of Economy (MECON)
to claim the owed amount, plus the applicable interest, assumed by the Federal Government during the term of validity of PEN Executive
Order No. 1,053/18 on account of the exchange difference between the price of the gas purchased by gas distributors and that recognised
in their final tariffs during the April 2018 - March 2019 period. On September 1, 2021 a request for an expedited procedure was filed.
On September 1, 2021. a request for an expedited procedure was filed. On December 2, 2021, the Company filed a protective action (amparo)
on the grounds of undue delay seeking that defendant should state its opinion in this respect. A judgment was rendered dismissing the
amparo. The Company has filed an appeal against this decision, which was dismissed by the Chamber hearing the case. As MECON&#8217;s term
to state its position on the RAP has expired, the Company has brought a complaint against the Federal Government.</TD></TR></TABLE>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">15.6
Civil and Commercial Claims</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Georgia, Times, Serif">-</FONT></TD><TD STYLE="text-align: justify">EcuadorTLC (currently Pampa Bloque 18), in its capacity as assignee of the Ecuadorian company Petromanab&iacute;
S.A., filed an international arbitration proceeding against the Republic of Ecuador seeking the payment of 12% of the Settlement Value,
the latter pursuant to the terms of the Hydrocarbon Exploration and Crude Oil Exploitation Participation Agreement in Block 18 entered
into on December 19, 1995 and/or the Holl&iacute;n Common Field Unified Exploitation Operating Agreement executed on August 7, 2002 &#8212;in
both cases, as amended&#8212;. The arbitration is conducted according to the Arbitration Rules of the United Nations Commission on International
Trade Law, the applicable law is Ecuadorian law, and the seat of arbitration is the City of Santiago de Chile. In 2021, the first stages
of the international arbitration proceeding have already begun. As of the issuance of these Consolidated Financial Statements, the arbitration
proceeding is ongoing.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Georgia, Times, Serif">-</FONT></TD><TD STYLE="text-align: justify">The Company has instituted an international arbitration proceeding against High Luck Group Limited - Argentina
branch as a result of certain breaches to the Participation Assignment Agreement and the Joint Operation Agreement for the Chirete Block
entered into on April 1, 2015. On August 23, 2023, the Arbitration Court issued a Partial Award, court costs being payable by the defendant,
declaring that High Luck had breached the above-mentioned Agreement, without this fact entitling the Company to exercise the reversal
option stipulated therein. A new arbitration stage is currently underway pursuant to the schedule established by the Arbitration Court.</TD></TR></TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 0 17.85pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 162 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->156<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 16</U>: RELATED PARTIES&acute; TRANSACTIONS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">16.1
Balances with related parties</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD ROWSPAN="2" STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">As of December 31, 2023</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Trade receivables</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Other receivables</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Trade&nbsp;&nbsp;payables</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">Current</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">Non-current</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">Current</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">Current</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-decoration: underline; vertical-align: bottom; text-align: left; width: 38%">Associates and joint ventures</TD>
    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; width: 13%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; width: 13%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; width: 13%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 13%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">CTB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">1</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">TGS</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">4</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">11</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">6</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">7</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-decoration: underline; vertical-align: bottom; text-align: left">Other related parties</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">SACDE</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">8</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">Other</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">5</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">11</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">7</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">15</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">As of December 31, 2022</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Trade receivables</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Other receivables</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Trade&nbsp;&nbsp;payables</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">Current</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">Non-current</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">Current</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">Current</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-decoration: underline; vertical-align: bottom; text-align: left">Associates and joint ventures</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; background-color: white">TGS</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">5</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">17</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">6</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">7</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-decoration: underline; vertical-align: bottom; text-align: left">Other related parties</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; background-color: white">SACDE</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">7</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; background-color: white">Other</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">1</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">5</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">17</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">7</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">14</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 0 17.85pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 163 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->157<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 16</U>:</B> (Continuation)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">16.2
Operations with related parties</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center; background-color: white"><BR>
Operations for the year</TD>
    <TD ROWSPAN="2" STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; background-color: white"><BR>
Sales of goods and services <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP><BR></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Purchases
    of goods and services <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Fees for services <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Other operating expenses and income <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(4)</SUP></FONT></TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2023</TD>
    <TD STYLE="font-size: 9pt; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2022</TD>
    <TD STYLE="font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2021</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2023</TD>
    <TD STYLE="font-size: 9pt; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2022</TD>
    <TD STYLE="font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2021</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2023</TD>
    <TD STYLE="font-size: 9pt; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2022</TD>
    <TD STYLE="font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2021</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2023</TD>
    <TD STYLE="font-size: 9pt; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2022</TD>
    <TD STYLE="font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2021</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-decoration: underline; vertical-align: bottom; text-align: left; background-color: white; width: 28%">Associates and joint ventures</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 5%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">CTB</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Greenwind&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Refinor&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">11</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">9</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(11)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6)</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">TGS&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">42</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">51</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">45</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(53)</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(53)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(43)</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-decoration: underline; vertical-align: bottom; background-color: white">Other related parties</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Fundaci&oacute;n</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">SACDE&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(65)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(203)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(48)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Salaverri, Dellatorre, Burgio &amp; Wetzler&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">44</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">64</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">57</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(118)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(267)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(97)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(2)</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: -7.1pt"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Corresponds mainly to advisory services provided in the field of technical assistance and
sales of gas and refined products.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(2)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Correspond to natural gas transportation services, purchases of refined products and other
services imputed to cost of sales for US$ 53 million, US$ 191 million and US$ 50 million and infrastructure works contracted to SACDE
imputed in property, plant and equipment for US$ 65 million, US$ 76 million and US$ 47 million, of which US$ 15 million, US$ 16 million
and US$ 17 million correspond to fees and general expenses calculated on the costs incurred by SACDE and/or Pampa to carry out these
for the years ended December 31, 2023, 2022 and 2021, respectively.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(3)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Disclosed within administrative expenses.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(4)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Corresponds mainly to donations.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD ROWSPAN="2" STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white"><BR>
Operations for the year</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Finance income <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Dividends received&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Payment of dividends</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2023</TD>
    <TD STYLE="font-size: 9pt; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2022</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2021</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2023</TD>
    <TD STYLE="font-size: 9pt; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2022</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2021</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2023</TD>
    <TD STYLE="font-size: 9pt; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2022</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left; width: 28%">Associates and joint ventures</TD>
    <TD STYLE="background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 7%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">OCP</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">10</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">20</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">TGS&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-decoration: underline">Other related parties</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">EMESA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(9)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">2</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">4</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">10</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">20</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(9)</TD></TR>
  </TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Corresponds mainly to financial leases and accrued interest on loans granted.</TD>
</TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 164 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->158<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 16</U>: </B>(Continuation)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">16.3
Key management personnel remuneration</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">During the years ended December 31, 2023
2022 and 2021, the total remuneration to executive directors accrued amounts to US$ 44 million (US$ 7 million for Directors' and Sindycs'
fees and US$ 37 million in the accrual of Stock-based Compensation Plans and Compensation Agreements), US$ 26 million (US$ 7 million for
Directors' and Sindycs' fees and US$ 19 million in the accrual of Stock-based Compensation Plans and Compensation Agreements), and US$
7 million (US$ 6 million for Directors' and Sindycs' fees and US$ 1 million in the accrual of Stock-based Compensation Plans and Compensation
Agreements), respectively.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 17</U>: INVESTMENT COMMITMENTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">17.1
New generation projects</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under the National Government&#8217;s
call for the expansion of the generation offer, the Company participated in the following generation projects:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>PEPE IV</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In early 2022, works started for the expansion
of PEPE III, inaugurated in 2019 and located in the town of Coronel Rosales, Province of Buenos Aires, which production is targeted at
the large users segment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The project mainly consisted of the staged
mounting and installation of 18&nbsp;additional wind turbines with an 81 MW capacity. The expansion&#8217;s commissioning started on December
29, 2022, with the first 4 wind turbines, and ended on June 17, 2023 with the project&#8217;s last 3 wind generators.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">After completing the expansion works,
PEPE III and PEPE IV jointly have 32&nbsp;wind turbines with a 134.2 MW installed capacity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>PEPE VI </U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In February 2023, the Company started
constructing Pampa Energ&iacute;a VI Wind Farm in Bah&iacute;a Blanca, Province of Buenos Aires. The project will enable the installation
of a 300&nbsp;MW power capacity, in 3 stages, with an estimated US$ 500 million investment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Stage 1 comprises the assembly and installation
of 21 Vestas wind turbines, with their internal medium-voltage cable network, roads, a substation and a 500 KV line, which will add a
94.5&nbsp;MW capacity with an approximate US$186 million investment; this stage is expected to be operational in mid-2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Stage 2 comprises the assembly and installation
of 10 Vestas wind turbines that will add a 45 MW capacity with an approximate US$ 83 million investment; this stage is expected to be
operational in the fourth quarter of 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The energy produced by this wind park
allows for reduced carbon emissions, and will be sold through the MATER to supply large companies in the country, in compliance with the
Renewable Energy Law.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of the issuance of these Consolidated
Financial Statements, the work is 59% complete.</P>


<!-- Field: Page; Sequence: 165 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->159<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 17</U>: </B>(Continuation)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">17.2
Investment commitment for the exploration and exploitation of hydrocarbons</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 30, 2023, Executive Order
No. 2,425/23 was published, declaring the completion of the Pilot Plan for the Sierra Chata block, consisting of the execution of 14 horizontal
wells targeting the Vaca Muerta formation with a US$&nbsp;332&nbsp;million investment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of the issuance of these Consolidated
Financial Statements, the Company has committed investments until 2027 for an estimated total amount of US$ 217 million, including commitments
associated with the participations detailed in Note 5.4.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 18</U>: INCIDENTS AT THERMAL POWER PLANT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">18.1 CTGEBA</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 31, 2021, an incident occurred
at the GEBATG03 (TG21) unit, part of CTGBS&#8217;s Genelba Plus CC, causing damage to the unit&#8217;s turbine. As a result of the incident,
the CC generation capacity was reduced by approximately 50% (280 MW).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Jointly with the turbine manufacturer
(SIEMENS), the Company performed the necessary works to disassemble and repair the failure, which were successfully completed in July
2021.<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the fourth quarter of 2023, the
Company completed the necessary filings with the insurance companies, recording an expense recovery of US$ 8 million for the damages
sustained as a result of the failure and the economic losses resulting from the breach of the availability commitments.&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">18.2 CTLL</P>

<P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 20, 2023, an incident occurred at CTLL&#8217;s
GT05, causing damage to the unit's turbine. As a result of the incident, the power generation capacity was reduced by approximately 105
MW.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company, together with the turbine manufacturer,
General Electric, carried out the necessary works to repair the failure, which were completed in January 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Moreover, the Company is making all necessary
filings before the insurance companies to minimize economic losses resulting from the breach of the associated availability commitments.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 19</U>: LEASES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">19.1 Lessee</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company leases a key part for thermal
power plants operation for a 20-year term and has entered into certain oil services agreements (mainly gas compression services) which,
considering their characteristics, contain the lease of the assets for the rendering of the services with terms ranging between 2 and
6 years.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The terms of the lease agreements are
negotiated on an individual basis and comprise a broad range of terms and conditions.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 166 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->160<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 19</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The evolution of right-of-use assets and
lease liabilities recognised as of December 31, 2023 and 2022 is disclosed below:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">19.1.1 <U>Right of use assets</U></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Original values</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; width: 43%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 13%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 13%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; width: 13%">Decrease</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 13%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: center">Type of good</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">At the beginning</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">Increase</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">At the end</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Machinery and equipment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">20</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">27</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Advances to suppliers</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">6</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; background-color: white">Total at 12.31.2023</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">20</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">13</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">33</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt; background-color: white">Total at 12.31.2022</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">20</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(1)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">20</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 0.5pt solid; text-align: center">Amortization</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: middle; text-align: center">Type of good</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: middle; text-align: center">At the beginning</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: middle; text-align: center">For the year</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; vertical-align: middle">At the end</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Machinery and equipment</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(11)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(12)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; background-color: white">Total at 12.31.2023</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(11)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(1)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(12)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt; background-color: white">Total at 12.31.2022</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(8)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(3)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(11)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Net book values</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: middle; text-align: center; background-color: white">Type of good</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: middle; text-align: center; border-top-color: Black; border-top-width: 0.5pt">At 12.31.2023</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: middle; text-align: center; border-top-color: Black; border-top-width: 0.5pt">At 12.31.2022</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Machinery and equipment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">15</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Advances to suppliers</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">6</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; background-color: white">Total at 12.31.2023</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">21</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt; background-color: white">Total at 12.31.2022</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">9</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>


<!-- Field: Page; Sequence: 167 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->161<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 19</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">19.1.2 <U>Lease liabilities</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 58%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 18%">12.31.2023</TD>
    <TD STYLE="text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 18%">12.31.2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">At the beginning of the year</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">12</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">13</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Increases</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">7</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Result from measurement at present value <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Reversal of unused amounts</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Payments</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(3)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(3)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">At the end of the year</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">18</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">12</TD></TR>
  </TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Included in Other financial results.</TD>
</TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023 and 2022, this
liability is disclosed under Other current payables in the amount of US$ 4 million and US$ 2 million and Other non-current payables for
US$ 14 million and US$ 10 million, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table includes an analysis
of the Company lease liabilities, grouped according to their maturity dates. The amounts shown in the table are the contractual undiscounted
cash flows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 73%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; background-color: white; width: 23%">12.31.2023</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Three months to one year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">4</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">One to two years</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Two to three years</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">3</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Three to four years</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">3</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Four to five years</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">3</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">More than five years</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">17</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">32</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">19.1.3 <U>Short-term or low value leases</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023 and 2022, the
Company has recognised administrative costs and expenses in the amount of US$ 6 million each year on account of lease payments associated
with short-term leases.</P>

<!-- Field: Page; Sequence: 168 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->162<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 19</U>: </B>(Continuation)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">19.2 Lessor</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0">19.2.1 <U>Financial leases</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Corresponding to the financing granted
to TGS for the sale of certain property, plant and equipment belonging to the Oil &amp; Gas business segment. This agreement was entered
into on August 11, 2016 and consists of the collection of 119 monthly consecutive installments of US$ 623 thousand, without considering
taxes, and a purchase option for a like amount payable at the end of the 120 months of the contract life.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023 and 2022, this
receivable is disclosed under Other current receivables in the amount of US$ 6 million both years, respectively and under Other non-current
receivables for US$ 11 million and US$ 17 million, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table includes an analysis
of the Company receivable, grouped according to its maturity dates. The amounts shown in the table are the contractual undiscounted cash
flows:</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 73%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; background-color: white; width: 23%">12.31.2023</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Less than three months</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Three months to one year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">4</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>One to two years</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">7</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Two to three years</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">4</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">17</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">19.2.2 <U>Operating leases</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company has executed lease agreements
to install commercial and administrative offices in Pampa Energ&iacute;a S.A.&#8217;s building, located in Maip&uacute; 1, Autonomous
City of Buenos Aires, for three to five years terms.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Future minimum collections from operating
leases as of December 31, 2023 are detailed below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="padding-left: 24px; font-weight: bold; vertical-align: top; text-align: left; background-color: white; width: 73%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 23%">12.31.2023</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Three months to one year</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">One to two years</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">2</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Total income from operating leases for the fiscal
year ended December 31, 2023 amounts to US$ 1 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 169 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->163<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 20</U>: TERMINATION OF HYDROELECTRIC CONCESSIONS</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As the hydroelectric concessions timely
granted by the Federal Government and, in some cases, by the Provinces approach expiration, on March 10, 2022, SE Resolution No. 130/22
was published, creating a Concessioned Hydroelectric Exploitations Team (&#8220;ETAHC&#8221;) to evaluate the status of the hydropower
concessions under national jurisdiction, including HIDISA, HINISA, and HPPL.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">This team will be presided over by the
Secretary of Energy (or the person appointed by him) and coordinated by a person with proven experience in the field. It will also be
made up of representatives of the SE, CAMMESA, the ENRE, and ENARSA. Furthermore, the Dam Safety Regulatory Body and water management
and environmental protection authorities are invited to appoint a representative in the team. Additionally, ENARSA is entrusted with the
technical audit of the power generation equipment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The concessions' status report had to
be submitted within two years for the HIDISA and HINISA concessions, expiring in 2024, whereas the term for issuing the report for HPPL,
which concession expires in 2029, would be later determined. Subsequently, SE Resolution No. 486/23 modified the deadlines for the submission
of reports by the ETAHC. In the case of HINISA and HIDISA, the ETAHC's deadline for the submission of the reports will be December 1,
2023 and April 19, 2024, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Later, SE Resolution No. 574/23, making
use of the provisions of the concession agreements, provided that the current Alicur&aacute;, El Choc&oacute;n Arroyito, Cerros Colorados
and Piedra del &Aacute;guila's concessionaires should continue in charge of their operation and maintenance for a 60-day term following
termination of the concession. ENARSA was appointed as an observer, with broad powers during the transition term. To assist ENARSA during
that period, the provinces of Neuqu&eacute;n and R&iacute;o Negro were invited to appoint a representative to act jointly with the representative
to be appointed by the National Ministry of Economy.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In October 2023, SE Resolution No. 815/23
granted an additional extension of the Alicur&aacute;, El Choc&oacute;n, Arroyito and Cerros Colorados Hydroelectric Power Plants&#8217;
concessions for 100&nbsp;calendar days as from the expiration of the 60-day term provided by SE Resolution No. 574/23. On January 17,
2024, through SE Resolution No. 2/24, a new 60-calendar day extension was granted following the termination of the previous extensions,
maintaining ENARSA in its role of observer.</P>


<!-- Field: Page; Sequence: 170 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->164<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</TD></TR></TABLE><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></P><P STYLE="font: 11pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For the years ended December 31, 2023, 2022 and 2021</B></FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">(In millions of US$ &#8211; unless otherwise stated)</FONT></P><P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 21</U>: DOCUMENTATION KEEPING</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On August 14, 2014, the CNV issued General
Resolution No.&nbsp;629, which introduced modifications to the provisions applicable to the keeping and conservation of corporate and
accounting books and commercial documentation. To such effect, the Company, have sent non-sensitive work papers and information corresponding
to the periods not covered by the statute of limitations for their keeping in the Administraci&oacute;n de Archivos S.A. (AdeA)&#8217;s
data warehouse located at Ruta 36, km 34.5, Florencio Varela, Province of Buenos Aires and in the Iron Mountain Argentina S.A.&#8217;s
data warehouses located at the following addresses:</P>

<P STYLE="font: 9pt Georgia, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">Azara 1245 &#8211; C.A.B.A.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">Don Pedro de Mendoza 2163 &#8211; C.A.B.A.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">Amancio Alcorta 2482 - C.A.B.A.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">San Miguel de Tucum&aacute;n 601, Carlos Spegazzini, Municipality of Ezeiza, Province of Buenos Aires.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">A list of the documentation delivered
for storage, as well as the documentation provided for in Article 5.a.3) Section I, Chapter V, Title II of the PROVISIONS (2013 regulatory
provisions and amending rules), is available at the Company headquarters.</P>

<P STYLE="font: bold 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 22</U>: OIL AND GAS RESERVES (Information not
covered by the auditors&#8217; report)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The table below presents the estimated
proved reserves of oil (including crude oil, condensate and LNG) and natural gas, by geographic area as of December 31, 2023.</P>

<P STYLE="font: 8.5pt/120% Trebuchet MS, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="8" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">Proved Reserves</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="width: 18%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 13%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 13%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 13%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 13%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 13%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 13%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Proved Developed</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Proved Undeveloped</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Total Proved</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Oil and LNG <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: center">Natural Gas <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Oil and LNG <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: center">Natural Gas <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Oil and LNG <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: center">Natural Gas <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Argentina</TD>
    <TD STYLE="text-align: right">7,592</TD>
    <TD STYLE="text-align: right">20,523</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3,994</TD>
    <TD STYLE="text-align: right">11,312</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">11,586</TD>
    <TD STYLE="text-align: right">31,835</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Total at 12.31.2023</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">7,592</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">20,523</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">3,994</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">11,312</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">11,586</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">31,835</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 120%">In thousands of barrels.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(2)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 120%">In millions of cubic meters.</FONT></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 23</U>: SUBSEQUENT EVENTS</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Remuneration for sales to the spot market</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to SE Resolution No. 9/23 dated February
8, 2024, remuneration values for spot energy generation were updated, providing for a 73.9% increase on the values approved by SE Resolution
No. 869/23 as from the February 2024 economic transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->165<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"></P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>ex99-2.htm
<DESCRIPTION>EX-99.2
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish
for publication in Argentina</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 70.8pt"><IMG SRC="image_003.jpg" ALT="" STYLE="height: 122px; width: 426px"><B></B></TD><TD><B> </B></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0"><B>CONSOLIDATED FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0"><B>AS OF DECEMBER 31, 2023 AND 2022</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 35.4pt; text-indent: -35.4pt"><B>FOR THE YEARS ENDED DECEMBER 31,
2023, 2022 AND 2021</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 35.4pt; text-indent: -35.4pt"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 4.5pt">(In millions of Argentine Pesos (&#8220;$&#8221;))</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 13pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 3pt">&nbsp;</P>

<P STYLE="font: bold 10pt/120% Georgia, Times, Serif; margin: 0; text-align: left"></P>

<P STYLE="font: 16pt Georgia, Times, Serif; margin: 0 0 10pt; color: #D04A02">Audit report issued by independent auditors</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 41.95pt 0 0">To the Board of Directors and Shareholders of</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 41.95pt 0 0">Pampa Energ&iacute;a S.A.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 41.95pt 0 0">Legal address: Maip&uacute;, 1</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 41.95pt 0 0">Autonomous City of Buenos Aires</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 41.95pt 0 0">Tax Code No.: 30-52655265-9</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt"><B>Opinions on the consolidated financial statements </B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 100%; border-top: black 1pt solid; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 2.85pt; padding-right: 0.2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #D04A02"><B>Opinion</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 1pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt">We have audited the consolidated financial statements of Pampa Energ&iacute;a
S.A. and its subsidiaries (the &#8220;Group&#8221;), which comprise the consolidated statement of financial position as of December 31,
2023, the consolidated statements of comprehensive income, of changes in equity and of cash flows for the year ended in that date, and
the notes to the consolidated financial statements, which include material information of accounting policies and other explanatory information.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt">In our opinion, the accompanying consolidated financial statements
present fairly, in all material respects, the consolidated financial position of the Group as of December 31, 2023, and the consolidated
results of its operations and its consolidated cash flows for the year ended in that date in conformity with IFRS Accounting Standards.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 100%; border-top: black 1pt solid; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 2.85pt; padding-bottom: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #D04A02"><B>Basis for opinion</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 1pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">We conducted our audit in accordance with International Standards
on Auditing (ISAs). These standards were adopted as auditing standards in Argentina through Technical Resolution No. 32 of the Argentine
Federation of Professional Councils for Economic Sciences (FACPCE for its acronym in Spanish), as approved by the International Auditing
and Assurance Standards Council (IAASB). Our responsibilities under these standards are further described in the section &#8220;Auditor&#8217;s
responsibilities for the audit of the consolidated financial statements&#8221; of this report.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">We believe that the audit evidence we have obtained is sufficient and appropriate
to provide a basis for our opinion.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-weight: normal">Independence</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">We are independent of the Group in accordance with the International Code
of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board
for Accountants (IESBA Code) together with the ethical requirements that are relevant to our audit of the consolidated financial statements
in Argentina, and we have fulfilled our other ethical responsibilities in accordance with those requirements and the IESBA Code.</P>


<!-- Field: Page; Sequence: 2; Options: NewSection -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="text-align: left; font: 9pt Georgia, Times, Serif; margin: 0">Price Waterhouse &amp; Co. S.R.L., Bouchard 557, 8<SUP>th</SUP> floor, C1106ABG - Autonomous City of Buenos Aires</P><P STYLE="font: 9pt Georgia, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">T: +(54.11) 4850.0000, www.pwc.com/ar</P></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 3pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 100%; border-top: black 1pt solid; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 2.85pt; padding-bottom: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #D04A02"><B>Key Audit matters</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 1pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">Key audit matters are those matters that, in our professional judgment,
were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in
the context of our audit of the consolidated financial statements as a whole and in forming our opinion thereon, and we do not provide
a separate opinion on these matters.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: #7D7D7D">
    <TD STYLE="width: 50%; padding-top: 2.85pt; padding-bottom: 5pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white">Key audit matter </FONT></TD>
    <TD STYLE="width: 50%; padding-top: 2.85pt; padding-bottom: 5pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white">How our audit addressed the key audit matter</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #7D7D7D 1pt solid; padding-top: 2.85pt; padding-bottom: 5pt">
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0; color: #7D7D7D"><B>The Impact of Estimates of Oil and Gas Reserves on
    Oil and Gas Segment Property, Plant and Equipment and Allocated Goodwill.</B></P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">As of December 31, 2023, the consolidated financial statements present
    the following accounts related to the oil and gas segment:</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Property, plant and equipment of the segment (Note 11.1):
    $ 919,758 million, </FONT></P>
    <P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Goodwill (Note 11.2): $ 27,978 million, </FONT></P>
    <P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Depreciation expense of the segment (Note 11.1): $ 50,337
    million.</FONT></P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">As described in Note 6.1.7 to the consolidated financial statements,
    the Company&#8217;s management estimates oil and gas reserves which are used in the determination of depreciation of property, plant and
    equipment used in the areas of oil and gas, as well as assessing the recoverability of these assets considering, if applicable, the goodwill
    allocated to the oil and gas segment. There are numerous uncertainties in estimating proved and unproved reserves and future production
    profiles, development costs and prices, including several factors beyond the producer&#8217;s control. Reserve engineering is a subjective
    process of estimating underground accumulations involving a certain degree of uncertainty. Reserves estimates depend on the quality of
    the available engineering and geological data as of the estimation date and on the interpretation and judgment thereof. Periodic revisions
    to the estimated oil and gas reserves and related future net cash flows may be necessary as a result of changes in a number of factors,
    including reservoir performance, new drilling, oil and gas prices, cost, technological advances, new geological or geophysical data and
    other economic factors.</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">The Company&#8217;s estimates of oil and gas reserves have been developed
    by employed specialists, specifically petroleum engineers, and audited by independent specialists engaged by the Company.</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="border-bottom: #7D7D7D 1pt solid; padding-top: 2.85pt; padding-bottom: 5pt">
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">The audit procedures performed in relation to this key audit matter
    included, among others:</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Obtain an understanding, evaluate and test the effectiveness
    of the controls related to management&#8217;s process to estimate of oil and gas reserves.</FONT></P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in">&nbsp;</P>
    <P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Evaluating the methods and significant assumptions used
    by management in developing these estimates, related to future production profiles, development costs and prices.</FONT></P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Evaluate the reasonableness of the estimates for proven
    oil and gas reserves through the use of the specialist's work engaged by the Company to audit the reserves. As a basis for using this
    work, the specialists&#8217; competence, capability and objectivity were evaluated, as well as their methods and assumptions.</FONT></P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in">&nbsp;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Test the data used by the Company&#8217;s engaged specialists
    and an evaluation of their findings.</FONT></P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in">&nbsp;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Obtaining evidence to support the reasonableness of the
    significant assumptions, including whether the assumptions used were reasonable considering the past performance of the Company, and whether
    they were consistent with evidence obtained in other areas of the audit.</FONT></P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P></TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 3; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: #7F7F7F">
    <TD STYLE="width: 50%; border-top: #7D7D7D 1pt solid; border-bottom: #7D7D7D 1pt solid; font: 12pt/110% Times New Roman, Times, Serif; padding-top: 2.85pt; padding-bottom: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white; line-height: 110%">Key audit matter </FONT></TD>
    <TD STYLE="width: 50%; border-top: #7D7D7D 1pt solid; border-bottom: #7D7D7D 1pt solid; font: 12pt/110% Times New Roman, Times, Serif; padding-top: 2.85pt; padding-bottom: 5pt; padding-left: 0.15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white; line-height: 110%">How our audit addressed the key audit matter</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #7D7D7D 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 2.85pt; padding-bottom: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">It is a key audit matter because developing the estimates of oil and gas reserves involves critical judgment by management, including the use of specialists, which in turn led to a high degree of auditor judgment and effort in performing procedures to evaluate the significant assumptions used in developing those estimates, related to future production profiles, development costs and prices.</FONT></TD>
    <TD STYLE="border-bottom: #7D7D7D 1pt solid; font: 12pt/110% Times New Roman, Times, Serif; padding-top: 2.85pt; padding-bottom: 5pt; padding-left: 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt; line-height: 110%">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 110%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; line-height: 110%">Testing that the estimates of oil and gas reserves were appropriately included in the Company&#8217;s determination of depreciation expense, as well as in the impairment of non-financial assets assessment of oil and gas segment.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #7D7D7D 1pt solid; padding-top: 2.85pt; padding-bottom: 5pt">
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; color: #7D7D7D"><B>Impairment of Non-Financial Long-Lived Assets related
    to Rinc&oacute;n del Mangrullo and el Tordillo / la Tapera cash generating units of the Oil and Gas Segment.</B></P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">As of December 31, 2023, the consolidated financial statements present
    the following non-financial long-lived assets:</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Property, plant and equipment of the oil and gas segment
    (Note 11.1): $ 919,758 million. </FONT></P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">As described in Notes 4.9 and 6.1.1 to the consolidated financial statements,
    management analyzes the recoverability of its non-financial long-lived assets on a periodical basis or when events or changes in circumstances
    indicate their recoverable amount may be below its carrying amount. In order to evaluate if there is evidence that a cash generating unit
    (CGU) could be affected, both external and internal sources of information are analyzed. Facts and circumstances are considered such as
    the discount rate used in the cash flow projections of the CGUs and the condition of the business in terms of market and economic factors,
    such as the cost of inventories, oil and gas, the international price of petrochemical products, the regulatory framework of the energy
    industry, projected capital investments and the evolution of energy demand. The recoverable amount is the higher of value in use and fair
    value less costs of disposal. Management used value in use to determine the recoverable amount. For the purpose of evaluating impairment
    losses, assets are grouped into CGUs. The value in use of each CGU is determined based on projected and discounted cash flows, using discount
    rates which considered the business segment and the country conditions where the operations are performed for each CGU. As described in
    Note 11.1.1, the cash flow projections included significant judgments and assumptions related to reference prices for products, future
    demand per type of product, costs evolution,</P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; color: #7D7D7D"><B>&nbsp;</B></P></TD>
    <TD STYLE="border-bottom: #7D7D7D 1pt solid; padding-top: 2.85pt; padding-bottom: 5pt">
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 5pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">The audit procedures performed in relation to this key audit matter
    included, among others:</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Obtain an understanding, evaluate and test the effectiveness
    of the controls related to the estimation process of the recoverable value of non-financial long-lived assets.</FONT></P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in">&nbsp;</P>
    <P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Evaluating the appropriateness determination of the Company&#8217;s
    CGUs, as well as the allocation of the assets and liabilities thereto.</FONT></P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Evaluating the reasonableness of management&#8217;s assessment
    over the existence of impairment indicators.</FONT></P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Testing management&#8217;s process for developing the value
    in use estimate.</FONT></P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Evaluating the appropriateness of the discounted cash flow
    model, as well as the mathematical precision of the calculations </FONT></P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Test the completeness, accuracy, and relevance of the data
    and underlying assumptions used by management in the model related to reference prices for products, future demand per type of product,
    costs evolution, macroeconomic variables such as inflation and exchange rates. This assessment involved evaluating whether the assumptions
    used were reasonable considering (i) the current and past performance of the CGUs, (ii) the consistency with external market and industry
    data, and (iii) whether these assumptions were consistent with evidence obtained in other areas of the audit.</FONT></P></TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: #7F7F7F">
    <TD STYLE="width: 50%; border-top: #7D7D7D 1pt solid; border-bottom: #7D7D7D 1pt solid; font: 12pt/110% Times New Roman, Times, Serif; padding-top: 2.85pt; padding-bottom: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white; line-height: 110%">Key audit matter </FONT></TD>
    <TD STYLE="width: 50%; border-top: #7D7D7D 1pt solid; border-bottom: #7D7D7D 1pt solid; font: 12pt/110% Times New Roman, Times, Serif; padding-top: 2.85pt; padding-bottom: 5pt; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white; line-height: 110%">How our audit addressed the key audit matter</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #7D7D7D 1pt solid; padding-top: 2.85pt; padding-bottom: 5pt">
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">macroeconomic variables such as inflation and exchange rates, the discount
    rate, among others.</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">As a result of the analysis carried out, management has identified impairment
    indicators for the assets of the Rinc&oacute;n del Mangrullo and el Tordillo / la Tapera CGUs of oil and gas segment as of December 31,
    2023 and, according to Note 11.1.1, has evaluated their recoverability, determining an impairment loss of $30,456 million.</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">It is a key audit matter because, both determining the existence of
    impairment indicators and estimating recoverable values involves the application of critical judgment and significant estimates by management,
    which are subject to uncertainty and future events.</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">This in turn led to a high degree of auditor judgment, subjectivity,
    and effort in performing procedures to evaluate cash flow projections performed by management and significant assumptions related to reference
    prices for products, future demand per type of product, costs evolution, macroeconomic variables such as inflation and exchange rates
    and the discount rate.</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="border-bottom: #7D7D7D 1pt solid; padding-top: 2.85pt; padding-bottom: 5pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Evaluating the sufficiency of the information disclosed
    in the consolidated financial statements regarding the evaluation of the recoverable value of long-lived non-financial assets.</FONT></P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">Additionally, the audit effort involved the use of professionals with
    specialized skill and knowledge to assist in evaluating the discounted cash flow model and the discount rate.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #7D7D7D 1pt solid; padding-top: 2.85pt; padding-bottom: 5pt">
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; color: #7D7D7D"><B>Acquisitions of additional interest in Rinc&oacute;n de
    Aranda and divestment in Greenwind S.A. &#8211; fair value determination of assets acquired and liabilities assumed.</B></P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">As described in Notes 4.4.5 and 5.2.6 to the consolidated financial
    statements, on August 16, 2023, the Company completed the acquisitions of the additional 45% interest in the Rinc&oacute;n de Aranda block,
    and transferred 100% of its equity stake in Greenwind S.A., which only asset is the Mario Cebreiro Wind Farm.</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">On the closing date, the Company recorded a gain of $ 2,485 million
    to reflect the fair value of the previously held 55% stake in Rinc&oacute;n de Aranda block, and a gain of $ 85 million to reflect the
    result of the asset swap.</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">The Company&acute;s management applied significant judgment in estimating
    the fair value of the assets acquired and liabilities assumed, which involved the use of key estimates and assumptions with respect to</P></TD>
    <TD STYLE="border-bottom: #7D7D7D 1pt solid; padding-top: 2.85pt; padding-bottom: 5pt">
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 6pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 7pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">The audit procedures performed in relation to this key audit matter
    included, among others:</P>
    <P STYLE="font: 4pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 0 0 0 12.9pt; text-indent: -12.9pt"><FONT STYLE="font-family: Symbol; font-size: 7pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Obtain and read the purchase agreements and identify the
    key terms and conditions with accounting impact, including the total consideration assumed, the effective date of the acquisition and
    the integrity of the assets and liabilities identified by the Company&#8217;s management.<BR>
    <BR>
    </FONT></P>
    <P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 0 0 0 12.9pt; text-indent: -12.9pt"><FONT STYLE="font-family: Symbol; font-size: 9pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Obtain an understanding, evaluate and test the effectiveness
    of the controls related to the acquisition accounting, including controls over management's valuation of assets acquired and liabilities
    assumed and controls over the development related to reference prices for products, future demand per type of product, costs evolution
    and macroeconomic variables such as inflation, exchange rates and the discount rate.</FONT></P></TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-top: #7D7D7D 1pt solid; border-bottom: #7D7D7D 1pt solid; padding-top: 2.85pt; padding-bottom: 5pt">
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">reference price for products, future demand per type of product, cost
    evolution and macroeconomic variables such as inflation, exchange rates and the discount rate.</P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; color: #7D7D7D"><B>&nbsp;</B></P></TD>
    <TD STYLE="width: 50%; border-top: #7D7D7D 1pt solid; border-bottom: #7D7D7D 1pt solid; padding-top: 2.85pt; padding-bottom: 5pt">
    <P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 0 0 0 12.9pt; text-indent: -12.9pt"><FONT STYLE="font-family: Symbol; font-size: 9pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Test management's cash flow projections used to estimate
    the fair value of assets acquired and liabilities assumed, which included evaluating the reasonableness of key assumptions used by the
    company related to reference prices for products, future demand per type of product, costs evolution and macroeconomic variables such
    as inflation, exchange rates and the discount rate. Evaluating management&#8217;s assumptions involved evaluating whether the assumptions
    used by management were reasonable considering (i) the current and past performance of the acquired business, (ii) the consistency with
    external market and industry data, and (iii) whether these assumptions were consistent with evidence obtained in other areas of the audit.</FONT></P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 0 0 0 12.9pt; text-indent: -12.9pt"><FONT STYLE="font-family: Symbol; font-size: 9pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Evaluate the sufficiency of the information disclosed in
    the consolidated financial statements in relation to acquisitions.</FONT></P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>
    <P STYLE="font: 9pt/110% Arial, Helvetica, Sans-Serif; margin: 0">Additionally, Professionals with specialized skill and knowledge were
    used to assist in evaluating the appropriateness of valuation method and the reasonableness of the discount rate.</P></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 100%; border-top: black 1pt solid; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 2.85pt; padding-bottom: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #D04A02"><B>Information accompanying the consolidated financial statements (&#8220;other information&#8221;)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 1pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">The other information includes the Annual report and the Summary.
The Board of Directors is responsible for the other information.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">Our opinion on the consolidated financial statements does not cover
the other information and, therefore, we do not express any audit conclusions.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">In connection with our audit of the consolidated financial statements,
our responsibility is to read the other information and, in doing so, consider whether it is materially inconsistent with the consolidated
financial statements, or our knowledge obtained in the audit, or if for some other reason it appears that there is a significant misstatement.
If, based on the work we have done, we consider that, where it is our competence, there is a significant inaccuracy in the other information,
we are obliged to report it. We have nothing to report on this.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 100%; border-top: black 1pt solid; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 2.85pt; padding-bottom: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #D04A02"><B>Responsibilities of the Board of Directors and the Audit Committee in relation to the consolidated financial statements</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 1pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">Management of Pampa Energ&iacute;a S.A. is responsible for the preparation
and fair presentation of the consolidated financial statements in accordance with IFRS Accounting Standards and for such internal control
as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement,
whether due to fraud or error.</P>


<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">In preparing the consolidated financial statements, the Board is responsible
for assessing the Group&#8217;s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and
using the going concern basis of accounting unless the Board either intends to liquidate the Group or to cease operations, or has no realistic
alternative but to do so.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">Those charged with the Audit Committee are responsible for overseeing
the Group&#8217;s financial reporting process.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 100%; border-top: black 1pt solid; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 2.85pt; padding-bottom: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #D04A02"><B>Auditor&#8217;s responsibilities for the audit of the consolidated financial statements</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 1pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">Our objectives are to obtain reasonable assurance about whether the
consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor&#8217;s
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these consolidated financial statements.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">As part of an audit in accordance with ISAs, we exercise professional
judgment and maintain professional skepticism throughout the audit. We also:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Identify and assess the risks of material misstatement of
the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations,
or the override of internal control. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Obtain an understanding of internal control relevant to the
audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion
on the effectiveness of the Company&#8217;s internal control. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Evaluate the appropriateness of accounting policies used and
the reasonableness of accounting estimates and related disclosures made by management. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Conclude on the appropriateness of management&#8217;s use
of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events
or conditions that may cast significant doubt on the Company&#8217;s ability to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditor&#8217;s report to the related disclosures in the consolidated financial
statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up
to the date of our auditor&#8217;s report. However, future events or conditions may cause the Company to cease to continue as a going
concern. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Evaluate the overall presentation, structure and content of
the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying
transactions and events in a manner that achieves fair presentation.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Noto Sans Symbols; font-size: 9pt">&#9679;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Obtain sufficient and appropriate elements of judgment in
relation to the financial information of the entities or business activities within the Company to express an opinion on the consolidated
financial statements. We are responsible for the direction, supervision and performance of the audit of the Group. We are solely responsible
for our audit opinion.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">We communicate with those charged with the Audit Committee of the
Company regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant
deficiencies in internal control that we identify during our audit.</P>


<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">We also provide those charged with the Audit Committee of the Company
with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships
and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats
or safeguards applied.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">From the matters communicated with those charged with the Audit Committee
of the Company, we determine those matters that were of most significance in the audit of the consolidated financial statements of the
current period and are therefore the key audit matters. We describe these matters in our auditor&#8217;s report unless law or regulation
precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated
in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such
communication.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt"><B>Report of compliance with regulations in force</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 14pt 0">In compliance with regulations in force, we report that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">a)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">the consolidated financial statements of Pampa Energ&iacute;a
S.A. are recorded in the book &quot;Inventories and Balances&quot; and comply, in what is a matter of our competence, with the provisions
of the General Law of Companies and the pertinent resolutions of the National Securities Commission;</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">b)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">the consolidated financial statements of Pampa Energ&iacute;a
S.A. arise from accounting records carried in their formal aspects in accordance with legal provisions, which maintain the security and
integrity conditions on the basis of which they were authorized by the National Securities Commission;</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">c)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">as of December 31, 2023, the debt accrued in favor of the
Argentine Integrated Pension System of Pampa Energ&iacute;a S.A. that arises from its accounting records and calculations amounted to
$ 1.555 million, not being due as of that date;</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">d)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">as required by article 21, subsection b), Chapter III, Section
VI, Title II of the regulations of the National Securities Commission, we report that the total fees for auditing and related services
billed to Pampa Energ&iacute;a S.A. during the year ended December 31, 2023 account for:</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">d1)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">92.51% of the total fees for services billed to Pampa Energ&iacute;a
S.A. for all items during that year;</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">d2)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">50.86% of the total fees for auditing and related services
billed to Pampa Energ&iacute;a S.A., its parent companies, subsidiaries and related companies during that year;</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">d3)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">47.89% of the total fees for services billed to Pampa Energ&iacute;a
S.A., its parent company, subsidiaries and related companies for all items during that year;</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">e)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">we have applied the procedures on the prevention of money
laundering and financing of terrorism for Pampa Energ&iacute;a S.A. provided for in the corresponding professional standards issued by
the Professional Council of Economic Sciences of the Autonomous City of Buenos Aires.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">Autonomous City of Buenos Aires, March 06, 2024</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 50%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; padding-top: 2.85pt; padding-bottom: 5pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><BR>
    PRICE WATERHOUSE &amp; CO. S.R.L.</P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">(Partner)</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.85pt; padding-bottom: 5pt">
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Carlos Mart&iacute;n Barbafina</P>
    <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P></TD></TR>
  </TABLE>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">&nbsp;</P>



<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: bold 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px">&nbsp;</P>

<P STYLE="font: bold 10pt/120% Times New Roman, Times, Serif; margin: 0; text-align: left"><U>GLOSSARY OF TERMS</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 14.15pt 12pt 0; text-align: justify">The following are not technical
definitions, but they are helpful for the reader&#8217;s understanding of some terms used in the notes to the Consolidated Financial Statements
of the Company.</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-decoration: underline; width: 20%">Terms</TD>
    <TD STYLE="text-decoration: underline; width: 80%">Definitions</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>ADR</TD>
    <TD>American Depositary Receipt</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>AFIP</TD>
    <TD>Federal Administration of Public Revenue&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>BCBA</TD>
    <TD>Buenos Aires Stock Exchange</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>BCRA</TD>
    <TD>Argentina&rsquo;s Central Bank</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>BNA</TD>
    <TD>Banco de la Naci&oacute;n Argentina</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>BO</TD>
    <TD>Official Gazette</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>BYMA</TD>
    <TD>Bolsas y Mercados Argentinos&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CAMMESA</TD>
    <TD>Compa&ntilde;&iacute;a Administradora del Mercado El&eacute;ctrico Mayorista S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CB</TD>
    <TD>Corporate Bonds</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CC</TD>
    <TD>Combined Cycle&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CGU</TD>
    <TD>Cash-Generating Unit</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CENCH</TD>
    <TD>Hydrocarbons Unconventional Exploitations Concessions</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CGU</TD>
    <TD>Cash-Generating Unit</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CIESA</TD>
    <TD>Compa&ntilde;&iacute;a de Inversiones de Energ&iacute;a S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CISA</TD>
    <TD>Comercializadora e Inversora S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Citelec</TD>
    <TD>Compa&ntilde;&iacute;a Inversora en Transmisi&oacute;n El&eacute;ctrica Citelec S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CNV</TD>
    <TD>National Securities Commission of Argentina&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CNY</TD>
    <TD>Yuan R.China&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CPB</TD>
    <TD>Piedra Buena thermal power plant</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CPI</TD>
    <TD>Consumer's price index</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CSJN</TD>
    <TD>Argentina&rsquo; Supreme Court of Justice</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">CTB&nbsp;&nbsp;&nbsp;</TD>
    <TD>CT Barrag&aacute;n S.A.</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">CTEB</TD>
    <TD>Ensenada Barrag&aacute;n thermal power plant</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CTG</TD>
    <TD>G&uuml;emes thermal power plant</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"></P>


<!-- Field: Page; Sequence: 9; Options: NewSection -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B><U>GLOSSARY OF TERMS:</U></B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-decoration: underline; width: 20%">Terms</TD>
    <TD STYLE="text-decoration: underline; width: 80%">Definitions</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CTGEBA</TD>
    <TD>Genelba thermal power plant</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CTIW</TD>
    <TD>Ingeniero White power plant</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CTLL</TD>
    <TD>Loma La Lata thermal power plant</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CTPP</TD>
    <TD>Parque Pilar power plant</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>EcuadorTLC / PB 18</TD>
    <TD>EcuadorTLC S.A. (currently Pampa Bloque 18)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Edenor</TD>
    <TD>Empresa Distribuidora y Comercializadora Norte S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>EMESA</TD>
    <TD>Empresa Mendocina de Energ&iacute;a S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>ENARGAS</TD>
    <TD>National Regulator of Gas</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>ENARSA</TD>
    <TD>Energ&iacute;a Argentina S.A .</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>ENRE&nbsp;</TD>
    <TD>National Regulatory Authority of Electricity&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>GASA</TD>
    <TD>Generaci&oacute;n Argentina S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Greenwind</TD>
    <TD>Greenwind S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>GU</TD>
    <TD>Large users</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>GU300</TD>
    <TD>Large users with demand greater than 300 kW</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>GUDI</TD>
    <TD>Distributors&rsquo; large users</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>GUMA&nbsp;</TD>
    <TD>Major large users</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>GUME</TD>
    <TD>Minor large user</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>HI</TD>
    <TD>Hydroelectric</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>HB</TD>
    <TD>Pumped Hydroelectric Power Plant</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>HIDISA</TD>
    <TD>Hidroel&eacute;ctrica Diamante S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>HINISA</TD>
    <TD>Hidroel&eacute;ctrica Los Nihuiles S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>HPPL</TD>
    <TD>Hidroel&eacute;ctrica Pichi Pic&uacute;n Leuf&uacute;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>IAS</TD>
    <TD>International Accounting Standards&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>IASB</TD>
    <TD>International Accounting Standards Board</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>IFRIC</TD>
    <TD>International Financial Reporting Interpretations Committee</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"></P>


<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B><U>GLOSSARY OF TERMS:</U></B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-decoration: underline; width: 20%">Terms</TD>
    <TD STYLE="text-decoration: underline; width: 80%">Definitions</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>IFRS</TD>
    <TD>International Financial Reporting Standards</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>INDEC</TD>
    <TD>National Institute of Statistics and Censuses</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>IPIM</TD>
    <TD>Wholesale Domestic Price Index</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>LGS</TD>
    <TD>Argentine Business Organizations Law&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>LNG</TD>
    <TD>Liquefied Natural Gas&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>MAT&nbsp;</TD>
    <TD>WEM&rsquo;s Forward Market&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>MATER</TD>
    <TD>Renewable Energy Forward Market</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>MBTU</TD>
    <TD>Million of BTU</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>MEyM</TD>
    <TD>Ministry of Energy and Mining&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>MLC&nbsp;</TD>
    <TD>Foreign Exchange Market</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>MVAr&nbsp;</TD>
    <TD>Reactive kilovolt-ampere</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>MW</TD>
    <TD>Megawatt</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>NYSE</TD>
    <TD>New York Stock Exchange</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>OCP</TD>
    <TD>Oleoductos de Crudos Pesados Ltd</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>OCPSA</TD>
    <TD>Oleoductos de Crudos Pesados S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Oldelval</TD>
    <TD>Oleoductos del Valle S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PE Arauco</TD>
    <TD>Arauco Wind Farm</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PEB</TD>
    <TD>Pampa Energ&iacute;a Bolivia S.A.&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PEN</TD>
    <TD>National Executive Branch</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PEPE II</TD>
    <TD>Pampa Energ&iacute;a II Wind Farm</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PEPE III</TD>
    <TD>Pampa Energ&iacute;a III Wind Farm</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PEPE IV</TD>
    <TD>Pampa Energ&iacute;a IV Wind Farm</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PEPE VI</TD>
    <TD>Pampa Energ&iacute;a VI Wind Farm</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PISA</TD>
    <TD>Pampa Inversiones S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>PIST</TD>
    <TD>Point of entry to the transport system</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"></P>


<!-- Field: Page; Sequence: 11 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B><U>GLOSSARY OF TERMS:</U></B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-decoration: underline; width: 20%">Terms</TD>
    <TD STYLE="text-decoration: underline; width: 80%">Definitions</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Refinor</TD>
    <TD>Refiner&iacute;a del Norte S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>RTI</TD>
    <TD>Tariff Structure Review</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>RTT</TD>
    <TD>Transitional Tariff Regime</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>SACDE</TD>
    <TD>Argentine Society of Construction and Strategic Development&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>SE</TD>
    <TD>Secretary of Energy</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>SEC</TD>
    <TD>Security and Exchange Commission</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>TG</TD>
    <TD>Gas Turbine</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>TGS</TD>
    <TD>Transportadora de Gas del Sur S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>The Company / Pampa</TD>
    <TD>Pampa Energ&iacute;a S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>The Group</TD>
    <TD>Pampa Energ&iacute;a S.A. and its subsidiaries</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>TJSM</TD>
    <TD>Termoel&eacute;ctrica Jos&eacute; de San Mart&iacute;n S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>TMB</TD>
    <TD>Termoel&eacute;ctrica Manuel Belgrano S.A.</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Transba</TD>
    <TD>Empresa de Transporte de Energ&iacute;a El&eacute;ctrica por Distribuci&oacute;n Troncal de la Provincia de Buenos Aires Transba S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Transener</TD>
    <TD>Compa&ntilde;&iacute;a de Transporte de Energ&iacute;a El&eacute;ctrica en Alta Tensi&oacute;n Transener S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>TV</TD>
    <TD>Vapor Turbine</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>US$</TD>
    <TD>U.S. dollar</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>VAR</TD>
    <TD>Vientos de Arauco Renovables S.A.U.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>VAT</TD>
    <TD>Value Added Tax</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>VRD</TD>
    <TD>Debt securities</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>VS SLU</TD>
    <TD>Vientos Solutions S.L.U.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>WACC</TD>
    <TD>Weighted Average Cost of Capital</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>WEM</TD>
    <TD>Wholesale Electrical Market</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>YPF</TD>
    <TD>YPF S.A.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>$</TD>
    <TD>Argentine Pesos</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 14.15pt 0 0; text-indent: 1in">&nbsp;</P>


<!-- Field: Page; Sequence: 12 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME</P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt"><B>For the years ended December
31, 2023, 2022 and 2021</B></P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine
Pesos (&#8220;$&#8221;))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white; width: 52%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 9%">Note</TD>
    <TD STYLE="background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 12%">12.31.2023</TD>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 12%">12.31.2022</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 12%">31.12.2021</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Revenue</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">8</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">513,727</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">242,182</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">144,641</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Cost of sales</TD>
    <TD STYLE="font-weight: bold; text-align: center">9</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(320,124)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(149,661)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(90,951)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">Gross profit</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">193,603</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">92,521</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">53,690</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Selling expenses</TD>
    <TD STYLE="font-weight: bold; text-align: center">10.1</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(19,338)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(8,448)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,547)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Administrative expenses</TD>
    <TD STYLE="font-weight: bold; text-align: center">10.2</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(62,721)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(19,373)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(9,777)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Exploration expenses</TD>
    <TD STYLE="font-weight: bold; text-align: center">10.3</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,859)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(50)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(61)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Other operating income</TD>
    <TD STYLE="font-weight: bold; text-align: center">10.4</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">57,141</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">19,066</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">10,196</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Other operating expenses</TD>
    <TD STYLE="font-weight: bold; text-align: center">10.4</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(29,374)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(5,952)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(5,360)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Impairment of property, plant and equipment, intangible assets and inventories</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(30,784)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(4,925)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(332)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Recovery of impairment (Impairment) of financial assets</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">283</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(477)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">50</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Share of profit from associates and joint ventures</TD>
    <TD STYLE="font-weight: bold; text-align: center">5.3.2</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">4,541</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">16,089</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">9,894</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Profit from sale/acquisition of companies&acute; interest&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">6,262</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,673</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">Operating income&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">117,754</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">88,451</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">56,426</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Financial income</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">10.5</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,764</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">768</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">847</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Financial costs</TD>
    <TD STYLE="font-weight: bold; text-align: center">10.5</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(105,359)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(30,488)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(17,512)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Other financial results</TD>
    <TD STYLE="font-weight: bold; text-align: center">10.5</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">155,089</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">25,558</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(1,545)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Financial results, net</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">51,494</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(4,162)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(18,210)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Profit before income tax</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">169,248</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">84,289</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">38,216</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Income tax</TD>
    <TD STYLE="font-weight: bold; text-align: center">10.6</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(132,557)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(19,389)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(7,301)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Profit of the year from continuing operations</TD>
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">36,691</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">64,900</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">30,915</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Loss of the year from discontinued operations</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">5.2.1</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(7,129)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Profit of the year</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 1pt solid; text-align: right; background-color: white">36,691</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">64,900</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">23,786</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Other comprehensive income (loss)&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: middle; text-align: left; background-color: white">Items that will not be reclassified to profit or loss</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Results related to defined benefit plans</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,800)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,598)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(259)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Income tax</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,330</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">559</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">91</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Exchange differences on translation</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,589,549</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">151,761</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">26,051</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: left; background-color: white">Items that may be reclassified to profit or loss</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Exchange differences on translation</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(78,425)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">7,132</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">9,318</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Other comprehensive income of the year from continuing operations</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">1,508,654</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">157,854</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">35,201</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Other comprehensive income of the year from discontinued operations</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">5.2.1</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">11,375</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Other comprehensive income of the year</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">1,508,654</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">157,854</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">46,576</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total comprehensive income of the year</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,545,345</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">222,754</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">70,362</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 9pt"></FONT></P>


<!-- Field: Page; Sequence: 13 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
</B>(Continuation)</P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt"><B>For the years ended December
31, 2023, 2022 and 2021</B></P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center">(In millions of Argentine Pesos (&#8220;$&#8221;))</P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 9%">Note</TD>
    <TD STYLE="background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 12%">12.31.2023</TD>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 12%">12.31.2022</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 12%">31.12.2021</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Total income (loss) of the year attributable to:</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Owners of the company</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">34,488</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">64,859</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">27,097</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Non-controlling interest</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">2,203</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">41</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,311)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">36,691</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">64,900</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">23,786</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Total income (loss) of the year attributable to owners of the Company:</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Continuing operations&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">34,488</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">64,859</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">30,823</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Discontinued operations&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,726)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">34,488</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">64,859</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">27,097</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Total comprehensive income of the year attributable to:</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Owners of the Company</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,539,114</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">222,181</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">66,456</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Non-controlling interest</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">6,231</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">573</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3,906</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,545,345</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">222,754</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">70,362</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Total comprehensive income of the year attributable to owners of the Company:</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Continuing operations&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,539,114</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">222,181</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">65,926</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Discontinued operations&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">530</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,539,114</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">222,181</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">66,456</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Earnings (Loss) per share attributable to equity holders of the Company</TD>
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Basic and diluted earnings per share from continuing operations</TD>
    <TD STYLE="font-weight: bold; text-align: center">13.2</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">25.25</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">46.97</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">21.94</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Basic and diluted loss per share from discontinued operations</TD>
    <TD STYLE="font-weight: bold; text-align: center">13.2</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2.65)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Total basic and diluted earning per share&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">13.2</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">25.25</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">46.97</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">19.29</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 9pt/115% Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-right: 0; margin-bottom: 10pt">The accompanying notes are an integral
part of these Consolidated Financial Statements.</P>


<!-- Field: Page; Sequence: 14 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">CONSOLIDATED STATEMENT OF FINANCIAL POSITION</P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>As of December 31, 2023 and 2022</B></P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center">(In millions of Argentine Pesos (&#8220;$&#8221;))</P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; width: 57%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 7%">Note</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 17%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 17%">12.31.2022</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">ASSETS</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">NON-CURRENT ASSETS</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Property, plant and equipment</TD>
    <TD STYLE="font-weight: bold; text-align: center">11.1</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">2,056,974</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">383,464</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Intangible assets</TD>
    <TD STYLE="font-weight: bold; text-align: center">11.2</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">77,898</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">24,364</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Right-of-use assets</TD>
    <TD STYLE="font-weight: bold; text-align: center">20.1.1</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">17,259</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,521</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Deferred tax asset</TD>
    <TD STYLE="font-weight: bold; text-align: center">11.3</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">6,326</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Investments in associates and joint ventures</TD>
    <TD STYLE="font-weight: bold; text-align: center">5.3.2</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">542,978</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">159,833</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Financial assets at amortized cost</TD>
    <TD STYLE="font-weight: bold; text-align: center">12.1</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">18,000</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Financial assets at fair value through profit and loss</TD>
    <TD STYLE="font-weight: bold; text-align: center">12.2</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">28,040</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">4,867</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Other assets</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">349</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">91</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Trade and other receivables</TD>
    <TD STYLE="font-weight: bold; text-align: center">12.3</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">14,524</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">3,415</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Total non-current assets</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">2,738,024</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">601,881</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">CURRENT ASSETS</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Inventories</TD>
    <TD STYLE="font-weight: bold; text-align: center">11.4</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">166,023</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">30,724</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Financial assets at amortized cost</TD>
    <TD STYLE="font-weight: bold; text-align: center">12.1</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">84,749</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,357</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Financial assets at fair value through profit and loss</TD>
    <TD STYLE="font-weight: bold; text-align: center">12.2</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">451,883</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">103,856</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Derivative financial instruments</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">250</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">161</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Trade and other receivables</TD>
    <TD STYLE="font-weight: bold; text-align: center">12.3</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">238,294</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">83,328</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Cash and cash equivalents</TD>
    <TD STYLE="font-weight: bold; text-align: center">12.4</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">137,973</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">18,757</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Total current assets</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">1,079,172</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">238,183</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Total assets</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">3,817,196</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">840,064</TD></TR>
  </TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 14.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 14.2pt">&nbsp;</P>




<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Page; Sequence: 15 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><BR STYLE="clear: both">
<B>CONSOLIDATED STATEMENT OF FINANCIAL POSITION </B>(Continuation)</P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>As of December 31, 2023 and 2022</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(In millions of Argentine Pesos (&#8220;$&#8221;))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; width: 57%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 7%">Note</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 17%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 17%">12.31.2022</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">SHAREHOLDERS&acute; EQUITY</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Share capital</TD>
    <TD STYLE="font-weight: bold; text-align: center">13.1</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,360</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,380</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Share capital adjustment</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">7,126</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">7,231</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Share premium</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">19,950</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">19,950</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Treasury shares</TD>
    <TD STYLE="font-weight: bold; text-align: center">13.1</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">4</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Treasury shares adjustment</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">21</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">21</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Treasury shares cost</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(211)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,280)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Legal reserve</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">37,057</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">8,137</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Voluntary reserve</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,157,389</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">171,243</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Other reserves</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">711</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(448)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Other comprehensive income</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">539,702</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">113,720</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Retained earnings&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">180,627</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">84,505</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Equity attributable to owners of the company</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">1,943,736</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right; background-color: white">403,463</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Non-controlling interest</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">6,960</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,157</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Total equity</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">1,950,696</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">404,620</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">LIABILITIES</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">NON-CURRENT LIABILITIES</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Provisions</TD>
    <TD STYLE="font-weight: bold; text-align: center">11.5</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">119,863</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">26,062</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Income tax and minimum notional income tax provision</TD>
    <TD STYLE="font-weight: bold; text-align: center">11.6</TD>
    <TD STYLE="color: white; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">44,614</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">31,728</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Deferred tax liability</TD>
    <TD STYLE="font-weight: bold; text-align: center">11.3</TD>
    <TD STYLE="color: white; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">240,686</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">19,854</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Defined benefit plans</TD>
    <TD STYLE="font-weight: bold; text-align: center">11.8</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">13,172</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">4,908</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Borrowings</TD>
    <TD STYLE="font-weight: bold; text-align: center">12.5</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">989,182</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">237,437</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Trade and other payables</TD>
    <TD STYLE="font-weight: bold; text-align: center">12.6</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">37,301</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">3,757</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Total non-current liabilities&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">1,444,818</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">323,746</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">CURRENT LIABILITIES</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Provisions</TD>
    <TD STYLE="font-weight: bold; text-align: center">11.5</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">4,649</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">779</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Income tax liability</TD>
    <TD STYLE="font-weight: bold; text-align: center">11.6</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">14,026</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">927</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Tax liabilities</TD>
    <TD STYLE="font-weight: bold; text-align: center">11.7</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">11,427</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">4,966</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Defined benefit plans</TD>
    <TD STYLE="font-weight: bold; text-align: center">11.8</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">2,695</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,021</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Salaries and social security payable&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">11.9</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">15,537</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">5,627</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Derivative financial instruments</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">191</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">318</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Borrowings</TD>
    <TD STYLE="font-weight: bold; text-align: center">12.5</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">181,357</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">48,329</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Trade and other payables</TD>
    <TD STYLE="font-weight: bold; text-align: center">12.6</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">191,800</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">49,731</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Total current liabilities&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">421,682</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">111,698</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Total liabilities&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">1,866,500</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">435,444</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Total liabilities and equity</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">3,817,196</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">840,064</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 9pt"></FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt/14pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-right: 0; margin-bottom: 0">The accompanying notes are an integral part of
these Consolidated Financial Statements.</P>

<P STYLE="font: 9pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>


<!-- Field: Page; Sequence: 16 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">CONSOLIDATED STATEMENT OF CHANGES IN EQUITY</P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt"><B>For the years ended December
31, 2023, 2022 and 2021</B></P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine
Pesos (&#8220;$&#8221;))</P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="23" STYLE="border-bottom: Black 0.5pt solid; text-align: center">Attributable to owners</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Equity holders of the company</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center">Retained earnings</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; border-top-color: Black; border-top-width: 0.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: middle; width: 16%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Share capital</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Share capital adjustment</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Share premium</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 5%">Treasury shares</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Treasury shares adjustment</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 5%">Treasury shares cost</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Legal reserve</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Voluntary reserve</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Other reserves</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Other comprehensive income</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Retained earnings (Accumulated losses)&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Subtotal</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Non-controlling interest</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Total equity</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap; font-weight: bold">Balance as of December 31, 2020</TD>
    <TD STYLE="text-align: right">1,451</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">7,605</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">19,950</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">4</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">24</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">(235)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">3,703</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">60,899</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">(759)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">29,430</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">(1,825)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">120,247</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">28,631</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">148,878</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Legal and voluntary reserve constitution</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,500</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,325)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,825</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Capital reduction</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(69)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(363)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3,478</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,046)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Treasury shares acquisition</TD>
    <TD STYLE="text-align: right">(69)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(362)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">69</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">362</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,506)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(3,506)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,506)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Stock compensation plans</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">25</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">209</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">234</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">234</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Sale of subsidiary&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(31,928)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(31,928)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Profit (Loss) of the year</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">27,097</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">27,097</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,311)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">23,786</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Other comprehensive income of the year</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">22,002</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">17,357</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">39,359</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">7,217</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">46,576</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap; font-weight: bold">Balance as of December 31, 2021</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,382</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">7,245</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">19,950</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">4</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">21</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(238)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">5,203</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">54,528</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(550)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">51,432</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">44,454</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">183,431</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">609</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">184,040</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Legal and voluntary reserve constitution</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(485)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">44,939</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(44,454)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Capital reduction</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(14)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">209</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(193)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Treasury shares acquisition</TD>
    <TD STYLE="text-align: right">(2)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(14)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">14</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,251)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(2,251)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,251)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Dividens ditribution</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(25)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(25)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Stock compensation plans</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">102</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">102</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">102</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Profit of the year</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">64,859</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">64,859</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">41</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">64,900</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Other comprehensive income of the year</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3,419</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">71,969</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">62,288</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">19,646</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">157,322</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">532</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">157,854</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap; font-weight: bold">Balance as of December 31, 2022</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,380</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">7,231</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">19,950</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">4</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">21</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(2,280)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">8,137</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">171,243</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(448)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">113,720</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">84,505</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">403,463</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,157</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">404,620</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 9pt"></FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 17 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONSOLIDATED STATEMENT OF CHANGES IN EQUITY </B>(Continuation)</P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt"><B>For the years ended December
31, 2023, 2022 and 2021</B></P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine
Pesos (&#8220;$&#8221;))</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="white-space: nowrap; font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="23" STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center">Attributable to owners</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: middle">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Equity holders of the company</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center">Retained earnings</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; border-top-color: Black; border-top-width: 0.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: middle; text-align: left; background-color: white; width: 16%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Share capital</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Share capital adjustment</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Share premium</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 5%">Treasury shares</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Treasury shares adjustment</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 5%">Treasury shares cost</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Legal reserve</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Voluntary reserve</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Other reserves</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Other comprehensive income</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Retained earnings</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Subtotal</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Non-controlling interest</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Total equity</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap; font-weight: bold">Balance as of December 31, 2022</TD>
    <TD STYLE="text-align: right">1,380</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">7,231</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">19,950</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">4</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">21</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,280)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">8,137</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">171,243</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(448)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">113,720</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">84,505</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">403,463</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,157</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">404,620</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Legal and voluntary reserve constitution</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(16)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">84,521</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(84,505)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Capital reduction</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(20)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(105)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2,069</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,944)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Treasury shares acquisition</TD>
    <TD STYLE="text-align: right">(20)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(105)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">20</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">105</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Stock compensation plans</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,159</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,159</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,159</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Dividens ditribution</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(428)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(428)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Profit for the year</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">34,488</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">34,488</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2,203</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">36,691</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap">Other comprehensive income for the year</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">28,936</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">903,569</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">425,982</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">146,139</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,504,626</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">4,028</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,508,654</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap; font-weight: bold">Balance as of December 31, 2023</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,360</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">7,126</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">19,950</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">4</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">21</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(211)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">37,057</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,157,389</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">711</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">539,702</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">180,627</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,943,736</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">6,960</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,950,696</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 9pt"></FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin: 0">The accompanying notes are an integral part of these Consolidated Financial
Statements.</P>

<P STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin: 0; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin: 0; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin: 0; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin: 0; text-indent: 7.1pt">&nbsp;</P>


<!-- Field: Page; Sequence: 18 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">CONSOLIDATED STATEMENT OF CASH FLOWS</P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt"><B>For the years ended December
31, 2023, 2022 and 2021</B></P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine
Pesos (&#8220;$&#8221;))</P>

<P STYLE="font: 11pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify; background-color: white; width: 47%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 13%">Note</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 12%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 12%">12.31.2022</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 12%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Cash flows from operating activities:</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Profit of the year from continuing operations</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">36,691</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">64,900</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">30,915</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Adjustments to reconcile net profit to cash flows from operating activities</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">14.1</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">203,877</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">36,879</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">34,118</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Changes in operating assets and liabilities</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">14.2</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(63,469)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(20,582)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(4,055)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Net cash generated by operating activities from discontinued operations</TD>
    <TD STYLE="font-weight: bold; text-align: center">5.2.1</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">11,051</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Net cash generated by operating activities</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right; background-color: white">177,099</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right; background-color: white">81,197</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right; background-color: white">72,029</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Cash flows from investing activities:</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Payment for property, plant and equipment acquisitions</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(194,270)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(51,919)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(19,509)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Payment for intangible assets acquisitions</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3,616)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(359)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Collections for sales (Payment for) public securities and shares acquisitions, net</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">84,011</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(11,243)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(23,079)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Recovery of mutual funds, net</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7,925</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,120</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,789</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Payment for the acquisition of companies</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(481)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(19,238)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,597)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Collection for equity interests in companies sales</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">26,704</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,977</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,886</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Collections for property, plant and equipment sales</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">146</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">72</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">67</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Collections for intangible assets sales</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,626</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,380</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">516</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Dividends received</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">75</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,240</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,774</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">(Payment) Collection of loans</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,562)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,172</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,576</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Subsidiaries&acute; cash incorporation</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">472</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Net cash used in investing activities from discontinued operations</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">5.2.1</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(15,857)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Net cash used in investing activities</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right; background-color: white">(75,354)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right; background-color: white">(75,055)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right; background-color: white">(45,793)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Cash flows from financing activities:</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Proceeds from borrowings</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">12.5</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">104,018</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">42,148</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">18,929</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Payment of&nbsp;&nbsp;borrowings</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">12.5</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(67,911)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(19,266)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(32,749)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Payment of&nbsp;&nbsp;borrowings interests</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">12.5</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(87,078)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(21,633)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(13,002)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Payment for treasury shares acquisition</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2,251)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3,506)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Repurchase of corporate bonds</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">12.5</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,335)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3,621)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(313)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Payments of leases</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(311)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(411)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(462)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Payments of dividends</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(476)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(30)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Net cash used in financing activities from discontinued operations</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">5.2.1</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(701)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Net cash used in financing activities</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right">(53,093)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right">(5,064)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right">(31,804)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Increase (Decrease) in cash and cash equivalents</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; background-color: white">48,652</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; background-color: white">1,078</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; background-color: white">(5,568)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Cash and cash equivalents at the beginning of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">12.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">18,757</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">11,283</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">11,900</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Cash and cash equivalents at the beginning of the year reclasified to assets classified as held for sale</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,362</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Exchange and conversion difference generated by cash and cash equivalents</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">70,564</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6,396</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">589</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Increase (Decrease) in cash and cash equivalents</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">48,652</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,078</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(5,568)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Cash and cash equivalents at the end of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">12.4</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">137,973</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">18,757</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">11,283</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">The accompanying notes are an integral part of these Consolidated Financial
Statements.</P>


<!-- Field: Page; Sequence: 19 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and
2021</P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine
Pesos (&ldquo;$&rdquo;))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 1</U>: GENERAL INFORMATION<P STYLE="font: bold 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0 14.2pt; text-align: justify; text-indent: -14.2pt">1.1
General information of the Company<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company is a fully integrated power
company in Argentina, which participates in the electric energy, oil and gas value chains.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the generation segment, the Company,
directly and through its subsidiaries and joint ventures, has a 5,332 MW installed capacity as of December 31, 2023, which represents
approximately 12% of Argentina&#8217;s installed capacity, and being one of the four largest independent generators in the country. Additionally,
the Company is currently undergoing a process to expand its installed capacity by an additional 140 MW.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the oil and gas segment, the Company
develops an important activity in gas and oil exploration and production, with operations in 12 production areas and 5 exploratory areas
reaching a production level of 10.3 million m3/day of natural gas and 4.8 thousand boe/day of oil in Argentina, as of December 31, 2023.
Its main natural gas production blocks are located in the Provinces of Neuqu&eacute;n and R&iacute;o Negro.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the petrochemicals segment, operations
are located in Argentina, where the Company operates 2 high-complexity plants producing styrene, synthetic rubber and polystyrene, with
a domestic market share ranging between 91% and 100%.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, through the holding and others
segment, the Company participates in the electricity transmission and oil and gas transportation businesses. In the transmission business,
the Company jointly controls Citelec, which has a controlling interest in Transener, a company engaged in the operation and maintenance
of a 22,391 km high-voltage electricity transmission network in Argentina with an 86% share in the Argentine electricity transmission
market. In the gas transportation business, the Company jointly controls CIESA, which has a controlling interest in TGS, a company holding
a concession for the transportation of natural gas with 9,248 km of gas pipelines in the center, west and south of Argentina, and which
is also engaged in the processing and sale of natural gas liquids through the Cerri Complex, located in Bah&iacute;a Blanca, in the Province
of Buenos Aires, in addition to shale gas transportation and conditioning at Vaca Muerta. Besides, the Company owns a 34.08% indirect
interest in OCP (see Note 5.3.4), licensee company of an oil pipeline in Ecuador that has a transportation capacity of 450 thousand barrels/day.
Additionally, the segment includes advisory services provided to related companies.</P>


<!-- Field: Page; Sequence: 20; Options: NewSection; Value: 12 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 1</U>: </B>(Continuation)<P STYLE="font: bold 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">1.2
Economic context<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company operates in an economic context
which main variables are experiencing volatility as a result of political and economic events both in the domestic and international spheres.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">At the local level, the Argentine economy
was affected during the first half of 2023, and for the third consecutive year, by the <I>La Ni&ntilde;a</I> weather phenomenon, which
extended the drought period, affecting agricultural production and generating a significant adverse impact on exports and fiscal revenues.
As a result, at the end of August 2023, the International Monetary Fund granted the relaxation of certain fiscal and monetary targets
for the country and access to approximately US$7,500 million, together with a commitment to implement a new policy package.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, on December 10, 2023, a new government
took office in Argentina that proposes to move forward with the deregulation of the economy and a series of structural reforms aimed at
freeing up restrictions to invest and operate in the country. Among its first measures, on December 21, 2023, PEN Executive Order No.
70/23, &#8220;Bases for reconstructing the Argentine economy&#8221;, was issued, whereby it declared a public emergency in economic, financial,
fiscal, administrative, social security, tariff, health and social matters until December 31, 2025, and set the basis for economic deregulation
and State reform, and provided for extensive modifications to different legal systems. The PEN Executive Order seeks to amend 300 laws,
including reforms to the labor market, the customs code and the status of public companies, among others. Although the PEN Executive Order
must be discussed and ratified by at least one of the Chambers of the National Congress, its provisions are partially effective as from
December 29, 2023, considering a series of judicial actions that have granted the suspension of certain modifications.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Regarding the energy industry, in August
2023, transportation operations of the new Tratay&eacute;n - Salliquel&oacute; section of the Presidente N&eacute;stor Kirchner gas pipeline
began, with the expectation of generating fiscal and productive benefits, better employment, production and energy supply indicators in
the country, and other benefits such as an increase in royalties for the producing provinces and foreign currency savings resulting from
a decrease in imports. The above is complemented by the Reversion of the Northern Gas Pipeline, which is expected to transport gas from
Vaca Muerta to seven provinces in northern Argentina that are currently supplied with imports from Bolivia. Additionally, in a second
instance, these works would allow moving forward with exports to the north of Chile and Brazil.</P>


<!-- Field: Page; Sequence: 21 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 1</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Besides, on December 18, 2023, PEN Executive
Order No. 55/23 was issued declaring the emergency in the national energy sector comprising electricity generation, transmission and distribution
and natural gas transportation and distribution, effective until December 31, 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In general terms, the severe drought has
deteriorated economic conditions and deepened pre-existing macroeconomic imbalances. The Argentine economy recorded a 1.6% accumulated
decrease in the Gross Domestic Product as of the third quarter of 2023, a 211.4% cumulative inflation considering the CPI and a 356.3%
depreciation of the peso against the U.S.&nbsp;dollar, according to the BNA exchange rate, for fiscal year 2023. In turn, a 6.4% cumulative
growth of the Gross Domestic Product as of the third quarter of 2022, a 94.8% increase in the CPI and a 72.5% depreciation of the peso
against the U.S.&nbsp;dollar were recorded for fiscal year 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The context of volatility and uncertainty
continues as of the date of issuance of these Consolidated Financial Statements. The reforms proposed by the new government have begun
their legislative discussion process. It is not possible to currently foresee their evolution or any new measures that may be announced.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s Management permanently
monitors the evolution of the variables affecting its business to define its course of action and identify potential impacts on its assets
and financial position.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s financial statements
should be read in the light of these circumstances.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 2</U>: REGULATORY FRAMEWORK</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">2.1
Generation</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.1.1 <U>Generation units</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s revenues related to
this segment come from: i) sales contracts with large users within the MAT (SE Resolutions No. 1,281/06 and No. 281/17); ii) supply agreements
with CAMMESA (SE Resolutions No. 220/07, No. 21/16, No. 287/17 and Renovar Programs) and iii) sales to the Spot market pursuant to the
provisions applicable within the WEM administered by CAMMESA (SE Resolution No. 440/21 as from February 2021, SE Resolution No. 238/22
as from February 2022, SE Resolution No. 826/22 as from September 2022, SE Resolution No. 750/23 as from September 2023 and SE Resolution
No. 869/23 as from September 2023). The Company&#8217;s generating units, held directly and through its subsidiaries and joint ventures,
are detailed below:</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 22 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD COLSPAN="5" STYLE="font-weight: bold; text-align: left">In operation as of 12.31.2023:</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-size: 11pt; font-weight: bold; width: 15%; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 22%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 10%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 23%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 30%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border: Black 0.5pt solid; text-align: center">Generator</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt">Generating unit</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt">Tecnology</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt">Power</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt">Applicable regime <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white">CTG</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">GUEMTG01</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TG</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">&nbsp;100 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Energy Plus Res. No. 1,281/06</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTG</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">GUEMTV11</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">TV</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">&le;100 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTG</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">GUEMTV12</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TV</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">&le;100 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTG</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">GUEMTV13</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TV</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">&gt;100 MW&nbsp;</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">Piquirenda</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">PIQIDI 01-10</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">MCI</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">30 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CPB</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">BBLATV29</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TV</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">&gt;100 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CPB</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">BBLATV30</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TV</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">&gt;100 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTIW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">BBLMD01-06</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">MCI</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">100 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No. 21/16&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTLL</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">LDLATG01/TG02/TG03/TV01</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">CC</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">&gt;150 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No. 59/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTLL</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">LDLATG04</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TG</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">&nbsp;105 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No 220/07 (75%)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTLL</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">LDLATG05</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TG</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">&nbsp;105 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No. 21/16</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTLL</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">LDLMDI01</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">MCI</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">15 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTGEBA</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">GEBATG01/TG02/TV01</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">CC</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">&gt;150 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No. 59/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTGEBA</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">GEBATG03</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TG</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">169 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Energy Plus Res. No. 1,281/06</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTGEBA</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">GEBATG03/TG04/TV02</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">CC</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">400 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No. 287/17</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">Ecoenerg&iacute;a</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">CERITV01</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TV</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">14 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Energy Plus Res. N&deg; 1,281/06</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTPP</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">PILBD01-06</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">MCI</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">100 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No. 21/16&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTEB</TD>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">EBARTG01 - TG02</TD>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TG</TD>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">&gt;50 MW</TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution N&deg; 59/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">CTEB</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">EBARTV01</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">TV</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">279 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Resolution No. 220/07</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">HIDISA</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">AGUA DEL TORO</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">HI</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">HI &ndash; Media&nbsp; 120&lt;P&le;300</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">HIDISA</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">EL TIGRE</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">HR</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Renewable&nbsp;&nbsp;&le; 50</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">HIDISA</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">LOS REYUNOS</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">HB</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">HB &ndash; Media &nbsp;120&lt;P&le;300</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">HINISA</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">NIHUIL I - II - III</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">HI</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">HI &ndash; Small &nbsp;50&lt;P&le;120</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">HPPL</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">PPLEHI</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">HI</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">HI &ndash; Media &nbsp;120&lt;P&le;300</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Resolution No. 869/23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">PEPE II</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">PAMEEO</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Wind</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">53 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">MATER Res. No. 281/17</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">PEPE III</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">BAHIEO</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Wind</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">53 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">MATER Res. No. 281/17</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">PEPE IV</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Ampliaci&oacute;n BAHIEO</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Wind</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">81 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">MATER Res. No. 281/17</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">PE Arauco</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">AR21EO</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Wind</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">99,75 MW</TD>
    <TD STYLE="border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">Renovar</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD COLSPAN="5" STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP> Surplus power capacity and energy are remunerated in the spot market.&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="font-weight: bold; vertical-align: middle; text-align: left">In construction:</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border: Black 0.5pt solid; text-align: center">Generator</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt">Tecnology</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt">Capacity</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-left-color: Black; border-left-width: 0.5pt">Applicable regime</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; border-left: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">PEPE VI</TD>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt; background-color: white">Wind</TD>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">140 MW</TD>
    <TD STYLE="vertical-align: middle; border-right: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-left-color: Black; border-top-width: 0.5pt; border-left-width: 0.5pt">MATER Res. No. 281/17</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>


<!-- Field: Page; Sequence: 23 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.1.2 <U>Sales contracts with large users
within the MAT</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.2.1 Energy Plus</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Aiming to encourage new generation works,
in 2006, the SE approved Resolution No. 1,281/06 in which established a specific regime which remunerates newly installed generation sold
to a certain category of GU at higher prices.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Energy Plus service consists of the
offer of additional generation availability by generators, co-generators and self-generators which, as of the date of publication of SE
Resolution No. 1,281/06, were not WEM agents or did not have facilities or an interconnection with the WEM. Considering that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">These plants should have fuel supply and transportation facilities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">The energy used by GU300 in excess of the base demand (energy consumption for 2005 year) qualifies for
Energy Plus agreements within the MAT at a price negotiated between the parties; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">For new GU300 entering the system, their base demand will equal zero.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If a generator cannot meet the power demand
by an Energy Plus customer, it should purchase that power in the market at the operated marginal cost, or, alternatively, support the
committed demand in case of unavailability through agreements with other Energ&iacute;a Plus generators.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Currently, the Company has Power Availability
agreements in force with other generators whereby, in case of unavailability, it may purchase or sell power to support the contracts mutually.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Furthermore, the SE, through Note No.
567/07, as amended, established that GU300 not purchasing their surplus demand in the MAT should pay the Average Incremental Charge of
Surplus Demand (&#8220;CMIDE&#8221;). As from the month of June 2018, pursuant to SE Note No.&nbsp;28663845/18, the CMIDE became the greater
of $1,200/MWh or the temporary dispatch surcharge.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under this regime, the Company &#8212;through
its power plants CTG, EcoEnerg&iacute;a and CTGEBA&#8212; sells its energy and power capacity for a maximum amount of 283 MW. The values
of Energy Plus contracts are mostly denominated in U.S. dollars, or are adjusted by CAMMESA&#8217;s price variation instead.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 24 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.2.2 Renewable Energy Term Market
(&#8220;MATER&#8221; Regime)</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Pursuant to Resolution No. 281/17, the
MEyM regulated the MATER Regime with the purpose of setting the conditions for large users within the WEM and WEM distributing agents&#8217;
large users covered by Section 9 of Law No. 27,191 to meet their demand supply obligation from renewable sources (or self-generation from
renewable sources) through the individual purchase within the MATER.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Projects destined to the supply of electric
power from renewable sources under the MATER Regime may not be covered by other remuneration mechanisms, such as the agreements under
the Renovar rounds. Surplus energy is sold in the spot market.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, contracts executed under the
MATER Regime are administered and managed in accordance with the WEM procedures. The contractual terms &#8212;life, allocation priorities,
prices and other conditions, notwithstanding the maximum price set forth in Section 9 of Law No. 27,191&#8212; are freely agreed between
the parties, although the committed electricity volumes are limited by the electric power from renewable sources produced by the generator
or supplied by other generators or suppliers with which it has purchase agreements in place.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Resolution No. 370/22 was passed on May
16, 2022, which expanded the MATER system allowing for the sale of renewable energy to meet the GU&#8217;s demand that purchase energy
to distribution utility companies.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under this resolution, the Company, through
its PEPE II, III and IV wind farms, sells energy for up to 187 MW. Additionally, the Company has started selling third-party generators&#8217;
renewable energy for a volume of 1.14 MW.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>2.1.2.3 MATER dispatch priority</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">SE Resolution No. 551/21 published on
June 16, 2021 modified the dispatch priority maintenance system established by Resolution No. 281/17. Overall, it replaces the granting
of a security for the maintenance of the dispatch priority by the payment of a quarterly installment of US$&nbsp;500/MW until commissioning
within the declared term or a maximum term of 24 months as from the priority assignment. It also established certain conditions for obtaining
an extension in the committed commissioning date, which, according to the project development level and the requested extension term,
requires a payment of monthly installments ranging between 500 and 1,500 US$/MW.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, it allows projects with
an assigned dispatch priority but not yet commissioned to continue their execution keeping the dispatch priority, or to waive such priority,
thus releasing the transmission capacity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 25 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company, as owner of the Wind Farm
project, located in Las Armas, Province of Buenos Aires, notified its decision to waive the timely granted dispatch priority, and recovered
the security it had provided. As a result, CAMMESA notified that the already initiated execution of the security was determined to be
moot as it had no further claim against the Company; therefore, as of September 30, 2021, the amount of US$ 12.5 million recorded for
to such effect was recovered and disclosed under the item &#8220;Other operating income&#8221; of the Consolidated Statement of Comprehensive
Income.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">SE Resolution No. 360/23 introduced several
changes to the effective priority dispatch system. These modifications include the granting of a dispatch priority to renewable generation
projects to be sold in the MATER that finance the corresponding transmission expansions and/or renewable energy generation projects with
an associated demand larger than 10 MW.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Besides, it established a new referential
dispatch priority system in corridors without full availability at every hour of the year. In this way, the dispatch priority will have
an injection probability of 92% of the typical annual&nbsp;energy.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Moreover, it establishes that partially
commissioned projects regarding the committed capacity will pay the dispatch priority charge exclusively for the difference between the
assigned power capacity and that commissioned, provided the accumulated commissioned capacity is at least 50% of that assigned.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, projects with commissioned power
capacity lower than assigned power capacity will lose dispatch priority for uncommissioned power capacity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Within the framework of this resolution,
for the third quarter of 2023, the Company was awarded a 139,50 MW referential dispatch priority for the PEPE VI (Stages 1 and 2).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.1.3 <U>Supply Agreements with CAMMESA</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.3.1 SE Resolution No. 220/07 </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Aiming to encourage new investments to
increase the generation offer, the SE passed Resolution No. 220/07, which empowers CAMMESA to enter into agreements with WEM generating
agents for the energy produced with new equipment. These will be long-term agreements and the price payable by CAMMESA should compensate
for the investments made by the agent at a rate of return to be accepted by the SE.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Within the framework of this resolution,
the Company has units remunerated under agreements for 79 MW and 280 MW, through CTLL thermal power plant and CTEB&acute;s closed cycle,
owned by CTB, respectively.</P>


<!-- Field: Page; Sequence: 26 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.3.2 SE Resolution No. 21/16</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As a result of the state of emergency
in the national electricity sector, on March 22, 2016, the SE issued Resolution No. 21/16 calling for parties interested in offering new
thermal power generation capacity with the commitment to making it available through the WEM for the 2016/2017 summer, 2017 winter, and
2017/2018 summer periods.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For the awarded projects, wholesale power
purchase agreements were entered into with CAMMESA for a term of 10 years, with a remuneration made up of the available power capacity
price plus the variable non-fuel cost for the delivered energy and the fuel cost (if appropriate), less penalties and fuel surpluses.
Surplus power capacity is sold in the spot market.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Pursuant to this resolution, the Company,
through its CTLL, CTIW and CTPP power plants, has effective agreements with CAMMESA for the sale of energy and power capacity for a total
305&nbsp;MW.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.3.3 SE Resolution No. 287/17 </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 10, 2017 the SE issued Resolution
No. 287/17 launching a call for tenders for co-generation projects and the closing to CC over existing equipment. The projects should
have low specific consumption (lower than 1,680 kcal/kWh with natural gas and 1,820 kcal/kWh with alternative liquid fuels), and the new
capacity should not exceed the existing electric power transmission capacity; otherwise, the cost of the necessary extensions will be
borne by the bidder.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Pursuant to this regulation, the Company,
through its CTGEBA thermal power plant, has entered into a wholesale power purchase agreement with CAMMESA for the sale of energy and
power capacity for a total 400 MW, for a term of 15 years.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.3.4 Renovar Programs</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In order to meet the objectives, set by
Law No. 26,190 and Law No. 27,191 promoting the use of renewable sources of energy, the MEyM called for open rounds for the hiring of
electric power from renewable sources (Renovar Programs, Rounds 1, 1.5 and 2) within the WEM. These calls aimed to assign power capacity
contracts from different technologies (wind energy, solar energy, biomass, biogas and small hydraulic developments with a power capacity
of up to 50 MW).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For the awarded projects, renewable electric
power supply agreements were executed for the sale of an annual committed electric power block for a term of 20 years.</P>


<!-- Field: Page; Sequence: 27 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, several measures were established
to promote the construction of projects for the generation of energy from renewable sources, including tax benefits (advance VAT reimbursement,
equipment&#8217;s accelerated depreciation in the income tax, import duty exemptions, etc.) and the creation of a Fund for the Development
of Renewable Energies (&#8220;FODER&#8221;) destined, among other objectives, to the granting of loans and capital contributions for the
financing of such projects.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under the Renovar programs, the Company,
has a supply contract in place with CAMMESA for a total of 99.75 MW for the PE Arauco.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>2.1.3.5 Penalty system under MATER and Renovar
contracts</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On March 20, 2023, SE Resolution No. 165/23
was passed, which modified the penalty system applicable to MATER and Renovar projects, including projects awarded under the Renovar MiniRen
Program, Round 3. Penalties for breaches in the committed supply of energy were incorporated into the system, to be discounted in 12 monthly
and consecutive installments as from commercial commissioning, keeping the generator&#8217;s option to cancel the penalties in 48 monthly
and consecutive installments with the application of a 1.7% EAR in U.S. dollars. To avoid affecting the projects&#8217; minimum maintenance,
a 20% discount cap for the monthly transaction was established for those generators opting into the 48-installment scheme. The balance
following the application of this cap will be discounted in the first transaction in which the penalty is below the stated cap; if the
number of installments is exceeded, the scheme will be maintained until the penalties&#8217; full cancellation and, in case the contract
term is exceeded, the payment scheme may be restructured, or the discount cap may be increased to 40% of the transaction.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Besides, SE Resolution No. 883/23 approved
a penalty offsetting mechanism for supply agreements under the Renovar programs allowing to offset penalties with investments in new renewable
power generation capacity. This possibility is contemplated for delay, deficiency and national component penalties.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.3.6 TerCONF Call </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On July 27, 2023, SE Resolution No. 621/23
launched the &quot;TerCONF&quot; call for the execution of reliable thermal generation supply agreements with CAMMESA allowing to incorporate
new thermal supply and ensure the WEM's reliability and sustainability through: (i) supply to the SADI, and (ii) the substitution and
modernization of Tierra del Fuego's power generation grid.</P>


<!-- Field: Page; Sequence: 28 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Regarding thermal generation for SADI's reliability
and supply:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(i)</TD><TD STYLE="text-align: justify">The call will consider any generation or co-generation technology, including associated transmission and/or
fuels infrastructure works, to add reliable power capacity by installing new equipment or equipment with less than 15,000 hours of verified
use;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(ii)</TD><TD STYLE="text-align: justify">Agreements will not provide for fuel management responsibility, and a variable operation and maintenance
remuneration is established based on the energy per fuel type;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(iii)</TD><TD STYLE="text-align: justify">The agreement's price will contemplate the payment of the hired power capacity in US$/MW-month and the
payment of the supplied energy;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(iv)</TD><TD STYLE="text-align: justify">Projects should identify the point of delivery and the technical connection agreement with the transmission&nbsp;company;
and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(v)</TD><TD STYLE="text-align: justify">A supply maintenance guarantee and a payment scheme from the project's award to the contract execution
date are established as a type of performance bond.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On September 26, 2023, 66 projects were
submitted for a total of 7,112 MW power capacity. Pampa submitted a tender for the execution of CTGEBA II, with a 300 MW power capacity.
It also tendered, through CTB, an 11 MW CC expansion. On November 24, 2023, pursuant to SE Resolution No. 961/23, both tenders were awarded,
and the initial payments were executed according to the provisions of the call for tenders&#8217; payment scheme. However, on December
28, 2023, the SE, through Note NO-2023-153876959-APN-SE#MEC, instructed CAMMESA to provisionally suspend the issuance of the commercial
documentation corresponding to the payment of the tender guarantee and the monthly payment scheme. According to such note, SE is evaluating
the exercise of the extension powers set forth in the bidding documents.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.1.4 <U>Remuneration at the Spot market</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 19, 2021, SE Resolution No. 440/21
provided for a 29% increase in the values in pesos of the remuneration items based on technology and scale and the additional remuneration
for the power capacity generated in the hours of maximum thermal demand of the month established in SE Resolution No. 31/20.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 29 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In November 2021, SE Resolution No. 1,037/21,
instrumented through Note NO-2021-108163338-APN-SE#ME, provided for an additional transitional remuneration for generated energy and suspended
the application of the utilization factor for economic transactions comprised between September 1, 2021 and February 28, 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On April 21, 2022, SE Resolution No. 238/22
was published in the BO. This resolution provided a 30% increase in spot generation remuneration values from the February 2022 economic
transaction, and an additional 10% increase from the June 2022 economic transaction. It also abrogated the application of the utilization
factor and the additional transitional remuneration set by SE Resolution No. 1,037/21.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 14, 2022, through SE Resolution
No. 826/22, the spot remuneration values were modified considering the following increases: i) 20% from the September 2022 economic transaction;
ii) 10% from the December 2022 economic transaction; iii) 25% from the February 2023 economic transaction; and iv) 28% from the August
2023 economic transaction.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, SE Resolution No. 826/22
replaced the remuneration scheme at hours of maximum thermal demand with a differentiated remuneration scheme at peak hours from the November
2022 economic transaction.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Subsequently, through SE Resolution No.
750/23 and SE Resolution No. 869/23, the remuneration values for spot generation were updated, providing for a 23% and 28% increase as
from the September 2023 and November 2023 economic transactions, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The applicable remunerations based on
technology and resolution are detailed below. The amounts reported correspond to the resolutions applicable as of December 31, 2021, 2022
and 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>2.1.4.1 Remuneration for Available Power Capacity </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.1.4.1.1 Thermal Power Generators</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">A minimum remuneration for power capacity
based on technology and scale was established, and generating, co-generating and self-generating agents owning conventional thermal power
plants were allowed to offer guaranteed availability commitments for the energy and power capacity generated by their units and not committed
under sales contracts with large users within the MAT and supply agreements with CAMMESA.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Availability commitments are tendered
for quarterly periods: a) summer (December through February); b) winter (June through August) and c) &#8216;other,&#8217; which comprises
two quarters (March through May, and September through November), the thermal generators&#8217; remuneration for committed power capacity
being proportional to their compliance.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 30 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2:</U></B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The minimum remuneration for generators
with no availability commitments includes the following scales and prices:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 34%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Technology / Scale</TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 440/21</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-month)</P></TD>
    <TD STYLE="vertical-align: top; width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 826/22</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-month)</P></TD>
    <TD STYLE="vertical-align: top; width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 869/23</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-month)</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Large CC Capacity &gt; 150 MW</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">129,839</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">245,084</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">617,377</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Large TV Capacity &gt; 100 MW</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">185,180</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">349,546</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">880,520</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Small TV Capacity <FONT STYLE="font-family: SimSun">&#8804;</FONT> 100 MW</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">221,364</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">417,847</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">1,052,573</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Large GT Capacity &gt; 50 MW</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">151,124</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">285,262</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">718,586</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The remuneration for guaranteed power
capacity to generators with availability commitments is:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 34%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Period</TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 440/21</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-month)</P></TD>
    <TD STYLE="vertical-align: top; width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 826/22</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-month)</P></TD>
    <TD STYLE="vertical-align: top; width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 869/23</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-month)</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Summer &#8211; Winter</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">464,400</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">876,601</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">2,208,195</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Fall - Spring</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">348,300</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">657,451</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">1,656,146</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the case of thermal power plants with
a power capacity equal to or lower than 42 MW in total, a differential remuneration was applied until its elimination on August 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the same way, a coefficient derived
from the average utilization factor over the unit&#8217;s last twelve months was applied to the power capacity remuneration: with a minimum
70% of the utilization factor, 100% of the power capacity payment was collected; if the utilization is between 30% and 70%, the power
capacity payment ranged from 70% to 100%; and if the utilization factor was lower than 30%, 70% and 60% of the power capacity payment
was collected until January 2020 and August 2021. Subsequently, the application of this factor was suspended in 2021 and finally abrogated
from February 2022.</P>


<!-- Field: Page; Sequence: 31 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.1.4.1.2 Hydroelectric Generators</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Power capacity availability is determined
independently of the reservoir level, the contributions made, or the expenses incurred. Furthermore, in the case of pumping hydroelectric
power plants, the operation as turbine and pump is considered to calculate availability.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The base remuneration includes the following
scales and prices:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 43%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Technology / Scale</TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 440/21</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-month)</P></TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 826/22</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-month)</P></TD>
    <TD STYLE="vertical-align: top; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 869/23</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-mes)</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Medium HI Capacity &gt; 120 &#8804; 300 MW</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">170,280</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">321,421</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">809,672</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Small HI Capacity &gt; 50 &#8804; 120 MW</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">234,135</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">441,953</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">1,113,298</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">Medium Pumped HI Capacity &gt; 120 &#8804; 300 MW</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">170,280</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">321,421</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">809,672</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt">Renewable HI Capacity &#8804; 50 MW</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">383,130</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">723,196</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">1,821,760</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The payment for power capacity is determined
by the actual capacity, hours of unavailability due to programmed and/or agreed maintenance are not computed for the calculation of the
remuneration. However, to consider the incidence of programmed maintenance works in power plants, SME Note No. 46631495/19 provided for
the application of a 1.05 factor over the power capacity payment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the case of hydroelectric power plants
maintaining control structures on river courses and not having an associated power plant, a 1.20 factor is applied to the plant at the
headwaters.</P>


<!-- Field: Page; Sequence: 32 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I>2.1.4.2 Remuneration for generated and operated energy </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the case of thermal power generators,
a remuneration was set for generated energy, depending on the type of fuel used, and for operated energy, as shown below:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 31%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Remuneration</TD>
    <TD STYLE="width: 23%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 440/21</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD>
    <TD STYLE="width: 23%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 826/22</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD>
    <TD STYLE="vertical-align: top; width: 23%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 869/23</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Generated energy</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Between 310 and 542 </TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Between 585 and 1,023</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Between 1,473 and 2,578</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Operated energy</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">108</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">204</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">513</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It is worth highlighting that if the thermal
generation unit operates outside its optimal dispatch, the remuneration for generated energy will be recognised at 60% of the installed
net capacity, irrespective of the energy delivered by the unit.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the case of hydroelectric plants, the
following prices were established for generated and operated energy, irrespective of scale:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 34%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Remuneration</TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 440/21</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 826/22</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD>
    <TD STYLE="vertical-align: top; width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 869/23</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Generated energy </TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">271</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">512</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">1,288</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Operated energy</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">108</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">204</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">513</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The remuneration for operated energy should
correspond with the grid&#8217;s optimal dispatch; however, the current resolution does not indicate which would be the consequence otherwise.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the case of pumping hydroelectric power
plants, both the generated energy and that used for pumping are considered. Besides, if it works as a synchronous condenser, 77 $/MVAr,
145 $/MVAr and 367 $/MVAr are recognised under SE Resolution No. 440/21, No. 238/22, No. 826/22 and 869/23, respectively, for the megavolt-amperes
exchanged with the grid when required, in addition to the prices for operated energy.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 33 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As regards energy generated from unconventional
sources, a single remuneration value was set irrespective of the source used:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 34%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Remuneration</TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 440/21</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 826/22</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD>
    <TD STYLE="vertical-align: top; width: 22%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SE No. 869/23</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MWh)</P></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Generated energy</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">2,167</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">3,719</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">10,304</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Energy generated before commissioning
will be remunerated by the Agency in Charge of Dispatch at 50% of the above-mentioned remuneration.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.4.3 Additional remuneration</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">For the February
2020-October 2022 period, an additional remuneration was set for the hours of maximum thermal demand (hmrt), corresponding to the 50 hours
with the largest thermal generation dispatch in each month, divided into two blocks of 25 hours each, the following prices being applicable
to the average capacity:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Thermal units:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Period</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">SE No. 440/21</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">SE No. 238/22</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">First 25 hours</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Second 25 hours</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">First 25 hours</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Second 25 hours</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD></TR>
  <TR>
    <TD STYLE="width: 24%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Summer &#8211; Winter</TD>
    <TD STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">58,050</TD>
    <TD STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">29,025</TD>
    <TD STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">83,012</TD>
    <TD STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">41,506</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Fall - Spring</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">9,675</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">-</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">13,835</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">-</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Hidroelectric units &gt; 50 MW and &#8804;
300 MW:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Period</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">SE No. 440/21</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">SE No. 238/22</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">First 25 hours</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Second 25 hours</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">First 25 hours</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Second 25 hours</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD></TR>
  <TR>
    <TD STYLE="width: 24%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Summer &#8211; Winter</TD>
    <TD STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">50,310</TD>
    <TD STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">25,155</TD>
    <TD STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">71,943</TD>
    <TD STYLE="width: 19%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">35,972</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">Fall - Spring</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">8,385</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">-</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">11,991</TD>
    <TD STYLE="border-bottom: black 2.25pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">-</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Hidroelectric units &#8804; 50 MW:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">Period</FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">SE No. 440/21 </FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">SE No. 238/22 </FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">First 25 hours</P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">Second 25 hours</P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">First 25 hours</P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">Second 25 hours</P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">($ / MW-hmrt)</P></TD></TR>
  <TR>
    <TD STYLE="width: 30%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">Summe &#8211; Winter</FONT></TD>
    <TD STYLE="width: 17%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">54,180</FONT></TD>
    <TD STYLE="width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">27,090</FONT></TD>
    <TD STYLE="width: 17%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">77,478</FONT></TD>
    <TD STYLE="width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">38,739</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">Fall &#8211; Spring</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">9,030</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">12,913</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 34 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As from November 2022, a differentiated
remuneration scheme was established for energy generated during peak hours, applicable to thermal and hydroelectric generators, with a
value equivalent to twice the value of the current price of energy generated during peak hours (6:00 p.m. to 11:00 p.m.) every day of
the months of December, January, February, June, July and August, and one time such value for the same hours of the months of March, April,
May, September, October and November.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.4.4 Remuneration for combined cycles
</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">SE Resolution No. 59/23 dated February
7, 2023 established a system combined cycles&#8217; owners could opt-in by executing an availability and efficiency optimization agreement
with CAMMESA. The agreement contemplates an availability commitment of 85% of the net power capacity for a maximum term of 5 years, and
sets a US$&nbsp;2,000/MW-month remuneration for the power capacity made available and the dollarization of the energy price based on the
fuel used (US$&nbsp;3.5/MWh for natural gas and US$&nbsp;6.1/MWh for fuel oil and gas oil). Besides, it provides for a 35% and 15% reduction
in the remuneration collectible for guaranteed power capacity for generators with availability commitments in the spot market for the
summer-winter and autumn-spring periods, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company executed agreements with CAMMESA
for its CTLL and GTGEBA power plants&#8217; combined cycles. Additionally, CTB executed an agreement with CAMMESA for its open cycle&#8217;s
GT units. In all cases, agreements are effective from March 1, 2023 to February 29, 2028.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.1.4.5 Suspension of contracts within
the MAT</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The suspension of contracts within the
MAT (excluding those derived from a differential remuneration scheme) provided for by SE Resolution No. 95/13 remains in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.1.5 <U>Fuel supply for thermal power
plants </U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 27, 2019, the Ministry of
Productive Development Resolution No. 12/19, restored the centralized scheme in CAMMESA for the supply of fuels for generation purposes
(except for generators under the Energy Plus regime and with Wholesale Power Purchase Agreements under Resolution SE No. 287/17).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In December 2020, on account of the implementation
of the GasAr Plan (see Note 2.2.4.1), SE Resolution No.&nbsp;354/20 was passed, which established a new dispatch order for generation
units based on the fuel supplied for their operation under a centralized dispatch scheme.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">SE Resolution No. 354/20 established the
gas volumes CAMMESA should prioritize in the electricity dispatch. In this sense, firm volumes to be used by CAMMESA were defined, including:
i) volumes corresponding to contracts entered into by CAMMESA with producers acceding to the GasAr Plan; ii) volumes corresponding to
contracts executed by adherent producers with generators acceding to the centralized dispatch (these volumes will be discounted by the
adherent producers from the applicable quota for which they should enter into contracts with CAMMESA under the GasAr Plan) and; iii) volumes
to meet the Take or Pay (&#8220;TOP&#8221;) obligations under the supply agreement entered into between ENARSA and Yacimientos Petrol&iacute;feros
Fiscales Bolivianos (&#8220;YPFB&#8221;).</P>


<!-- Field: Page; Sequence: 35 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Besides, an electricity dispatch priority
scheme was set based on the allocation of the natural gas quota taking into consideration the TOP obligations. To this effect, the following
priorities were set (within each priority level, the order of agents is set based on the generator&#8217;s production cost):</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(i)</TD><TD STYLE="text-align: justify">Dispatch Priority 1: generators, self-generators and/or co-generators supplied with a natural gas quota
under a TOP Bolivia condition assigned by ENARSA. If a generator with a fuel stocking obligation optionally acquires from ENARSA natural
gas from Bolivia, this volume will be included in this quota.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(ii)</TD><TD STYLE="text-align: justify">Dispatch Priority 2: generators, self-generators and/or co-generators supplied by CAMMESA with a natural
gas quota from the centralized list of volumes up to the TOP of each contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(iii)</TD><TD STYLE="text-align: justify">Dispatch Priority 3: generators, self-generators and/or co-generators supplied by CAMMESA with a natural
gas quota from the centralized list of volumes for the daily maximum amount less those corresponding to the TOP of each contract.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(iv)</TD><TD STYLE="text-align: justify">Dispatch Priority 4: generators, self-generators and/or co-generators supplied by CAMMESA with natural
gas or LNG coming from other firm commitments undertaken by CAMMESA.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">(v)</TD><TD STYLE="text-align: justify">Dispatch Priority 5: generators, self-generators and/or co-generators supplied with a gas quota from the
unassigned, spot natural gas contracts from any source, acquired by CAMMESA and/or the generator, according to the supply source. In the
case of a generator with its own fuel, the maximum amount to be acknowledged will be the corresponding reference prices.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As regards the costs associated with the
supply of these fuels, it was established that the electricity demand will bear, among others, the regulated transportation costs, the
cost of natural gas and the applicable TOP obligations.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Generating agents that kept the possibility
to purchase their fuel supply (agents under the Energy Plus regime or with Wholesale Purchase Agreements under Resolution SE No. 287/17)
could opt in or out of CAMMESA&#8217;s unified dispatch, through the operating assignment of the contracted firm transportation and gas
volumes, which impact the assigned priority order. Under such assignment, agents should waive all claims regarding the application of
SE Resolution No.&nbsp;354/20.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the specific case of generators with
wholesale power purchase agreements under SE Resolution No. 287/17, it was provided that they would have the option of canceling the self-supply
obligation and the resulting recognition of its associated costs, having to maintain the respective transportation capacity for its management
in the centralized dispatch.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company assigned the firm transportation
and gas volumes committed to supplying Genelba Plus&#8217; CC and Energy Plus contracts, setting certain guidelines for calculating fuel
costs to support its Energy Plus contracts. In the case of the supply to Genelba Plus&#8217; CC, the assignment will remain effective
during the life of the GasAr Plan, and it may be revoked by the generator with a minimum advance notice of 30 business days. Within this
framework, the parties agreed to enter into an addendum to the Wholesale Power Purchase Agreement to establish the modifications regarding
this new supply scheme, which execution is pending as of the issuance of these Consolidated Financial Statements.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>2.1.6 New demand charges</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under Resolution No. 976/23, the SE established
that, as from February 2024, CAMMESA should bill distribution agents and/or service providers of the WEM and Tierra del Fuego&#8217;s
WEM system new charges that are directly transferred to GUDI customers&#8217; bills.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The additional charges comprise: (i) a
stabilized charge for the price of energy and (ii) a complementary power adjustment, seeking to bring GUDI costs in line with GUME and
GUMA costs.</P>


<!-- Field: Page; Sequence: 36 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Arial Unicode MS; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">2.2&nbsp;</TD><TD><B>&nbsp;Oil and gas</B></TD></TR></TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.1 <U>Argentine Hydrocarbons Law</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On October 29, 2014, the National Congress
enacted Law No. 27,007 amending Hydrocarbons Law No. 17,319 (enacted in 1967), which empowers the Government to grant exploration permits
and concessions to the private sector. Additionally:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(i)</TD><TD STYLE="text-align: justify">Sets the terms for exploration permits:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify"><I>Conventional exploration</I>: the basic term is divided into two periods of up to three years each,
plus an optional extension of up to five years ;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify"><I>Unconventional exploration</I>: the basic term is divided into two periods of four years each, plus
an optional extension of up to five years; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify"><I>Continental shelf and off-shore exploitation</I>: the basic term is divided into two periods of three
years each, plus an optional extension of one year each.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 37 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(ii)</TD><TD STYLE="text-align: justify">Sets the terms for exploitation concessions, extensible for 10-year terms:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify"><I>Conventional exploitation concession</I>: 25 years;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify"><I>Unconventional exploitation concession</I>: 35 years; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify"><I>Continental shelf and off-shore exploitation concession</I>: 30 years.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(iii)</TD><TD STYLE="text-align: justify">Sets transportation concessions will be granted for the same term than that granted for the originating
exploitation concession.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(iv)</TD><TD STYLE="text-align: justify">Sets prices for payments of exploration and exploitation levy and empowers the enforcement authority to
establish the payment of extension and exploitation bonds.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(v)</TD><TD STYLE="text-align: justify">Establishes a 12% royalty payable by the exploitation concessionaire to the grantor on the proceeds derived
from liquid hydrocarbons extracted at wellhead and the production of natural gas. In the case of extension, additional royalties for up
to 3% over the applicable royalties at the time of the first extension, up to a total of 18%, will be paid for the following extensions.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(vi)</TD><TD STYLE="text-align: justify">Provides for two types of non-binding commitments between the National Government and the Provinces aiming
to establish a uniform environmental legislation and to adopt a uniform tax treatment to encourage hydrocarbon activities.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(vii)</TD><TD STYLE="text-align: justify">Restricts the National Government and the Provinces from reserving new areas in the future in favor of
public or mixed companies or entities, irrespective of their legal form.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On its part, the Ministry of Energy and
Natural Resources of the Province of Neuqu&eacute;n established certain parameters for the granting of CENCH in this province, instrumented
through Resolution No. 53/20 dated July 1, 2020 and Resolution No. 142/21 dated November 24, 2021, and later ratified by Provincial Executive
Order No. 2,183/21 in December 2021. Companies may request a CENCH based on a development project that will include a pilot plan for a
term of up to five years to demonstrate its technical and economic feasibility. Furthermore, if companies request the inclusion in the
CENCH of a surface larger than that assigned to the approved pilot plan, the payment of a block extension bond should be included, which
value will be associated with the resources expected to be recovered in the extended block, considering the basin&#8217;s average price
over the last two&nbsp;years. Besides, while the CENCH is in effect, companies should submit continuous development plans and investment
commitments, updated annually.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 38 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.2 <U>Hydrocarbon exploration and exploitation
levy</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Law No. 27,007 set the levy values per
km2 or fraction for exploitation and exploration permits, payable annually and in advance by the permit holder. On September 26, 2019,
the Province of Neuqu&eacute;n, pursuant to Provincial Executive Order No. 2,032/19, published new levy values per km2 or fraction effective
for this province as from 2020.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">From 2021, PEN Executive Order No. 771/20
set a maximum levy in pesos equivalent to a certain volume of oil at the average price for the semester before settlement, at BNA&#8217;s
exchange rate effective on the last business day before payment. This scheme is applicable nationwide (including the Province of Neuqu&eacute;n,
which acceded to it under Provincial Executive Order No. 1,656/20). Exploitation permits amount to 8.28 barrels and exploration permits
to 0.46 barrels in the first period, 1.84 barrels in the second period of the basic term, and 32.22 barrels in the extension period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.3 <U>Currency access for incremental
oil and natural gas production systems and regional and national supplier&#8217;s employment, labor and development promotion system</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 28, 2022, PEN Executive Order No.
277/22 was published, which established currency access systems for the incremental production of oil (&#8220;RADPIP&#8221;) and natural
gas (&#8220;RADPIGN&#8221;), as well as the regional and national supplier&#8217;s employment, labor and development promotion system
(&#8220;RPEPNIH&#8221;). This executive order, later regulated by PEN Executive Order No. 484/22 dated August 12, 2022, mainly provided
for eased access to the MLC for beneficiaries increasing their gas injection levels and/or oil production.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Beneficiaries must meet the following
requirements to access the RADPIP and the RADPIGN: (i) be registered with the SE&#8217;s oil companies registry; (ii) accede to the system;
(iii) attain an incremental oil production or natural gas incremental injection levels; (iv) comply with the RPEPNIH; and (v) be an awardee
and fulfill the obligations provided under natural gas production promotion or stimulus programs (exclusively for the RADPIGN).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 21.3pt">&nbsp;</P>


<!-- Field: Page; Sequence: 39 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Beneficiaries under these systems may
access the MLC to make principal and interest payments of commercial or financial liabilities abroad, including liabilities with non-resident
affiliates, and to pay earnings and dividends for closed and audited balance sheets and/or the repatriation of direct investments by non-residents.
This benefit may be transmitted to direct suppliers. Moreover, access to the MLC under this system will not be subject to BCRA&#8217;s
prior authorization requirement in case exchange regulations so require.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Currency access benefits for acceding
the RADPIP and/or RADPIGN will be taken into consideration and timely discounted.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Regarding the RPEPNIH, supplier development
plans guaranteeing regional and national integration will be controlled. Moreover, a hiring scheme is contemplated granting preferences
to regional and national goods and/or services suppliers.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On January 16, 2023, SE Resolution No.
13/23 was published in the BO, which regulated the opt-in system and the procedure to obtain the currency access benefit created by PEN
Executive Order No. 277/22.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Through notes issued in August and September
2023, the Undersecretariat of Hydrocarbons granted the Company the certificates of access to the RAPIDGN and RADPIP benefit for the third
and fourth quarters of 2022 and the first quarter of&nbsp;2023.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, the certificates for the
second, third and fourth quarters of 2023 were requested in a timely manner, and have not been granted as of the date of issuance of these
Consolidated Financial Statements.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.4 Gas Market</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.4.1 Natural Gas Production Promotion
or Stimulus Programs</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.4.1.1 Argentine Natural Gas Production
Promotion Plan (&#8220;GasAr Plan&#8221;)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 16, 2020, Executive Order
No. 892/20 was published in the BO, which approved the GasAr Plan to foster the development of the Argentine gas industry based on a bidding
mechanism, and instructed the SE to instrument such plan and to set the applicable complementary and clarifying rules.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 23, 2020, the SE, through
Resolution No. 317/20, launched the &#8220;National Public Call for Tenders for the Argentine Natural Gas Production Promotion Plan &#8211;
2020-2024 supply and demand scheme&#8221; for the award of a volume of 70 million m3 of natural gas per calendar year (CAMMESA plus distributors),
which may be modified by the SE to guarantee an optimal domestic supply.</P>


<!-- Field: Page; Sequence: 40 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The contract samples stipulated a Deliver
or Pay (&#8220;DOP&#8221;) obligation of 100% per day for producers and a Take or Pay (&#8220;TOP&#8221;) obligation of 75% per month
for CAMMESA and per quarter for distributors. Regarding the payment of contracts with distributors, the Federal Government will bear the
monthly difference between the price tendered and that resulting from the tariff schemes through a subsidy payable directly to producers.
Under Law No. 27,591, payment of this subsidy is secured by Tax Credit Certificates, which were regulated by SE Resolution No. 125/21
and AFIP General Resolution No. 4,939/21.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, to access the GasAr Plan
producers submitted a plan of investments necessary to maintain the committed production and a national added-value commitment providing
for the development of direct local, regional and national suppliers.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 15, 2020, Resolution No. 391/20
was published in the BO, awarding the natural gas volumes tendered under GasAr Plan, Round 1. In this sense, out of a total natural gas
base volume of 67.42 million m3/day to be purchased, in terms of tendered volume, the Company ranked third in the Neuquina Basin, with
an awarded base volume of 4.9 million m3/day at an annual average price of US$ 3.60/MBTU for a term of four years effective as from January
1, 2021.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, the Company has been one
of the three producers tendering an additional volume for the winter period, with the award of 1 million m3/day at US$ 4.68/MBTU, a volume
deemed indispensable to accompany the high seasonality of the Argentine demand, reducing gas imports, the consumption of alternative fuels,
and the use of foreign-currency reserves.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On March 9, 2021 Resolution No. 169/21
was published in the BO, which awarded natural gas volumes offered under the GasAr Plan, Round 2 Tender. In this sense, the Company was
awarded a volume of 0.70 million m3/day, 0.90 million m3/day and 1 million m3/day for the months of June, July and August-September 2021,
respectively, and 0.86 million m3/day to meet the winter peak demand for the years 2022 through 2024, at a price of US$ 4.68/MBTU.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under Resolution No. 984/21 dated October
19, 2021, the SE called for Round 3 under GasAr Plan for 2022 through 2024 inclusive, with injection starting in May 2022. The resolution
determined that the cap price for tenders is the maximum price tendered under Round 1. The Company took part in this call, tendering 2
million m3/day for the Neuquina basin at a price of US$ 3.347/MBTU; on November 11, 2021, the SE issued Resolution No. 1,091/21, awarding
the tendered volumes and prices.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 41 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.4.1.2 2023-2028 Plan to Reinsure and
Encourage Federal Hydrocarbon Production, Domestic Self-Supply, Exports, Imports Substitution, and the Expansion of the Transportation
System for all the Country&#8217;s Hydrocarbon Basins (&#8220;Reinsurance Plan&#8221;).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 3, 2022, Executive Order No.
730/22 was published in the BO, which amended the GasAr Plan&#8217;s scheme approved by Executive Order No. 892/20.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Reinsurance Plan establishes a new
term for the system until December 31, 2028, with the following main objectives: (i) consolidating a new 70 MMm3/d flat block (volumes
awarded under GasAr Plan&#8217;s Round 1 and 3), excluding winter peaks; and (ii) developing the demand for the incremental volumes to
be evacuated using the new transportation capacity following the construction of the N&eacute;stor Kirchner Gas Pipeline (TransportAr
Program, SE Resolution No. 67/22).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Consequently, on November 14, 2022, SE
Resolution No. 770/22 was published in the BO, calling for Tender Rounds 4 for the Neuquina Basin, and 5, for the Del Golfo and Austral
Basins.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For the Neuquina Basin, the following
calls were made:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(i) Round 4.1: for the extension of the commitments
undertaken under Rounds 1 and 3 of the GasAr Plan for 4 additional years, from January 1, 2025 to December 31, 2028, for the same volumes,
and with prices equal to or lower than the timely awarded price; and</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(ii) Round 4.2: for the award of the following
incremental volumes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">(a)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Flat Gas: 11 MMm3/day from July 1, 2023 to December 31, 2028, and 3 MMm3/day from January
1, 2024 to December 31, 2028, with prices not exceeding US$ 4 MBTU; and</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">(b)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Peak Gas: 7 MMm3/day from May 1 to September 30, for each of the 2024-2028 and 2025-2028
periods, with prices equal to or lower than US$ 6.9 MBTU and an applicable 1.3 adjustment factor.</TD>
</TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company participated in Round 4.1,
seeking to extend commitments under GasAr Plan&#8217;s Rounds 1 and 3 until December 2028 and keeping the originally tendered prices of
US$ 3.6 MBTU and US$ 3.347 MBTU, respectively. Moreover, it submitted the following tenders under Round 4.2: (i) Flat Gas: 4.8 million
m3/day at a price of US$ 3.485 MBTU from July 1, 2023 to December 31, 2028; (ii) Peak Gas: 3 million m3/day at a price of US$ 5.190 MBTU
for the 2024-2028 period and 1.9 million m3/day at US$ 4.770 MBTU for the 2025-2028 period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 22, 2022, through SE Resolution
No. 860/22, the Company was awarded the extension of the commitments for Round 4.1 and a 4.8 million m3/day demand associated with flat
gas under Round 4.2.</P>


<!-- Field: Page; Sequence: 42 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The awards granted to the Company and
the contracts executed represent a production commitment of 15.7 million m3/day for winter periods and 13.8 million m3/day for summer
periods in 2023-2024. Compared to 2022, this commitment represents a 44% increase in winter production, the period with the largest gas
supply needs in the country. As from 2025, the commitment under the Reinsurance Plan will amount to 13.8 million m3/day.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Based on the gas demand curve projected
by the SE, the Company will enter into new contracts with CAMMESA, ENARSA and distributors.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.4.1.3 Plan GasAr&#8217;s Round 5.2
&#8211; Aguarag&uuml;e Joint Operation</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Pampa, jointly with all partners of the
Aguarag&uuml;e Joint Operation, participated in Round&nbsp;5.2 of Plan GasAr, called under SE Resolution No. 770/22, and was awarded this
project. The companies making up the Joint Operation appended a single incremental activity plan with an expected natural gas production
incremental volume for the Joint Operation exceeding 400,000 m3/d as from the last quarter of 2023. The Company holds a 15% stake in this
Joint Operation.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On September 27, 2023, gas volumes under
Plan GasAr - Round 5.2 were awarded pursuant to SE Resolution No. 799/23. The scheme provides for the sale of incremental volumes to ENARSA
for the October 1, 2023-December 31, 2028 period. The agreed sales price amounts to US$&nbsp;9.8 /MMBTU between October 2023 and December
2026, and US$ 6 /MMBTU between January 2027 and December 2028.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>2.2.4.2 Natural gas for the residential segment
and CNG</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 27, 2022, SE Resolution No. 403/22
provided for an update of new natural gas PIST prices under existing contracts executed within the framework of GasAr Plan&#8217;s promotion
scheme, reducing the subsidy payable by the Federal Government from June 1, 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, in the months of February,
June and August 2022, public hearings were held to analyze the Plan Gas.Ar portion of the natural gas PIST price to be borne by the Federal
Government. It is worth highlighting that SE Resolution No. 610/22 determined a gradual increase in the PIST price distributors will pay
for unsubsidized residential consumptions, keeping the subsidized price for the remaining users.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On January 10, 2023, SE Resolution No.
6/23 was published, establishing updates of natural gas PIST prices for contracts executed under the GasAr Plan and the Reinsurance Plan
based on the different types of users.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.2.4.3 Acquisition of Natural Gas
for Generation</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">From December 30, 2019, CAMMESA&#8217;s
centralization scheme for the supply of fuels for generation was restored (except for generators with Energy Plus and SE Res. No. 287/17
contracts). Since then, CAMMESA has launched successive calls for tenders to cover its monthly consumption. Moreover, from 2021, most
gas supplies to CAMMESA are channeled through GasAr Plan, for the volumes committed under this program over an initial term of 4&nbsp;years.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 43 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In addition to GasAr Plan, since mid-July
2021 CAMMESA launched biweekly calls for tenders by GasAr Plan awardees that may offer surplus volumes, with a maximum price equivalent
to that awarded in the plan&#8217;s Round 1.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In 2023 and 2022, an average of 287 million
m3/day and 451 million m3/day were awarded to GasAr Plan beneficiaries at US$ 3.4 MBTU and US$ 3.5 MBTU, respectively (185 million m3/day
and 276 million m3/day, respectively, corresponding to the Neuquina Basin).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, in 2023, 25 million m3/day
were awarded in complementary calls at US$2.6/MBTU (of which 15&nbsp;million m3/day correspond to the Neuquina Basin).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.2.4.4 Natural Gas Exports</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On April 27, 2021, SE Resolution No. 360/21
regulated the new procedure for the authorization of natural gas exports. This resolution contemplates exports on a firm and preferential
basis for GasAr Plan&#8217;s awardees, and sets a minimum sale price equivalent to the summer price awarded in Round 1. In this manner,
the Company, as an awardee under GasAr Plan, may make firm exports during the summer period, extendable to the winter period when there
is an oversupply in a specific basin and with the prior approval of the applicable authority.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In May and December 2021, Pampa was granted
permits to export gas to Chile on a firm basis for a maximum volume of 1.5&nbsp;million m3/day and 1.22 million m3/day for the October
2021 &#8211; April 2022 and January &#8211; April 2022 periods, respectively. Besides, between September and December 2021, new interruptible
permits to Chile, Brazil, and Uruguay were added, with expirations between November 2022 and December 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under GasAr Plan, in August 2022 the Company
was cleared to export gas to Chile on a firm basis for a maximum volume of 1,492 MMm3/d for the October 2022 &#8211; April 2023 period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 17, 2022, SE Resolution No.
774/22, which supersedes SE Resolution No. 360/21, was published in the BO. This resolution establishes a new proceeding delimiting four
export areas: the Neuquina Basin and the Austral Basin with summer quotas (October 2023-April 2024 period) of 9 MMm3/day and 2 MMm3/day,
respectively, and the Noroeste Basin and other areas with no quota definition.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The distribution of firm summer quotas
among producers is made considering (i) the share of the producer&#8217;s volume in the basin&#8217;s total volume, and (ii) the highest
discount in the weighted-average price discount per volume against the basin&#8217;s incremental volume.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The minimum reference price is set at
the higher of the Brent quotation percentage determined by the SE and the average price awarded, adjusted by the seasonal index, with
the authorization to withdraw volumes from the contracts executed under GasAr Plan and/or the Reinsurance Plan with CAMMESA and/or ENARSA.</P>


<!-- Field: Page; Sequence: 44 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On April 19, 2023, the SE notified the
Company of the extension of the Neuquina basin&#8217;s natural gas export quota for the next winter period, consisting of: (i) an extraordinary
and priority quota of 2 million m3/d for the months of May and June 2023, assignable pro rata among the &#8220;July Flat Gas Commitment&#8221;
awardees, and (ii) a firm winter export quota under Plan GasAr for a 3 million m3/d volume for the months of July, August and September
2023.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In this sense, the Company was assigned
an additional volume of 872,727 m3/, totaling a 2,181,818 m3/d export quota for the months of May and June. The volume assigned for the
months of July, August and September was 857,449 m3/d. Regarding the minimum price for export permits, it will remain at US$ 7.73/MMBTU.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Moreover, the following export quotas
for the period between October 2023 and April 2024 were assigned: 9 million m3/d for the Neuquina Basin and 2 million m3/d for the Austral
Basin. The minimum price will result from calculating the simple average Brent oil prices in the first fifteen days of the month prior
to delivery, multiplied by 7%. The Company was assigned a 1,452,878 m3/d volume.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Besides, the SE set an export quota of
a total of 5.9 million m3/d for the winter period (May-September 2024) and a total of 9&nbsp;million m3/d for the summer period (October-December
2024). In line with its participation in Plan GasAr, the Company was assigned a volume of 610,989 m3/d for the winter period and 606,529
m3/d for the summer period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It is worth highlighting that a natural
gas export duty has been in effect since May 2020. PEN Executive Order No. 488/20, issued on May 19, 2020, established an export duty
exemption as long as the international Brent price was equal to or below US$45/bbl. The rate would rise gradually in line with the international
reference price until reaching 8%, the cap to be recognized when Brent equals or exceeds US$60/bbl. Since February 2021, the rate has
remained at 8%.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.2.4.5 &#8220;TransportAr National
Production&#8221; Pipelines System Program</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On February 9, 2022, SE Resolution No.
67/22 was published in the BO declaring the construction of &#8220;President N&eacute;stor Kirchner Pipeline&#8221; of national public
interest. This pipeline will transport natural gas through the Province of Neuqu&eacute;n, the Province of Buenos Aires, and the Province
of Santa Fe.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Moreover, it created the TransportAr Production
Gas Pipelines System Program to execute the works necessary to expand the system&#8217;s transportation capacity including a list of pipeline
works to be executed by ENARSA or through third parties to promote development, production growth, and natural gas self-supply, among
other objectives.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On August 10, 2022, Argentine authorities
signed contracts for the Stage 1 N&eacute;stor Kirchner Gas Pipeline construction, (Tratay&eacute;n - Salliquel&oacute;).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Later, PEN Executive Order No. 76/22,
published on February 14, 2022, granted ENARSA a 35-year transportation concession of President N&eacute;stor Kirchner pipeline under
Law No. 17,319 and the power to contract, plan, execute and call for tenders for the construction of the infrastructure works under the
Program. ENARSA may enter into transportation capacity freely-negotiated agreements with producers and/or carriers to construct or expand
all or part of the pipeline. This transportation capacity will not be covered by tariffs approved by ENARGAS, which will apply to the
remaining transportation capacity not committed under these agreements. This executive order grants YPF priority to hire the capacity
that can be freely negotiated by ENARSA. Moreover, ENARSA may fully or partially assign ownership of its concession to YPF.</P>


<!-- Field: Page; Sequence: 45 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 2</U>:</B> (Continuation)</P>



<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Besides, the &#8220;Argentine Gas Development
Fund&#8221; administrative and financial trust was created, with ENARSA as trustor and beneficiary, to finance works under the program,
including the repayment of principal and interest services of the trust securities to be issued thereunder. The trust estate administrator
and trustee will be Banco de Inversi&oacute;n y Comercio Exterior S.A.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In July 2023, cleaning and filling operations
were conducted in the new Tratay&eacute;n &#8211; Salliquel&oacute; tranche of President N&eacute;stor Kirchner gas pipeline, and transportation
operations pursuant to regulatory requirements and standards started as from August 3, 2023.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">President N&eacute;stor Kirchner Gas Pipeline&#8217;s
Tratay&eacute;n &#8211; Salliquel&oacute; tranche, crosses the provinces of Neuqu&eacute;n, R&iacute;o Negro, La Pampa and Buenos Aires,
with a 573 km extension and an initial transportation capacity of 11&nbsp;million m3/day of gas produced at the Vaca Muerta field.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">Furthermore,
on August 25, 2023, a call for tenders was launched for the Northern gas pipeline reversion project, complementary works to President
N&eacute;stor Kirchner gas pipeline consisting of the engineering and construction of the 122-km Tio Pujio &#8211; La Carlota gas pipeline,
the 62-km expansion of the Northern gas pipeline and the reversion of four compression plants in the provinces of C&oacute;rdoba, Santiago
del Estero and Salta. As of the issuance of these consolidated condensed interim financial statements, ENARSA, after declaring the call
for tenders for line&nbsp;1 unawarded, granted the construction of lines 2 and 3 of the Northern gas pipeline reversion project to the
Techint-SACDE Joint Venture and will call for a new abbreviated tender process for line 1 of the pipeline.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 46 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.2.5 <U>Oil market</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.2.5.1 Crude oil price </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of this date, there is no reference
price for the sale of crude oil in the domestic market. However, considering pump prices for fuels, local refining companies are validating
prices below the export parity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Just as with natural gas exports, a crude
oil export duty has been in effect since May 2020. PEN Executive Order No. 488/20, issued on May 19, 2020, provided for an export duty
exemption as long as the international Brent price was equal to or below US$ 45/bbl, rising gradually as the international reference price
increased until reaching 8%, the cap to be recognised when the reference price equals or exceeds US$ 60/bbl. Since February 2021, the
rate has remained at 8%.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.2.5.2 Oil transportation</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In fiscal year 2022, Oldelval, as holder
of the national liquid hydrocarbons transportation concession, launched a call for tenders to award and hire the firm transportation service
for the Allen - Puerto Rosales oil pipeline tranche for a capacity of up to 50,000 m3/day.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">This volume has been fully awarded, and
the necessary execution contracts have been entered into, effective until the termination of the transportation concession term in 2037.
Pampa was awarded 1,002 m3/day.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under Oldelval&#8217;s call for tenders,
the company Oiltanking Ebytem launched a call to increase the oil dispatch capacity for up to 50,000 m3/day and the storage capacity for
up to 300,000 m3. These expansions will be allocated exclusively to oil exports. Pampa was awarded a 1,002 m3/day dispatch capacity and
oil storage capacity for 6,008 m3.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>2.3 Gas Transportation</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.3.1 <U>TGS&#8217;s Tariff situation</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On March 30, 2017, TGS executed the 2017
Integral Agreement which was ratified on March 27, 2018, through PEN Executive Order No. 250/18. This executive order represents the conclusion
of the RTI process and terminates all transitional agreements celebrated by TGS.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 47 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The 2017 Integral Agreement set the guidelines
for the provision of the natural gas transportation service until the end of the license, among these guidelines approved: (i) a tariff
increase was granted in installments for TGS as from April 1, 2017; (ii) a Five-Year Investment Plan to be executed by TGS between April
2017 and March, 2022; and (iii) a non-automatic six-month adjustment mechanism for the natural gas transportation tariff and the investment
commitments considering IPIM published by INDEC subject to ENARGAS&#8217; approval.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the public hearing held on September
4, 2018, in which TGS requested, based on the variation of the IPIM recorded for the period February - August 2018, a tariff increase
of approximately 30%. Considering the hearing, on September 27, 2018, ENARGAS issued Resolution No. 265/18 which determined a 19.7% tariff
increase effective as of October 1, 2018.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">This increase was determined by ENARGAS
based on the simple average of the IPIM, the construction cost index for the period February and August 2018 and the Salary Variation
Index between December 2017 and June 2018. ENARGAS supported the determination of the aforementioned tariff increase in the provisions
of Resolution No. 4,362/17, which, among other issues, provided that under certain circumstances and macroeconomic conditions, such as
the significant devaluation occurred after April 2018, ENARGAS may use other indexes than the IPIM to determine the tariff increase. TGS
notified ENARGAS of its disagreement with respect to the methodology for calculating the semi-annual adjustment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On March 29, 2019, ENARGAS issued Resolution
No. 192/19 approved, effective as from April 1, 2019, a 26% increase in tariff schemes applicable to the natural gas transportation utility
by TGS current as of March 31, 2019. In accordance with current regulations, ENARGAS considered the evolution of the IPIM update index
between the months of August 2018 and February 2019 to define six-monthly adjustments to TGS&#8217; tariffs.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As regards the semi-annual tariff update
which should have become effective as from October 1, 2019, on September 3, 2019, the SE issued Resolution No. 521/19, later amended by
Resolution No. 751/19, postponed its application until February 1, 2020. This deferral resulted in the revision and adjustment of the
Five-Year Investment Plan execution, in the same proportion as the foregone income for TGS.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 16, 2020, PEN Executive Order
No. 1,020/20 was passed within the framework of the Solidarity Law, later extended by PEN Executive Order No. 815/22, launching the renegotiation
of the RTI concluded in 2018 while suspending renegotiation agreements in force until December 16, 2023 and providing for the administrative
intervention of the ENARGAS.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 48 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The public hearing called by ENARGAS to
discuss the RTT pursuant to the provisions of PEN Executive Order No.&nbsp;1,020/20 took place on March 16, 2021. In this respect, TGS,
without waiving the whole of its percentage share of tariff recomposition, alternatively submitted its tariff increase proposal, assessed
at 58.6% as from April 1, 2021. This increase was assessed based on the financial needs to meet operating and financial costs, capital
expenditures and taxes, which were calculated taking into consideration the evolution of the inflation rate over a 12-month period as
from its beginning. The requested increase only contemplated the funds necessary to meet its obligations as licensee.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, TGS denied and dismissed
the arguments raised in the public hearing, which considered that the current natural gas transportation tariff is not fair or reasonable
given the alleged existence of serious flaws in the administrative acts resulting from the proceedings for the last RTI established for&nbsp;TGS.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On April 28, 2021, ENARGAS submitted to
TGS the 2021 Transitional Agreement (&#8220;RTT 2021&#8221;), which: (i) does not grant a transitory tariff update, keeping unchanged
the tariff schemes approved by ENARGAS in April 2019; (ii) provides that, as from May 2021 and until the Final Renegotiation Agreement
enters into effect, ENARGAS will recalculate the transportation tariffs effective at the time, with validity as from April 1, 2022.; (iii)
does not establish a mandatory investment plan; and (iv) establishes the prohibition to distribute dividends, early cancel financial and
commercial debts taken on with shareholders, acquire other companies, or grant loans.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On April 30, 2021 and through a note sent
to this body, TGS expressed that, given the context in which it develops its activities and the proposed terms and conditions, it is not
feasible for TGS to enter into the RTT 2021.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On June 2, 2021, ENARGAS issued Resolution
No. 149/21 approving an RTT 2021 for TGS effective as from that date. Moreover, the National Ministry of Economy and ENARGAS issued Joint
Resolution No. 1/21 approving the proceedings under the renegotiation process developed by ENARGAS pursuant to PEN Executive Order No.
1,020/20, stating that it was not feasible to reach an agreement on a transitional tariff update.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Given this situation, in July 2021, TGS
filed motions for reconsideration, subsidiarity filing a hierarchical appeal, before the PEN, the National Ministry of Economy and ENARGAS
according to the respective jurisdictions of each of these bodies in the passing of the regulations associated with Resolution No. 149/21,
requesting the declaration of nullity of the RTT 2021 and the reinstatement of the RTI.</P>


<!-- Field: Page; Sequence: 49 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The challenges are based on: (i) the illegality
of Executive Order No. 1,020/20, as it does not observe the delegation lines provided for by Act No. 27,541 and, as it does not meet the
requirements established by the Constitution for the dictation of this regulation; (ii) the extension of the emergency period beyond that
established by the Congress; (iii) the tariff renegotiation under Act No. 24,076 is not performed; (iv) the disregard for the principle
of fair and reasonable tariffs, and the rights acquired by TGS under the license, the Contractual Adjustment Memorandum of Understanding
and the RTI; and (v) the suspension of the RTI for reasons of public interest, which merits the recognition of the compensations provided
for by both the Administrative Procedures Act and the License Basic Rules.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In turn, the restrictions on the management
and administration of TGS have been challenged for lacking legal justification, as the emergency declared by Act No. 27,541 only empowered
the PEN to renegotiate the RTI, but not the License. The challenges and the request for reinstatement of the RTI have been filed notwithstanding
TGS&#8217;s right to the payment of the compensations it is entitled to on account of the breach of the RTI as from April 2019.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 15, 2021, TGS filed a Prior
Administrative Claim before ENARGAS and the Ministry of Economy. This presentation seeks to request compensation due to TGS for the non-application
of the semi-annual adjustment methodology set by the RTI and approved by Resolution 4,362 between October 1, 2019 and June 1, 2021.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Moreover, TGS seeks compensation for the
damages sustained by the freeze resulting from the failure to apply the semi-annual adjustment methodology set by the RTI for this period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On January 19, 2022, a new public hearing
was held within the framework of ENARGAS Resolution No. 518/21 to address the transition tariff update under PEN Executive Order No. 1020/20.
In this hearing, aiming to reach a final agreement and restore the economic and financial equation, TGS requested a transition tariff
adjustment in two stages for 2022 for a total of 106%, given the evolution of operating costs and the main macroeconomic indicators.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Later, on February 1, 2022, TGS received
from ENARGAS the proposed Renegotiation Transition Agreement (the &#8220;RTT 2022&#8221;), which was approved by TGS&#8217;s Board of
Directors on February 2, 2022, and by the applicable governmental bodies on February 18, 2022. The RTT 2022 included certain terms similar
to the RTT 2021, with the specific provision that it granted TGS a 60% tariff increase effective from March 1, 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The RTT 2022 was ratified through PEN
Executive Order No. 91/22, effective from February 23, 2022. On February 25, 2022, ENARGAS Resolution No. 60/22 was published in the BO,
launching the tariff schemes contemplated in the RTT 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 50 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It is worth highlighting that, as provided
in the RTT 2022, TGS undertook not to initiate new claims, remedies, lawsuits, or any kind of actions; and/or to suspend, keep suspended
or extend the suspension of all claims and remedies associated in any way with the current RTI renegotiation, Law No. 27,541, Decrees
No. 278/20 and No. 1,020/20.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 7, 2022, ENARGAS issued Resolution
No. 523/22 calling for a public hearing, to be held on January 4, 2023, to consider the transitional tariff update for the natural gas
transportation utility.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On March 16, 2023, TGS&#8217;s Board of
Directors approved a proposed addendum to the renegotiation transitionary agreement (the &#8220;2023 RTT&#8221;) sent by ENARGAS. On April
27, 2023, ENARGAS issued Resolution No. 186/23 publishing the new effective tariff schemes. The 2023 RTT was later ratified by PEN Executive
Order No. 250/23 dated April 29, 2023.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The 2023 RTT includes, effective from
April 29, 2023, a 95% transitionary tariff increase on the natural gas transportation tariff and the access and use charge. While it is
in force, TGS may not distribute dividends or directly or indirectly early cancel financial and commercial debts taken on with shareholders,
acquire other companies or grant loans, except for loans benefiting users or granted to contractors not covered by the previously indicated
cases. If TGS deems it appropriate to act otherwise, it should require the corresponding authorization.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 14, 2023, a public hearing
was called for January 8, 2024 under ENARGAS Resolution No. 704/23. As of the date of issuance of these Consolidated Financial Statements,
the applicable regulations authorizing a transitional tariff increase while the RTI process is underway have not been issued.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 16, 2023, PEN Executive Order
No. 55/23 was issued, declaring the emergency in the national energy sector until December 31, 2024. Among other issues, this executive
order: (i) extends the validity of PEN Executive Order No. 1020/20, (ii) establishes the launching of the RTI process, (iii) sets ENARGAS&#8217;
public audit as from January 1, 2024, and (iv) instructs the SE to issue the necessary rules and procedures for sanctioning market prices
for the natural gas transmission utility.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.3.2 <U>License extension request</U></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On September 8, 2023, TGS submitted a
request to ENARGAS to initiate a license term extension proceeding, as contemplated in Act No. 24,076, and requested the adoption of the
existing performance assessment and public hearing measures so that, once all established administrative formalities and proceedings are
met, a 10-year extension may be granted as from the initial term, effective on December 28, 2027, for the provision of the gas transportation
service contemplating all the scopes of the license approved by Executive Order No. 2,458/92.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of the date of issuance of these Consolidated
Condensed Interim Financial Statements, TGS has not received a formal response from ENARGAS regarding this request.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.3.3 <U>Regulatory framework of the segment
of Production and Commercialization of Liquids</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.3.3.1 Domestic market</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The production and commercialization of
liquids segment is not subject to regulation by ENARGAS. However, over recent years, the Argentine Government enacted regulations which
significantly impacted it.</P>


<!-- Field: Page; Sequence: 51 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 2</U>:</B> (Continuation)</P>


<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">GLP domestic sales prices are impacted
by the provisions of Law No. 26,020 &quot;Regime of the industry and commercialization of liquefied petroleum gas&quot; and the Argentine
Government through the public office in charge, that set forth LPG minimum volumes to be sold in the local market in order to guarantee
domestic supply.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In this context, TGS sells the production
of propane and butane to fractionators at prices determined semiannually. On March 30, 2015, the PEN issued Decree No. 470/15, regulated
by SE Resolution No. 49/15, which created the &#8220;Household Plan&#8221; and sets a maximum reference price for the members of the commercialization
chain in order to guarantee the supply to low-income residential user, by committing the GLP producers to supply at a fixed price with
a quota assigned to each producer. Initially, a payment of compensation to the Household Plan participating producers was established,
which was eliminated as from February 2019.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">TGS has filed various administrative and
judicial claims challenging the general regulations of the program, as well as the administrative acts that determine the volumes of butane
that must be sold in the domestic market, in order to safeguard its economic-financial situation and thus, preventing that this situation
does not extend over time.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 52 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In addition, TGS is a party of the Propane
Gas Supply Agreement for Induced Propane Gas Distribution Networks (&quot;Propane for Networks Agreement&quot;) entered into with the
Argentine Government and propane producers by which it undertakes to supply propane to induced propane gas distributors and sub- distributors
through at a price lower than the market price. In compensation, TGS receives an economic compensation calculated as the difference between
the sale price and the export parity determined by the SE.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As it has been previously mentioned, participation
in the Household Plan results in economic and financial damage to TGS, since under certain circumstances products would be sold at prices
below their production costs.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, the Argentine
Government owes TGS $ 4,676 million under these items.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.3.3.2 Foreign market</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Executive Order No. 488/20 regulated the
rate applicable to the export duties for certain gas and oil derivatives, including the products produced and exported by TGS, which ranges
between 0% and 8% depending on the price of the &#8220;ICE Brent first line&#8221; barrel. If this price is below US$ 45, the rate is
0%. Instead, if the price equals or exceeds US$ 60, an 8% rate is paid, and the rate is variable if the price is between US$ 45 and US$
60.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">During 2023, TGS participated in the Export
Increase Program (see Note 2.6.4).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>2.4 Transmisi&oacute;n</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.4.1 <U>Transener and Transba tariff
situation </U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On February 25, 2022, the ENRE communicated
Resolutions No. 68/22 and 69/22 approving the new hourly remuneration values effective from February 1, 2022, establishing a 25% and 23%
increase compared to the values effective from 2019 for Transener and Transba, respectively. Considering the difference between the presented
financial and economic projections and the values finally approved by the ENRE, a motion to review the records and the respective preliminary
challenges was submitted. Moreover, on March 15, 2022, the applicable motions for reconsideration against these resolutions were filed.
Consequently, under Resolutions No. 147/22 and 148/22, on May 9, 2022 the ENRE partially upheld the filed motions and modified the hourly
remuneration values effective from February 1, 2022, establishing a 67% and 69% increase over the values effective from August 2019 for
Transener and Transba, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 53 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Since August 2022, Transener and Transba
filed notes and held meetings with the SE and the ENRE requesting an update to the transitional tariffs effective from September 2022,
chargeable against the increase to be assessed for 2023. To this effect, the 2023 economic and financial projection was presented with
an explanatory document and a detail of the projected investment plan. Moreover, a presentation was made to CAMMESA&#8217;s Board of Directors
to put the criticality of the transportation sector on record.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under Resolution No. 539/2022, on October
20, 2022 the ENRE called for a public hearing on November 30, 2022 to inform of and gather feedback on the electricity transmission utility
concessionaires&#8217; proposals towards a transitional tariff update under the RTI Renegotiation Process before defining the tariffs
applicable by the concessionaires.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Furthermore, on December 6, 2022, PEN
Executive Order No. 815/22 extended for one-year term PEN Executive Order No. 1,020/20 published on December 17, 2020, through which initiated
RTI renegotiation within up to 2 years from its publication.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Later, on December 29, 2022, aiming to
preserve in 2023 the purchasing power of the revenues established in Resolutions No. 147/22 and 148/22, the ENRE issued Resolutions No.
698/22 and 702/22 setting the hourly remuneration values effective from January 1, 2023, and establishing a 154.5% and 154.1% increase
over the February 2022 values for Transener and Transba, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On April 20, 2023, under ENRE Resolution
No. 364/23, the ENRE launched the comprehensive tariff review process (&#8220;RTI&#8221;) for electricity transmission companies pursuant
to Act No. 24,065 and Act No. 27,541, setting a 30-day term to draw up the guidelines and schedule for its development.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 29, 2023, ENRE Resolution No. 421/23
approved the transmission tariff review program for the year 2023 and the first quarter of 2024, and provided for the ENRE&acute;s notification
of the schedule and information requirements during the months of September and October 2023. In this sense, under a note dated October
26, 2023, the ENRE filed a first request for information, mainly associated with a description of the facilities making up the transportation
system, expansions under execution, investment plans and corridors&#8217; saturation status. On October 27, 2023, Transener and Transba
answered that they would comply with such request in due time and manner, but that it would be necessary for the ENRE to define: i) the
complete RTI process schedule, ii) the economic, financial and regulatory criteria under which such process will be conducted; and iii)
issues regarding the first management period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On September 8, 2023, aiming to preserve
the purchasing power of the revenues established in ENRE Resolutions No. 147/22 and 148/22, the ENRE issued Resolutions No. 660/23 and
661/23 setting the hourly remuneration values effective from August 1, 2023, which represent 20.9% and 20.84% increases over the January
2023 values for Transener and Transba, respectively. Likewise, pursuant to ENRE Resolutions No. 780/23 and 781/23, on November 1, 2023,
hourly remuneration values effective from November 1, 2023 were established, which represented a 37.33% and 38.44% increase over the values
effective from August 2023 for Transener and Transba, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Furthermore, PEN Executive Order No. 55/23,
dated December 16, 2023, declared the emergency in the national energy sector until December 31, 2024. Among other issues, the mentioned
executive order established the launching of the tariff review process in accordance Article 43 of Law No. 24,065 for public electricity
distribution and transmission companies under federal jurisdiction and established that the entry into force of the resulting tariff schedules
may not exceed December 31, 2024.</P>


<!-- Field: Page; Sequence: 54 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Consequently, on January 2, 2024, through
ENRE Resolution No. 3/24, a Public Hearing was called, which was held on January 29, 2024, in order to to inform of and gather feedback
on the electricity transmission utility concessionaires&#8217; proposals towards a transitional tariff update under the RTI Renegotiation
Process before defining the tariffs applicable by the concessionaires.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, through ENRE Resolutions No.
104/24 and 105/24, hourly remuneration values effective as from February 19, 2024 (date of publication in the BO) were established, which
represented an increase of 179.7% and 191.1% compared to the values in force since November 2023 for Transener and Transba, respectively.
Likewise, the tariff adjustment rate to be applied on monthly bases as from May 2024, was determined according to a formula based on wage
index, wholesale prices index and consumer prices index.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>2.5 Regulations on access to the MLC</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In 2020, BCRA introduced measures with
the purpose of regulating inflows and outflows in the MLC to maintain the exchange rate stability and protect international reserves in
view of the high degree of uncertainty and volatility in the exchange rate, including restrictions associated with transactions with stock
market assets by companies and the disposal of liquid foreign assets. Specifically, as from December 11, 2023, any demand for foreign
currency at the MLC requires BCRA&#8217;s prior authorization.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following are certain exceptions to
the prior authorization requirement for access to the MLC:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Firstly, access to the MLC for outflows
without BCRA&#8217;s prior authorization is allowed through the submission of an affidavit declaring that all foreign currency holdings
in the country are deposited in accounts with local financial institutions and that no liquid foreign assets are held for an amount exceeding
US$ 100,000. In case such liquid foreign assets exceed US$ 100,000, an additional affidavit may be filed stating that there is no such
excess amount because payments were made for the MLC through swap and/or arbitrage transactions with deposited funds.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As from December 13, 2023, the MLC may
be accessed, without BCRA&#8217;s prior authorization, for deferred payments of new imports of goods with customs entry registration,
depending on the type of good and according to the schedules provided. Besides, regarding the payment of services rendered by non-residents,
and depending on the type and term of payment, the MLC may be accessed once such services have accrued and/or been rendered.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Moreover, if access to the MLC has been
requested, the entry and settlement in the MLC of the funds received abroad originating from the collection of loans granted to third
parties, the collection of term deposits or the sale of any kind of asset is mandatory within 5 business days of their availability, when
the asset has been acquired, the deposit has been created, or the loan has been granted after May 28, 2020.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Regarding the trading of stock market
assets, it is established that access to the MLC may be granted without BCRA&#8217;s prior authorization by submitting an affidavit stating
that, on the date of access to the MLC and in the previous 90 or 180 calendar days, in case securities issued under Argentine law or foreign
law, respectively, are used, whether directly or indirectly or for the account and order of third parties, no sales of securities issued
by residents to be settled in foreign currency, exchanges of securities issued by residents for foreign assets, transfers of securities
to foreign depositories, acquisitions in the country of securities issued by non-residents to be settled in pesos, acquisitions of CEDEAR
representing foreign shares, acquisitions of securities representing private debt issued in foreign jurisdictions, or deliveries of funds
in local currency or other local assets (except funds in foreign currency deposited in local financial
entities) have been made to any person (whether a person or legal entity, resident or non-resident, related or not), resident or non-resident,
and whether or not affiliated), receiving as prior or subsequent consideration, directly or indirectly, on its own or through an affiliated,
controlled or controlling entity, foreign assets, crypto-assets or securities deposited abroad; and finally, there must be a commitment
not to enter into the detailed transactions during the 90/180 calendar days following the request for access to the MLC. Likewise, for
access to the MLC by legal entities, an additional affidavit must be submitted stating: (a) details of the individuals or legal entities
exercising a direct control relationship according to BCRA&#8217;s regulations; and (b) that on the day on which access to the MLC is
requested and in the previous 180 days, no funds in local currency or other liquid local assets (except funds in foreign currency deposited
in local financial entities) were delivered in Argentina to any individual or legal entity exercising direct control, or to other companies
making up the same economic group, except those directly associated with regular transactions for the acquisition of goods and/or services.
The requirement stated in item (b) is deemed met if an affidavit is filed regarding transactions with securities of each of these individuals
or legal entities pursuant to the current exchange regulations. Finally, on September 28, 2023, the BCRA established that sales of securities
to be settled in foreign currency in the country or abroad should not be taken into consideration when all the funds obtained from such
settlements have been or are used within 10 calendar days following certain transactions listed in BCRA regulations.</P>


<!-- Field: Page; Sequence: 55 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On its part, the BCRA extended the obligation
to submit a refinancing plan for certain debts and principal maturities scheduled up to December 31, 2023, based on the following criteria:
(i) access to the MLC for up to 40% of the principal amount, in the original term; and (ii) the refinancing of the principal balance,
with new foreign indebtedness with an average maturity of 2 years. Within the framework of this refinancing process, access to the MLC
is allowed for the early cancellation of principal, interest or debt swaps up to 45 calendar days before the maturity date, provided all
requirements set forth by the regulation have been verified. Likewise, the BCRA accepts access to the MLC for the cancellation of financial
indebtedness abroad (provided they are not related parties) during the month of December 2023 as from the payable principal or interest&#8217;s
maturity date. Access is also possible up to 3 business days before the maturity date if the payment is made by means of an exchange and/or
arbitration against a local foreign-currency account held by the customer authorized to make such payment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 56 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, in October 2022, the Integrated
System for Monitoring Imports (&#8220;SIMI&#8221;) and the Integrated System for Monitoring Foreign Payments of Services (&#8220;SIMPES&#8221;)
were replaced by the Argentine Republic&#8217;s Imports System (&#8220;SIRA&#8221;) and the Argentine Republic&#8217;s Imports and Foreign
Service Payments System (&#8220;SIRASE&#8221;), respectively. Moreover, the BCRA established that no more advance, sight or deferred payments,
or payments of commercial debts with no customs registration may be made through these new mechanisms, except for certain cases contemplated
in the regulation. Subsequently, on December 26, 2023, the SIRA and SIRASE system was abrogated and a new system, called Statistical System
for Imports (&#8220;SEDI&#8221;), was created. This system provides that: (i) the affidavit has a term of validity of 360 days from the
exit status; (ii) the analysis of the tax situation and the economic-financial capacity is performed prior to the affidavit&#8217;s formalization;
(iii) the state agencies will have 30 days to render a decision and, in the absence of a decision upon the expiration of such term, the
affidavit will automatically go to exit status; and (iv) no information or approval must be required regarding the date of access to the
MLC. Additionally, the Record of Commercial Debts for Imports with Foreign Suppliers is created for the registration of subjects having
commercial debts for goods and/or services imports with a formalization date prior to December 13, 2023. The corresponding Group&#8217;s
companies have been registered in the mentioned record.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, the BCRA introduced adjustments
to foreign exchange regulations establishing, among other provisions, access to the MLC for subjects obtaining certifications under currency
access systems for the incremental production of oil and/or natural gas pursuant to PEN Executive Order No. 277/22 (see Note 2.2.3), for
up to the amount of each certification, to be allocated to the payment of: (i) principal and interest of commercial or financial liabilities
abroad, including liabilities with non-resident affiliates, (ii) earnings and dividends for closed and audited balance sheets; and/or
(iii) the repatriation of direct investments by non-residents. RADPIP and/or RADPIGN beneficiaries must appoint a single domestic financial
entity responsible for issuing such certifications and recording the amounts recognized by the SE and the applicable period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It is worth highlighting that the detailed
information does not list all possibly applicable exchange regulations; for more information on Argentina&#8217;s exchange rate policies,
please visit the Central Bank&#8217;s website: www.bcra.gov.ar.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>2.6 Tax regulations - Main tax reforms</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Pursuant to Law No. 27,430, Law No. 27,541,
Law No. 27,630, and Law No. 27,701 several modifications were introduced in the tax treatment, the key components of which are described
below :</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.6.1 <U>Income tax</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.6.1.1 Income tax rate</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Pursuant to Law No. 27,430, the income
tax rate for Argentine companies would be gradually reduced from 35% to 30% for fiscal years beginning from January 1, 2018 to December
31, 2019, and to 25% for fiscal years beginning on or after January 1, 2020. However, Law No. 27,541 suspended the tax rate reduction
planned for fiscal year 2020, keeping the rate at 30%.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On June 16, 2021, Law No. 27,630 was
published in the BO, which modified the income tax rate effective for fiscal years starting as from January 1, 2021 inclusive. This modification
provides for the application of a tiered rate scheme and, if applicable, a fixed tax according to the accumulated net taxable income
tier: (i) for accumulated net income of up to $ 5&nbsp;million, it establishes a 25% rate; (ii) for accumulated net income between $
5 and $ 50 million, it establishes a fixed tax of $1.25&nbsp;million plus a 30% rate over the surplus of $ 5&nbsp;million; and (iii)
for accumulated net income above $ 50 million, it establishes a fixed tax of $ 14.75&nbsp;million plus a 35% rate over the surplus of
$50&nbsp;million. The accumulated net income amount is adjusted yearly, as from January 1, 2022, taking into consideration the annual
CPI variation published by the INDEC.</P>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"></P>


<!-- Field: Page; Sequence: 57 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 2</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The effect of the changes on deferred
tax corresponding to comparative periods pursuant to the above-mentioned tax reform was recognised, considering the effective rate expected
to be applicable at deferred assets and liabilities realization year, in &#8220;Effect of tax rate change in the deferred tax&#8221; under
&#8220;Income tax&#8221; of the Consolidated Statement of Comprehensive Income (Note 10.6).</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On August 16, 2022, AFIP&#8217;s General
Resolution No. 5,248/22 was published in the BO, whereby the AFIP established a one-time income tax prepayment by taxpayers and responsible
persons listed in Section 73 of Law No. 20,628, as amended, meeting the following parameters: (i) an assessed tax for the 2021 or 2022
tax period of at least $ 100 million, or (ii) taxable income, without deducting accumulated tax losses, of at least $ 300 million. The
Company and its subsidiaries paid an income tax prepayment for $ 1,863 million for the year 2022.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 4, 2023, AFIP&#8217;s General
Resolution No. 5,453/23 was published in the BO, establishing a new income tax prepayment by taxpayers and responsible persons listed
in Section 73 of Law No. 20,628, as amended, meeting the following conditions: (i) main activity of crude oil and natural gas extraction,
oil refining products manufacturing and conventional thermal energy generation; and (ii) taxable income, without deduction of prior years'
losses, in an amount equal to or exceeding $&nbsp;600 million. The Company and its subsidiaries have not been affected by this&nbsp;resolution.</P>


<!-- Field: Page; Sequence: 58 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.6.1.2 Tax on dividends</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Law No. 27,430 and modifications introduced
by Law No. 27,541 and Law No. 27,630, established a 7% tax on dividends derived from earnings accrued during fiscal years beginning as
from January 1, 2018, which be distributed by Argentine companies to individuals, undivided estates or beneficiaries residing abroad.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Dividends resulting from benefits gained
until the fiscal year prior to that beginning on January 1, 2018 will remain subject to the 35% withholding on the amount exceeding the
untaxed distributable retained earnings (equalization tax&#8217; transition period) for all beneficiaries.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>2.6.1.3 Tax inflation adjustment</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Law No. 27,430 sets out the following
rules for the application of the income tax inflation adjustment mechanism:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(i)</TD><TD STYLE="text-align: justify">a cost adjustment for goods acquired or investments made during fiscal years beginning after January 1,
2018 taking into consideration the percentage variations in the CPI published by the INDEC; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(ii)</TD><TD STYLE="text-align: justify">the application of the adjustment provided for by Title VI of the Income Tax Law when variations in the
above-mentioned index exceed 100% over the 36 months preceding the closing of the fiscal period to be settled.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Law No. 27,541 provided that, as regards
the positive or negative fiscal inflation adjustment determined as a result of the application of the adjustment provided for by Title
VI of the Income Tax Law corresponding to the first and second fiscal year starting as from January 1, 2019, one-sixth should be charged
in that fiscal period and the remaining five sixths, in equal parts, in the five immediately following fiscal periods.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 1, 2022, Law No. 27,701 was
published in the BO, which established that taxpayers determining a positive inflation adjustment in the first and second fiscal year
starting from January 1, 2022 (inclusive) may allocate one-third in that fiscal period and the remaining two-thirds, in equal parts, in
the two immediately following fiscal periods. This computation only applies to subjects making investments in the purchase, construction,
manufacture, production or final import of property, plant and equipment, except automobiles, during each of the two fiscal periods immediately
following that in which the computation of the first third of the period in question exceeds or equals $ 30,000 million.</P>


<!-- Field: Page; Sequence: 59 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of issuance of these Consolidated Financial
Statements, this provision has not yet been regulated.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company and its subsidiaries determine
and disclose the impact of the tax inflation adjustment for each of the fiscal periods in which it is applicable.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">2.6.2 <U>Value-added tax</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">A procedure is established for the reimbursement
of tax credits originated in investments in property, plant and equipment which, after 6 months as from their assessment, have not been
absorbed by tax debits generated by the activity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">2.6.3 <U>Tax
for an Inclusive and Caring Argentina (Impuesto Para una Argentina Inclusiva y Solidaria, &#8220;PAIS&#8221;) for import and foreign service
procurement transactions </U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">Executive Order
No. 377/23, dated July 24, 2023, extends the application of the PAIS tax to the acquisition of services abroad and import transactions
for certain goods, exempting goods associated with the energy sector pursuant to SE regulations. Moreover, its regulation under AFIP Resolution
No. 5,393/23, dated July 25, 2023, provided for an advance payment offsettable against the PAIS tax equivalent to 95% of the total final
tax payable for certain goods and merchandise. This advance payment should be paid by the importer when declaring the import&#8217;s intended
use. The PAIS tax&#8217;s remaining 5% balance should be paid when accessing the MLC to make the payment abroad, where the intervening
bank will act as collection and settlement agent.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 8pt; text-align: justify"><I>PAIS tax exemption for import transactions</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify">SE Resolutions No. 671/23, 714/23, 824/23 and
955/23 regulated the PAIS tax exemption for import transactions of goods associated with the energy sector.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; background-color: white">Thus, the following
import transactions are exempted from this tax:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">i)</TD><TD STYLE="text-align: justify">liquid fuels, natural gas and electricity;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">ii)</TD><TD STYLE="text-align: justify">goods destined for the construction and start-up of President N&eacute;stor Kirchner Gas Pipeline, the
reversion of the Northern Gas Pipeline and related works, and the works making up the Gas Pipeline Network&nbsp;Program;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">iii)</TD><TD STYLE="text-align: justify">goods destined for power generation works with or without foreign financing for the payment of imports;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">iv)</TD><TD STYLE="text-align: justify">goods for works and maintenance of renewable energy generation projects comprised in exhibits to the regulatory
resolutions, including PEPE II through IV, PE Arauco and PEPE VI wind farms;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 28.35pt">v)</TD><TD STYLE="text-align: justify">goods for works and maintenance of thermal and hydropower plants included in the lists attached to the
regulatory resolutions, including the Company assets.</TD></TR></TABLE>


<!-- Field: Page; Sequence: 60 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 2</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify">2.6.4 <U>Export Increase Program</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October 3, 2023, SE Resolution No. 808/23
temporarily included the products sold by the Company, among other exports, under the Export Increase Program created by PEN Executive
Order No. 576/22.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under this program, at least 75% of
the export values had to be entered into the country in foreign currency, and the remaining 25% could be settled in pesos through
the purchase of marketable securities for exports settled October 2 through 20, 2023, with an effective export date up to November
30, 2023. The Company opted into this program.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Subsequently, PEN Executive Orders No.
549/23 and No. 597/23 reduced to 70% and 50%, respectively, the minimum foreign currency settlement percentage for exports settled in
the October 23-November 17, 2023 and November 20-December 10, 2023 periods, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, PEN Executive Order No. 28/23
established a minimum income equivalent to 80% of the value of exports in foreign currency, and the remaining 20% would be settled in
pesos through the purchase of marketable securities as from December 13, 2023.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 3</U>: BASIS OF PREPARATION</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">These Consolidated Financial Statements
have been prepared in accordance with IFRS&acute; Accounting Standards issued by IASB, are expressed in million dollars and were approved
for their issuance by the Board of Directors on March 6, 2024. Significant accounting policies adopted in the preparation of these Consolidated
Financial Statements are described in Note 4, which have been consistently applied.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">This consolidated financial information
has been prepared under the historical cost convention, modified by the measurement of financial assets at fair value through profit or
loss.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">These accounting policies have been applied
consistently by all Group companies. Additionally, certain non-significant reclassifications have been made to financial statements presented
with comparative purposes to keep the consistency in the presentation with the amounts of the current year.</P>


<!-- Field: Page; Sequence: 61 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt"><U>NOTE 4</U>: ACCOUNTING POLICIES</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/116% Times New Roman, Times, Serif; margin: 0">The main accounting policies used in the preparation of these Consolidated
Financial Statements are explained below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to CNV General Resolution No. 972/23, the
early application of IFRS&acute; Accounting Standards and/or their amendments is not allowed, unless specifically allowed at the time
of adoption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">As of December 31, 2023, the Company has not opted for the early application
of IFRS&acute; Accounting Standards and/or its amendments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt">4.1
New accounting standards, amendments and interpretations issued by the IASB effective as of December 31, 2023 and adopted by the Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">The Company has applied the following standards and/or amendments
for the first time as of January 1, 2023:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 25.1pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">IFRS 17 - &#8220;Insurance Contracts&#8221; (issued in May 2017 and later amended in June 2020 and December&nbsp;2021)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 25.1pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">IAS 1 - &#8220;Presentation of financial statements&#8221; (amended in February 2021)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 25.1pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">IAS 8 &#8211; &#8220;Accounting Policies&#8221; (amended in February 2021)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 25.1pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">IAS 12 - &#8220;Income Taxes&#8221; (amended in May 2021 and May 2023)</TD></TR></TABLE>

<P STYLE="font: 10pt/116% Times New Roman, Times, Serif; margin: 12pt 0 0">The application of the detailed standards and amendments did
not have any impact on the results of the operations or the financial position of the Company.&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt">4.2
New standards, amendments and interpretations issued by the IASB not yet effective and which have not been early adopted by the Company</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">-<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;
</FONT> IFRS 16 - &#8220;Leases&#8221;: amended in September 2022. It incorporates amendments on sale and leaseback transactions. Amendments
are applicable to fiscal years starting on or after January 1, 2024, allowing for early adoption. Their application will not have a significant
impact on the Company&#8217;s operating results or financial position.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">-<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;
</FONT> IAS 1 - &#8220;Presentation of financial statements&#8221;: amended in January 2020, July 2020 and October 2022. It incorporates
amendments to the classification of liabilities as current or non-current and provides clarification on treatment to be given to liabilities
with covenants. Amendments are applicable to fiscal years starting on or after January 1, 2024, allowing for early adoption. Their application
will not have a significant impact on the Company&#8217;s operating results or financial position.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">-<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;
</FONT>IAS 7 - &#8220;Statement of Cash Flows&#8221; and IFRS 7 - &#8220;Financial instruments - disclosures&#8221;: amended in May 2023.
It incorporates disclosure requirements for information on financing agreements with suppliers to assess the effects of such agreements
on liabilities, cash flows and exposure to liquidity risk. Amendments are applicable to fiscal years starting on or after January 1, 2024,
allowing for early adoption. Their application will not have a significant impact on the Company&#8217;s operating results or financial
position.</P>


<!-- Field: Page; Sequence: 62 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">-<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;
</FONT>IAS&nbsp;21 - Effects of changes in foreign exchange rates: amended in August 2023. It incorporates the accounting treatment in
the event of lack of currency convertibility, establishing the guidelines for estimating the exchange rate to reflect the rate at which
each transaction would take place at the measurement date, with the prevailing economic conditions. Amendments are applicable to fiscal
years starting on or after January 1, 2025, allowing for early adoption. The Company is analyzing the foreign exchange context to evaluate
the lack of currency convertibility and, if applicable, the impact of its application on the Company's operating results and financial
position.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt">4.3
Effects of changes in foreign exchange rates</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.3.1 <U>Functional and presentation currency</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The information included in these Consolidated
Financial Statements is recorded in U.S. dollars, which is the Company&#8217;s functional currency, that is, the currency of the primary
economic environment where the entity operates and, in accordance with the requirements of CNV, it is presented in pesos, legal currency
in Argentina</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.3.2 <U>Foreign-currency transactions
and balances</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Foreign currency transactions are translated
into the functional currency at the exchange rates prevailing on each transaction date or valuation date, when items are remeasured. Foreign
exchange gains and losses arising on the settlement of monetary items and on translating monetary items at the closing of the fiscal year
using year-end exchange rate are recognised within the financial results in the statement of comprehensive income, with the exception
of capitalized amounts.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.3.3 <U>Group entities&#8217; translation
into functional currency</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company applies the step-by-step method
of consolidation; consequently, the financial statements of entities with a functional currency different from the U.S. dollar are first
translated into the Company&#8217;s functional currency and later into the presentation currency.</P>


<!-- Field: Page; Sequence: 63 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The results and financial position of
the Company, its subsidiaries, joint ventures and associates with the U.S. dollar as their functional currency are translated into the
presentation currency at the end of each period using the following method:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">- assets and liabilities are translated
at the year-end exchange rates;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">- income and expenses are translated at
the exchange rate in effect on the date of each transaction;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">- results from the translation of functional
into presentation currency are recognised under &#8220;Other comprehensive income.&#8221;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The results and financial position of
subsidiaries, joint ventures and associates whose functional currency is the Argentine Peso, a currency of a hyperinflationary economy,
are translated into the Company&#8217;s functional currency using the year-end exchange rate. The results generated by the application
of the IAS 29 adjustment mechanism for hyperinflationary economies on the opening equity measured in functional currency are recognized
under &#8220;Other comprehensive income&#8221;.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.3.4 <U>Presentation of Other comprehensive
income within the Company&#8217;s equity</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Until fiscal year ended December 31, 2021,
the Company presented directly under Shareholders&#8217; equity, in the retained earnings line, other comprehensive income generated by
the results&#8217; translation differences (at opening balance and for the year) of the Company and its subsidiaries, joint ventures and
associates which functional currency is the U.S. dollar.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Likewise, until the fiscal year ended
December 31, 2021, the Company disclosed directly in the retained earnings line the results generated by the application of the IAS 29
adjustment mechanism on the opening retained earnings measured in functional currency, whereas the remaining results are presented in
a separate component of equity and accumulated until the disposal of the foreign business in &#8220;Other comprehensive income,&#8221;
in accordance with IAS 21.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company is covered by CNV General
Resolution No. 941/22, as it has previously adopted a specific accounting policy regarding the currency translation of financial statements.
Therefore, as from the fiscal year ended December 31, 2022 and pursuant to such resolution, translation differences arising from reserved
earnings and unallocated results are disclosed under the items originating them.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As a result of the application of the
described policy, the translation of the functional currency into a different presentation currency does not change the way in which the
underlying items are measured, preserving the amounts, both retained earnings and equity holders, measured in the functional currency
in which they are generated.</P>


<!-- Field: Page; Sequence: 64 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt">4.4
Principles of consolidation and equity accounting</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0">4.4.1 <U>Subsidiaries</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Subsidiaries are all entities over which
the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement
with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are
fully consolidated from the date on which control is transferred to the Group. The Group ceases consolidation of entities from the date
that control ceases.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The acquisition method of accounting is
used to account for business combinations by the Group (see Note 4.4.5 below).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Intercompany transactions, balances and
unrealized gains on transactions between Group entities are eliminated. Unrealized losses are also eliminated unless the transaction provides
evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed when necessary to ensure consistency
with the policies adopted by the Group.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Non-controlling interests in the results
and equity of subsidiaries are shown separately in the Consolidated Statement of Comprehensive Income and Consolidated Statement of Changes
in Equity respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.4.2 <U>Associates </U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Associates are all entities over which
the group has significant influence but not control or joint control. This is generally the case where the Group holds between 20% and
50% of the voting rights. Investments in associates are accounted for using the equity method of accounting (see Note 4.4.4 below), after
initially being recognised at cost.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 6pt; text-align: justify">4.4.3 <U>Joint arrangements</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Investments in joint arrangements are
classified as either joint operations or joint ventures, according to IFRS 11, depending on the contractual rights and obligations of
each investor. The Company participates both joint operations and joint ventures.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><I>4.4.3.1 Joint operations</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes its direct right
to the assets, liabilities, incomes and expenses of joint operations and its share of any jointly held or incurred assets, liabilities,
incomes and expenses. These have been incorporated in the Consolidated Financial Statements under the appropriate headings.</P>


<!-- Field: Page; Sequence: 65 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><I>4.4.3.2 Joint ventures</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Interests in joint ventures are accounted
for using the equity method, after initially being recognised at cost (see Note 4.4.4 below).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 6pt; text-align: justify">4.4.4 <U>Equity Method</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under the equity method of accounting,
the investments are initially recognised at cost and adjusted to recognize the Group&#8217;s share of the post-acquisition profits or
losses and in other comprehensive income of the investee.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On acquisition of the investment, any
difference between the cost of the investment and the entity&#8217;s share of the net fair value of the investee&#8217;s identifiable
assets and liabilities is accounted for as follows: (i) goodwill relating to an associate or a joint venture is included in the carrying
amount of the investment and is not amortised, and (ii) any excess of the net fair value over the cost is included as income in the determination
of the entity&#8217;s share of the associate or joint venture&#8217;s profit or loss.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Dividends received or receivable from
associates and joint ventures are recognised as a reduction in the carrying amount of the investment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">When the Group&#8217;s share of losses
in an equity-accounted investment equals or exceeds its interest in the entity, together with any long-term interests that, in substance,
form part of the net investment, the Group does not recognize further losses, unless it has incurred obligations or made payments on behalf
of the other entity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Unrealized gains on transactions between
the Group and its associates and joint ventures are eliminated to the extent of the group&#8217;s interest in these entities. Unrealized
losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of
equity accounted investees have been changed where necessary to ensure consistency with the policies adopted by the Group.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The carrying amount of equity accounted
investments is tested for impairment in accordance with the policy described in Note 4.9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.4.5 <U>Business combinations</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The acquisition method of accounting is
used to account for all business combinations, regardless of whether equity instruments or other assets are acquired. The consideration
transferred for the acquisitions comprises:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify">the fair value of the transferred assets,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">the liabilities incurred to the former owners of the acquired business,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">the equity interests issued by the group,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD STYLE="text-align: justify">the fair value of any asset or liability resulting from a contingent consideration arrangement, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(v)</TD><TD STYLE="text-align: justify">the fair value of any pre-existing equity interest in the subsidiary.</TD></TR></TABLE>


<!-- Field: Page; Sequence: 66 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Identifiable assets acquired and liabilities
and contingent liabilities assumed in a business combination are measured initially at their fair values in the acquisition date. The
group recognises any non-controlling interest in the acquired entity on an acquisition-by-acquisition basis at the non-controlling interest&#8217;s
proportionate share of the acquired entity&#8217;s net identifiable assets.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Acquisition-related costs are expensed
as incurred. The value of the goodwill represents the excess of: i) the consideration transferred, ii) the amount of any non-controlling
interest in the acquired entity, and iii) the acquisition-date fair value of any previous equity interest in the acquired entity, over
the fair value of the net identifiable assets acquired is recorded as goodwill. If the fair value of the net identifiable assets of the
business acquired exceeds those amounts, the gain on bargain purchase is recognised directly in profit or loss.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Contingent consideration is classified
either as equity or a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value with
changes in fair value recognised in profit or loss.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If the business combination is achieved
in stages, the acquisition date carrying value of the acquirer&#8217;s previously held equity interest in the acquiree is remeasured to
fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognised in profit or loss.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Group has up to 12 months to finalize
the accounting for a business combination. Where the accounting for a business combination is not complete by the end of the year in which
the business combination occurred, the Group reports provisional amounts.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.4.6 <U>Changes in ownership interests</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Group treats transactions with non-controlling
interests that do not result in a loss of control as transactions with equity owners of the group. A change in ownership interest results
in an adjustment between the carrying amounts of the controlling and non-controlling interests to reflect their relative interests in
the subsidiary. Any difference between the amount of the adjustment to non-controlling interests and any consideration paid or received
is recognised in &#8220;Other reserves&#8221; within equity attributable to owners of the Company.</P>


<!-- Field: Page; Sequence: 67 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">When the Group ceases to consolidate or
equity account for an investment because of a loss of control, joint control or significant influence, any retained interest in the entity
is remeasured to its fair value with the change in carrying amount recognised in profit or loss. This fair value becomes the initial carrying
amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition,
any amounts previously recognised in other comprehensive income in respect of that entity are accounted for as if the Group had directly
disposed of the related assets or liabilities, this means that amounts previously recognised in other comprehensive income are reclassified
to profit or loss.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If the ownership interest in a joint venture
or an associate is reduced but joint control or significant influence is retained, only a proportionate share of the amounts previously
recognised in other comprehensive income are reclassified to profit or loss where appropriate.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt">4.5
Segment reporting</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Operating segments are reported in a manner
consistent with the internal reporting provided to the Executive committee.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Executive Committee, is the highest
decision-making authority, is the person responsible for allocating resources and setting the performance of the entity&#8217;s operating
segments and has been identified as the body executing the Company&#8217;s strategic decisions.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In segmentation the Company considers
transactions with third parties and intercompany operations, which are done on internal transfer pricing based on market prices for each
product.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt">4.6
Property, plant and equipment</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Property, Plant and Equipment is measured
following the cost model. It is recognised at acquisition cost less depreciation a less any accumulated impairment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Subsequent costs are included in the asset&#8217;s
carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with
the item will flow to the group and the cost of the item can be measured reliably. The carrying amount of any component accounted for
as a separate asset is derecognised when replaced. All other repairs and maintenance are charged to profit or loss during the reporting
period in which they are incurred.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Works in progress are valued according
to their degree of progress. The cost of work in progress whose construction will extend over time includes, if applicable, the computation
of financial costs accrued on loans granted by third parties and other pre-production costs. Revenues and costs arising from the sale
of elements obtained during the start-up process are charged to the profit and loss of the period.</P>


<!-- Field: Page; Sequence: 68 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Assets&#8217; residual values and useful
lives are reviewed, and adjusted if appropriate, at the end of each year. An asset&#8217;s carrying amount is written down immediately
to its recoverable amount if the asset's carrying amount is greater than its estimated recoverable amount.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Gains and losses on disposals are determined
by comparing the sale price with the carrying amount, stated in terms of the measuring unit current at the disposal date.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.6.1
<U>Depreciation methods and useful lives</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The group depreciates productive wells,
machinery and camps in the oil and gas production areas according to the units of production method, by applying the ratio of oil and
gas produced to estimated proved developed oil and gas reserves. The acquisition cost of property with proved reserves is depreciated
by applying the ratio of oil and gas produced to estimated proved oil and gas reserves. Acquisition costs related to properties with unproved
reserves is valued at cost with recoverability periodically assessed on the basis of geological and engineering estimates of possible
and probable reserves that are expected to be proved over the life of each concession.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Machinery and generation equipment (including
any significant identifiable component) are depreciated under the unit of production method.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The group&acute;s remaining items of property,
plant and equipment (including any significant identifiable component) are depreciated by the straight-line method based on estimated
useful lives, as detailed below:</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify; width: 50%">Buildings:&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 50%">50 years</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Vehicles:&nbsp;</TD>
    <TD STYLE="text-align: justify">3 - 5 years</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Furniture, fittings and communication equipment:&nbsp;</TD>
    <TD STYLE="text-align: justify">5 years</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Computer equipment and software:&nbsp;</TD>
    <TD STYLE="text-align: justify">3 years</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Tools:&nbsp;</TD>
    <TD STYLE="text-align: justify">10 years</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: justify">Equipment and machinery:&nbsp;</TD>
    <TD STYLE="text-align: justify">10 - 30 years</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If appropriate, the depreciation method
is reviewed and adjusted at the end of each year.</P>


<!-- Field: Page; Sequence: 69 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.6.2 <U>Asset retirement obligations
and wind turbines decommissioning</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Estimated future costs of asset retirement
obligations on well abandonment in oil and gas areas and wind turbines decommissioning in wind farms, discounted at a risk adjusted rate,
are capitalized in the cost of the assets and depreciated using the units of production method. Additionally, a liability at the estimated
value of the discounted amounts payable is recognised. Changes in the measurement of asset retirement obligations that result from changes
in the estimated timing, amount of the outflow of resources required to settle the obligation, or the discount rate, are added to, or
deducted from, the cost of the related asset. If a decrease in the liability exceeds the carrying amount of the asset, the excess is
recognised immediately in profit or loss.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>4.7 Intangible assets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.7.1
<U>Goodwill</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Goodwill is the result of the acquisition
of subsidiaries. Goodwill represents the excess of the acquisition cost over the fair value of the equity interest in the acquired entity
held by the company on the net identifiable assets acquired on the date of acquisition.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For impairment testing, goodwill acquired
in a business combination is allocated from the acquisition date to each of the CGU or group of CGU that are expected to benefit from
the synergies of the combination. Each unit or group of units that goodwill is allocated represents the lowest level within the entity
at which the goodwill is monitored for internal management purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.7.2
<U>Concession arrangements</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Concession arrangements corresponding
to hydroelectric generation plants Diamante and Nihuiles are not under the scope of the guidelines of IFRIC 12 &#8220;Service Concession
Arrangements&#8221;.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">These concession agreements meet the criteria
set forth by the IFRS&acute; Accounting Standards for capitalization less depreciation a less any accumulated impairment. They are amortized
following the straight-line method based on useful life, which corresponds to the life of each concession agreement.</P>


<!-- Field: Page; Sequence: 70 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.7.3
<U>Identified intangible assets in acquired investments</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Corresponds to intangible assets identified
in the moment of the acquisition of companies. Identified assets meet the criteria established in IFRS&acute; Accounting Standards for
capitalization less depreciation and less any accumulated impairment. They are amortized by the straight-line method according to the
useful life of each asset, considering the estimated way in which the benefits produced by the asset will be consumed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.7.4 <U>Digital Assets</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company accounts for digital assets
(cryptocurrencies) as intangible assets with indefinite useful life under the cost model. They are recognised at acquisition cost less
any accumulated impairment.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>4.8 Assets for oil and gas exploration</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company uses the successful efforts
method of accounting for its oil and gas exploration and production activities. This method involves the capitalization of: (i) the cost
of acquiring properties in oil and gas exploration and production areas; (ii) the cost of drilling and equipping exploratory wells that
result in the discovery of commercially recoverable reserves; (iii) the cost of drilling and equipping development wells, and (iv) the
estimated asset retirement obligations (see Note 4.6.2).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">According to the successful efforts method
of accounting, exploration costs (including geological and geophysical costs), excluding exploratory well costs, are expensed during the
period in which they are incurred. Drilling costs of exploratory wells are capitalized until it is determined that proved reserves exists
and they justify the commercial development. If reserves are not found, such drilling costs are expensed. Occasionally, an exploratory
well may determine the existence of oil and gas reserves but they cannot be classified as proved when drilling is complete. In those cases,
such costs continue to be capitalized insofar as the well has allowed determining the existence of sufficient reserves to warrant its
completion as a production well and the Company is making sufficient progress in evaluating the economic and operating feasibility of
the project.</P>


<!-- Field: Page; Sequence: 71 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->63<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>4.9 Impairment of non-financial long-lived
assets</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Intangible assets that have an indefinite
useful life and goodwill are not subject to amortization and are tested annually for impairment, or more frequently if events or changes
in circumstances indicate that they might be impaired.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The remaining non-financial long-lived
assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.
An impairment loss is recognised for the amount by which the asset&#8217;s carrying amount exceeds its recoverable amount. The recoverable
amount is the higher of an asset&#8217;s fair value less costs of disposal and value in use. For the purpose of assessing impairment,
assets are grouped at the lowest levels for which there are separately identifiable cash flows which are largely independent of the cash
inflows from other assets or groups of assets (CGU).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Non-financial long-lived assets, other
than goodwill, that have been impaired are reviewed for possible reversal of the impairment at the end of each reporting period.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>4.10 Financial assets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.10.1
<U>Classification</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Based on the entity&#8217;s business model
for managing the financial assets and the contractual cash flow characteristics, the Group classifies its financial assets in the following
categories:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(i)</TD><TD STYLE="text-align: justify">those that are subsequently measured at fair value through profit or loss, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt">(ii)</TD><TD STYLE="text-align: justify">those that are subsequently measured at amortised cost.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The company reclassifies financial assets
when and only when it changes its business model for managing those financial assets.</P>


<!-- Field: Page; Sequence: 72 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->64<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.10.2
<U>Recognition and derecognition</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The conventional purchases and sales of
financial assets are accounted for at settlement date. Financial assets are derecognised when contractual rights to the cash flows from
the financial assets have expired or been transferred, and the Company has substantially transferred all risks and rewards of ownership
of the asset.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0pt; text-indent: 40pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.10.3
<U>Measurement</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">At initial recognition, the Group measures
a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs
that are directly attributable to the acquisition of the financial asset.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">A gain or loss on a debt investment that
is subsequently measured at fair value and is not part of a hedging relationship is recognised in profit or loss and disclosed in &#8220;Changes
in the fair value of financial instruments&#8221; within &#8220;Other financial Results. A gain or loss on a debt investment that is subsequently
measured at amortized cost and is not part of a hedging relationship is recognised in profit or loss when the financial asset is derecognised
or impaired and through the amortization process using the effective interest rate method.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Group subsequently measures equity
investments at fair value through profit or loss. Dividends from such investments continue to be recognised in profit or loss as long
as they represent a return on investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0pt; text-indent: 40pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.10.4
<U>Impairment of financial assets</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company assesses the expected credit
losses related to its financial instruments at amortized cost and financial instruments at fair value through other comprehensive income,
if applicable.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company applies the simplified approach
allowed by IFRS 9 to measure expected credit losses for trade receivables and other receivables with similar risk characteristics. For
this purpose, receivables are grouped by business segment and based on shared credit risk characteristics and expected credit losses are
determined based on rates calculated for different ranges of default days from the due date.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The expected loss rates are based on the
sales collection profiles over a period of 24 months before the end of each year, considering historical credit losses experienced within
this period that are adjusted, if applicable, to reflect forward-looking information that could affect the ability of customers to settle
the receivables.</P>


<!-- Field: Page; Sequence: 73 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->65<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.10.5
<U>Offsetting of financial instruments</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Financial assets and liabilities are offset,
and the net amount reported in the consolidated statements of financial position, when there is a legally enforceable right to offset
the recognised amounts, and there is an intention to settle on a net basis, or realize the asset and settle the liability simultaneously.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>4.11 Trade and other receivables</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Trade receivables and other receivables
are recognised at fair value and subsequently measured at amortized cost, using the effective interest method, less provision for impairment,
if applicable.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes provisions for
impairment on trade and other receivables based on expected credit loss model described in Note 4.10.4. Trade receivables are written
off when there is no reasonable expectation of recovery. The Company considers the following default indicators: i) voluntary reorganization
proceedings, bankruptcy or initiation of judicial demands; ii) insolvency implying a high impossibility of collection and iii) past due
balances greater than 90 days.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Where applicable, provisions for impairment
on tax credits have been recognised based on estimates on their uncollectibility within their statutory limitation period, taking into
consideration the Company&#8217;s current business plans.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>4.12 Derivative financial instruments
and hedging account</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Derivative financial instruments are measured
at fair value, determined as the amount of cash to be collected or paid to settle the instrument as of the measurement date, net of any
prepayment collected or paid. Fair value of derivative financial instruments traded in active markets is disclosed based on their quoted
market prices and fair value of instruments that are not traded in active markets is determined using different valuation techniques.
Subsequent accounting of changes in fair value depends on whether the derivative is designated as a hedging instrument and, if so, the
nature of the item being hedged.</P>


<!-- Field: Page; Sequence: 74 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company has not formally designated
financial instruments as hedging instruments.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>4.13 Inventories</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">This line item includes crude oil stock,
raw materials, work in progress and finished products relating to Petrochemicals and Oil and Gas business segments as well as materials
and spare parts relating to the Generation business segment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Inventories are stated at the lower of
cost or net realizable value. Cost is determined using the weighted average price method. The cost of inventories includes expenditure
incurred in purchases and production and other necessary costs to bring them to their existing location and condition. In case of manufactured
products and production in process, the cost includes a portion of indirect production costs, excluding any idle capacity (slack).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The net realizable value is the estimated
selling price in the ordinary course of business less the estimated cost of completion and the estimated costs to make the sale.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The assessment of the recoverable value
of these assets is made at each reporting date, and the resulting loss is recognised in the statement of income when the inventories are
overstated.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company has classified materials and
spare parts into current and non-current, depending on the timing in which they are expected to be used for replacement or improvement
on existing assets. The portion of materials and spare parts for maintenance or improvements on existing assets, is exposed under the
heading &#8220;Property, plant and equipment&#8221;.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>4.14 Non-current assets (or disposal
group) held for sale and discontinued operations</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Non-current assets are classified as held
for sale if it is considered highly probable that their amount will be recovered through a sale transaction. They are measured at the
lower of their carrying amount and fair value less costs to sell, except deferred tax assets, assets arising from employee benefits, financial
assets and investment property that are carried at fair value and contractual rights from insurance contracts, which are specifically
exempt from this requirement.</P>


<!-- Field: Page; Sequence: 75 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->67<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Non-current assets (including those that
are part of a disposal group) are not depreciated or amortized while they are classified as held for sale. Interest and other expenses
attributable to the liabilities of a disposal group classified as held for sale continue to be recognised.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Non-current assets or group of assets
classified as held for sale are presented separately from the other assets in the balance sheet. The liabilities of a disposal group classified
as held for sale are presented separately from other liabilities in the balance sheet. These assets and liabilities are not offset.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If it is a discontinued operation, that
is, an item which has been disposed of or classified as held for sale; and (i) it represents a significant business line or geographic
area which may be considered separate from the rest; (ii) it is part of a single coordinated plan to dispose of a significant business
line or operating geographic area which may be deemed separate from the rest; or (iii) it is a subsidiary entity acquired solely for the
purpose of reselling it; a single amount is disclosed in the statement of comprehensive income, which shows results of discontinued operations,
net of tax, including the result for the valuation at fair value less cost of sales or asset disposal costs, if applicable.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>4.15 Cash and cash equivalents</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For the purpose of presentation in the
Consolidated Statement of Cash Flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions,
other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts
of cash and which are subject to an insignificant risk of changes in value. If any, bank overdrafts are shown within borrowings in current
liabilities, this means, there are not disclosed under Cash and cash equivalents in the Consolidated Statement of Cash Flows since they
are not part of the Company&#8217;s cash management.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>4.16 Shareholder&acute;s equity</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Equity&#8217;s movements accounted for
in accordance with the pertinent decisions of shareholders' meetings and legal or regulatory standards.</P>


<!-- Field: Page; Sequence: 76 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->68<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">All equity accounts have been restated
in terms of the measuring unit current as of December 31, 2018, with the exception of Share capital and Treasury shares, which represent
the subscribed and paid in, and the outstanding treasury capital, respectively. The adjustment resulting from its restatement as of December
31, 2018 is disclosed in the Comprehensive share capital adjustment and Comprehensive treasury shares adjustment lines, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As from the change in functional currency,
on January 1, 2019 the Company discontinued the preparation and presentation of financial statements under IAS 29, and has considered
equity figures expressed in terms of the measuring unit current as of December 31, 2018 as the basis for subsequent financial statements&#8217;
amounts.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.16.1
<U>Share capital</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Share capital represents the capital issued,
composed of the contributions that were committed and/or made by the shareholders and represented by shares that comprise outstanding
shares at nominal value.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 31.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.16.2
<U>Share premium</U></P>

<P STYLE="font: 10pt/116% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It includes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(i)</TD><TD STYLE="text-align: justify">The portion of the collected price exceeding the face value of the shares issued by the Company, net of
absorbed accumulated losses.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(ii)</TD><TD STYLE="text-align: justify">The difference between the fair value of the consideration paid/collected and the accounting value of
the equity interest in the subsidiary acquired/sold/diluted which does not represent a loss of control or significant influence.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">(iii)</TD><TD STYLE="text-align: justify">The difference between the proportional equity value registered before the merger of the subsidiary and
the value resulting from applying to the subsidiary&#8217;s merged equity interest, the new ownership share resulting from the exchange
relationship.</TD></TR></TABLE>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.16.3
<U>Legal reserve</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Pursuant to the LGS, the calculation of
the legal reserve considers 5% of the profits arising from the total results of the fiscal year, adjustments to prior fiscal years, the
amounts carried forward from other comprehensive income to retained earnings, translation differences transferred to retained earnings
under the policy described in Note 4.3.4, and retained losses from previous fiscal years; the resulting amount will be allocated to the
legal reserve until reaching 20% of the share capital plus the capital adjustment account balance and the translation differences originated
in the share capital and share capital adjustment account. If this reserve&#8217;s amount is reduced for any reason, dividends may not
be distributed until such amount is paid, considering the translation differences transferred to the legal reserve as of the restructuring
date.</P>


<!-- Field: Page; Sequence: 77 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->69<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.16.4
<U>Voluntary reserve</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It corresponds to reserved earnings under
the allocation made by the Shareholders&#8217; Meeting, whereby a specific amount is set aside to cover for projects&#8217; funding needs
and any possible situations that may arise regarding Company policies and translation differences appropriated to the voluntary reserve
in accordance with the policy described in Note 4.3.4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.16.5
<U>Other reserves</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It includes the result of operations with
non-controlling interest that do not result in a loss of control and reserves for stock compensation plans.</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.16.6
<U>Retained earnings</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">They comprise accumulated profits or losses
without a specific appropriation; positive earnings can be distributable by the decision of the Shareholders&#8217; meeting as long as
they are not subject to legal and/or contractual restrictions. They comprise the results for the fiscal year, prior years&#8217; undistributed
retained earnings, amounts transferred from other comprehensive income, prior years&#8217; adjustments by application of IFRS, and translation
differences appropriated to retained earnings under the policy described in Note 4.3.4.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">General Resolution No. 593/11 issued by
the CNV provided that Shareholders in the Meetings at which they should decide upon the approval of financial statements in which the
Retained earnings account has a positive balance, should adopt an express resolution as to the allocation of such balance, whether to
dividend distribution, capitalization, setting up of reserves or a combination of these. The Company&#8217;s Shareholders have complied
with these requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.16.7
<U>Other comprehensive income</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It comprises translation differences other
than those resulting from reserved earnings and unallocated results that are transferred to the items originating them pursuant to the
policy described in Note 4.3.4, and actuarial gains and losses for defined benefit plans and their corresponding tax effects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.16.8
<U>Dividends distribution</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Dividend distribution to Company shareholders
is recognised as a liability in the year in which the dividends are approved by the Shareholders' Meeting. The distribution of dividends
is made based on the Company&#8217;s Stand-Alone Financial Statements.</P>


<!-- Field: Page; Sequence: 78 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->70<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>4.17 Compensation plans</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following guidelines under IFRS 2
have been taken into consideration for the registration of stock-based compensations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.17.1
<U>Compensations payable in cash</U>:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Compensation Agreements &#8211; Senior
Management: fixed compensation and annual, variable and contingent long-term compensation established based on the Company&#8217;s annual
market value appreciation, with a payment cap calculated over the Company&#8217;s adjusted operating income. Any analogous compensation
paid to senior managers is deducted from the compensation amount.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The reasonable value of the received services
is measured through a share appreciation estimate using the Black-Scholes-Merton financial valuation model. The fair value of the amount
payable is accrued and acknowledged as an expense, with the corresponding increase in liabilities. Liabilities are revalued on each balance
sheet date. Any change in the fair value of liabilities is disclosed under profit or loss.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.17.2
<U>Compensations payable in shares</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Stock compensation plan by which certain
officers and other key staff receive a certain number of the Company&#8217;s shares. The Company&#8217;s Board of Directors approves the
market acquisition of own shares as a means of implementing the Plan (see Note 13.1.2).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The number of shares for each eligible
employee is calculated as from a percentage over the total annual remuneration, including the bonus, divided by the weighted average price,
in pesos, of the Company&#8217;s share and ADR for the same period; with one-third vesting each year, which will be awarded together with
the payroll for April of the year following the vesting date, with the requirement that the employment relationship continues at least
until each vesting date. The fair value of the received services is measured at the fair value of the shares at the time of granting and
is disclosed during the vesting period, together with the corresponding increase in equity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>4.18 Trade payables and other payables</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Trade payables and other payables are
recognised initially at fair value and subsequently measured at amortized cost using the effective interest method.</P>


<!-- Field: Page; Sequence: 79 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->71<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: bold 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.19
Borrowings</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Borrowings are recognised initially at
fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortized cost. Any difference between the proceeds
(net of transaction costs) and the redemption amount is recognised in profit or loss over the period of the borrowings, using the effective
interest method.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Borrowings are removed from the statement
of financial position when the obligation specified in the contract is discharged, canceled or expired. The difference between the carrying
amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash
assets transferred or liabilities assumed, is recognised in profit or loss as other income or finance costs.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If a debt contract is amended or swapped,
the Company records the cancellation of the original liability and discloses a new financial liability if the new conditions are substantially
different from the original ones.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Borrowings are classified as current liabilities
unless the group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.19.1
<U>Borrowing costs</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">General and specific borrowing costs that
are directly attributable to the acquisition, construction or assembly of a qualifying asset are capitalized during the period of time
that is required to complete and prepare the asset for its intended use. Qualifying assets are assets that necessarily take a substantial
period of time to get ready for their intended use.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Investment income earned on the temporary
investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Other borrowing costs are recorded in
profit or loss for the period in which they are incurred.</P>

<P STYLE="font: bold 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.20
Employee benefits</P>

<P STYLE="font: bold 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.20.1
<U>Short-term obligations</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Payroll liabilities, including non-monetary
benefits and accumulated sick leave expected to be settled in full within 12 months after the end of the reporting period in which the
employees provide the associated service are recognised for the amount expected to be paid when the liabilities are settled. The liabilities
are disclosed as Salaries and social security payable in the consolidated statement of financial position.</P>


<!-- Field: Page; Sequence: 80 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->72<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.20.2
<U>Defined benefit plans</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Labor costs liabilities are accrued in
the periods in which the employees provide the services that trigger the consideration.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, the Company operates several
defined benefit plans. Defined benefit plans define an amount of pension benefit that an employee will receive on retirement, depending
on one or more factors, such as age, years of service and compensation. In accordance with conditions established in each plan, the benefit
may consist in a single payment, or in making complementary payments to those made by the pension system.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The defined benefit liability recognised
in the financial statement balance sheet, at the end of the reporting period, is the present value of the defined benefit obligation net
of the fair value of the plan assets, when applicable. The defined benefit obligation is calculated annually by independent actuaries
using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated
future cash outflows using future actuarial assumptions about demographic and financial variables that affect the determination of the
amount of such benefits.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Actuarial gains and losses from experience
adjustments and changes in actuarial assumptions, are recognised in other comprehensive income (loss) in the period in which they arise
and past service costs are recognised immediately in the statement of income (loss).</P>

<P STYLE="font: bold 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.21
Provisions, contingent liabilities and contingent assets</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Provisions are recognised when the group
has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required
to settle that obligation, and the amount can be reliably estimated. Provisions are not recognised for future operating losses.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Provisions are measured at the present
value of the expenditures expected to be required to settle the present obligation, taking into account the best available information
as of the date of the Consolidated Financial Statements based on assumptions and methods considered appropriate and taking into account
the opinion of Company&#8217;s legal advisors. As additional information becomes available to the Company, estimates are revised and adjusted
periodically. The discount rate used to determine the present value reflects current market assessments of the time value of money and
the risks specific to the liability, as of the date of the financial statements. The increase in the provision due to the passage of time
is recognised within other financial results.</P>


<!-- Field: Page; Sequence: 81 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->73<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Contingent liabilities are possible obligations
that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of uncertain future events
not wholly within the control of the entity; or present obligations that arise from past events but it is not probable that an outflow
of resources will be required to its settlement; or whose amount cannot be measured with sufficient reliability.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Contingent liabilities are not recognised.
The Company discloses in notes to the Consolidated Financial Statements a brief description of the nature of material contingent liabilities.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Contingent liabilities, whose possibility
of any outflow in settlement is remote, are not disclosed unless they involve guarantees, in which case the nature of the guarantee is
disclosed.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Contingent assets are possible assets
that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of uncertain future events
not wholly within the control of the entity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Contingent assets are not recognised.
The Company discloses in notes to the Consolidated Financial Statements a brief description of the nature of material contingent assets,
where the related inflows of economic benefits are estimated to be probable.</P>

<P STYLE="font: bold 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.22
Revenue from contracts with customers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.22.1
<U>Generation segment</U>:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>4.22.1.1 Revenues from sales to the
spot market (SE Resolution N&deg;869/23) </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes revenues from i)
power availability on a monthly basis as the different power plants are available to generate; ii) power generated, operated energy and
power generated in peak hours, when the delivery of energy is effective, based on the price applicable depending on the technology of
each plant. Revenues are not adjusted for the effect of financing components as sales are made with an average credit term of 42 days,
which is consistent with market practice.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>4.22.1.2 Revenues from supply agreements
with CAMMESA (SE Resolution No. 220/07, SE Resolution No. 21/16, SE Resolution No. 287/17 and Renovar Programs)</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recognizes revenues from supply contracts
with CAMMESA for i) power availability, when applicable, on a monthly basis, as the different power plants are available to generate and
ii) energy generated when the delivery of energy is effective, based on the price established in each contract. Revenues are not adjusted
for the effect of financing components as sales are made with an average credit term of 42 days, which is consistent with market practice.</P>


<!-- Field: Page; Sequence: 82 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->74<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>4.22.1.3 Revenues from sales contracts
with large users within the MAT</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes revenues from energy
plus sales and renewable energy when the delivery of energy is effective based on the price established in each contract. Revenues are
not adjusted for the effect of financing components as sales are made with an average credit term of 30 days, which is consistent with
market practice.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.22.2
<U>Oil and gas segment</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes revenues from the
sale of oil and gas, to third parties and intersegment, when control of the product is transferred, that is, at the output of each area,
when the oil and gas is delivered to the carrier and to the extent there is no unfulfilled obligation that could affect the acceptance
of the product by the client. In all cases the transport of the gas is in charge of the client. Revenues from these sales are recognised
based on the price by product specified in each contract or agreement to the extent that it is highly probable that a significant reversal
will not occur.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Revenues are not adjusted for the effect
of financing components as sales are made with an average credit term not exceeding 45 days, which is consistent with market practice.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.22.3 <U>Petrochemical segment</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes revenues from the
sale of petrochemical products, whether in local or foreign markets, when the control of the product is transferred, that is, when the
products are delivered to the client and there is no unfulfilled obligation that could affect the acceptance of the product by the client.
The delivery, as established in each contract, is occurs:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">(i)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">when the products are dispatched and transported by and in charge of the client, or,</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">(ii)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">when the products have been dispatched by the Company to a specific location, the obsolescence
risks and loss have been transferred to the client, and the client has accepted the products according to the sale contract, the acceptance
provisions have expired, or when the Company has objective evidence that all acceptance criteria have been met.</TD>
</TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Revenues from these sales are recognised
based on the price specified in each contract, to the extent that it is highly probable that a significant reversal will not occur. Revenues
are not adjusted for the effect of financing components as sales are made with an average credit term not exceeding 34 days, which is
consistent with market practice.</P>


<!-- Field: Page; Sequence: 83 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->75<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.22.4 <U>Holding and others segment</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes revenues from contracts
with customers in relation to advisory services to related companies as services are rendered based on the price established in each agreement.
Revenues are not adjusted for the effect of financing components, as sales are made with an average credit term of 30 days, which is consistent
with market practice.</P>

<P STYLE="font: bold 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.23 Other Income&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.23.1
<U>Government grants</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Grants from the government are recognised
at their fair value where there is a reasonable assurance that the grant will be received and the Group will comply with all attached
conditions. The group did not benefit directly from any other forms of government assistance.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes revenues from natural
gas production promotion or stimulus programs upon the actual delivery of gas and in accordance with the price established in the applicable
regulation, only inasmuch as it is highly probable that there will be no significant reversal and the consideration is likely to be received,
that is, to the extent that the procedure established by the Government is formally complied with.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The recognition of revenues associated
with Natural Gas Production Promotion or Stimulus Plans (see Note 2.2.4.1) falls within the scope of IAS 20 as it involves a compensation
as a result of the maintenance or increase in the committed production volume.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Revenues from natural gas production or
stimulus programs are disclosed under other operating income in the consolidated statement of comprehensive income. Furthermore, the fiscal
costs of the above-mentioned programs are disclosed under Other operating expenses in the consolidated statement of comprehensive income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.23.2
<U>Interest</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Interest income from financial assets
at fair value through profit or loss is included into the result of changes in the fair value of those assets. Interest income from financial
assets at amortized are recognised in the statement of income.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Interest income is calculated by using
the effective interest rate to the gross carrying amount of a financial asset (without considering impairment provision), except for impaired
financial assets, that is calculated by applying the effective interest rate to the carrying amount net of impairment provision.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Commercial interest corresponding to late
payment surcharges in the cancellation of sales receivables is disclosed under Other operating income as it provides relevant information
on the business&#8217; operations and operating flows.</P>


<!-- Field: Page; Sequence: 84 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->76<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">4.23.3
<U>Dividends</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Dividends income are received from financial
assets measured at fair value through profit or loss. Dividends are recognised as revenue when the right to receive payment has been established.
This applies even if they are paid out of pre-acquisition profits.</P>

<P STYLE="font: bold 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.24
Income tax</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The tax expenses for the year include
current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other
comprehensive income or directly in equity, in which case, the tax is also recognised in other comprehensive income or directly in equity,
respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The current income tax charge is calculated
on the basis of the tax laws enacted or substantively enacted at the balance sheet. Management periodically evaluates positions taken
in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions,
where appropriate, on the basis of amounts expected to be paid to the tax authorities.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Deferred income tax is recognised, using
the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts in the Consolidated
Financial Statements. However, deferred tax liabilities are not recognised if they come from the initial recognition of goodwill; or if
it arises from initial recognition of an asset or liability in a transaction other than a business combination that at time of the transaction
affects neither accounting nor taxable profit or loss, and does not give rise to equal taxable and deductible temporary differences.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Deferred income tax assets are recognised
only to the extent that it is probable that future taxable profit will be available and can be used against temporary differences.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Deferred income tax is provided on temporary
differences from investments in subsidiaries, joint ventures and associates, except for deferred income tax liability where the timing
of the reversal of the temporary difference is controlled by the group and it is probable that the temporary difference will not reverse
in the foreseeable future.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Deferred assets or liabilities are recognised
on account of gains or losses from fiscal tax inflation which, pursuant to Law No. 27,541 and Law No 27,701, are deferred and accounted
for in subsequent fiscal periods (see Note 2.6.1).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Deferred income tax assets and liabilities
are offset when there is a legally enforceable right to offset the recognised amounts and when the deferred income tax assets and liabilities
relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities where there
is an intention to settle the balances on a net basis.</P>


<!-- Field: Page; Sequence: 85 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->77<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Current and deferred tax assets and liabilities
have not been discounted and are stated at their nominal value.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Income tax rates prevailing at year-end
in Argentina (see Note 2.6.1), Ecuador, Bolivia and Uruguay are 35%, 25%, 25% and 25%, respectively. Additionally, a 3% surcharge is added
to Ecuador&#8217;s income tax when the company&#8217;s shareholder residing in Ecuador is an entity established in a jurisdiction considered
a tax haven under Ecuadorian laws.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In Bolivia, payment of Bolivian-source
income to beneficiaries outside Bolivia is levied with a 12.5% withholding income tax.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Furthermore, and pursuant to the last
tax reform passed in Ecuador and effective as from January 1, 2020, dividends distributed to foreign shareholders will be subject to a
10% withholding.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In Uruguay, effective from January 1,
2023, the Income Tax on Economic Activities (&#8220;IRAE&#8221;) includes as Uruguayan-source certain passive income derived by entities
making up non-qualified multinational groups.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Deferred tax assets and liabilities are
measured using the tax rates expected to apply in the period when the asset is realized or the liability is settled.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, receivables have been disclosed
on account of the application of the minimum presumed income tax prior to its abrogation as from January 1, 2019, which are computable
as an advance payment of income tax in any of the following ten years.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s management evaluates
the recoverability of the recorded receivables at the closing of each fiscal year, and allowances are created as long as it is estimated
that the computable amounts will not be recoverable within the statutory limitation period taking into consideration the Company&#8217;s
current business plans.</P>

<P STYLE="font: bold 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">4.25
Leases</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In leases where the Company is a lessee
(Note 19.1), a right-of-use asset and a lease liability are recognised on the date on which the underlying asset is available for use
by the Company.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">At the commencement date the lease liability
is measured at the present value of the payments that are not paid at that date, including:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">fixed payments, less any lease incentive receivable</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">variable lease payments depending on an index or rate</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">amounts that the Company expects to pay under residual value guarantee</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">exercise price of a purchase option (if it is reasonably certain to exercise that option), and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">penalty payments for terminating the lease (if that option will be exercised).</TD></TR></TABLE>


<!-- Field: Page; Sequence: 86 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->78<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 4</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Lease payments are discounted using the
Company&#8217;s incremental borrowing rate, which is the rate the Company would have to pay to borrow over a similar term, security and
conditions, the funds necessary to acquire an asset of a similar value to the right-of-use asset in a similar economic environment, or
by using the interest rate implicit in the lease, if that rate can be readily determined.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The lease liability is disclosed in &#8220;Trade
and other payables&#8221;. Each lease payment is apportioned between the principal and the financial cost. The financial cost is charged
to income over the term of the lease to produce a constant periodic interest rate on the remaining liability balance for each period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Right-of-use assets are measured at cost,
which comprises:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">the amount of the initial measurement of the lease liability</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">any lease payment made at or before the commencement date, less any lease incentive received</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">any initial direct cost, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">an estimate of costs to be incurred for decommissioning or restoring the underlying asset pursuant to
the terms and conditions of the lease</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">Right-of-use assets are depreciated using the straight-line method over the asset&#8217;s useful life
or, if shorter, during the lease term.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company recognizes lease payments
associated with short-term leases (up to 12 months) and leases for which the underlying asset is of low value (IT equipment and office
supplies) as an expense using the straight-line method over the lease term.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Leases in which the Company, as a lessor,
has transferred all risks and rewards incidental to ownership of the underlying asset are classified as financial leases (Note 19.2.1).
Financial leases are recognised at the commencement date at the fair value of the leased property or, if lower, the present value of the
minimum lease payments to be received. The corresponding lease rights, net of financial charges, are included in &#8220;Trade and other
receivables&#8221;. Each lease payment received is allocated between income receivable and financial income. Financial income is recognised
as a profit over the term of the lease to produce a constant periodic interest rate on the remaining liability balance for each period.
Property under financial leases is derecognised if there is reasonable certainty that the Company will transfer its ownership at the end
of the lease term.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Leases in which the Company does not transfer
a significant part of the risks and rewards incidental to ownership of the underlying asset are classified as operating leases. Revenues
from associated leases are recognized in income using the straight-line method over the term of the lease (Note 19.2.2). The corresponding
leased assets are included in the Consolidated Statement of Financial Position depending on their nature.</P>


<!-- Field: Page; Sequence: 87 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->79<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: GROUP STRUCTURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">5.1
Corporate reorganization</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 6 and 11, 2023, the Boards
of Directors of CISA, the Company and GASA, respectively, resolved to instruct their respective managements to analyze a reorganization
process under the terms of Section 82 and subsequent sections of the LGS and tax neutrality under Sections 80 and subsequent articles
of the Income Tax Law (as amended in 2019), and, if appropriate, draw up the preparatory documentation for the spin-off of CISA&#8217;s
equity and the subsequent merger through absorption of a part of its spun-off equity with Pampa and the other part of its spun-off equity
with GASA.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The above-mentioned process, which reorganization
effective date is scheduled for January 1, 2024, will derive benefits for the involved companies and for the entire economic group, since
it will allow for improved resource efficiency in financial information management and reduced costs for legal and tax advisory fees.</P>

<P STYLE="font: bold 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">5.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Acquisition and sale of equity interests</P>

<P STYLE="font: bold 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><FONT STYLE="font-weight: normal">5.2.1
<U>Sale of equity interests of controlling stake in Edenor</U></FONT></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 28, 2020, the Company entered
into with Empresa de Energ&iacute;a del Cono Sur S.A. and Integra Capital S.A., Daniel Eduardo Vila, Mauricio Filiberti and Jos&eacute;
Luis Manzano (the &#8220;Purchaser&#8221;) a share purchase agreement whereby it agreed to sell its controlling interest in Edenor through
the transfer of all Class A shares representing 51% of the capital stock and voting rights of said company (the &#8220;Transaction&#8221;).
On February 17, 2021, Pampa&#8217;s shareholders meeting was held and the Transaction was approved.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On June 24, 2021, the ENRE approved the
Transaction through Resolution No. 207/21, whereas, after meeting the precedent conditions, the transaction closing took place on June
30, 2021, with the transfer of shares and the change of controlling shareholder.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The agreed sales price consisted of: 21,876,856
Class B shares of Edenor, representing 2.41% of Edenor&#8217;s capital stock and voting rights, transferred upon the execution of the
share purchase agreement; and US$ 95 million in cash, which was paid in 3 installments: (i) US$ 5 million upon the execution of the share
purchase agreement; (ii) US$ 50 million on the closing date; and US$ 40 million, plus interest at a 10% fixed nominal annual rate (payable
quarterly), between June and July 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The results corresponding to the Distribution
of energy segment prior to the closing of the transaction were disclosed under &#8220;Discontinued operations&#8221; of the Consolidated
Statement of Comprehensive Income in the fiscal year ended December 31, 2021.</P>


<!-- Field: Page; Sequence: 88 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->80<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">The statement of comprehensive income associated with the discontinued
operations is disclosed below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white; width: 77%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 21%">Distribution of energy</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center">12.31.2021</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Revenue</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">47,148</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Cost of sales</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(38,054)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">Gross profit</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">9,094</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Selling expenses</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,482)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Administrative expenses</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,532)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Other operating income</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">2,053</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Other operating expenses</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,672)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Reversal of property, plant and equipment impairment</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,572</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Impairment of financial assets</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,057)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">Operating income&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">3,976</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Gain on monetary position, net</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">11,474</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Financial income</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">22</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Financial costs</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(10,194)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Other financial results</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">784</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Financial results, net</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">2,086</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Profit before income tax</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; text-align: right">6,062</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Income tax</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(13,191)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Loss of the year from discontinued operations</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(7,129)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Other comprehensive income</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: middle; text-align: left; background-color: white">Items that will not be reclassified to profit or loss</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Exchange differences on translation</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8,484</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: middle; text-align: left; background-color: white">Items that may be reclassified to profit or loss</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Exchange differences on translation <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,891</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Other comprehensive income of the year from discontinued operations</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right">11,375</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">Total comprehensive income (loss) of the year from discontinued operations</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">4,246</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Loss of the year from discontinued operations attributable to:</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Owners of the company</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3,726)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Non-controlling interest</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,403)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(7,129)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Total comprehensive income of the year from discontinued operations attributable to:</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Owners of the company</TD>
    <TD STYLE="color: white; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">530</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Non-controlling interest</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,716</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">4,246</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">Corresponds to the reclassification adjustment for exchange differences losses
included in profit or loss on Edenor disposal. No exchange differences losses on translation were reconized during 2021. </FONT></TD></TR></TABLE>


<!-- Field: Page; Sequence: 89 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->81<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The consolidated statement of cash flows related
to discontinued operations as of December 21, 2021 is presented below:</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 70%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 23%">Distribution of energy</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center">12.31.2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Net cash generated by operating activities</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">11,051</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Net cash used in investing activities</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(15,857)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Net cash used in financing activities</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(701)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Decrease in cash and cash equivalents from discontinued operations</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(5,507)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Cash and cash equivalents at the beginning of the year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4,362</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Effect of devaluation and inflation on cash and cash equivalents</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">1,145</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Decrease in cash and cash equivalents</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(5,507)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Cash and cash equivalents at the end of the year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">-</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: bold 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><FONT STYLE="font-weight: normal">5.2.2
<U>Sale of equity interests in Refinor</U></FONT></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On September 15, 2022, the Company entered
into an agreement with Hidrocarburos del Norte S.A. for the sale of its Class A shares representing 28.5% of Refinor&#8217;s capital stock
for a price of US$ 5.7 million, subject to the fulfillment of certain precedent conditions.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of September 30, 2022, in accordance
with IFRS 5 and since the transaction price was below the carrying amount, the Company recognised impairment losses, before taxes, for
$ 1,242 million (US$ 11 million), which are disclosed under &#8220;Share of profit from associates and joint ventures&#8221;.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On October 14, 2022, once conditions precedent
had been met, the Company transferred the above-mentioned shares. Later, the parties entered into an amendment to the agreement stipulating
the payment of the price balance as follows: (i) US$ 1.4 million on the amendment&#8217;s effective date, that is, December 22, 2023;
and (ii) US$ 2.6 million in 4 consecutive semi-annual installments of US$ 0.65 million, the first one payable 6 months as from the amendment&#8217;s
effective date.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of the date of issuance of these Consolidated
Financial Statements, the Company has collected US$ 3.1 million, and the amount of US$&nbsp;2.6 million is pending collection, to be financed
over two years at an annual 8% nominal fixed interest rate in accordance with the terms of the amendment.</P>


<!-- Field: Page; Sequence: 90 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->82<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: bold 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><FONT STYLE="font-weight: normal">5.2.3
<U>Acquisition of an additional 50% interest in Greenwind</U></FONT></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On August 12, 2022, Vientos Solutions
L.L.C., Rio River Capital L.L.C and the Group entered into a share acquisition agreement whereby it acquired, for the amount of US$ 20.5
million, the whole equity interest in VS SLU, a Spanish company which main asset is its 50% interest in Greenwind&#8217;s capital stock.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On the acquisition date, the Company recorded
profits of $ 3,120.7 million (US$ 23.3 million) to reflect the fair value of the 50% stake in Greenwind prior to the aforementioned acquisition,
as this transaction is a business combination achieved in stages.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table details the fair value
of the consideration transferred and the fair values of the assets acquired and the liabilities assumed as of August 12, 2022:</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify; width: 59%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 19%">In million of US$</TD>
    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 19%">In million of $</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Consideration transferred&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(20.5)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2,752.5)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Fair value of the previous interest in Greenwind</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(20.4)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(2,752.5)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: justify">Total</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(40.9)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(5,505.0)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Property, plant and equipment <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right">127.7</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">17,170.4</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Intangible assets - Customer contract <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right">31.6</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,242.1</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Financial assets at fair value</TD>
    <TD STYLE="vertical-align: middle; text-align: right">24.4</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,244.6</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Trade receivables <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right">6.3</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">843.4</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Other assets&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">0.1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">11.2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Cash and cash equivalents</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3.1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">414.7</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Borrowings&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(89.3)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(11,983.9)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Deferred tax liabilities</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(54.3)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(7,294.7)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Income tax liabilities</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(4.4)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(589.5)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Trade and other payables</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2.0)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(261.8)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Provisions&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1.4)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(177.3)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Tax liabilities</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(0.9)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(114.2)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: justify">Total acquisition price allocation <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(4)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">40.9</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">5,505.0</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/115% Arial Unicode MS; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-weight: normal"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Mario Cebreiro Wind Farm&#8217;s fair value was assessed using the &#8220;cost-based
approach,&#8221; which consists of the farm&#8217;s replacement cost new, adjusted by its loss of value resulting from physical deterioration
and functional and economic obsolescence.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/115% Arial Unicode MS; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-weight: normal"><SUP>(2)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">The fair value of this intangible asset regarding the identified business
transactions has been determined through the application of the &#8220;income-based approach&#8221; and the &#8220;multi-period excess
earnings&#8221; method. Key assumptions used considered: i) projected generation level; and ii) discount rate. The useful life was assessed
based on the remaining years of the contract.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/115% Arial Unicode MS; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-weight: normal"><SUP>(3)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">For acquired trade receivables, contractual value does not differ from
fair value.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/115% Arial Unicode MS; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-weight: normal"><SUP>(4)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">No differences in the acquired assets&#8217; accounting valuation were
identified, except for the values detailed under Property, plant and equipment and Intangible assets.</FONT></TD></TR></TABLE>


<!-- Field: Page; Sequence: 91 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->83<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Expenses related to the acquisition transaction
were non-significant, and were recognized as expenses in fiscal year result.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The acquisition contributed to the Group
revenues from sales for $ 1,788.6 (US$ 11.3 million) and net earnings for $ 533.2 million (US$ 3.5 million) for the August 12 - December
31, 2022 period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If the acquisition had taken place on
January 1, 2022, the consolidated revenues from sales and the results for the period as of December 31, 2022 would have been $ 243,972
million (US$ 1,844 million) and $ 65,118 million (US$ 459 million), respectively. The pro forma information was calculated based on the
Company and Greenwind&#8217;s results.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company paid $ 2,752.5 million (US$
20.5 million) for the acquisition of the additional equity interest which, net of the cash and cash equivalents balance of $ 414.7 million
(US$ 3.1 million), results in a net cash flow of $ 2,337.8 million (US$ 17.4 million), which is disclosed in the consolidated statement
of cash flows in the item &#8220;Payment for the acquisition of subsidiaries and associates&#8221; under investment activities.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><FONT STYLE="font-weight: normal">5.2.4
<U>Acquisition of Autotrol Renovables S.A.</U></FONT></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On September 30, 2022, the Company acquired
100% of the capital stock of Autotrol Renovables S.A., an entity holder of the &#8220;Wayra I Wind Farm&#8221; project (registered with
the National Renewable Energy Projects Registry, &#8220;RENPER&#8221;) for a price of $ 7.3 million (US$ 50 thousand).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><FONT STYLE="font-weight: normal">5.2.5
<U>Acquisition of VAR</U></FONT></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 12, 2022, Parque E&oacute;lico
Arauco S.A.P.E.M. (&#8220;PEA&#8221;) and the Company executed an agreement to acquire 100% of VAR&#8217;s capital stock. This company
is exclusively engaged in electric power generation in the domestic market through the operation of Arauco II Wind Farm, with a 99.75
MW capacity, at a price of US$ 171 million, including the takeover of a US$ 46 million interest liability recorded in VAR and payable
by PEA in 12 consecutive monthly installments as from transaction closing.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 16, 2022, as the conditions
precedent had been met, PEA transferred VAR&#8217;s shares, and the Company paid US$ 128.1 million, an amount that considers the working
capital adjustment estimated on that date. Lastly, in 2023, the final adjustment amounted to US$ 1.8 million in favor of the Company.</P>


<!-- Field: Page; Sequence: 92 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->84<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table details the fair value
of the consideration transferred, and the fair values of the assets acquired and liabilities assumed as of, December 16, 2022:</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify; width: 59%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 19%">In million of US$</TD>
    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 19%">In million of $</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Consideration transferred&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(128.1)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(22,840.2)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Estimated price adjustment&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">6.7</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">1,182.5</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: justify">Total</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(121.4)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(21,657.7)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Property, plant and equipment <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right">167.7</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">29,927.7</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Intangible assets - Customer contract <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right">62.3</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">11,115.9</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Trade receivables <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: right">4.9</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">869.6</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Other receivables</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1.2</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">200.5</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Cash and cash equivalents</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">0.5</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Deferred tax liability</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(60.2)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(10,743.4)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Income tax liability</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(5.0)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(887.1)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Trade and other payables</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3.3)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(588.9)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Other payables</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(46.0)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(8,202.6)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify">Tax liabilities</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(0.2)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(34.5)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: justify">Total acquisition price allocation <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(4)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">121.4</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">21,657.7</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial Unicode MS; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 9pt; font-weight: normal"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt; font-weight: normal">Arauco Wind Farm&#8217;s fair value was assessed using
the &#8220;cost-based approach,&#8221; which consists of the farm&#8217;s replacement cost new, adjusted by its loss of value resulting
from physical deterioration and functional and economic obsolescence. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial Unicode MS; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 9pt; font-weight: normal"><SUP>(2)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt; font-weight: normal">The fair value of this intangible asset regarding the
identified business transactions has been determined through the application of the &#8220;income-based approach&#8221; and the &#8220;multi-period
excess earnings&#8221; method. Key assumptions used considered: i) projected generation level; and ii) discount rate. The useful life
was assessed based on the remaining years of the contract.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial Unicode MS; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 9pt; font-weight: normal"><SUP>(3)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt; font-weight: normal">For acquired trade receivables, contractual value does
not differ from fair value.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial Unicode MS; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 9pt; font-weight: normal"><SUP>(4)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt; font-weight: normal">No differences in the acquired assets&#8217; accounting
valuation were identified, except for the values detailed under Property, plant and equipment and Intangible assets.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Expenses related to the acquisition transaction
were non-significant and they were recognised as expenses in fiscal year result.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If the acquisition had taken place on
January 1, 2022, the consolidated revenues from sales and the results for the period as of December 31, 2022 would have been $ 245,955
million (US$ 1,858 million) and $ 63,617 million (US$ 448 million), respectively. The pro forma information was calculated based on the
Company and VAR&#8217;s results.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company paid $16,831.2 million (US$
93.2 million) for the acquisition of the equity interest, which is disclosed in the consolidated statement of cash flows in the item &#8220;Payment
for the acquisition of subsidiaries and associates&#8221; under investment activities. In addition, the Company made a partial payment
by delivering public securities for $ 6,009 million (US$ 34.9 million) which is disclosed in the consolidated statement of cash flows
in the item &#8220;significant non-cash transactions&#8221; (see Note 14.3).</P>


<!-- Field: Page; Sequence: 93 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->85<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">5.2.6 <U>Acquisition of additional interest
in Rinc&oacute;n de Aranda and divestment in Greenwind</U></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><FONT STYLE="font-weight: normal">On
June 23, 2023, the Company reached an agreement with Total Austral S.A. (Argentine branch) to acquire the additional 45% interest in
the Rinc&oacute;n de Aranda block, achieving a 100% interest in the block. As part of the agreement, on the transaction's closing date
Pampa transfered 100% of its equity interest in Greenwind, which only asset is the Mario Cebreiro Wind Farm.</FONT></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><FONT STYLE="font-weight: normal">Rinc&oacute;n de
Aranda is a 240 km2 exploration block located in the oil window of the Vaca Muerta formation, in the Province of Neuqu&eacute;n. It currently
has a shut-in production well and an uncompleted well, both drilled in 2019; although the block is not currently in production, its proximity
to important productive blocks in the Vaca Muerta formation makes it highly promising from a technical standpoint. </FONT></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On August 16, 2023, after meeting the
conditions precedent, including, among others, the assignment approval and the granting of a CENCH over the area to the Company, the transaction
was closed.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On its part, Mario Cebreiro Wind Farm,
inaugurated in 2018 with a 100 MW capacity and located in Bah&iacute;a Blanca, Province of Buenos Aires, was the Company's first wind
power project, awarded under the Renovar 1 program; it is worth highlighting that, despite the wind farm&#8217;s assignment, the Company
remains committed to renewable energy, which is essential to keep its position as a leading provider of efficient energy, and has started
the construction of PEPE VI (see Note 18).</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Lastly, with the acquisition of the additional
interest in Rinc&oacute;n de Aranda, the Company diversifies its presence in the energy sector with a shale oil block having great production
potential and reinforces its commitment to the development of unconventional reserves in Vaca Muerta.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On the closing date, the Company recorded
profits of $ 2,485 million (US$ 6.6 million) to reflect the fair value of the previously held 55% interest in the Rinc&oacute;n de Aranda
block, as well as profits of $ 85 million (US$ 0.2 million) to reflect the result of the asset swaps.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The fair value of Rincon de Aranda area
was based on present value of future net cash flows prepared based on estimates on the future behavior of certain key assumptions, including
the following: (i) reference prices for products; (ii) demand projections per type of product; (iii) costs evolution; (iv) macroeconomic
variables such as inflation and exchange rates; and (v) the discount rate.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table details the value of the
transferred consideration and the fair value of assets acquired and liabilities assumed as of August 16, 2023:</P>


<!-- Field: Page; Sequence: 94 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->86<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0; text-align: left"><IMG SRC="image_007.jpg" ALT=""></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The following table details the book value of Greenwind&acute;s interest:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><IMG SRC="image_008.jpg" ALT=""></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The contingency provisions assumed by
Pampa correspond to the additional income tax that should have been determined in Greenwind for the fiscal year 2022 without considering
the tax loss update regarding the contractual indemnity granted to Total Austral S.A. (Argentine Branch).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(2)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The well&#8217;s fair value was assessed using the &#8220;cost-based approach&#8221;, which
consists of its replacement cost new adjusted by its loss of value resulting from physical deterioration, and functional and economic
obsolescence. The fair value of the mining property was assessed using the &#8220;income-based approach&#8221;, considering the development
plan contemplated in the concession contract's term.</TD>
</TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><SUP>&nbsp;</SUP></P>


<!-- Field: Page; Sequence: 95 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->87<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(3)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The fair value of spare parts was assessed using the &#8220;cost-based approach&#8221;, which
consists of the item&#8217;s replacement cost new adjusted by its loss of value resulting from physical deterioration, and functional
and economic obsolescence.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(4)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The contractual value of tax credits does not differ from its fair value.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(5)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Corresponding to the price adjustment paid by Total Austral S.A. (Argentine branch).</TD>
</TR></TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As a result of the asset swap, the Company
received in cash and cash equivalents the amount of $ 10,231 million (US$ 29.2 million), which, net of the assigned cash and cash equivalents
balance of $ 5,841 million (US$&nbsp;16.7&nbsp;million), results in a net cash flow of $ 4,390 million (US$ 12.5 million), disclosed in
the statement of cash flows in the item &#8220;Collection for equity interests in companies sales&#8221; under investment activities.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 96 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->88<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 35.4pt; text-align: justify; text-indent: -35.4pt"><B>5.3 Interest
in subsidiaries, associates and joint ventures</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 35.4pt; text-align: justify; text-indent: -35.4pt">5.3.1 <U>Subsidiaries
information</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Unless otherwise indicated, the country
of the registered office is also the principal place where the subsidiary develops its activities.</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 37%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; background-color: white; width: 10%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; background-color: white; width: 21%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 14%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 14%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Company</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Country</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Main activity</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Direct and indirect participation %</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Direct and indirect participation %</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Autotrol Renovables S.A.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Generation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">CISA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Trader &amp; investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Ecuador Pipeline Holdings Limited</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Gran Cayman</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">EISA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Uruguay</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Enecor S.A.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Electricity transportation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">70.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">70.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Energ&iacute;a Operaciones ENOPSA S.A. <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.3pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Ecuador</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Oil</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Fideicomiso CIESA&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">GASA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Generation &amp; Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Greenwind <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8.7pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Generation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">HIDISA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Generation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">61.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">61.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">HINISA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Generation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">52.04%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">52.04%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Pampa Ecuador Inc&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Nevis</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">PEB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Bolivia</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">PE Energ&iacute;a Ecuador LTD</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Gran Cayman</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">PECSA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Chile</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Trader</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">PESOSA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Trader</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Petrolera San Carlos S.A.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Venezuela</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Oil</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">PB18</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Ecuador</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Oil</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">PISA</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Uruguay</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">TGU</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Uruguay</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Gas transportation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">51.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">51.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">VAR</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Generation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Vientos Solutions Argentina S.A.U.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Argentina</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Advisory services</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Vientos Solutions S.L.U.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Espa&ntilde;a</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Investment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100.00%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">Company merged into PB18.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(2)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">See Note 5.2.6.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 97 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->89<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">5.3.2
<U>Information about investments in associates and joint ventures</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table presents the main
activity and financial information used for valuation and percentages of participation in associates and joint ventures; unless otherwise
indicated, the share capital consists of common shares, each granting the right to one vote:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Information about the issuer</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 11%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 23%">Main activity</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 12%">Date</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 12%">Share capital</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">Profit (Loss) of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 12%">Equity</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 12%">Direct and indirect participation %</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Associates</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>OCP</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">Investment</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">12.31.2023</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">81,210</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">9,989</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">91,770</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">34.08%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">TGS <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left">Gas transportation</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">12.31.2023</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">753</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">23,517</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">855,674</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">1.029%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="font-weight: bold; text-align: left">Joint ventures</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>CIESA <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left">Investment</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">12.31.2023</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">639</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">11,911</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">436,583</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center">50.00%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Citelec <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left">Investment</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">12.31.2023</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">556</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">3,477</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">132,932</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">50.00%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">CTB</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">Generation</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">12.31.2023</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">8,558</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(12,471)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">404,476</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">50.00%</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">The Company holds a direct and indirect interest of 1.029% in TGS and 50%
in CIESA, a company that holds a 51% interest in the share capital of TGS. Therefore, additionally the Company has an indirect participation
of 26.50% in TGS.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 12pt 0 0 32.2pt; text-align: justify">As of December 31, 2023, the quotation
of TGS's ordinary shares and ADR published on the BCBA and the NYSE was $2,956.15 and US$ 15.09, respectively, granting to Pampa (direct
and indirect) ownership an approximate stake market value of $ 623,064 million.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify; text-indent: -14.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 9pt"><SUP>(2)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">The Company holds a 50% interest in Citelec, a company that holds a 52.65%
interest in Transener&#8217;s capital stock; therefore, the Company has a 26.33% indirect interest in Transener. As of December 31, 2023,
Transener&#8217;s common share price listed at the BCBA was $ 1,210.00, conferring Pampa&#8217;s indirect interest an approximate $ 141,643
million market value.</FONT></TD></TR></TABLE>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 6pt 32.2pt; text-align: justify; text-indent: -9.7pt">&nbsp;</P>


<!-- Field: Page; Sequence: 98 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->90<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify; text-indent: -13.5pt">The details
of the balances of investments in associates and joint ventures are as follows:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify; text-indent: -13.5pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 19%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 21%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; background-color: white">Disclosed in non-current assets</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; background-color: white">Associates</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">OCP</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">18,513</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2,679</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">TGS</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">10,997</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">11,805</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">Other</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">18</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Total associates</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">29,528</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">14,487</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; background-color: white">Joint ventures</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">CIESA</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">244,748</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">77,043</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Citelec</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">66,466</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">20,801</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">CTB</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">202,236</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">47,502</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Total joint ventures</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">513,450</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">145,346</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Total associates and joint ventures</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">542,978</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">159,833</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">The following tables show the breakdown of the share of profit from
associates and joint ventures:</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 16%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 17%">12.31.2022</TD>
    <TD STYLE="text-align: center; font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 14%">31.12.2021</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-decoration: underline; text-align: left">Associates</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Refinor <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,328)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(162)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">OCP</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">3,116</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right">(13)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right">7</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">TGS</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,089</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right">1,217</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right">706</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Total associates</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">4,205</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(124)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">551</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-decoration: underline; text-align: left">Joint ventures</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">CIESA</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4,831</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right">7,852</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right">5,141</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Citelec&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,739</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">448</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right">(346)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">CTB</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(6,234)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right">4,671</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right">4,708</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Greenwind <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,242</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(160)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Total joint ventures</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">336</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">16,213</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">9,343</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Total associates and joint ventures</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">4,541</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">16,089</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">9,894</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 8pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">See Note 5.2.2. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 8pt"><SUP>(2)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">See Note 5.2.3. </FONT></TD></TR></TABLE>


<!-- Field: Page; Sequence: 99 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->91<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">The evolution of investments in associates and joint ventures is as
follows:</P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 16%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 17%">12.31.2022</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 14%">12.31.2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">At the beginning of the year</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">159,833</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">79,114</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">46,068</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Dividends reversal</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,645</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Dividends</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(854)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(1,949)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Aquisition of equity interests</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">481</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">62</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,597</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Sale of equity interests</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(17,281)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(862)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Decrease due to obtained control</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(2,756)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Profit from sale of companies&acute; interest&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">880</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">1,673</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Share of profit&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">4,541</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">17,331</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">9,736</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>(Impairment) Recovery of impairment losses</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(1,242)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">158</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Exchange differences on translation</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">394,524</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">69,040</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">20,186</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">At the end of the year</TD>
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">542,978</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">159,833</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">79,114</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: -9.7pt">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">5.3.3 <U>Investment in CTB</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On June 26, 2019, the acquisition by CTB,
a company co-controlled by YPF and Pampa, of the goodwill of CTEB, located in the petrochemical complex of Ensenada-Province of Buenos
Aires and consisting of two open-cycle gas turbines and an installed capacity of 567 MW, was completed.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">CTB undertook to achieve the cycle-closing
commissioning, increasing its installed capacity to 847 MW. On January 27, 2023, CTB commissioned the CC, and on February 22, 2023, commercial
operations started under the supply contract with CAMMESA. On April 26, 2023, CTB was commissioned to operate with gas oil.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">CTB entered into energy supply contracts
with CAMMESA under SE Resolution No. 220/07; the open cycle contract terminated on April 27, 2022, and the closed cycle contract is effective
for a term of 10 years as from the CC&#8217;s start of commercial operations. Energy not committed under contracts with CAMMESA is remunerated
at the spot market. Finally, CTB entered into an availability and efficiency optimization agreement with CAMMESA for its open-cycle GT
units, effective from March 1, 2023 to February 29, 2028, within the framework of SE Resolution No. 59/23 (see Note 2.1.4.4).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In 2019, Pampa and YPF agreed on a management
and operation scheme for CTEB whereby the company would be managed by Pampa and YPF Energ&iacute;a El&eacute;ctrica S.A. on a rotational
basis for 4-year periods. Pampa managed the company during the first period and YPF Energ&iacute;a El&eacute;ctrica S.A., on its part,
oversaw and managed the works associated with the plant&#8217;s closing to CC. On December 29, 2023, Pampa and YPF entered into an addendum
to the management agreement stipulating a shared management scheme between Pampa and YPF Energ&iacute;a El&eacute;ctrica S.A., effective
as from January 2024, suspending the previous rotational scheme. The addendum contemplates the possibility of resuming the original rotational
scheme at the request of the parties.</P>


<!-- Field: Page; Sequence: 100 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->92<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>5.3.3.1 Global Program of CB </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On July 23, 2020, CTB&#8217;s Extraordinary
General Shareholders&#8217; Meeting resolved to approve the creation of a global program of simple corporate bonds non-convertible into
shares for up to US$ 200 million or its equivalent in other currencies or units of value, and the issuance of corporate bonds under such
program up to its maximum amount, at any time, to be issued in one or more classes and/or series, which authorization was granted by the
CNV on September 24, 2020.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>5.3.3.2 Issuance of CB</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On June 4, 2021, CTB issued: (i) Class
1 CB for a total amount of US$ 27.3 million, accruing interest at an annual fixed rate of 4% and maturing on June 4, 2023; and (ii) Class
2 CB for a total amount of 37,504,954 units of purchasing power (&#8220;UVA&#8221;), adjustable by the Reference Stabilization Coefficient
(CER), equivalent to $2,928 million, accruing interest at a fixed 4% rate and maturing on June 4, 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On August 18, 2021, CTB reopened (i) Class
1 CB for a total amount of US$&nbsp;15.6 million at an issue price of 101.7050%; and (ii) Class 2 CB for a total amount of 27.9 million
UVA at an initial value of $84.76 per UVA at an issue price of 100.82%.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 26, 2021, CTB issued Class
4 CB for a total amount of US$&nbsp;96 million, accruing interest at an annual 0% fixed rate and maturing on November 26, 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 16, 2022, CTB issued: (i) Class
6 CB for a total amount of US$ 25 million at a fixed annual 0% rate maturing on May 16, 2025; and (ii) Class 7 CB for a total amount of
$ 1,754 million accruing interest at a variable Badlar rate plus an annual 2.98% spread and maturing on November 16, 2023, date in which
were totally cancelled.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On August 22, 2022, CTB issued Class 8
CB for a total amount of $ 4,235 million, accruing interest at a variable Badlar rate plus a 1.00% annual spread and maturing on February
22, 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, on December 12, 2022, CTB reopened
additional Class 6 CB for a total amount of US$ 58.6 million accruing interest at an annual 0% fixed rate and maturing on May 16, 2025.
With the reopening of Class 6 CB, which were subscribed and paid in cash and in-kind through the delivery of Class 1 CB, Class 1 CB with
a fair value of US$ 10.7 million were partially canceled.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It is worth highlighting that the resolutive
condition of the guarantees granted by CTB&#8217;s co-controlling shareholders (Pampa and YPF) to holders of outstanding Classes 1, 2,
4, 6, 7 and 8 CB issued by CTB to secure the timely and proper payment of any owed amount, including principal and interest services,
was fulfilled with the CC&#8217;s commissioning on February 22, 2023. Consequently, these guarantees were terminated and rendered ineffective
and unenforceable.</P>


<!-- Field: Page; Sequence: 101 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->93<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 3, 2023, CTB issued Class 9 CB for a
total amount of US$&nbsp;50 million at an annual 0% fixed Badlar rate maturing on April 3, 2026. These CB were subscribed and paid in
cash and in kind through the delivery of the Class 1 CB; therefore, Class 1 CB for a face value of US$ 2.2 million were partially canceled.
The remaining outstanding face value of Class I CB, amounting to US$ 30 million, was redeemed in full in May 2023.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of the date of issuance of these Consolidated
Financial Statements, CTB is in compliance with all the covenants established in its debt agreements.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Additionally, CTB took out import financing for
US$&nbsp;0.8&nbsp;million.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Post-closing, the Company took out short-term
bank loans in pesos for $ 31,786 million at an average annual 106% interest rate and, in January 2024, it early redeemed all Class&nbsp;2
CB.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>5.3.3.3 Impairment of non-financial
assets</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, CTB did not identify
indications that could impact the assumptions considered in the recoverability assessment performed as of December 31, 2022. It should
be noted that CTB has not recorded any impairment losses as a result of aforementioned assessment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 102 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->94<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">5.3.4 <U>Investment in OCP</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company, through PEB, has an equity
stake in OCP, which in turn holds the whole capital stock and voting rights of OCP SA, the licensee company of an oil pipeline in Ecuador
with a transportation capacity of 450,000&nbsp;barrels/day.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On August 12, 2021, the Company, through
its subsidiary PEB, entered into an agreement with Occidental International Exploration and Production Company for the acquisition of
all the shares of Occidental del Ecuador Inc. (currently Pampa Ecuador Inc.), a company which in turn holds shares representing 14.15%
of OCP's capital stock, for US$&nbsp;5 million.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On its part, on November 30, 2023, the
Company, through its subsidiary PEB, entered into an agreement with Burlington Resources Oriente Limited and Perenco S.A for the purchase
of Ecuador Pipeline Holdings Limited, a company which in turn holds shares representing 4% of OCP&#8217;s capital stock, in consideration
of a price equivalent to US$ 1 (one dollar).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The closing of these transactions, taking
into consideration the timing of the agreements and the concession&#8217;s extension term, involved the recognition of profits for US$
17.2 million and US$ 3.7 million under IAS 28. The following table details the consideration and the fair values of the assets acquired
and the profits recorded on the detailed acquisition dates:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 74%; border-top: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">8.12.21</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">11.30.23</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">In millions of US$</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt">Acquisition cost </TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right">(5.0)</TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt"><B>Total consideration </B></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right"><B>(5.0)</B></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right"><B>-</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt">Share value of the interest in the fair value of OCP&#8217;s identifiable assets and liabilities <SUP>(1)</SUP></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; text-align: right">12.7</TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; text-align: right">2.4</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt">OCP dividends to be received </TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right">9.5</TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt">Cash and cash equivalents</TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right">-</TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right">1.3</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt"><B>Assets fair value </B></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right"><B>22.2</B></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right"><B>3.7</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; border-left: white 1pt solid; padding-right: -17.15pt; padding-left: 5.4pt"><B>Profit <SUP>(2)</SUP></B></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right"><B>17.2</B></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: Black 1pt solid; text-align: right"><B>3.7</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 9.7pt"><SUP>(1)</SUP></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">Calculated based on the present value of expected dividend flows.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 9.7pt"><SUP>(2)</SUP></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">Disclosed under &#8220;Share of profit from associates and joint ventures&#8221;.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 103 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->95<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 12, 2021, PEB recorded an impairment
reversal of US$ 1.6 million, on the interest in OCP, prior the aforementioned acquisition, in relation to the estimation of the present
value of the future cash flows that were expected to be obtained through the collection of dividends considering the concession term and
a discount rate of 15.09%.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Additionally, on May 4, 2023, the Company, through
its subsidiary PEB, entered into a purchase agreement with Repsol OCP de Ecuador S.A. to acquire 2,979,606,613 additional shares, representing
29.66% of OCP, for a price of US$ 15 million, adjusted by subtracting the dividends collected by Repsol OCP de Ecuador S.A. between January
1, 2023 and the transaction closing date. As of December 31, 2023, the closing of the transaction was subject to the customary conditions
precedent for this kind of transactions, including the applicable governmental approvals.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Post-closing, on January 16, 2024, the
transaction was closed. It is worth highlighting that with this transaction the Company, through PEB, reaches a 63.74% equity interest
in OCP's capital stock and obtains joint control, in accordance to the commitment to amend the shareholders' agreement dated on January
9, 2024 with PetroOriental OCP Holdings Ltd.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>5.3.4.1 Concession termination</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Given the Government's interest in ensuring
continuity in the provision of the public hydrocarbon transportation utility through the heavy crude oil pipeline, on January 19, 2024
the Ministry of Energy and Mines of Ecuador and OCP SA agreed to extend its term until July 31, 2024 to: (i) allow the Government the
time necessary to verify compliance with the authorization contract, including the pipeline's original diameter in all its sections, the
enabling licenses issued by the Energy and Non-Renewable Natural Resources Regulation and Control Agency, and (ii) allow OCP SA to substantiate
compliance with the authorization contract. The parties will also review the objectives set for the transition process, agree on the content
of the termination agreement, and take the necessary measures for the transfer of the company.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>5.3.4.2 Dividend distribution and share buyback
</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Post-closing, on January 5, on January 18, 2024,
OCP declared dividends for US$13.3 million. Additionally, on January 22, 2024, OCP repurchased a total of 5,740,902,124 own ordinary shares
for a US$ 0.01 price each.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a consequence of the aforementioned, on January
22, 2024, the Company, through PEB, received US$ 8.5 million for dividend distribution and US$ 36.6 million for stock buyback, in relation
to its 63.74% interest in OCP.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>


<!-- Field: Page; Sequence: 104 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->96<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>5.3.4.3 Contingent liabilities in OCP
SA</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">During 2023, upon the occurrence of a
force majeure event related to the erosive process in the Quijos River bed, in the San Rafael sector, on the border of the provinces of
Sucumb&iacute;os and Napo, Ecuador, several organizations and individuals filed a constitutional protection action against OCP SA, as
well as against the Ministry of Energy, the Ministry of Environment and Water, Petroecuador and the Ministry of Health, alleging violation
of several constitutional rights. The safeguard action was dismissed in the second instance by Orellana&#8217;s Provincial Court of Justice;
however, the plaintiffs filed a constitutional protection action, which was upheld by the Constitutional Court.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In 2023, due to the Force Majeure event
resulting from the pipeline rupture in 2020 mentioned in the previous paragraph, the decentralized autonomous government of Orellana filed
a constitutional protection action against OCP SA and Petroecuador alleging violation of several constitutional rights. The protection
action has not been resolved as of the date of issuance of these Financial Statements.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Moreover, in 2023, due to the Force Majeure
event resulting from the pipeline rupture in 2020, residents of the Puerto Madero area filed a constitutional protection action against
OCP SA, the Presidency of the Republic of Ecuador and EP Petroecuador alleging violation of several constitutional rights. The protection
action has not been resolved as of the date of issuance of these Financial Statements. OCP SA&#8217;s management, jointly with its legal
advisors, has determined that the probability of an adverse ruling is remote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">5.3.5
<U>Investment in CITELEC</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>5.3.5.1 Impairment in the value of
non-financial assets in Transener </I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The projections used by Transener in the
calculation of the recoverable amount of long-lived non-financial assets considered 3 weighted alternatives associated with: (i) the status
of negotiations with the ENRE; (ii) the Right-of-Use and Associated Maintenance contract; (iii) Transener&#8217;s management expectations
on the transitional tariff increase to be granted until the conclusion of the new RTI; (iv) Transener&#8217;s expectations on the timeliness
and outcome of the new RTI process; and (v) the impact of a cost monitoring scheme allowing for bi-annual updates to current tariffs.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023 and 2022, the
book value of Transener&#8217;s long-lived non-financial assets does not exceed their recoverable amount.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>5.3.5.2 Distribution of earnings</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Regarding the loan agreement executed
in July 2021 between Transener and BNA in the amount of $ 1,000 million, for the tree-year term, Transener&#8217;s Board of Directors
has committed, while the loan remains outstanding, to refrain from making any proposal to the Shareholders&#8217; Meeting regarding the
release of reserves for their distribution as dividends to shareholders or, in case there are negative results affecting reserves, from
proposing the distribution of earnings until reserves have been replenished.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 105 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->97<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">5.3.6
<U>Investment in CIESA</U></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>Impairment of non-financial assets
in </I>TGS</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Argentina&#8217;s main macroeconomic and
business variables have deteriorated since August 2019. This situation worsened in 2020 due to the negative consequences of the COVID
pandemic on the Argentine economic situation, which forced the Argentine Government to take a series of measures, even affecting the regulatory
framework of the natural gas transportation segment. As a result, TGS has re-estimated the cash flows used in determining the recoverable
value (value in use) of the CGU in the Natural Gas Transportation segment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The projections used in the calculation
of the recoverable amount considered 3 weighted alternatives associated with: (i) the status of negotiations with the Argentine Government;
(ii) the contractual rights resulting from the license; (iii) expectations on the transitional tariff increase to be granted until the
conclusion of the new RTI; (iv) expectations on the result of the new RTI process; and (v) the impact of a cost monitoring scheme allowing
for bi-annual updates to current tariffs.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023 and 2022, TGS
has determined that it is not necessary to record an additional impairment charge, nor to reverse the recorded one.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>5.4 Operations in oil and gas consortiums</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">5.4.1 <U>General considerations</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company is jointly and severally liable
with the other participants for meeting the contractual obligations under these arrangements.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The production areas in Argentina are
operated pursuant to concession production agreements with free hydrocarbons availability.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For the computable crude oil and natural
gas in Argentina production, according to Law No.17,319, are paid royalties equivalent to 12% of the wellhead price of crude oil and natural
gas. The wellhead price is calculated by deducting freight and other sales related expenses from the sale prices obtained from transactions
with third parties. This rate may increase from 3% to 4% depending on the producing jurisdiction and market value of the product.</P>


<!-- Field: Page; Sequence: 106 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->98<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">5.4.2 <U>Oil and gas participation details
</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, the Company and
its associates are part of the joint operations and consortia for the exploration and production of oil and gas as indicated below:</P>

<P STYLE="font: 10pt/7pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; width: 30%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 18%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 15%">Participation</TD>
    <TD STYLE="text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 22%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 3%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="border-bottom: black 0.5pt solid; font-weight: bold; text-align: center; width: 8%">&nbsp;Duration up to&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Name</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Location</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Direct</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Operator</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-decoration: underline; background-color: white">Argentine production</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">R&iacute;o Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">R&iacute;o Negro and Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">31.42% and 33.07%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">YPF</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">2027/2051</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Sierra Chata&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">45.55%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">PAMPA</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">2053</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">El Mangrullo</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">100.00%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">PAMPA</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">2053</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">La Tapera - Puesto Quiroga&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">Chubut</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">35.67%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">Tecpetrol</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">2027</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">El Tordillo&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">Chubut</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">35.67%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">Tecpetrol</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">2027</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Aguarag&uuml;e <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Salta</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">15.00%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Tecpetrol</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">2037</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Gobernador Ayala</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">Mendoza</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">22.51%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">Pluspetrol</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">2036</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">R&iacute;o Limay este (Ex Senillosa) <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">85.00%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">PAMPA</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">2040</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Rinc&oacute;n de Aranda <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">100.00%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">PAMPA</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2058</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Veta Escondida</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">55.00%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">PAMPA</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2027</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Rinc&oacute;n del Mangrullo</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">50.00%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">YPF</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2052</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Los Blancos (ex Chirete)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Salta</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">50.00%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">High Luck Group Limited</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2045</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-decoration: underline; background-color: white">Argentine exploration</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Parva Negra Este <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(4)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">85.00%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">PAMPA</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2025</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>R&iacute;o Atuel <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(5)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Mendoza</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">33.33%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Petrolera El Trebol</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2023</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Borde del Limay <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(6)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">85.00%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">PAMPA</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Los V&eacute;rtices <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(6)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">85.00%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">PAMPA</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Las Tacanas Norte <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt; font-style: normal; font-weight: 400"><SUP>(7)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">Neuqu&eacute;n</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">90.00%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">PAMPA</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2027</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Trebuchet MS, Times, Serif; font-size: 8.5pt"></FONT></P>

<P STYLE="font: 8.5pt Trebuchet MS, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">On February 3, 2023, an agreement for a 10-year extension of the concession
was signed with the enforcement authority. The agreement includes investment commitments for the execution of 1 well, 2 workovers and
2D seismic reprocessing, and was ratified by Provincial Executive Order No. 543/23 published on August 14, 2023 in Salta&#8217;s BO.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(2)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">On January 2, 2023, the environmental remediation plan was approved by the
Province of Neuqu&eacute;n&#8217;s Undersecretariat of Environment, a necessary preliminary step to relinquish the block.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(3)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">On June 23, 2023 the additional 45% interest in the block was acquired (see
details below).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(4)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">On December 5, 2023, the addendum to the block&#8217;s Joint Venture agreement
was approved (see details below).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(5)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">On July 10, 2023, the Company and Petrolera El Tr&eacute;bol informed the
Ministry of Economy and Energy of the Province of Mendoza of their decision to fully relinquish the block classified as a lot under evaluation
pursuant to section 81.(b) of Act No. 17,319. Consequently, the Company has written off exploration wells for $ 1,702 million (US$ 6.6&nbsp;million).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(6)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">Under process of relinquishment to the province. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(7)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">On November 30, 2023, the addendum to the exploration, development and production
agreement for the block was approved (see details below).</FONT></TD></TR></TABLE>


<!-- Field: Page; Sequence: 107 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->99<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 9pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify">The assets and liabilities as of December 31,
2023 and 2022 and the production cost of Joint Ventures and Consortiums in which the Company has interests for the years ended on those
dates are detailed below:</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; width: 63%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 17%">12.31.2023</TD>
    <TD STYLE="text-align: center; font-weight: bold; vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 17%">12.31.2023</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: right"><U></U></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Non-current assets</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90,360</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40,278</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Current assets</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,587</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,846</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Total assets</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95,947</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43,124</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Non-current Liabilities</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13,371</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,354</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Current Liabilities</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23,084</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,434</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Total liabilities&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36,455</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13,788</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Production cost</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">27,672</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11,125</TD></TR>
  </TABLE>

<P STYLE="font: 9pt/120% Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">It is worth highlighting that the information presented does not include
charges recorded by the Company as a member of the Joint Ventures and Consortiums.</P>


<!-- Field: Page; Sequence: 108 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->100<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 5</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>Assignment of mixed companies in Venezuela</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 6, 2022, the Company transferred
to Integra Petr&oacute;leo y Gas S.A. (the &#8220;Assignee&#8221;) all the rights and obligations of the Company for its direct and indirect
interest in the capital of the following mixed companies in the Bolivarian Republic of Venezuela: Petroritupano S.A., Petroven-Bras S.A.,
Petroway&uacute; S.A. and Petrokari&ntilde;a S.A. (the &#8220;Mixed Companies&#8221;) that exploit four hydrocarbon production areas in
that country: Oritupano Leona, La Concepci&oacute;n, Acema and Mata (the &#8220;Areas&#8221;). As consideration for the assignment, the
Assignee will pay to the Company 50% of any payment it obtains, whether monetary or in kind (including, without limitation, an indemnity,
compensation, reparation or similar) related to the direct or indirect interest in the Mixed Companies and the Areas. This transaction
is subject to the change of control approval by the Minister of Popular Power of Petroleum of the Bolivarian Republic of Venezuela.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of the date of issuance of these Consolidated
Financial Statements, the Company considers contingent the collection right associated with the assignment, in terms of IAS 37, taking
into consideration that it is subject to the change of control approval and subsequent collection of payments by the Assignee.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>Anticlinal Campamento termination agreement</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On January 19, 2023, the Company accepted
Oilstone Energ&iacute;a S.A.&#8217;s offer to terminate its rights and obligations under the investment agreement, the Joint Operation
and the operating agreement of the block, effective from January 1, 2023.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>Estaci&oacute;n Fern&aacute;ndez Oro
termination agreement</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On March 14, 2023, the Company accepted
YPF S.A.&#8217;s proposal to terminate, effective as from January 1, 2023, all the Company&#8217;s rights and obligations in the investment
agreement, the Joint Operation and the operating agreement for the Estaci&oacute;n Fern&aacute;ndez Oro block&#8217;s exploitation concession.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>Acquisition of additional interest
and grant of CENCH at Rinc&oacute;n de Aranda</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On June 23, 2023, the Company executed
an agreement with Total Austral S.A. (Argentine branch) to acquire the additional 45% interest in the Rinc&oacute;n de Aranda area. As
part of the agreement, on the transaction&#8217;s closing date, the Company assigned 100% of its equity interest in Greenwind, which only
asset is the Mario Cebreiro Wind Farm (see Note 5.2.6).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On July 26, 2023, the Company entered
into a Memorandum of Understanding with the Province of Neuqu&eacute;n agreeing on the CENCH granting terms. Later, pursuant to Executive
Order No. 1,435/23, the Province of Neuqu&eacute;n approved the above-mentioned Memorandum of Understanding and the assignment of Total
Austral S.A. (Argentine branch)&#8217;s interest to the Company, and granted the CENCH in favor of the Company. The assignment of rights
over the block and the CENCH are effective as from August 16, 2023, the transaction&#8217;s closing date.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 109 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->101<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company had a 55% interest in the
block; therefore, after the closing of the transaction, it reached a 100% interest in Rinc&oacute;n de Aranda.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As part of the CENCH's granting, the Company
committed to carry out a pilot program involving the completion of 1&nbsp;previously drilled well, as well as the drilling and completion
of 2 pads consisting of 8 wells, and the construction and adaptation of surface facilities, with an estimated US$ 161 million investment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>Exploration, Development and Production
Agreement, Las Tacanas North Block</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 30, 2023, Executive Order
No. 2,426/23 was published, approving the Exploration, Development and Production Agreement for the Las Tacanas Norte block entered into
between the Company and Gas y Petr&oacute;leo del Neuqu&eacute;n S.A. on November 24, 2023, under the Neuqu&eacute;n Exploratory Plan,
whereby the Company receives a 90% interest in the Las Tacanas Norte block for a 4-year exploratory period, to be operated by the Company
and with the commitment to carry out certain exploration tasks of hydrocarbon potential, including the execution of one vertical exploratory
well, scheduled for the first four-month period of the third year of the exploratory period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I>Continuity plan in the Parva Negra
Este block</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 5, 2023, Executive Order No.
2,498/23 was published, approving Addendum II to the Joint Venture Agreement for the Parva Negra Este block, whereby ExxonMobil Exploration
Argentina S.R.L assigns to the Company its 42.50% interest in the Joint Venture.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It also approves the relinquishment of
50% of the block, a surface of 143 km2 therefore corresponding to the Concession. In turn, it approves the Lot Under Evaluation for the
3-year period from April 3, 2022 to April 2, 2025, including the commitment to execute 1 horizontal well targeting the Vaca Muerta formation,
with an associated investment of US$ 16 million, to be executed before September 30, 2024.</P>

<P STYLE="font: 8.5pt Trebuchet MS, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 110 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->102<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 5</U>:</B> (Continuation)</P>

<P STYLE="font: 8pt/120% Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">5.5
Exploratory well costs</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table provides the year
end balances and activity for exploratory well costs, during the years ended December 31, 2023, 2022 and 2021:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white; width: 51%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 15%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 15%">12.31.2022</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 15%">12.31.2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: white; font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">At the beginning of the year</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">6,432</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4,278</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">4,167</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Increases</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,046</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">256</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">809</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Transferred to development</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(1,264)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,562)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Derecognition of unproductive wells&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,702)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(32)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Traslation differences</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">20,173</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">3,162</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">896</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">At the end of the year</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">25,949</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">6,432</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">4,278</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Number of wells at the end of the year</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; background-color: white; text-align: right">4</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; background-color: white; text-align: right">7</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; background-color: white; text-align: right">10</TD></TR>
  </TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 6</U>: RISKS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">6.1 Critical accounting estimates and judgments</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The preparation of financial statements
requires the Company&#8217;s Management to make future estimates and assessments, to apply critical judgment and to establish assumptions
affecting the application of accounting policies and the amounts of disclosed assets and liabilities, income and expenses.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The applied estimates and accounting judgments
are evaluated on a continuous basis and are based on past experiences and other reasonable factors under the existing circumstances. Actual
future results might differ from the estimates and evaluations made at the date of preparation of these Consolidated Financial Statements.
The estimates which have a significant risk of producing adjustments on the amounts of the assets and liabilities during the following
year are detailed below:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.1 <U>Impairment of non-financial long-lived
assets</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Non-financial long-lived assets, including
identifiable intangible assets and right-of-use assets, are reviewed for impairment at the lowest level for which there are separately
identifiable cash flows (CGU). For this purpose, each assets group with independent cash flows, each subsidiary, associate and each jointly
controlled company has been considered a single CGU, as all of their assets jointly contribute to the generation of cash inflows, which
are derived from a single service or product; thus cash inflows cannot be attributed to individual assets.</P>


<!-- Field: Page; Sequence: 111 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->103<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In order to evaluate if there is evidence
that a CGU could be affected, both external and internal sources of information are analyzed. Specific facts and circumstances are considered,
which generally include the discount rate used in the estimates of the future cash flows of each CGU and the business condition as regards
economic and market factors, such as the cost of inventories, oil and gas prices, international petrochemical product&#8217;s price, the
regulatory framework for the energy industry, the projected capital investments and the evolution of the energy demand.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The value in use of each CGU is estimated
on the basis of the present value of future net cash flows expected to be derived on the UGE. Management uses approved budgets up to one
year as the base for cash flow projections that are later extrapolated into a term consistent with the assets&#8217; remaining useful
life, taking into consideration the appropriate discount rates. The discount rates used to discount future net cash flows is the WACC,
for each CGU a specific WACC was determined which considered the business segment and the country conditions where the operations are
performed. In order to calculate the fair value less the costs of disposal, the Company Management uses the estimated value of the future
cash flows that a market participant could generate from the appropriate CGU, less the necessary costs to carry out the sale of the corresponding
CGU.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company Management is required to
make judgments at the moment of the future cash flow estimation. The actual cash flows and the values may differ significantly from the
expected future cash flows and the related values obtained through discount techniques.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.2 <U>Current and deferred Income tax</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s Management periodically
evaluates tax treatments affecting the determination of taxable profit regarding uncertain tax treatment under tax law considering the
acceptability of a particular tax treatment by the relevant taxation authority, and, if applicable, recognizes tax provisions to reflect
the effect of the uncertainty for each tax treatment based on the amount estimated to be paid to the tax authorities.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If the final tax resolution regarding
uncertain tax treatments differs from recognised figures, such differences will have an effect on income tax and deferred income tax at
the year of such determination.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Deferred tax asset is reviewed at each
reporting date and reduced in accordance with the probability that the sufficient taxable base will be available to allow and for the
total or partial recovery of these assets. In assessing the recoverability of deferred tax assets, Management considers if it is likely
that a portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets depends on the
generation of future taxable income in the periods in which these temporary differences become deductible. To make this assessment, Management
takes into consideration the scheduled reversal of deferred tax liabilities, the projections of future taxable income and tax planning
strategies.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The generation of future taxable profits
may differ from these estimated affecting the deductibility of deferred tax assets.</P>


<!-- Field: Page; Sequence: 112 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->104<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.3 <U>Provision for contingencies</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company is subject to various claims,
lawsuits and other legal proceedings that arise during the ordinary course of its business. The Company&#8217;s liabilities with respect
to such claims, lawsuits and other legal proceedings cannot be estimated with certainty. The Company reviews the status of each contingency
and assesses potential financial liability, applying the criteria indicated in Note 4.21, for which elaborates the estimates mainly with
the assistance of legal advisors, based on information available to the Management at Consolidated Financial Statements date, and taking
into account the litigation and resolution/settlement strategies.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Contingencies include outstanding lawsuits
or claims for possible damages to third parties in the ordinary course of the Company&#8217;s business, as well as third party claims
arising from disputes concerning the interpretation of legislation.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company evaluates whether there would
be additional expenses directly associated with the ultimate resolution of each contingency, which will be included in the provision if
they may be reasonably estimated.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The final resolutions of the litigation
could differ from Management's estimates, generating current provisions to be inadequate, which could have a material adverse effect on
the statement of financial position, comprehensive income, changes in equity and cash flows.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.4 <U>Asset retirement obligations
and decommissioning of wind turbines</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Asset retirement obligations in oil and
gas areas after completion of operations require the Company&#8217;s Management to estimate the number of wells, long-term well abandonment
costs and the time remaining until abandonment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the same way, the obligations related
to the decommissioning of wind turbines in wind farms require the Company&#8217;s Management to estimate long-term dismantling costs and
the time remaining until the dismantling.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Technology, costs and political, environmental
and safety considerations constantly change and may result in differences between actual future costs and estimates.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Asset retirement obligations&#8217; and
the decommissioning of wind turbines&#8217; estimates are adjusted at least once a year or more frequently if there are changes in the
assumptions considered in the assessment.</P>


<!-- Field: Page; Sequence: 113 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->105<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.5 <U>Impairment of financial assets
and other credits</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Group is exposed to losses for uncollectible
receivables. The Company Management estimates the final collectability of the accounts receivable.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The accounting of expected credit losses
for trade receivables and other receivables with similar risk characteristics is based on the Company's best estimate of the default risk
and the calculation of the expected credit losses rates, based on historical information of the behavior of the Company's clients, current
market conditions and forward-looking estimates at the end of each reporting period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In order to estimate collections related
to the sale of gas and energy in the spot market and revenues associated with natural gas production promotion plans, the Company mainly
considers CAMMESA&#8217;s and federal government&#8217;s capacity to meet its payment obligations to generators and producers, including
the resolutions issued by the SE, which allow the Company to collect its receivables through different mechanisms.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Future adjustments to the allowance may
be necessary if future real economic conditions differ substantially from the assumptions used in the assessment for each year.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.6 <U>Actuarial assumptions in defined
benefit plans</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Commitments with defined benefit plans
to employees are recognised as liabilities in the statement of financial position based on actuarial estimates revised annually by an
independent actuary, using the projected unit credit method.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The present value of defined benefit pension
plan depends on multiple factors that are determined according to actuarial estimates, net of the fair value of the plan assets, when
applicable. For this purpose, certain assumptions are used including the discount rate and wage growth rate assumptions. It may be necessary
to make adjustments in the future if future real economic conditions materially differ from the assumptions used in the valuation of each
year.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.7 <U>Oil and gas reserves</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Reserves include oil and gas volumes (in
m3 of oil equivalent) that are economically producible, in the areas where the Company operates or has a direct or indirect interest and
over which the Company has exploration and exploitation rights.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">There are numerous uncertainties in estimating
proved and unproved reserves, future production profiles, development costs and prices, including several factors beyond the producer&#8217;s
control. Reserve engineering is a subjective process of estimating underground accumulations involving a certain degree of uncertainty.</P>


<!-- Field: Page; Sequence: 114 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->106<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Reserves estimates depend on the quality
of the available engineering and geological data as of the estimation date and on the interpretation and judgment thereof.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Periodic revisions and adjustments to
the estimated oil and gas reserves and related future net cash flows may be necessary as a result of changes in a number of factors, related
to reservoir performance, new drilling, oil and gas prices, cost, technological advances, new geological or geophysical data, and other
economic factors or at least once a year.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s estimates of oil and
gas reserves have been developed by the Company&#8217;s internal specialists, specifically petroleum engineers, and audited by independent
specialists engaged by Company.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company uses the information obtained
from the calculation of reserves in the determination of depreciation of properties, plant and equipment used in oil and gas areas, as
well as assessing the recoverability of these assets and including, when applicable, goodwill allocated to the oil and gas segment (see
Notes 4.6 to 4.9).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.8 <U>Environmental remediation</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The costs incurred to limit, neutralize
or prevent environmental pollution are only capitalized if at least one of the following conditions is met: (a) such costs relate to improvements
in safety; (b) the risk of environmental pollution is prevented or limited; or (c) the costs are incurred to prepare the assets for sale
and the book value of such assets does not exceed their respective recoverable value.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Liabilities related to future remediation
costs are recorded when, on the basis of environmental assessments, such liabilities are probable to materialize, and costs can be reasonably
estimated. The actual recognition and amount of these provisions are generally based on the Company&#8217;s commitment to an action plan,
such as an approved remediation plan or the sale or disposal of an asset. In general, the provision is recognised on the basis that a
future remediation commitment may be required.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company measures liabilities based
on its best estimation of present value of future costs, using currently available technology and applying current environmental laws
and regulations as well as the Company&#8217;s own internal environmental policies.</P>


<!-- Field: Page; Sequence: 115 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->107<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.9 <U>Fair value of financial assets
that are not traded in active markets</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The fair value of financial instruments
that are not traded in active markets is determined using valuation techniques. These valuation techniques consider estimates based on
information available to the Management at Consolidated Financial Statements date, for those significant variables that cannot be observed
in the market, including the discount rate, among others.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Future adjustments may be necessary if
future real economic conditions differ substantially from the assumptions used in the valuation for each period.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">6.1.10 <U>Business Combinations</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The acquisition method involves the measurement
at fair value of the identifiable assets acquired and the liabilities assumed in the business combination at the acquisition date.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For the purpose to determine the fair
value of identifiable assets, the Company uses the valuation approach considered the most representative for each asset. These include:
i) the income approach, through indirect cash flows (net present value of expected future cash flows) or through the multi-period excess
earnings method, ii) the cost approach (replacement value of the good adjusted for loss due to physical deterioration, functional and
economic obsolescence) and iii) the market approach through comparable transactions method.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Likewise, in order to determine the fair
value of liabilities assumed, the Company&#8217;s Management considers the probability of cash outflows that will be required for each
contingency, and elaborates the estimates with assistance of legal advisors, based on the information available and taking into account
the strategy of litigation and resolution / liquidation.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Management critical judgment is required
in selecting the approach to be used and estimating future cash flows. Actual cash flows and values may differ significantly from the
expected future cash flows and related values obtained through the mentioned valuation techniques.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">6.2 Financial risk management</P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">6.2.1 <U>Financial Risk Factors</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">The Company&#8217;s activities are subject
to several financial risks: market risk (including the exchange rate risk, the interest rate risk and the price risk), credit risk and
liquidity risk.</P>


<!-- Field: Page; Sequence: 116 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->108<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Financial risk management is encompassed
within the Company&#8217;s global policies, there is an integrated risk management methodology, where the focus is not placed on the individual
risks of the business units&#8217; operations, but there is rather a wider perspective focused on monitoring risks affecting the whole
portfolio. The Company&#8217;s risk management strategy seeks to achieve a balance between profitability targets and risk exposure levels.
Financial risks are those derived from financial instruments the Company is exposed to during or at the closing of each fiscal year. The
Company uses derivative instruments to hedge certain risks when it deems it necessary according to its risk management internal policies.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Financial risk management is controlled
by the Financial Department, which identifies, evaluates and covers financial risks. Risk management systems and policies are reviewed
on a regular basis to reflect changes in market conditions and the Company&#8217;s activities, and have been applied consistently during
the periods included in these Consolidated Financial Statements. This section includes a description of the main risks and uncertainties
which may adversely affect the Company&#8217;s strategy, performance, operational results and financial position.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.75in; text-align: justify; text-indent: -0.75in"><I>6.2.1.1
Market risks</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">6.2.1.1.1 Foreign exchange risk</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s results of operations
and financial position are exposed to changes in the exchange rate between the Company&#8217;s functional currency, which is the U.S.
dollar and other currencies, primarily with respect to the Argentine peso (which is the legal currency in Argentina). In some cases, the
Company may use derivative financial instruments to mitigate the associated exchange rate risk.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In fiscal year 2023, the U.S. dollar recorded
an approximate 356.3 % increase against the Argentine peso, from $ 177.16 in December 2022 to $ 808.45 in December 2023, and taking into
consideration that during the year the Company mostly had a net passive position in Argentine pesos, as of December 31, 2023 the Company
recorded net foreign exchange gain in the amount of $ 43,550 million. Taking into account the net active financial position in Argentine
pesos as of December 31, 2023, the Company estimates that provided all other variables remain constant, a 10% revaluation/(devaluation)
of U.S. dollar as compared to the Argentine peso would generate in absolute values a (decrease)/increase of $ 4,360 million in the 2023
fiscal year&#8217;s income, before income tax.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">The Group&acute;s exposure to other foreign
currency movements is not material.</P>


<!-- Field: Page; Sequence: 117 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->109<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">6.2.1.1.2 Price risk</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s financial instruments
are not significantly exposed to hydrocarbon international price risks because the current regulatory, economic and governmental policies
in force, prevent oil and gas domestic prices to be directly affected in the short-term due to variations in the international market.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, the Company&#8217;s investments
in financial assets classified as &#8220;at fair value through profit or loss&#8221; are sensitive to the risk of changes in the market
prices resulting from uncertainties as to the future value of such financial assets.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company estimates that provided all
other variables remain constant, a 10% revaluation/(devaluation) of each market price would generate the following increase/(decrease)
in the fiscal year&#8217;s income, before income tax in relation to financial assets at fair value through profit and loss detailed in
Note 12.2 to these Consolidated Financial Statements:</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Increase of the result for the year</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 60%">Financial assets</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 18%">12.31.2023</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 18%">12.31.2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Shares</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">9,918</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3,329</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Corporate bonds</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">6,413</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3,360</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">Government securities&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">31,396</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3,628</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Mutual funds</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">265</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">555</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Variation of the result for the year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">47,992</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">10,872</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">6.2.1.1.3 Cash flow and fair value interest
rate risk</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The management of the interest rate risk
seeks to reduce financial costs and limit the Company&#8217;s exposure to interest rate increases.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Indebtedness at variable rates exposes
the Company to the interest rate risk on its cash flows due to the possible volatility they may experience. Indebtedness at fixed rates
exposes the Company to the interest rate risk on the fair value of its liabilities, since they may be considerably higher than variable
rates.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, 5% of the indebtedness
was subject to variable interest rates. Furthermore, 58% of the Company&#8217;s debt accruing variable interest rates is denominated in
U.S. dollars, mainly at SOFR rate plus an applicable spread. It should be pointed out that there has been no material impact on behalf
of the replacement of the LIBOR reference interest rate effective by the SOFR rate, as from July 2023, on the Company's indebtedness subject
to the mentioned reference rate.</P>


<!-- Field: Page; Sequence: 118 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->110<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company seeks to mitigate its interest-rate
risk exposure through the analysis and evaluation of: (i) the different liquidity sources available in the financial and capital market,
both domestic and (if available) international; (ii) interest rates alternatives (fixed or variable), currencies and terms available for
companies in a similar sector, industry and risk than the Company; (iii) the availability, access and cost of interest-rate hedge agreements.
On doing this, the Company evaluates the impact on profits or losses resulting from each strategy over the obligations representing the
main interest-bearing positions.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the case of fixed rates and in view
of the market&#8217;s current conditions, the Company considers that the risk of a significant decrease in interest rates is low and,
therefore, does not foresee a substantial risk in its indebtedness at fixed rates.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of the date of issuance of these Consolidated
Financial Statements, the Company is not exposed to a significant risk of variable interest rate increases since the 95% of the financial
debt is subject to fixed rate.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table shows the breakdown
of the Company&#8217;s borrowings classified by interest rate and the currency in which they are denominated:</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 60%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 18%">12.31.2023</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 18%">12.31.2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Fixed interest rate:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Argentine pesos</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">26,140</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">10,065</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>U.S. dollar</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">978,404</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">207,897</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Yuan R. China</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4,260</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Subtotal loans obtained at a fixed interest rate</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">1,008,804</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">217,962</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Floating interest rate:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Argentine pesos</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">24,244</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">24,762</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>U.S. dollar</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">33,262</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">26,319</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Subtotal loans obtained at a floating interest rate</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">57,506</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">51,081</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Non interest accrued:</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Argentine pesos</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">9,092</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3,973</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>U.S. dollar</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">95,009</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">12,750</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Yuan R. China</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">128</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Subtotal loans no interest accrued</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">104,229</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">16,723</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total borrowings</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">1,170,539</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">285,766</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Based on the conducted simulations, and
provided all other variables remain constant, a 10% increase/decrease in variable interest rates would generate the following (decrease)/increase
in the 2023 fiscal year's income, before income tax, of $ 3,241 million.</P>


<!-- Field: Page; Sequence: 119 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->111<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.75in; text-align: justify; text-indent: -0.75in"><I>6.2.1.2
Credit risk</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company establishes individual credit
limits according to the limits defined by the Board of Directors and approved by the Financial Department based on internal or external
ratings. The Company makes constant credit assessments on its customers&#8217; financial capacity, which minimizes the potential risk
for bad debt losses.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The credit risk represents the exposure
to possible losses resulting from the breach by commercial or financial counterparties of their obligations taken on with the Company.
This risk stems mainly from economic and financial factors or a possible counterparty default.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The credit risk is associated with the
Company&#8217;s commercial activity through customer trade receivables, as well as available funds and deposits in banking and financial
institutions.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company, in its ordinary course of
business and in accordance with its credit policies, grants credits to a large customer base, mainly large sectors of the industry, including
petrochemical companies, natural gas distributors and electricity large users.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, the Company&#8217;s
trade receivables totaled $ 168,605 million and is classified as current. With the exception of CAMMESA, which represents approximately
48% of such trade receivables, the Company does not have a significant credit risk concentration, as this exposure is distributed among
a large number of customers and other counterparties.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The impossibility by CAMMESA to pay these
receivables may have a substantially adverse effect on cash income and, consequently, on the result of operations and financial situation
which, in turn, may adversely affect the Company&#8217;s repayment capacity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The credit risk of liquid funds and other
financial investments is limited since the counterparties are high credit quality banking institutions. If there are no independent risk
ratings, the Financial Department evaluates the customer&#8217;s creditworthiness, based on past experiences and other factors.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company applies the simplified approach
of IFRS 9 to measure the expected credit losses of trade receivables and other receivables in accordance with the policy described in
Note 4.10.4.</P>


<!-- Field: Page; Sequence: 120 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->112<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The expected credit loss on trade receivables
and financial assets as of December 31, 2023, 2022 and 2021 amounts to $ 373 million, $ 254 million and $ 109 million, respectively and
was determined based on credit loss rates calculated for days past due detailed below:</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="font-weight: bold; width: 25%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">Undue</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 12%">30 days</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">60 days</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">90 days</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">120 days</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">150 days</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">180 days</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">+ 180 days</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD>Generation</TD>
    <TD STYLE="text-align: center">0.32%</TD>
    <TD STYLE="text-align: center">1.26%</TD>
    <TD STYLE="text-align: center">8.33%</TD>
    <TD STYLE="text-align: center">16.63%</TD>
    <TD STYLE="text-align: center">20.72%</TD>
    <TD STYLE="text-align: center">23.46%</TD>
    <TD STYLE="text-align: center">27.00%</TD>
    <TD STYLE="text-align: center">28.96%</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD>Oil and Gas</TD>
    <TD STYLE="text-align: center">0.06%</TD>
    <TD STYLE="text-align: center">0.30%</TD>
    <TD STYLE="text-align: center">2.19%</TD>
    <TD STYLE="text-align: center">3.83%</TD>
    <TD STYLE="text-align: center">5.06%</TD>
    <TD STYLE="text-align: center">10.14%</TD>
    <TD STYLE="text-align: center">10.14%</TD>
    <TD STYLE="text-align: center">10.21%</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD>Petrochemicals</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">28.96%</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD>Holding</TD>
    <TD STYLE="text-align: center">0.18%</TD>
    <TD STYLE="text-align: center">1.04%</TD>
    <TD STYLE="text-align: center">8.44%</TD>
    <TD STYLE="text-align: center">9.09%</TD>
    <TD STYLE="text-align: center">9.09%</TD>
    <TD STYLE="text-align: center">9.09%</TD>
    <TD STYLE="text-align: center">9.09%</TD>
    <TD STYLE="text-align: center">9.09%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="font-weight: bold">12.31.2022</TD>
    <TD STYLE="font-weight: bold; text-align: center">Undue</TD>
    <TD STYLE="font-weight: bold; text-align: center">30 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">60 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">90 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">120 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">150 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">180 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">+ 180 days</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD>Generation</TD>
    <TD STYLE="text-align: center">0.08%</TD>
    <TD STYLE="text-align: center">0.26%</TD>
    <TD STYLE="text-align: center">2.54%</TD>
    <TD STYLE="text-align: center">7.11%</TD>
    <TD STYLE="text-align: center">14.37%</TD>
    <TD STYLE="text-align: center">21.39%</TD>
    <TD STYLE="text-align: center">27.22%</TD>
    <TD STYLE="text-align: center">33.01%</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD>Oil and Gas</TD>
    <TD STYLE="text-align: center">0.18%</TD>
    <TD STYLE="text-align: center">0.48%</TD>
    <TD STYLE="text-align: center">13.24%</TD>
    <TD STYLE="text-align: center">31.50%</TD>
    <TD STYLE="text-align: center">32.01%</TD>
    <TD STYLE="text-align: center">32.09%</TD>
    <TD STYLE="text-align: center">32.31%</TD>
    <TD STYLE="text-align: center">32.38%</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD>Petrochemicals</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD>Holding</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">12.31.2021</TD>
    <TD STYLE="font-weight: bold; text-align: center">Undue</TD>
    <TD STYLE="font-weight: bold; text-align: center">30 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">60 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">90 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">120 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">150 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">180 days</TD>
    <TD STYLE="font-weight: bold; text-align: center">+ 180 days</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Generation</TD>
    <TD STYLE="text-align: center">0.06%</TD>
    <TD STYLE="text-align: center">0.29%</TD>
    <TD STYLE="text-align: center">2.08%</TD>
    <TD STYLE="text-align: center">2.83%</TD>
    <TD STYLE="text-align: center">4.67%</TD>
    <TD STYLE="text-align: center">6.12%</TD>
    <TD STYLE="text-align: center">6.24%</TD>
    <TD STYLE="text-align: center">6.25%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Oil and Gas</TD>
    <TD STYLE="text-align: center">0.04%</TD>
    <TD STYLE="text-align: center">0.17%</TD>
    <TD STYLE="text-align: center">0.77%</TD>
    <TD STYLE="text-align: center">2.72%</TD>
    <TD STYLE="text-align: center">6.88%</TD>
    <TD STYLE="text-align: center">19.88%</TD>
    <TD STYLE="text-align: center">21.97%</TD>
    <TD STYLE="text-align: center">15.89%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Petrochemicals</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.01%</TD>
    <TD STYLE="text-align: center">0.05%</TD>
    <TD STYLE="text-align: center">0.12%</TD>
    <TD STYLE="text-align: center">0.52%</TD>
    <TD STYLE="text-align: center">0.52%</TD>
    <TD STYLE="text-align: center">0.54%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Holding</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.00%</TD>
    <TD STYLE="text-align: center">0.01%</TD>
    <TD STYLE="text-align: center">0.05%</TD>
    <TD STYLE="text-align: center">0.12%</TD>
    <TD STYLE="text-align: center">0.52%</TD>
    <TD STYLE="text-align: center">0.52%</TD>
    <TD STYLE="text-align: center">0.54%</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, although cash, cash equivalents
and financial assets are also subject to the impairment requirements of IFRS 9, the identified impairment loss is immaterial.</P>


<!-- Field: Page; Sequence: 121 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->113<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Allowance of impairment of financial assets
and other credits evolution as of December 31, 2023, 2022 and 2021, is detailed in Note 12.3.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s maximum exposure to
credit risk is based on the book value of each financial asset in the Consolidated Financial Statements. On the basis of the change in
an assumption, while holding all other assumptions constant, a 5% increase/(decrease) in the estimated trade receivables&#8217; uncollectibility
rate would result in $ 60 million (decrease)/increase in 2023 fiscal year&#8217;s results, before income tax.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.75in; text-align: justify; text-indent: -0.75in"><I>6.2.1.3
Liquidity risk</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The liquidity risk is associated with
the Company&#8217;s capacity to finance its commitments and conduct its business plans with stable financial sources, as well as with
the indebtedness level and the financial debt maturities profile. The cash flow projection is made by the Financial Department.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company Management supervises updated
projections on liquidity requirements to guarantee the sufficiency of cash and liquid financial instruments to meet operating and financing
needs of the Company while keeping at all times a sufficient margin of unused credit facilities. In this way, the aim is that the Company
does not breach indebtedness levels or the Covenants, applicable, of any credit facility. Those projections take into consideration the
Company&#8217;s debt financing plans, the meeting of the covenants and, if applicable, the external regulatory or legal requirements such
as, for example, restrictions on the use of foreign currency. Additionally, the Financial Department regularly monitors the available
credit for the Company, both in the local and international capital market as well as in the banking sector.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Excess cash and balances above working
capital management requirements are managed by the Company&#8217;s Treasury Department, which invests them in marketable securities, term
deposits and mutual funds, selecting instruments having proper currencies and maturities, and an adequate credit quality and liquidity
to meet cash needs estimated in the previously indicated projections.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company keeps its sources of financing
diversified between banks and the capital market, and it is exposed to the refinancing risk at maturity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It should be noted that the Company operates
in an economic context in which main variables experience volatility as a result of political and economic events both domestically and
internationally, as described in Note 1.2. that may potentially affect the cost of access to finance for emerging markets in general,
and particularly for Argentina, and which in turn may potentially affect the Company&#8217;s capacity to obtain financing for its operations
in a timely manner and under acceptable and efficient terms, costs and conditions in line with the Company&#8217;s business needs.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 122 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->114<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Furthermore, the restrictions imposed
by the BCRA (see Note 2.5) with the purpose of regulating inflows and outflows in the MLC and other new restrictions which may be imposed
in the future may affect the Company&#8217;s capacity to access the MLC to acquire the foreign currency necessary to meet its financial
obligations, such as debt principal and interest payments (including the CBs debt), and other additional payments abroad, or otherwise
affect the Company&#8217;s business and the results of its operations.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company&#8217;s Management permanently
monitors the evolution of situations affecting its business to determine possible steps to take and identify potential impacts on its
assets and financial position.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">It is worth highlighting that the Company
currently has a strong level of liquidity that allows it to properly face such volatility.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The determination of the Company&#8217;s
liquidity index for fiscal years ended December 31, 2023 and 2022 is detailed below:</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 60%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 18%">12.31.2023</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 18%">12.31.2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Current assets</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,079,172</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">238,183</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Current liabilities</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right">421,682</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; text-align: right">111,698</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Liquidity ratio</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">2.56</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">2.13</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>


<!-- Field: Page; Sequence: 123 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->115<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 6</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table includes an analysis
of the Company trade receivables, other receivables and financial liabilities, grouped according to their maturity dates and considering
the period remaining until their contractual maturity date from the date of the Consolidated Financial Statements. Derivative financial
instruments are included in the analysis if their contractual maturities are essential for the understanding of the cash flow calendar.
The amounts shown in the table are the contractual undiscounted cash flows.</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: left; width: 51%">As of December 31, 2023</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 15%">Trade and other receivables&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 15%">Trade and other payables <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 13%">Borrowings</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Less than three months</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">210,841</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">179,888</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">50,927</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Three months to one year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">10,362</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">11,912</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">190,545</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>One to two years</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">8,074</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">24,695</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">223,709</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Two to five years</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">5,159</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">4,670</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">733,511</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>More than five years</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">7,872</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">247,521</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Non set maturity term</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">18,382</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">64</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">57</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">252,818</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">229,101</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,446,270</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: left">As of December 31, 2022</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Trade and other receivables&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Trade and other payables <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Borrowings</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Less than three months</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">72,957</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">40,826</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">20,883</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Three months to one year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">3,395</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">8,905</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">53,937</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>One to two years</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,051</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">2,195</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">63,213</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Two to five years</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2,078</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">552</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">175,818</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>More than five years</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,010</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">58,903</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Non set maturity term</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">7,262</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">86,743</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">53,488</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">372,754</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt/115% Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Includes Lease Liabilities (see Note 20).</TD>
</TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>6.3 Capital risk management</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The aims of managing capital are to safeguard
its capacity to continue operating as an on-going business with the purpose of generating return for its shareholders and benefits to
other stakeholders, and keeping an optimal capital structure to reduce the cost of capital.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">To keep or adjust its capital structure,
the Company may adjust the amount of the dividends paid to its shareholders, reimburse capital to its shareholders, issue new shares,
conduct stock repurchase programs or sell assets to reduce its debt.</P>


<!-- Field: Page; Sequence: 124 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->116<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 6</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In line with industry practices, the Company
monitors its capital based on the leverage ratio. This ratio is calculated by dividing the net debt by the total capital. The net debt
equals the total indebtedness (including current and non-current indebtedness) minus cash and cash equivalents and current financial assets
at fair value through profit and loss. The total capital corresponds to the shareholders&#8217; equity as shown in the statement of financial
position, plus the net debt.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Financial leverage ratios as at December
31, 2023 and 2022 were as follows:</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; width: 60%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 18%">12.31.2023</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 18%">12.31.2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Total borrowings</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,170,539</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">285,766</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Less: cash and cash equivalents, and financial assets at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(589,856)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(122,613)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Net debt</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">580,683</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">163,153</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Total capital</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">2,524,419</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">566,616</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left">Leverage ratio</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">23.00%</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">28.79%</TD></TR>
  </TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 7</U>: SEGMENT INFORMATION</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company is a fully integrated power
company in Argentina, which participates in the electricity and oil and gas value chains.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Through its own activities, subsidiaries
and share holdings in joint ventures, and based on the business nature, customer portfolio and risks involved, the following business
segments have been identified:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>Electricity Generation</B>, principally
consisting of the Company&#8217;s direct and indirect interests in HINISA, HIDISA, Greenwind, VAR, CTB, TMB, TJSM and through its own
electricity generation activities through thermal plants CTG, CPB, Piquirenda, CTLL, CTGEBA, Ecoenerg&iacute;a, CTPP, CTIW, the HPPL hydroelectric
complex and PEPE II, PEPE III and PEPE IV wind farms. It is worth highlighting that the results of the segment&#8217;s operations reflect
the effects of the consolidation with Greenwind from August 12, 2022 to August 16, 2023 (see Notes 5.2.3 and 5.2.6) and with VAR as from
December 16, 2022 (see Note 5.2.5).</P>


<!-- Field: Page; Sequence: 125 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->117<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 7</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>Electricity Distribution</B>, consisting
of the Company&#8217;s direct interest in Edenor until its disposal (see Note 5.2.1). As of December, 31, 2021, the Company has classified
the related <FONT STYLE="color: #222222">results as discontinued operations</FONT>.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>Oil and Gas</B>, principally consisting
of the Company&#8217;s interests in oil and gas areas and through its direct and indirect interest in CISA.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>Petrochemicals</B>, comprising of the
Company&#8217;s own styrenics operations and the catalytic reformer plant operations conducted in local plants.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>Holding and Other Business</B>, principally
consisting of interests in joint businesses CITELEC and CIESA and their respective subsidiaries, which hold the concession over the high
voltage electricity transmission nationwide and over gas transportation in the South of the country, respectively, interests in the associates
OCP and Refinor (until its divestment detailed in Note 5.2.2), holding activities and financial investment transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">The Company manages its operating segment based on its individual
net result in U.S. dollars.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 126 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->118<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 7</U>:</B> (Continuation)</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-bottom: Black 0.5pt solid; text-align: center">in million of US$</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">in million of $</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left; background-color: white; width: 43%">Consolidated profit and loss information for the year ended December 31, 2023</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 7%">Generation</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 7%">Oil and gas</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 7%">Petrochemicals</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 7%">Holding and others</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 7%">Eliminations</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 7%">Consolidated</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 8%">Consolidated</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Revenue - local market</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">648</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">402</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">359</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">14</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,423</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">429,205</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Revenue - foreign market</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">161</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">148</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">309</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">84,522</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Intersegment revenue</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">103</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(103)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Cost of sales</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(354)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(412)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(444)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">103</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(1,107)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(320,124)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">Gross profit</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">294</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">254</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">63</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">14</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">625</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">193,603</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Selling expenses</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(2)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(49)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(15)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(66)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(19,338)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Administrative expenses</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(50)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(74)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(6)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(55)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(185)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(62,721)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Exploration expenses</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(7)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(7)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(1,859)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Other operating income</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">75</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">86</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">13</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">3</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">177</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">57,141</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Other operating expenses</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(27)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(32)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(7)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(22)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(88)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(29,374)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">(Impairment) Recovery of impairment of property, plant and equipment, intangible assets and inventories</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(38)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(3)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">2</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(39)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(30,784)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Impairment of financial assets</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">283</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Share of profit from associates and joint ventures</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(18)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">16</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(2)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">4,541</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Profit from sale of companies&acute; interest</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">9</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">9</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">6,262</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Operating income</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">272</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">140</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">45</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(33)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">424</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">117,754</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Financial income</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">7</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(6)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">5</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,764</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Financial costs</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(119)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(203)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(3)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(45)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">6</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(364)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(105,359)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Other financial results</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">280</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(15)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">15</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">278</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">558</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">155,089</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Financial results, net</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">163</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(216)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">12</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">240</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">199</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">51,494</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">Profit before income tax</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">435</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">(76)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">57</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">207</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">623</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">169,248</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Income tax</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(225)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">29</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(27)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(95)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(318)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(132,557)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">Profit (Loss) of the year</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">210</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(47)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">30</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">112</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">305</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">36,691</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Depreciation and amortization</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">96</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">166</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">5</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">267</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">79,508</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>


<!-- Field: Page; Sequence: 127 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->119<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 7</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-bottom: Black 0.5pt solid; text-align: center; background-color: white">in million of US$</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center; background-color: white">in million of $</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: left; background-color: white; width: 43%">Consolidated profit and loss information for the year ended December 31, 2023</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 7%">Generation</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 7%">Oil and gas</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 7%">Petrochemicals</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 7%">Holding and others</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 7%">Eliminations</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 7%">Consolidated</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 8%">Consolidated</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Total profit (loss) of the year attributable to:</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Owners of the company</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">207</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(47)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">30</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">112</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">302</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">34,488</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Non-controlling interest</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">3</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">3</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2,203</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; background-color: white">Consolidated financial position information as of Dcember 31, 2023</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Assets</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2,684</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,396</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">157</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">631</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(146)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">4,722</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">3,817,196</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Liabilities</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">729</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,213</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">137</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">376</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(146)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2,309</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,866,500</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Net book values of property, plant and equipment&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,345</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,138</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">27</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">34</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2,544</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2,056,974</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; background-color: white">Additional consolidated information as of December 31, 2023</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Increases in property, plant and equipment and right-of-use assets</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">259</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">556</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">7</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">5</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">827</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">269,922</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 128 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->120<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 7</U>:</B> (Continuation)</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-bottom: Black 0.5pt solid; text-align: center">in million of US$</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">in million of $</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left; background-color: white; width: 40%">Consolidated profit and loss information for the year ended December 31, 2022</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Generation</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Oil and gas</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 8%">Petrochemicals</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">Holding and others</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Eliminations</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 8%">Consolidated</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Consolidated</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Revenue - local market</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">663</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">370</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">425</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">20</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,478</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">196,723</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Revenue - foreign market</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">159</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">192</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">351</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">45,459</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Intersegment revenue</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">117</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(117)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Cost of sales</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(370)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(350)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(536)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">117</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(1,139)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(149,661)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">Gross profit</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">293</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">296</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">81</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">20</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">690</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">92,521</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Selling expenses</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(3)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(45)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(17)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(65)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(8,448)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Administrative expenses</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(39)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(60)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(5)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(38)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(142)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(19,373)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Exploration expenses</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(50)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Other operating income</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">25</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">61</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">44</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">131</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">19,066</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Other operating expenses</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(5)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(26)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(6)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(9)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(46)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(5,952)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Impairment of property, plant and equipment, intangible assets and inventories</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(30)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(2)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(6)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(38)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(4,925)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Impairment of financial assets</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(2)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(2)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(4)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(477)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Share of profit from associates and joint ventures</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">65</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">40</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">105</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">16,089</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Operating income</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">336</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">194</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">52</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">49</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">631</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">88,451</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Financial income</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">9</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(7)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">5</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">768</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Financial costs</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(82)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(107)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(3)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(36)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">7</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(221)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(30,488)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Other financial results</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">72</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(28)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">6</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">116</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">166</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">25,558</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Financial results, net</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(9)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(133)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">3</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">89</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(50)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(4,162)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">Profit before income tax</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">327</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">61</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">55</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">138</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">581</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">84,289</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Income tax</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(73)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(16)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(15)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(20)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(124)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(19,389)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Profit of the year</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">254</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">45</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">40</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">118</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">457</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">64,900</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Depreciation and amortization</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">82</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">125</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">5</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">212</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">27,731</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>


<!-- Field: Page; Sequence: 129 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->121<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 7</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-bottom: Black 0.5pt solid; text-align: center; background-color: white">in million of US$</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center; background-color: white">in million of $</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left; background-color: white; width: 40%">Consolidated profit and loss information for the year ended December 31, 2022</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Generation</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Oil and gas</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 8%">Petrochemicals</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">Holding and others</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Eliminations</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 8%">Consolidated</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 7%">Consolidated</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Total profit of the year attributable to:</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Owners of the company</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">253</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">45</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">40</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">118</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">456</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">64,859</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Non-controlling interest</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">41</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; background-color: white">Consolidated financial position information as of December 31, 2022</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Assets</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2,464</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,234</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">177</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,029</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(162)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4,742</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">840,064</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Liabilities</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">979</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,248</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">147</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">245</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(161)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2,458</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">435,444</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Net book values of property, plant and equipment</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1,299</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">807</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">24</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">34</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,164</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">383,464</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-decoration: underline">Additional consolidated information as of December 31, 2022</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Increases in property, plant and equipment, intangibles assets and right-of-use assets <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8.7pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">115</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">324</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">7</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">36</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">482</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">65,102</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><SUP>(1)</SUP></TD><TD><FONT STYLE="font-size: 9pt">It does not include $ 52,464 million for the incorporation of assets related to the acquisition of the
equity interests detailed in Notes 5.2.3 and 5.2.5</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 130 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->122<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 7</U>:</B> (Continuation)</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-bottom: Black 0.5pt solid; text-align: center">in million of US$</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">in million of $</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left; background-color: white; width: 38%">Consolidated profit and loss information for the year ended December 31, 2021</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Generation</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Distribution<BR>
of energy</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Oil and gas</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 8%">Petrochemicals</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">Holding and others</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Eliminations</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Consolidated</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Consolidated</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Revenue - local market</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">656</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">282</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">310</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">22</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,270</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">121,638</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Revenue - foreign market</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">58</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">180</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">238</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">23,003</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Intersegment revenue</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">113</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(113)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Cost of sales</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(355)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(285)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(424)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">113</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(951)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(90,951)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">Gross profit</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">301</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">168</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">66</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">22</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">557</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">53,690</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Selling expenses</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(2)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(22)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(13)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(37)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,547)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Administrative expenses</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(31)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(46)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(4)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(21)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(102)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(9,777)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Exploration expenses</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(61)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Other operating income</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">42</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">58</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">4</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">105</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">10,196</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Other operating expenses</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(5)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(28)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(3)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(22)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(58)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(5,360)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Impairment of intangible assets and inventories</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(2)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(2)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(4)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(332)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Impairment of financial assets&acute; recovery</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">50</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Share of profit from associates and joint ventures</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">47</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">53</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">100</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">9,894</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Profit from acquisition of companies&acute; interest&nbsp;&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">17</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">17</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,673</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Operating income&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">350</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">130</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">45</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">54</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">579</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">56,426</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Financial income</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">4</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">3</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">4</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(1)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">10</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">847</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Financial costs</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(46)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(103)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(3)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(34)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(185)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(17,512)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Other financial results</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(14)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(16)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(2)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">18</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(14)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,545)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Financial results, net</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(56)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(116)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(5)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(12)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(189)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(18,210)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">Profit before income tax</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">294</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">14</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">40</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">42</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">390</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">38,216</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Income tax</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(75)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">8</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(12)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">2</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(77)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(7,301)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Profit of the year from continuing operations</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">219</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">22</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">28</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">44</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">313</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">30,915</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Loss of the year from discontinued operations</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(75)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(75)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(7,129)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Profit (loss) of the year</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">219</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(75)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">22</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">28</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">44</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">238</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">23,786</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; background-color: white">Depreciation and amortization</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">88</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">114</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">3</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">205</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">19,673</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>


<!-- Field: Page; Sequence: 131 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->123<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 7</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-bottom: Black 0.5pt solid; text-align: center; background-color: white">in million of US$</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center; background-color: white">in million of $</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left; background-color: white; width: 38%">Consolidated profit and loss information for the year ended December 31, 2021</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Generation</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Distribution<BR>
of energy</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Oil and gas</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 8%">Petrochemicals</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">Holding and others</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Eliminations</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Consolidated</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Consolidated</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Total profit (loss) of the year attributable to:</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Owners of the company</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">218</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(39)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">22</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">28</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">44</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">273</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">27,097</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Non-controlling interest</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(36)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(35)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,311)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-decoration: underline; font-weight: bold">Consolidated financial position information as of December 31, 2021</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Assets</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,670</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,157</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">176</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,067</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(209)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">3,861</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">396,653</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Liabilities</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">525</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,324</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">166</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">264</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(209)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2,070</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">212,613</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Net book values of property, plant and equipment</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">969</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">636</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">22</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">32</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,659</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">170,390</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-decoration: underline">Additional consolidated information as of December 31, 2021</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Increases in property, plant and equipment, intangible assets and right-of-use assets</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">39</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">213</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">264</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">25,506</TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 132 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->124<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 8</U>: REVENUE</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 49%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 15%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 15%">12.31.2022</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 13%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Energy sales in spot market</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">59,504</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">28,080</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">16,016</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Energy sales by supply contracts</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">110,823</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">46,122</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">36,388</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Fuel supply</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">23,614</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">13,218</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">9,824</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Other sales</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">916</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">465</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">456</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Generation sales subtotal</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">194,857</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">87,885</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">62,684</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Gas sales</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">127,005</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">50,659</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">22,294</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Oil sales</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">34,898</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">17,906</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">9,510</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Other sales</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,480</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,247</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">982</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Oil and gas sales subtotal</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">165,383</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">69,812</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">32,786</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Products from catalytic reforming sales</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">62,892</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">36,533</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">17,826</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Styrene sales</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">23,752</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">12,678</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8,057</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Synthetic rubber sales</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">23,659</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">13,760</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">9,485</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Polystyrene sales</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">38,244</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">18,582</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">11,409</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Other sales</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">740</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">366</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">260</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Petrochemicals sales subtotal</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">149,287</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">81,919</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">47,037</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Technical assistance and administration services sales</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">4,010</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2,513</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2,109</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Other sales</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">190</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">53</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">25</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Holding and others subtotal</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">4,200</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">2,566</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">2,134</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total revenue <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">513,727</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">242,182</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">144,641</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">Revenues from CAMMESA represent 33%, 31% and 38% of total revenues
for the fiscal years ended December&nbsp;31, 2023, 2022 and 2021, respectively, and correspond mainly to the Generation and Oil &amp;
Gas segments</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 133 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->125<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 9</U>: COST OF SALES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 48%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 15%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 15%">12.31.2022</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 15%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Inventories at the beginning of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">30,724</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">15,888</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9,766</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Plus: Charges of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Purchases of inventories, energy and gas&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">130,105</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">67,091</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">42,154</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Salaries and social security charges</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">26,136</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">10,593</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5,685</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Employees benefits</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5,110</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,052</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,232</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Defined benefit plans</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,130</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">659</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">424</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Works contracts, fees and compensation for services</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">33,697</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">12,844</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7,054</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Property, plant and equipment depreciation</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">75,698</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">26,397</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">18,594</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Intangible assets amortization</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,398</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">188</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">70</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Right-of-use assets amortization</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">233</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">381</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">510</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Energy transportation</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,819</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,086</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">617</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; text-align: left">Transportation and freights</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">6,055</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,344</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,237</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Consumption of materials</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7,478</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3,751</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,334</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Penalties</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">687</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">199</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">185</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Maintenance</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">14,982</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">8,068</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4,993</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Canons and royalties</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">28,316</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">11,998</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">6,291</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Environmental control</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,309</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">612</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">348</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Rental and insurance</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7,781</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3,518</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,358</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Surveillance and security</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,610</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">559</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">276</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Taxes, rates and contributions</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,798</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">633</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">364</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Other</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">966</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">422</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">367</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Total charges of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">348,308</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">153,395</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">95,093</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Exchange differences on translation</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">107,115</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">11,102</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,980</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Less: Inventories at the end of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(166,023)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(30,724)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(15,888)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Total cost of sales</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">320,124</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">149,661</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">90,951</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 134 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->126<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 10</U>: OTHER ITEMS OF THE STATEMENT OF COMPREHENSIVE
INCOME</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">10.1 Selling expenses</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 51%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 15%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 15%">12.31.2022</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 15%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Salaries and social security charges</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,606</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">607</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">322</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Employees benefits</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">185</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">69</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">31</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Fees and compensation for services</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,160</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">510</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">279</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Property, plant and equipment depreciation</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Taxes, rates and contributions</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4,177</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,865</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,075</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Transportation and freights</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">11,940</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5,213</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,750</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Other</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">261</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">180</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">87</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total selling expenses</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">19,338</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">8,448</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">3,547</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">10.2
Administrative expenses</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 51%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 15%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 15%">12.31.2022</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 15%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Salaries and social security charges</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">17,518</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">6,579</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3,276</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Employees benefits</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3,099</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,080</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">494</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Defined benefit plans</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5,020</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,119</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">692</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Fees and compensation for services</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9,330</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3,947</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3,011</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Compensation agreements</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">17,475</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,825</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Directors' and Sindycs' fees&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,937</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">873</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">634</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Property, plant and equipment depreciation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,170</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">761</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">496</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Consumption of materials</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">79</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">26</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">46</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Maintenance</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">738</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">297</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">160</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Transport and per diem</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">731</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">252</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">63</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Rental and insurance</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">156</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">91</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">79</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Surveillance and security</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">311</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">126</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">47</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Taxes, rates and contributions</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3,039</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">944</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">442</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Communications</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">293</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">184</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">100</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Other</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">825</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">269</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">137</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total administrative expenses</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">62,721</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">19,373</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">9,777</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">10.3
Exploration expenses</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 51%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 15%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 15%">12.31.2022</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 15%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Geological and geophysical expenses</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">157</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">50</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">29</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Derecognition of unproductive wells&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,702</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">32</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total exploration expenses</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,859</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">50</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">61</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>


<!-- Field: Page; Sequence: 135 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->127<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 10</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">10.4
Other operating income and expenses</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 48%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 5%">Note</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 14%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 14%">12.31.2022</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 14%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; background-color: white">Other operating income</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Insurance recovery</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">418</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">54</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">297</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Services provided to third parties</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">186</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">132</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">150</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Results from property, plant and equipment sale and derecognition</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">108</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">248</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">134</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Result from intangible assets sale</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">252</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">146</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Contingencies recovery</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">114</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">66</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,198</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Tax charges recovery</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">51</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">43</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">151</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Expenses recovery</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,884</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Dividends received</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">75</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">13</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Commercial interests</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">21,974</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,841</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,572</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Contractual indemnity</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,361</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">GasAr Plan</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">17,496</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7,489</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,973</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Compensation for arbitration award <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6,447</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Fair value of consortiums' previous interest&nbsp;</TD>
    <TD STYLE="font-weight: bold; background-color: white">5.2.6</TD>
    <TD STYLE="color: white; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">2,485</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Export Increase Program</TD>
    <TD STYLE="font-weight: bold; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">8,394</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Other</TD>
    <TD STYLE="color: white; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,595</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">494</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">562</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Total other operating income</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">57,141</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">19,066</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">10,196</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; background-color: white">Other operating expenses</TD>
    <TD STYLE="color: white; text-decoration: underline; vertical-align: bottom; background-color: white"><U>&nbsp;</U></TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Provision for contingencies</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(4,240)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(555)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,510)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Provision for environmental remediation</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,820)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(66)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,409)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Results from property, plant and equipment sale and derecognition</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,300)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Tax on bank transactions&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(5,131)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,865)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,208)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">PAIS import tax</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2,801)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Donations and contributions</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(721)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(289)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(187)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Institutional promotion</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,399)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(431)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(323)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Costs of concessions agreements completion</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(695)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Contractual penalty</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,361)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Readjustment of investment plan <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,011)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Royalties GasAr Plan</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2,405)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,083)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(447)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Ecuador's transactional agreement&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,503)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Impairment of other receivables</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,613)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Other contractual expenses</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,510)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Other</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2,875)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(652)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(276)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Total other operating expenses</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(29,374)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(5,952)</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(5,360)</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B><U></U></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt/115% Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Corresponding to the final award rendered on August 3, 2022 by the Arbitration Court partially
upholding EcuadorTLC&#8217;s (currently PB18) claim against Petroecuador for certain breaches of the transportation agreement executed
on December 31, 2008.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(2)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Corresponding to the investment plan&#8217;s readjustment bond at the Sierra Chata block
approved by Provincial Executive Order No. 1,262/22 dated June 29, 2022.</TD>
</TR></TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 136 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->128<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 10</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">10.5
Financial results</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; background-color: white; width: 48%"><U></U></TD>
    <TD STYLE="color: white; font-weight: bold; text-decoration: underline; vertical-align: bottom; text-align: center; background-color: white; width: 5%"><U>&nbsp;</U></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 15%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 15%">12.31.2022</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 15%">12.31.2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-decoration: underline">Financial income</TD>
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: center; background-color: white"><U></U></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Financial interests&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">673</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">175</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">47</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Other interests</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,076</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">593</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">800</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Other financial income</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">15</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Total financial income</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">1,764</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">768</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">847</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; background-color: white"><U></U></TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-decoration: underline">Financial costs</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Financial interests <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(88,294)</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(23,565)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(12,913)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Commercial interests</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(216)</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(83)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(30)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Fiscal interests</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(13,253)</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(5,428)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,726)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Other interests</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,176)</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(709)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(276)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Bank and other financial expenses</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,420)</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(703)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(567)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Total financial costs</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(105,359)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(30,488)</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(17,512)</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; background-color: white"><U></U></TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle">Other financial results</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Foreign currency exchange difference, net</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">43,550</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">11,398</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">150</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Changes in the fair value of financial instruments</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">115,061</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">17,543</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,477)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Result from present value measurement</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(3,594)</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(2,040)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(156)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Result from exchange of CB</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,997)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Result from repurchase of CB</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">72</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">670</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Other financial results</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(16)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(62)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Total other financial results</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">155,089</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">25,558</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(1,545)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Total financial results, net</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right">51,494</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right">(4,162)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right">(18,210)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">Net of $ 6,677 million and $ 1,672 million capitalized in property, plant
and equipment for the years ended December 31, 2023 and 2022, respectively. There are no capitalized borrowing costs in the fiscal year
ended December 31, 2021.</FONT></TD></TR></TABLE>


<!-- Field: Page; Sequence: 137 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->129<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 10</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">10.6
Income tax</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The breakdown of income tax charge is:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 51%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 15%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 15%">12.31.2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 15%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Current tax&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">14,587</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">5,718</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">6,439</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Deferred tax&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">117,515</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">15,887</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">844</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Difference between previous fiscal year income tax provision and the income tax statement</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">455</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(2,216)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">18</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Total income tax -&nbsp;&nbsp;Loss</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">132,557</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">19,389</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">7,301</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Below is a reconciliation between income
tax expense and the amount resulting from application of the tax rate on the income before taxes:</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 51%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 15%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 15%">12.31.2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 15%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Profit before income tax</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">169,248</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">84,289</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">38,216</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Current income tax rate</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: white">35%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: white">35%</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: white">35%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Income tax at the statutary tax rate</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">59,237</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">29,501</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">13,376</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Share of profit from companies</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">(1,590)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">(5,631)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">(3,998)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Non-taxable results</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(5,117)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(113)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(96)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Effects of exchange differences and other results associated with the valuation of the currency, net</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">290,275</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">37,573</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">7,368</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Effects of valuation of property, plant and equipment, intangible assets and financial assets</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(383,269)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(77,161)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(25,626)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Effect for tax inflation adjustment</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">169,492</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">33,415</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">16,085</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Effect of change in tax rate&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(550)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Unrecognized deferred assets</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">362</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Difference between previous fiscal year income tax and deferred tax provision and the income tax statement</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1,019</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">227</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">77</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Non-deductible cost</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">1,978</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">903</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">301</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Impairment on deferred tax assets</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">544</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Other</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">532</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">131</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">2</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total income tax -&nbsp;&nbsp;Loss</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">132,557</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">19,389</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">7,301</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-indent: -7.1pt">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 138 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->130<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 11</U>: NON-FINANCIAL ASSETS AND LIABILITIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">11.1
Property, plant and equipment</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-bottom: Black 0.5pt solid; text-align: center">Original values</TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 29%">Type of good</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 9%">At the beginning&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 9%">Increases <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7.5pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 9%">Transfers</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 9%">Decreases&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 9%">Impairment</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 9%">Traslation effect</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 9%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">At the end&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Lands</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">2,333</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">8,310</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">10,642</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Buildings</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">25,253</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">822</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(832)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">90,566</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">115,809</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Equipment and machinery</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">339,671</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">214</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">52,736</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(51,968)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,243,962</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,584,615</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Wells</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">175,771</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">6,774</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">134,980</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(4,515)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(120,159)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">773,678</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">966,529</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Mining property</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">32,077</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">7,201</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4,800</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(15,018)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">131,093</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">160,153</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Vehicles</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,365</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">443</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">138</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(240)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">6,320</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">8,026</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Furniture and fixtures and software equipment</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">10,635</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">423</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">668</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(85)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">39,237</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">50,878</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Communication equipments</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">223</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">793</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,016</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Materials, spare parts and tools</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">6,304</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">24,983</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(27,805)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">30,696</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">34,178</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Petrochemical industrial complex</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">5,158</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">31</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">812</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">20,046</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">26,047</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Civil works</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">557</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">3,896</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(429)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">15,419</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">19,443</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Work in progress</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">44,316</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">192,446</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(134,886)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(87)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">234,918</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">336,707</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Advances to suppliers</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">7,718</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">30,107</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(36,161)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(2)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">51,116</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">52,778</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Other goods</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">78</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">276</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">354</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left">Total at 12.31.2023</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">651,459</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">262,622</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(58,159)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(135,177)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">2,646,430</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">3,367,175</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">Total at 12.31.2022</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">311,688</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">108,458</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(336)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(12,469)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">244,118</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">651,459</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt; color: #222222">Includes $ 6,677 million and $ 1,672 million corresponding
to capitalized financial costs in the fiscal year ended December 31, 2023 and 2022.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/115% Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-indent: -7.1pt">Additionally, as of December 31, 2022,
it includes $ 47,098 million resulting from the incorporation of assets related to the acquisition of the equity interests detailed in
Notes 5.2.3 and 5.2.5.<BR STYLE="clear: both">
</P>


<!-- Field: Page; Sequence: 139 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->131<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 0 21.3pt"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-bottom: Black 0.5pt solid; text-align: center">Depreciation</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 0.5pt solid; text-align: center">Net book values</TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 27%">Type of good</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 8%">At the beginning&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 8%">Decreases&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 8%">For the year <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8.1pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 8%">Impairment</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 8%">Traslation effect</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 8%">At the end&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white; width: 8%">At 12.31.2023 <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8.1pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white; width: 8%">At 12.31.2022</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Lands</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">10,642</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2,333</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Buildings</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(13,342)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">89</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,281)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(51,476)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(67,010)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">48,799</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">11,911</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Equipment and machinery</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(113,166)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">9,475</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(35,646)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(465,852)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(605,189)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">979,426</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">226,505</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Wells</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(104,372)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">1,928</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(34,409)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">91,122</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(421,815)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(467,546)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">498,983</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">71,399</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Mining property</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(23,809)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,900)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">13,599</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(88,285)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(100,395)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">59,758</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">8,268</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Vehicles</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(865)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">230</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(426)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,545)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(4,606)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3,420</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">500</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Furniture and fixtures and software equipment</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(9,137)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">51</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,423)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(34,841)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(45,350)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">5,528</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,498</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Communication equipments</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(174)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(33)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(696)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(903)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">113</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">49</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Materials, spare parts and tools</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(257)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(53)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,005)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,315)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">32,863</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">6,047</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Petrochemical industrial complex</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,664)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,281)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(11,884)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(15,829)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">10,218</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2,494</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Civil works</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(135)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">73</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(421)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,228)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,711)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">17,732</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">422</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Work in progress</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">336,707</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">44,316</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Advances to suppliers</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">52,778</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">7,718</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; background-color: white">Other goods</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(74)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(4)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(269)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(347)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">7</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left">Total at 12.31.2023</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(267,995)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">11,846</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(77,877)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">104,721</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(1,080,896)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(1,310,201)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">2,056,974</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">Total at 12.31.2022</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(141,298)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">53</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(27,162)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">8,787</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(108,375)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(267,995)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">383,464</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 10.9pt"><FONT STYLE="font-size: 9pt; color: #222222"><SUP>(1)</SUP></FONT></TD><TD><FONT STYLE="font-size: 9pt">As of December 31, 2023, the composition of the segments is as follows: Generation: $ 25,980 million;
Oil and gas: $ 50,337 million; and Petrochemicals: US$ 1,535 million; and Holding and others: $ 25 million.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 10.9pt"><FONT STYLE="font-size: 9pt; color: #222222"><SUP>(2)</SUP></FONT></TD><TD><FONT STYLE="font-size: 9pt">As of December 31, 2023, the composition of the segments is as follows: Generation: $ 1,087,964 million;
Oil and gas: $ 919,758 million; Petrochemicals: $ 21,483 million; and Holding and others: $ 27,769 million<FONT STYLE="color: #222222">.</FONT></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 140 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->132<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">11.1.1 <U>Impairment of Property, plant and
equipment</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company regularly monitors the existence
of events or changes in circumstances which may indicate that the book value of property, plant and equipment may not be recoverable in
accordance with the policy described in Notes 4.9 and 6.1.1.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the Generation segment, as of December
31, 2023, 2022 and 2021, the Company did not identify indications that could impact the assumptions considered in the recoverability assessment
performed as of June 30, 2021. It is worth highlighting that the Company has not recorded any property, plant and equipment impairment
losses as a result of that recoverability assessment; however, intangible asset impairment losses were recognized for the HIDISA plant
in the amount of $ 172 million.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023 and June 30, 2022,
due to Company&#8217;s strategic reasons and aiming to focus its investments in the development and exploitation of its unconventional
gas and oil reserves in the Vaca Muerta formation, the Company, in line with the affected block&#8217;s Joint Venture members&#8217; strategy,
decided to reschedule or suspend certain future drilling and workover activities for the next few years, which involved the recategorization
of reserves to contingent resources.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In view of the above-mentioned indications
of impairment, the Company has determined the recoverable amount of the CGU Rinc&oacute;n del Mangrullo and el Tordillo / la Tapera making
up the Oil &amp; Gas segment as of December 31, 2023 and June 30, 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The methodology used in the estimation
of the recoverable amount consisted on calculating each CGU value in use on the present value of future net cash flows expected to be
generated by the CGU, discounted with a rate reflecting the weighted average costs of the invested capital.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Cash flows were prepared based on estimates
on the future behavior of certain key assumptions for the determination of the value in use, including the following: (i) reference prices
for products; (ii) demand projections per type of product; (iii) costs evolution; and; (iv) macroeconomic variables such as inflation
and exchange rates, etc.</P>


<!-- Field: Page; Sequence: 141 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->133<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left"><I>11.1.1.1
Oil &amp; Gas segment</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023 and June 30, 2022,
the recoverability assessment of the affected CGU of the Oil and Gas segment, resulted in the recognition of impairment losses for $ 30,456
million (U$S 37.7 million) in the Rinc&oacute;n del Mangrullo and el Tordillo / la Tapera blocks and $ 3,682 million (US$ 30 million)
in the Rinc&oacute;n del Mangrullo block, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The key assumptions used to calculate
the recoverable amount considered: i) the reschedule or suspension of drilling and workover activities; and ii) a 12.2% and 12.4% after-tax
WACC rate, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, it is important to highlight
that as of December 31, 2023 and 2022, the book value of the Oil and gas segment assets, including the goodwill assigned to the segment,
does not exceed its recoverable value.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 142 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->134<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>11.2 Intangible assets</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Original values</TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; width: 30%">Type of good</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 14%">At the beginning</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 10%">Increase <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 10%">Decrease&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 10%">Impairment recovery&nbsp;&nbsp;(Impairment)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 10%">Traslation effect</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 10%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">At the end</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Concession agreements</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">444</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,583</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2,027</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Goodwill</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">6,131</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">21,847</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">27,978</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Intangible identified in acquisitions of companies</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">17,835</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(10,988)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">49,202</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">56,049</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Digital assets</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,172</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,626)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">411</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">43</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left">Total at 12.31.2023</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">25,582</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(12,614)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">411</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">72,675</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">86,054</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">Total at 12.31.2022</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">4,530</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">18,982</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(2,128)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(780)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">4,978</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">25,582</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="9" STYLE="border-bottom: Black 0.5pt solid; text-align: center">Amortization</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">Type of good</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">At the beginning</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white">For the year</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white">Decrease&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white">Traslation effect</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">At the end</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Concession agreements</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(418)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(25)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(1,533)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,976)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Intangible identified in acquisitions of companies</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(800)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,373)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">650</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(4,657)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6,180)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left">Total at 12.31.2023</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(1,218)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(1,398)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">650</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(6,190)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(8,156)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">Total at 12.31.2022</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(574)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(188)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">(456)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(1,218)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Net book values</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">Type of good</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; text-align: center; border-top-color: Black; border-top-width: 0.5pt">At 12.31.2023&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; text-align: center; border-top-color: Black; border-top-width: 0.5pt">At 12.31.2022</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Concession agreements</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">51</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">26</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Goodwill</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">27,978</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">6,131</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Intangible identified in acquisitions of companies</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">49,869</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">17,035</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Digital assets</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">1,172</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left">Total at 12.31.2023</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">77,898</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">Total at 12.31.2022</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">24,364</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/50% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/50% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/50% Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 8pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">As of December 31, 2022, it includes $ 15,366 million for the incorporation
of assets from the acquisition of equity interests detailed in Notes 5.2.3 and 5.2.5.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 8pt"><SUP>(2)</SUP></FONT></TD><TD><FONT STYLE="font-size: 8pt">The sale of the digital assets at market price resulted in the recording of an impairment recovery for
$ 411 million (US$ 2 million) as of December 31, 2023. As of December 31, 2022, the recoverability of the digital assets was affected
by their market value at closing, resulting in the recording of impairment losses for $ 780 million (US$ 6 million).</FONT></TD></TR></TABLE>


<!-- Field: Page; Sequence: 143 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->135<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>11.3 Deferred tax assets and liabilities</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">The composition of the deferred tax assets and liabilities is as follows:</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 37%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 10%">12.31.2022</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 10%">Profit (loss)</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 11%">Traslation effect</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 12%">Sale of subsidiary</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 10%">12.31.2023</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Tax loss carryforwards</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,294</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">50,257</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">62,963</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">116,514</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Property, plant and equipment</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">26,765</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(26,660)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">105</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Intangible assets</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(1)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">71</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">56</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">127</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Trade and other receivables</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">592</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(990)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">769</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(5)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">366</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Provisions</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">10,472</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(4,142)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">36,212</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">42,542</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Salaries and social security payable&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">134</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(60)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">466</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">540</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Defined benefit plans</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,356</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(2,704)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,691</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,343</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Trade and other payables</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">40</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">10</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">208</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">258</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Other</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">195</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(505)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">310</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Deferred tax asset</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">42,850</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">15,276</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">105,675</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(5)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">163,796</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Property, plant and equipment</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(14,021)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(109,909)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(71,008)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">15,737</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(179,201)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Intangible assets</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6,209)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(11,429)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(9,622)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">31</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(27,229)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Investments in companies</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,332)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(320)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(3,691)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(5,343)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Inventories</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3,281)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(9,917)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(23,442)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(36,640)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,718)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(1,838)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(10,079)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">67</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(14,568)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Trade and other receivables</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3,928)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">3,660</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(8,309)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">395</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(8,182)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Taxes payables</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(322)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">455</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(455)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(322)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Tax inflation adjustment</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(24,567)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(2,952)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(105,171)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">680</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(132,010)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Other</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(541)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(444)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(985)</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: bottom">Deferred tax liability</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(56,378)</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(132,791)</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(232,221)</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">16,910</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(404,480)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">Deferred tax (liability) asset</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">(13,528)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(117,515)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">(126,546)</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">16,905</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">(240,684)</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 144 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->136<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 38%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 10%">12.31.2021</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 10%">Profit (loss)</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 11%">Traslation effect</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 11%">Increases for incorporation</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 10%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Tax loss carryforwards</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,307</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">393</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,594</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,294</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Property, plant and equipment</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8,299</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7,245</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">11,221</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">26,765</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Intangible assets</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">284</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(297)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">13</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Trade and other receivables</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">471</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(126)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">247</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">592</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Provisions</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5,812</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">420</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,240</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">10,472</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Salaries and social security payable&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">31</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(62)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">165</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">134</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Defined benefit plans</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">912</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(692)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,136</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,356</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Trade and other payables</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">24</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">19</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">40</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Tax inflation adjustment</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(4)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Other</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">32</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">94</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">69</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">195</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Deferred tax asset</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">17,180</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">6,966</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">18,691</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">13</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">42,850</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Property, plant and equipment</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(17)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,891)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(12,113)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(14,021)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Intangible assets</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,347)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(980)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3,880)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6,209)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Investments in companies</TD>
    <TD STYLE="text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,124)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">584</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(792)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(1,332)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Inventories</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,009)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,139)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,133)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3,281)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,428)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,319)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">29</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2,718)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Trade and other receivables</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3,154)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">849</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,684)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">61</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3,928)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Taxes payables</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(322)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">175</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(175)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(322)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Tax inflation adjustment</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(104)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(20,110)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2,234)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2,119)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(24,567)</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: bottom">Deferred tax liability</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(8,505)</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(22,853)</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(6,969)</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(18,051)</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(56,378)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">Deferred tax asset&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">8,675</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(15,887)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">11,722</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(18,038)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(13,528)</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">Deferred tax assets and liabilities are offset in the following cases:
a) when there is a legally enforceable right to offset tax assets and liabilities; and b) when deferred income tax charges are associated
with the same fiscal authority. The following table shows the figures disclosed on the Consolidated Statement of Financial Position, which
for its determination, were adequately compensated:</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 6%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Deferred tax asset</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">6,326</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Deferred tax liability</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(240,686)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(19,854)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Deferred tax liability</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(240,684)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(13,528)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 145 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->137<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>11.4 Inventories</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: top; background-color: white; width: 56%"><U></U></TD>
    <TD STYLE="text-decoration: underline; vertical-align: top; background-color: white; width: 6%"><U></U></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 17%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 17%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: top; text-align: left">Current</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Materials and spare parts</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">103,969</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">18,489</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Advances to suppliers</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,627</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,458</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">In process and finished products</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">58,427</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">10,777</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">Total <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">166,023</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">30,724</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #222222"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">It includes impairment loss as a result of the performed recoverability assessment
for $ 739 million (US$ 3 million) and $ 463 million (US$ 2 million) as of December 31, 2023 and 2022, acoording with the policy described
in Note 4.13.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>11.5 Provisions</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 8%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 17%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: bottom; text-align: left">Non-Current</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Contingencies</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">88,042</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">19,031</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Asset retirement obligation and wind turbines decommisioning</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">19,463</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,453</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Environmental remediation</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">12,358</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,578</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top">Total non-current</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">119,863</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">26,062</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: top; text-align: left">Current</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Contingencies</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">16</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">Asset retirement obligation and wind turbines decommisioning</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,775</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">400</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Environmental remediation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">917</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">357</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Other provisions</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">957</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top">Total current</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">4,649</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">779</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>


<!-- Field: Page; Sequence: 146 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->138<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/50% Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The evolution of the provisions is set out below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">12.31.2023</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 47%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">Contingencies</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 15%">Asset retirement obligation and wind turbines decommisioning</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 16%">Environmental remediation</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>At the beginning of the year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">19,047</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4,853</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2,935</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Increases</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">6,194</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">3,685</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,437</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Decreases</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(1,243)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(307)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Exchange differences on translation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">64,151</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">15,059</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">10,062</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Decrease for subsidiaries sales</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(280)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Reversal of unused amounts</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(107)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,079)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(852)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">At the end of the year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">88,042</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">22,238</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">13,275</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Contingencies</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Asset retirement obligation and decommisioning&nbsp;&nbsp;of wind turbines</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Environmental remediation</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>At the beginning of the year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">10,887</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2,217</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,805</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Increases</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">697</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">898</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">95</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Increases for incorporation</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">177</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Decreases</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(179)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(21)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(111)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Exchange differences on translation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7,708</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,736</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,248</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Reversal of unused amounts</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(66)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(154)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(102)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">At the end of the year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">19,047</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">4,853</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">2,935</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/50% Times New Roman, Times, Serif; margin: 0"></P>


<!-- Field: Page; Sequence: 147 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->139<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 7.1pt; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 47%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">Contingencies</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 15%">Asset retirement obligation and decommisioning&nbsp;&nbsp;of wind turbines</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 16%">Environmental remediation</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>At the beginning of the year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">8,660</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,798</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">216</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Increases</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,615</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">345</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,437</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Decreases</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(35)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(105)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(38)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Exchange differences on translation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,845</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">412</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">201</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Reversal of unused amounts <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8.9pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,198)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(233)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(11)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">At the end of the year</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">10,887</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">2,217</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,805</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Includes recovery of contingencies of US$ 12.5 million related to the waive of the timely
granted dispatch of Las Armas Wind Farm (see Note 2.1.2.3).</TD>
</TR></TABLE>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">11.5.1
<U>Provision for Environmental remediation</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company is subject to extensive environmental
regulations in Argentina. The Company&#8217;s management believes that its current operations are in compliance with applicable environmental
requirements, as currently interpreted and enforced, including regulatory remediation commitments assumed. The Company undertakes environmental
impact studies for new projects and investments and, to date, environmental requirements and restrictions imposed on these new projects
have not had any material adverse impact on Pampa&#8217;s business.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In particular, the Province of La Pampa
has submitted a claim to the Company regarding the abandonment of certain wells and the execution of certain tasks associated with the
relinquishment of the Jag&uuml;el de los Machos and Medanito blocks, which took place in 2015 and 2016, respectively. The Company has
challenged the different administrative acts passed by the provincial authorities (including a governor&#8217;s executive order) and is
addressing claims for the Jag&uuml;el de los Machos block in the judicial jurisdiction. Even though the province answered the complaint
in the month of March 2021, the Company has started formal negotiations to resolve the dispute, agreeing on the suspension of procedural
time limits. During 2021, regarding these claims and based on the progress of the ongoing negotiations, the Company recorded provisions
for the estimate of remediation work costs to be incurred in these blocks.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company has performed a sensitivity
analysis relating to the discount rate. The 1% increase or decrease in the discount rate would not have a significant impact on the Company&#8217;s
results of operations.</P>


<!-- Field: Page; Sequence: 148 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->140<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">11.5.2
<U>Asset retirement obligations and wind turbines decommissioning</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Pursuant to the regulations in force in
Argentina, where it develops its oil and gas exploration and production operations, the Company is under an obligation to incur costs
associated with the plugging and abandonment of wells. Furthermore, pursuant to the associated usufruct agreements, the Company is under
an obligation to decommission wind turbines in wind farms. The Company does not have legally restricted assets for the cancellation of
these obligations.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company has performed a sensitivity
analysis relating to the discount rate. The 1% increase or decrease in the discount rate would not have a significant impact on the Company&#8217;s
results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">11.5.3
<U>Provision for legal proceedings</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company (directly or indirectly through
subsidiaries) is a party to several civil, commercial, contentious-administrative, tax, custom and labor proceedings and claims that arise
in the ordinary course of its business. In determining a proper level of provision, the Company has considered its best estimate mainly
with the assistance of legal and tax advisors.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The determination of estimates may change
in the future due to new developments or unknown facts at the time of evaluation of the provision. As a consequence, the adverse resolution
of the evaluated proceedings and claims could exceed the established provision.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, the Company has
recorded provisions for $ 81,171 million (US$ 100.4 million) in relation to the following processes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">-</TD><TD STYLE="text-align: justify">There are a significant number of files pending before the National Tax Court regarding gasoline exports,
where the tax entity challenges the tariff heading assigned by Petrobras Argentina S.A. in 2008-2014. The Treasury&#8217;s position involves
a higher export duty rate.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">-</TD><TD STYLE="text-align: justify">Petrobras Operaciones S.A. (&#8220;POSA&#8221;) has filed an international arbitration claim against the
Company before the International Chamber of Commerce (&#8220;ICC&#8221;) on account of alleged breaches to the Assignment Agreement entered
into between Petrobras Argentina S.A. (currently Pampa) and POSA in 2016 for the transfer of a 33.6% interest in the &#8220;R&iacute;o
Neuqu&eacute;n&#8221; Concession. The breaches alleged by POSA in its arbitration claim consist of the failure to transfer certain assets
associated with the assigned interest, and differences in the calculation of adjustments in the assignment price. The arbitration is conducted
according to the ICC Rules of Arbitration, the applicable law is the one of the Republic of Argentina, and the seat of arbitration is
Buenos Aires, Argentina. On April 30, 2021, POSA filed its claim memorial, and on September 15, 2021, the Company submitted its answer
to the claim memorial and counterclaim. On December 15, 2021, POSA submitted its answer to the counterclaim. As of the date of issuance
of these Consolidated Financial Statements, the arbitration award is pending issuance by the Arbitration Court.</TD></TR></TABLE>


<!-- Field: Page; Sequence: 149 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->141<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">The Company filed an international arbitration claim against Petrobras International Braspetro B.V. (&#8220;PIB
BV&#8221;) on account of fraudulent representations and omissions associated with certain export transactions under the share purchase
agreement executed on May 13, 2016, whereby the Company acquired 67.2% of Petrobras Argentina S.A.&#8217;s capital stock. The arbitration
is held under the ICC Arbitration Rules; the applicable law is the one of the State of New York, and the seat of arbitration is New York.
On April 29, 2021, the Company filed its claim memorial and PIB BV submitted its counter-memorial and counterclaim seeking the payment
of a percentage over the difference between the amount estimated for certain contingencies detected in the purchase process and the amount
actually paid for them. On July 7, 2021, the Company and PIB BV submitted their respective answers. On November 5, 2021, the Company and
PIB BV submitted their replications, and on December 20, 2021, their rejoinders to the complaints. On November 9, 2023, the ICC notified
the parties of the Final Award rendered by the Court on November 2, 2023, resolving to (i) dismiss the Company's claims; (ii) dismiss
most of PIB BV's counterclaims, ordering the Company to pay the amount of US$ 3.2 million plus interest from March 31, 2021; and (iii)
dismiss all other claims of the parties. As of the date of issuance of these Consolidated Financial Statements, the Company has paid PIB
BV the amounts established in the Final Award.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, the Company has recorded
provisions for civil, commercial, administrative, labor, tax and customs complaints brought against the Company corresponding to atomized
claims with individual unsubstantial amounts, as well as charges for judicial costs and expenses which, as of December 31, 2023, amount
to $ 6,872 million (US$ 8.5 million).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>11.6 Income tax and minimum notional
income tax liability</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 17%">12.31.2023</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 17%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left; background-color: white">Non-current</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Income tax, net of witholdings and advances</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">40,472</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">28,568</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Minimum notional income tax</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,142</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,160</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total non-current</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">44,614</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">31,728</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left; background-color: white">Current</TD>
    <TD STYLE="text-decoration: underline; vertical-align: top; text-align: left; background-color: white"><U></U></TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Income tax, net of witholdings and advances</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">14,026</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">927</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total current</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">14,026</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">927</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>


<!-- Field: Page; Sequence: 150 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->142<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 0 0 8pt">11.6.1 <U>Income tax liability</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company accrued the effect of the
tax inflation adjustment in the calculation of the current and deferred income tax provision for each of the fiscal years in which the
cumulative CPI variation provided by Law No. 27,430 was exceeded, except in those cases when, on being interim fiscal periods, the mentioned
legal parameter has not been exceeded for each of the annual periods.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The tax inflation adjustment mechanism
set out in Title VI and different supplementary sections of the Income Tax Law is inconsistent in certain aspects generating a confiscatory
lien, including, but not limited to, the failure to update tax losses and the cost of acquisitions or investments made before January
1, 2018, which bears resemblance with the parameters in re &#8220;Candy S.A.&#8221;, where the CSJN ordered the application of the inflation
adjustment mechanism.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, the Company and
its subsidiaries hold a provision for the additional income tax liabilities that should have been assessed due to the stated reasons.
The amount provisioned for the periods not prescribed and/or those without a final and conclusive judgment in favor of the Company, including
compensatory interest, amounts to $ 40,472 million.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 0 0 8pt">11.6.2 <U>Minimum Notional Income Tax liability</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company and its subsidiaries have
filed a petition for declaratory relief under Sect. 322 of the Federal Code of Civil and Commercial Procedure to gain assurance as to
the application of the minimum notional income tax for the fiscal years 2011-2018 based on CSJN&#8217;s decision in re &#8220;Hermitage&#8221;
passed on June 15, 2010. In this established precedent, the CSJN declared the unconstitutionality of this tax on the grounds that it is
unreasonable and it breaches the taxpaying capacity principle when the absence of taxable income in the period evidences that the income
presumed by the legislator has not existed.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">However, on August 26, 2021, the CSJN
dismissed the tax refund claim lodged by the Company for the 2008 and 2009 periods alleging that, despite the evidenced tax losses, the
existence of accounting profits is a manifestation of the taxpaying capacity and, therefore, the precepts of the Hermitage precedent are
not met.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Considering the CSJN&#8217;s current position,
and the prescribed periods, the Company and its subsidiaries have recorded, for periods presenting tax losses and accounting profits,
liabilities on the amount of the applicable interest on the Notional Income Tax, plus the determined tax provision for those cases in
which Minimum Notional Income Tax is not considered to be computable as an Income Tax advance payment. This liability is disclosed under
&#8220;Non-Current Income tax and minimum notional income tax provision&#8221;. The mentioned liability amounts to $ 4,142 million.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 151 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->143<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>11.7 Tax liabilities</B></P>

<P STYLE="font: 10pt/116% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 17%">12.31.2023</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 17%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left">Current</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Value added tax</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">93</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">847</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Personal assets tax provision&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,418</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">700</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Tax withholdings to be deposited</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,037</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">817</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Royalties</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5,059</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,163</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Other</TD>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,820</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">439</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total current</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">11,427</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">4,966</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>11.8 Defined benefits plans</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The main characteristics of benefit plans
granted to Company employees are detailed below:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 21.25pt">(i)</TD><TD STYLE="text-align: justify"><U>Pension and retirement benefits</U>: Benefit plan whereby Company employees, in some cases covered
by certain collective bargaining agreements, meeting certain conditions are eligible to receive upon retirement, and in some cases, disability
or death, a certain number of salaries according to the provisions of the plan or collective bargain agreement, if applicable.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 21.25pt">(ii)</TD><TD STYLE="text-align: justify"><U>Compensatory plan:</U> Benefit plan whereby some of the Company employees meeting certain conditions
are eligible to receive upon retirement a certain amount according to the provisions of the plan (based on the last computable salary
and the number of years working for the Company) after deducting the benefits from the pension system. The plan, until 2003, called for
a contribution to a fund exclusively by the Company and without any contribution by the employees. These contributions were derived to
a trust fund and were invested in U.S. dollar-denominated money market instruments in order to preserve the accumulated capital and obtain
a return in line with a moderate risk profile. Funds were mainly invested in U.S. government bonds, commercial papers rated A1 or P1,
AAAm- rated mutual funds and time deposits in banks rated A+ or higher in the United States of America, in accordance with the Trust Agreement
dated on March 27, 2002 entered with The Bank of New York Mellon, duly amended by the Permitted Investment Letter dated on September 14,
2006. The Bank of New York Mellon is the trustee and Willis Towers Watson is the managing agent. In case there is an excess, duly certified
by an independent actuary, of the funds to be used to settle the benefits granted by the plan, the Company will be entitled to choose
to use it, in which case it may have to notify the trustee thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 21.3pt; text-align: justify; text-indent: -21.25pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 21.3pt; text-align: justify; text-indent: -21.25pt"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 152 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->144<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 21.3pt; text-align: justify; text-indent: -21.25pt">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 21.3pt; text-align: justify; text-indent: -21.25pt"><B><U>NOTE
11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, 2022 and 2021,
the most relevant actuarial information corresponding to the described benefit plans is the following:</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center">12.31.2023</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">Present value of obligation</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">Present value of assets</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 14%">Net liability at the end of the year</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>At the beginning of the year</TD>
    <TD STYLE="text-align: right">6,725</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(796)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">5,929</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">Items classified in profit or loss&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left">Current services cost</TD>
    <TD STYLE="text-align: right">288</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">288</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left">Past services cost</TD>
    <TD STYLE="text-align: right">128</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">128</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left">Interest cost</TD>
    <TD STYLE="text-align: right">7,757</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,023)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">6,734</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left">Termination of concession contracts costs&acute; decrease</TD>
    <TD STYLE="text-align: right">(173)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(173)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">Items classified in Other comprehensive<BR>
&nbsp;income</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left">Actuarial loss (gain)</TD>
    <TD STYLE="text-align: right">5,351</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,551)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3,800</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Benefit payments</TD>
    <TD STYLE="text-align: right">(839)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(839)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">At the end of the year</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">19,237</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(3,370)</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">15,867</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Present value of obligation</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Present value of assets</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">Net liability at the end of the year</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">At the beginning of the year</TD>
    <TD STYLE="text-align: right">3,390</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(456)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2,934</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">Items classified in profit or loss&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left; background-color: white">Current services cost</TD>
    <TD STYLE="text-align: right">106</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">106</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left; background-color: white">Interest cost</TD>
    <TD STYLE="text-align: right">1,953</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(281)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,672</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">Items classified in Other comprehensive<BR>
&nbsp;income</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 24px; text-align: left; background-color: white">Actuarial loss (gain)</TD>
    <TD STYLE="text-align: right">1,657</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(59)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,598</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Benefit payments</TD>
    <TD STYLE="text-align: right">(381)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(381)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; background-color: white">At the end of the year</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">6,725</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(796)</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">5,929</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 115%"></FONT></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 28.35pt; text-align: justify; text-indent: -28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 28.35pt; text-align: justify; text-indent: -28.35pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 28.35pt; text-align: justify; text-indent: -28.35pt"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 153 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->145<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 28.35pt; text-align: justify; text-indent: -28.35pt"><B><U>NOTE
11</U>:</B> (Continuation)</P>

<P STYLE="font: 8pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">Present value of obligation</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">Present value of assets</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 14%">Net liability at the end of the year</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>At the beginning of the year</TD>
    <TD STYLE="text-align: right">2,132</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(374)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,758</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">Items classified in profit or loss&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 24px; text-align: left">Current services cost</TD>
    <TD STYLE="text-align: right">75</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">75</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 24px; text-align: left">Interest cost</TD>
    <TD STYLE="text-align: right">1,283</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(242)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,041</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">Items classified in Other comprehensive<BR>
&nbsp;income</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 24px; text-align: left">Actuarial loss</TD>
    <TD STYLE="text-align: right">99</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">160</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">259</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Benefit payments</TD>
    <TD STYLE="text-align: right">(199)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(199)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">At the end of the year</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">3,390</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(456)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">2,934</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, 2022 and 2021,
the breakdown of net liabilities per type of plan is as follows: a) $ 8,379 million, $ 2,998 million and $ 1,528 million correspond to
the Pension and Retirement Benefits Plan and b) $ 8,026 million, $ 2,931 million and $ 1,406 million correspond to the Compensatory Plan,
respectively.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">Estimated expected benefits payments for the
next ten years are shown below. The amounts in the table represent the undiscounted cash flows and therefore do not reconcile to the obligations
recorded at the end of the year.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 24px; font-weight: bold; text-align: left; width: 80%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 20%">12.31.2023</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Less than one year</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,695</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">One to two years</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,876</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Two to three years</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,773</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Three to four years</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,483</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Four to five years</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,445</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Six to ten years</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7,275</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"></P>


<!-- Field: Page; Sequence: 154 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->146<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 28.35pt; text-align: justify; text-indent: -28.35pt"><B><U>NOTE
11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Significant actuarial assumptions used were as follows:</P>

<P STYLE="font: 10pt/116% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">12.31.2023</TD>
    <TD STYLE="vertical-align: top; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 14%">12.31.2022</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 14%">12.31.2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Real discount rate</TD>
    <TD STYLE="text-align: center">5%</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center">5%</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center">5%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Real wage increase rate</TD>
    <TD STYLE="text-align: center">1%</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center">1%</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center">1%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Inflation rate</TD>
    <TD STYLE="text-align: center">156%</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center">118%</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center">54%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/116% Times New Roman, Times, Serif; margin: 0"><FONT STYLE="line-height: 116%"></FONT></P>

<P STYLE="font: 10pt/116% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following sensitivity analysis shows the
effect of a variation in the discount rate and salaries increase on the obligation amount:</P>

<P STYLE="font: 10pt/116% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 80%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 20%">12.31.2023</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Discount rate: 4%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Obligation</TD>
    <TD STYLE="text-align: right">20,838</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Variation</TD>
    <TD STYLE="text-align: right">1,601</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">10%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Discount rate: 6%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Obligation</TD>
    <TD STYLE="text-align: right">17,862</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Variation</TD>
    <TD STYLE="text-align: right">(1,375)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(9%)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Real wage increase rate: 0%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Obligation</TD>
    <TD STYLE="text-align: right">18,685</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Variation</TD>
    <TD STYLE="text-align: right">(552)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(3%)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Real wage increase rate: 2%</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Obligation</TD>
    <TD STYLE="text-align: right">19,890</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Variation</TD>
    <TD STYLE="text-align: right">653</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The sensitivity analyses are based on a change
in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions
may be correlated. Therefore, the presented analysis may not be representative of the actual change in the defined benefit obligation.
The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior period.</P>


<!-- Field: Page; Sequence: 155 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->147<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 11</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">11.9
Salaries and social security payable</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 17%">12.31.2023</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white; width: 17%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left; background-color: white">Current</TD>
    <TD STYLE="text-decoration: underline; vertical-align: top; text-align: left; background-color: white"><U></U></TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Salaries and social security contributions</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,361</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">860</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Provision for vacations</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,220</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,500</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Provision for gratifications and annual bonus for efficiency</TD>
    <TD STYLE="vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8,956</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,267</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total current</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">15,537</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">5,627</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 12</U>: FINANCIAL ASSETS AND LIABILITIES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">12.1
Financial assets at amortized cost</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; text-align: justify; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 17%">12.31.2023</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 17%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle">Non-current</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Term deposit</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">17,823</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Notes receivable</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">177</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total non-current</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">18,000</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; background-color: white">Current</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Term deposit</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">81,511</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Notes receivable</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,238</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,357</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Total current</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">84,749</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,357</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">Due to the short-term nature of investments at amortized cost, it
is considered that their book value does not differ from their fair value. For non-current investments at amortized cost, fair values
also do not differ significantly from book values.</P>


<!-- Field: Page; Sequence: 156 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->148<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">12.2
Financial assets at fair value through profit and loss</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 17%">12.31.2023</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 17%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle">Non-current</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Shares</TD>
    <TD STYLE="vertical-align: top; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">28,040</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,867</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total non-current</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">28,040</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">4,867</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle">Current</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Government securities&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">313,964</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">36,281</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Corporate bonds</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">64,125</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">33,600</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Shares</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">71,141</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">28,422</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Mutual funds</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,653</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5,553</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total current</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">451,883</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">103,856</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">12.3
Trade and other receivables</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-decoration: underline; text-align: left; background-color: white; width: 56%"><U></U></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 6%">Note</TD>
    <TD STYLE="text-align: center; background-color: white; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 17%">12.31.2023</TD>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 17%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left; background-color: white">Non-Current</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">55</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">12</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Trade receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">55</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">12</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left; background-color: white">Non-Current</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Related parties</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">16</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">9,040</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,098</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Tax credits</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,004</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">285</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Receivables for sale of associates</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,038</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Contractual indemnity receivable</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,959</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Other</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">428</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">20</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Other receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">14,469</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">3,403</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total non-current</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right">14,524</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right">3,415</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 157 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->149<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 6%">Note</TD>
    <TD STYLE="vertical-align: top; text-align: center; background-color: white; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 17%">12.31.2023</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 17%">12.31.2022</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left">Current</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">84,914</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">24,904</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">CAMMESA</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">80,957</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">29,315</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Related parties</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">16</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,882</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">848</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Impairment of financial assets</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,203)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,039)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Trade receivables, net</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">168,550</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">54,028</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left; background-color: white">Current</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Related parties</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">16</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5,800</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,183</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Tax credits</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7,903</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,555</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Prepaid expenses</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,287</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,525</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Guarantee deposits</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">15,378</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,870</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Expenses to be recovered</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,934</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,611</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Insurance to be recovered</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,589</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Receivables for acquisition of subsidiary</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,182</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Receivables for sale of associates</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,046</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">719</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">GasAr Plan</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8,658</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5,721</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Advances to employees</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8,395</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">48</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Receivables for arbitration award</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6,621</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Contractual indemnity receivable</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,827</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Other</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7,939</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,303</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Impairment of other receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(12)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(38)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Other receivables, net</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">69,744</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">29,300</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">Total current</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">238,294</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">83,328</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">Due to the short-term nature of investments at amortized cost, it
is considered that their book value does not differ from their fair value. For non-current investments at amortized cost, fair values
also do not differ significantly from book values.</P>

<P STYLE="font: 10pt/9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 158 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->150<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0">The movements in the impairment of trade receivables were as
follows:</P>

<P STYLE="font: 10pt/9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left; background-color: white; width: 48%"><U></U></TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">12.31.2023</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">31.12.2022</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">31.12.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">At the beginning of the year</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,039</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">963</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,352</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Impairment</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">365</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">230</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">91</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Utilization</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(166)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Reversal of unused amounts</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(711)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(50)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(546)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Exchange differences on translation</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">510</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">62</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">66</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">At the end of the year</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,203</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,039</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">963</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">The movements in the impairment of other financial assets were as
follows:</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: middle; text-align: left; background-color: white; width: 48%"><U></U></TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: top; text-align: center; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">12.31.2023</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">31.12.2022</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">31.12.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">At the beginning of the year</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">38</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">12</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">14</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Impairment&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">18</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Reversal of unused amounts</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(47)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(3)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(21)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Exchange differences on translation</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">13</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">At the end of the year</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">12</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">38</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">12</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt; line-height: 115%"></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">12.4
Cash and cash equivalents</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 17%">12.31.2023</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 17%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Cash</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">162</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">28</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Banks</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">24,815</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,958</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Mutual funds</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">112,996</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">16,771</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">137,973</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">18,757</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"></P>


<!-- Field: Page; Sequence: 159 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->151<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">12.5
Borrowings</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 17%">12.31.2023</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 17%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: top; text-align: left">Non-Current</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Financial borrowings</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">19,088</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Corporate bonds</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">989,182</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">218,349</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top">Total non-current</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">989,182</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">237,437</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: top; text-align: left">Current</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Bank overdrafts</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">24,857</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">10,514</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Financial borrowings</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">54,376</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">8,970</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">Corporate bonds</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">102,124</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">28,845</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top">Total current</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">181,357</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">48,329</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">1,170,539</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">285,766</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023 and 2022, the
fair values of the Company&#8217;s CB amount approximately to $ 1,091,685 million and $ 254,302 million, respectively. Such values were
calculated on the basis of the determined market price of the Company&#8217;s CB at the end of each year (fair value level 1).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The carrying amounts of short-term borrowings
and bank overdrafts approximate their fair value due to their short-term maturity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The long-term borrowings were measured
at amortized cost, which does not differ significantly from its fair value.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of the date of issuance of these Consolidated
Financial Statements, the Company is in compliance with the covenants established in its indebtedness contracts.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 160 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->152<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">12.5.1. Movements in borrowings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom; width: 49%">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">12.31.2023</TD>
    <TD STYLE="text-align: center; font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">12.31.2022</TD>
    <TD STYLE="text-align: center; font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: top; text-align: center; width: 14%">12.31.2021</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">At the beginning of the year</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">285,766</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">147,795</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">135,805</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Proceeds from borrowings</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">104,018</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">42,148</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">18,929</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Payment of borrowings</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(67,911)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(19,266)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(32,749)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Accrued interest</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">88,286</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">23,562</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">12,911</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Payment of interests</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(87,078)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(21,633)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(13,002)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Repurchase of CB</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,335)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(3,621)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(313)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Result from exchange of CB</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,997</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Result from repurchase of CB</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(72)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(670)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Increases for incorporation</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">11,984</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Foreign currency exchange difference</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(145,461)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(12,556)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">(1,797)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Decrease for subsidiaries sales</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(27,901)</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white">Borrowing costs capitalized in property, plant and equipment</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">6,677</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">1,672</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Exchange differences on translation</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,015,550</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">114,354</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">28,011</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">At the end of the year</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,170,539</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">285,766</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">147,795</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 161 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->153<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">12.5.2 <U>Details of borrowings:</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 23%">Type of instrument</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 8%">Company</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 5%">Currency</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 7%">Residual value</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 9%">Interest</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 17%">Rate</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 17%">Expiration</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 7%">Book value as of 12.31.2023</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left"><U>Corporate bonds</U> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Class 17 CB</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5,980</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Badlar + 2%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">May-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7,161</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Class 15 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">18,264</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Badlar + 0%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Jul-24</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">23,337</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Class 18 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">72</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">5.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Sep-25</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">58,926</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Class 16 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">56</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">4.99%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Nov-25</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">45,238</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Class 9 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">179</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">9.50%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Dec-26</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">148,643</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Class 1 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">597</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">7.50%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Jan-27</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">493,768</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Class 13 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">98</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">0.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Dec-27</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">77,384</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">Class 3 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">293</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">9.13%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Apr-29</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">236,849</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">1,091,306</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left"><U>Financial loans</U> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(2)(3)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">SOFR 6M + 4,21%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Nov-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">6,300</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,000</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Between 80% and 110%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Between Apr-24 and Jun-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">4,121</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">10,421</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white"><U>Other financial loans</U> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(4)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">22</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">SOFR + 0,35%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Jul-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">18,386</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">12</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">SOFR + 0%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Agu-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">9,651</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">14</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Between 13% and 16%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Between Jan-24 and Jun-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">11,530</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">CNY</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">37</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Between 12% and 12.50%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Between Mar-24 and Nov-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">4,388</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">43,955</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white"><U>Bank overdrafts</U> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">23,140</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Between79.00% and 81,00%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Between Jan-24 and Apr-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">24,800</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">56</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">104%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Jan-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">57</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">24,857</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 2pt double; text-align: right; background-color: white">1,170,539</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><SUP>(1)</SUP></TD><TD STYLE="text-align: justify">Net of repurchases for a face value of US$ 113.7 million for 2026 CB, US$ 153.0 million of 2027 CB, and
US$ 7.5 million for 2029 CB.</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><SUP>(2)</SUP></TD><TD STYLE="text-align: justify">During the fiscal year ended December 31, 2023, the Company took out short-term bank loans with local
financial institutions, net of cancellations, for $ 16,535 million and import financing for CNY 37 million. Additionally, it took out
import financing, net, for US$ 6.2 million. Post-closing, the Company took out net import financing for US$1 million and cancelled net
bank debt for $ 100 million.</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><SUP>(3)</SUP></TD><TD STYLE="text-align: justify">Regarding the FINNVERA credit facility and due to the discontinuation of the Libor benchmark interest
rate as from July 2023, on September 5, 2023, Pampa and CACIB (Credit Agricole Corporate &amp; Investment Bank) entered into an amendment
to the credit facility replacing the Libor rate with the Term SOFR rate for debt services after November 2023. In this same line, the
interest rate hedge agreement associated with the credit facility was also amended.</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><SUP>(4)</SUP></TD><TD STYLE="text-align: justify">During the fiscal year ended December 31, 2023, the Company received disbursements in the amount of US$
2.0 million under the credit facilities taken out with BNP Paribas S.A. in 2020.</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 162 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->154<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 23%">Type of instrument</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 8%">Company</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 5%">Currency</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 7%">Residual value</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 9%">Interest</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 17%">Rate</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 17%">Expiration</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 7%">Book value as of 12.31.2022</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left"><U>Corporate bonds</U> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">T Series CB</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">93</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">7.38%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Jul-23</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">16,743</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 8 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,107</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Badlar + 2%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Jul-23</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,549</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 11 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">21,655</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">Badlar + 0%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Jan-24</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">24,737</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 9 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">102</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">9.50%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Dec-26</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">32,671</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 1 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">501</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">7.50%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Jan-27</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">109,127</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 13 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">49</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">0.00%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Dec-27</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8,582</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Class 3 CB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">285</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; background-color: white">9.13%</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Apr-29</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">51,785</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">247,194</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left"><U>Financial loans</U> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">15</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Libor + 4.21%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Nov-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">2,760</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">GW</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">83</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Libor + 5.75%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Sep-26</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">14,919</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">17,679</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white"><U>Other financial loans</U> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(3)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">22</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">SOFR + 0.35%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Jul-23</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,123</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">PAMPA</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: center">US$</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">8</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">Fixed</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">Between 9.50% and 14.50%</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Between Jan-23 and May-23</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,391</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">27</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Variable</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">SOFR + 0%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Agu-24</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,865</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">10,379</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white"><U>Bank overdrafts</U> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left">PAMPA</TD>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">$</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">10,065</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Fixed</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Between 54% and 54.50%</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">Jan-23</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">10,514</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 2pt double; text-align: right; background-color: white">285,766</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt"><SUP>(1)</SUP></FONT></TD><TD><FONT STYLE="font-size: 9pt">Net of the following face value repurchases: US$ 113.7 million of ON 2026, US$ 146.2 million of ON 2027
and US$ 7.5 million of ON 2029.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt"><SUP>(2)</SUP></FONT></TD><TD><FONT STYLE="font-size: 9pt">During the the fiscal year ended December 31, 2022, the Company took on new short-term financing with
domestic financial entities, net of cancellations, for a total $ 8,618 million and import prefinancing for US$ 7.6 million. Additionally,
the Company repaid at maturity two principal installments for the credit facility sponsored by FINNVERA in the amount of US$ 7.7 million
and US$ 10.4 million corresponding to the credit facility subscribed between IDB Invest and Greenwind, a Company that is consolidated
since acquisition of an additional 50% interest in August 2022.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt"><SUP>(3)</SUP></FONT></TD><TD><FONT STYLE="font-size: 9pt">During the fiscal year ended December 31, 2022, the Company received disbursements in the amount of US$
1.3 million under the credit facilities taken out with BNP Paribas S.A. in 2020. After the fiscal year closing, the Company repaid short-term
bank loans with local financial entities for $ 10,065 million and import prefinancing for US$ 0.7 million.</FONT></TD></TR></TABLE>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -10.9pt">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -10.9pt">&nbsp;</P>


<!-- Field: Page; Sequence: 163 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->155<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">12.5.3 <U>Global Program of CB</U></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 30, 2021, the Company&#8217;s General
Ordinary and Extraordinary Shareholders&#8217; Meeting resolved to approve the creation of a new global corporate bonds program for an
amount of up to US$&nbsp;2,000 million or its equivalent in other currencies or units of value, in the form of simple corporate bonds
non-convertible into shares and/or corporate bonds convertible into shares, to renew the program expired on December 29, 2021. The public
offering was authorized by the CNV on December 9, 2021.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0">12.5.4 <U>Issuance of CB Class 8, 11, 13, 15, 16, 17, 18 and
19</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On January 18, 2022, the Company issued
Class 8 CB in the amount of $ 3,107 million at a Badlar rate + 2%, maturing in 18&nbsp;months. This was the first green bond issued by
Pampa and CB issue&acute;s proceeds were allocated to finance the expansion of PEPE VI (see Note 18.1).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On July 15, 2022, the Company issued Class
11 CB for $ 12,690 million, accruing interest at a variable Badlar rate plus an annual 0% spread and maturing on January 15, 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Additionally, on August 8, 2022 the Company
reopened Class 11 CB for $ 8,963.9 million at an issuance price of 1.0305. The total face value of outstanding Class 11 CB amounted to
$ 21,654.6 million.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On December 13, 2022, the Company issued
Clase 13 US$-link CB for US$ 49.9 million at a fixed interest rate of 0% and maturing on December 2027.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On January 11, 2023, the Company issued
Class 15 CB for $ 10,379 million accruing interest at a variable Badlar rate plus an annual 2% spread and maturing on July 11, 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Subsequently, on March 6, 2023, the Company
reopened Class 13 and Class 15 CB for US$ 48.2 million and $ 7,885 million, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 4, 2023, the Company issued Class
16 CB for US$ 55.7 million, with a fixed 4.99% interest rate and maturing on November 4, 2025, as well as Class 17 CB for $ 5,980 million
accruing interest at a variable Badlar rate plus an annual 2% spread and maturing on May 4, 2024. Class 17 CB are the second green bond
issued by Pampa, and proceeds will be destined for financing PEPE VI (see Note 18.1).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The issuance of green bonds reflects the
commitment to financing projects with a positive impact on the environment and to diversifying the country's energy generation matrix.
The issuance of Class 8 and Class 17 CB was recognized by Fix Ratings, an affiliate of Fitch Ratings, with the rating of Green Bond (BV1),
the best possible grade, since it is aligned with the four main components of ICMA (International Capital Market Association) Green Bond
Principles (GBP), and was made in observance of the &#8220;Guidelines for the Issuance of Social, Green and Sustainable Bonds in Argentina&#8221;
of the CNV Rules, the provisions of BYMA&#8217;s Social, Green and Sustainable Guide and the BYMA Rules, making up BYMA&#8217;s Social,
Green and Sustainable Bonds Panel.</P>


<!-- Field: Page; Sequence: 164 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->156<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 18, 2023, the Company repaid at maturity
the total outstanding amount of Class 8 CB for $ 2,283 million.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 8, 2023, the Company issued Class
18 CB for US$ 72.1 million, accruing interest at a fixed 5% rate and maturing on September 8, 2025.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Finally, on December 21, 2023, the Company
early redeemed Class 11 CB for an amount equivalent to the unpaid principal and accrued interest of $ 26,279.5 million.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Post-closing, Pampa redeemed all Class
17 CB, for a total amount of $ 5,980 million. Additionally, on February 29, 2024, the Company issued Class 19 CB for $ 17,131 million
accruing interest at a variable Badlar rate plus an annual -1% spread and maturing on February 28, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">12.5.6 <U>Series T CB Exchange Offer</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On June 16, 2022, the Company launched
an exchange offer for holders of Series T CB maturing in 2023 originally issued by Petrobras Argentina S.A. (currently merged with the
la Company) dated July 21, 2016 for a face value of US$ 500 million, under its Global Program authorized pursuant to CNV Resolution No.
17,162 dated August 15, 2013.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Once the exchange offer expired on July
29, 2022, the information and exchange agent informed the Company that US$ 193.8 million and US$ 213.3 million, representing 38.8% and
42.7% of the Series T CB&#8217; outstanding principal, had been validly tendered for exchange under Option A and Option B, respectively,
totaling a US$ 407.1 million participation and representing approximately 81.4% of the outstanding Series T CB&#8217; capital amount.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Consequently, on August 8, 2022, after
meeting the conditions established in the exchange offer documents, Pampa issued Class 9 CB for a face value of US$ 292.8 million, accruing
interest at an annual fixed 9.5% rate and maturing on December 8, 2026, payable in three consecutive annual installments starting in 2024,
and paid US$ 122.1 million in cash. For each US$ 1,000 of Series T CB&#8217;s capital amount validly tendered and accepted for exchange,
eligible holders received, together with the payment of interest accrued on Series T CB up to the settlement date: (i) Option A: approximately
US$ 377.2 in Class 9 CB and US$ 630.2 in cash; and (ii) Option B: US$ 1,030 in Class 9 CB.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As a result of the debt swap, the Company
disclosed losses for $ 1,997 million (US$ 14 million) under &#8220;Other financial results&#8221; to reflect the change in the payment
estimates discounted at Series T CB&#8217;s original effective interest rate, since they were not deemed substantially different from
the issuance conditions for Class 9 CB, in accordance with IFRS&acute; Accounting Standards.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Later, on May 5, 2023, the Company announced
the redemption of all Series&nbsp;T CB maturing on July 21, 2023, which outstanding balance amounted to US$ 92.9 million.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The redemption took place on June 8, 2023
at a redemption price equivalent to 100% of the outstanding capital amount, plus interest accrued and unpaid as of the redemption date,
plus additional amounts under the Series T CB&#8217;s trust agreement.</P>


<!-- Field: Page; Sequence: 165 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->157<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 12:</U></B> (Continuation)</P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>12.6 Trade and other payables</B></P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 56%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-bottom: Black 0.5pt solid; text-align: center; width: 6%">Note</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 18%">12.31.2022</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="text-decoration: underline; vertical-align: top; text-align: left">Non-Current</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Customer guarantees</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">19</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left">Trade payables</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">19</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 24px; text-decoration: underline; text-align: left"><U></U></TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Compensation agreements&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">22,264</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,769</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Finance leases liability</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">11,686</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,789</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Contractual penalty debt</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">2,959</TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">-</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; text-align: left">Other</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">373</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">195</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left">Other payables</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">37,282</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">3,753</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left">Total non-current</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 2pt double; text-align: right">37,301</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 2pt double; text-align: right">3,757</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-decoration: underline; vertical-align: top; text-align: left; background-color: white">Current</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Suppliers</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">150,402</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">35,109</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Customer advances</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7,138</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">644</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Related parties</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">16</TD>
    <TD STYLE="color: white; vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">11,808</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,506</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">Trade payables</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: top; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">169,348</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">38,259</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: justify; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Compensation agreements&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">8,686</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,085</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Liability for acquisition of companies</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">6,844</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">8,144</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Finance leases liability</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,923</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">319</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Investment plan readjustment liability</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">807</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Contractual penalty debt</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,315</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Debtors</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,484</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Other</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">200</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">117</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">Other payables</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">22,452</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">11,472</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: justify; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: left; background-color: white">Total current</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 2pt double; text-align: right">191,800</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 2pt double; text-align: right">49,731</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Due to the short-term nature of the trade payables
and other payables, their carrying amount is considered to be the same as their fair value. <FONT STYLE="color: #222222">For most other
non-current debts, fair values are also not significantly different from their book values.</FONT></P>


<!-- Field: Page; Sequence: 166 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->158<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12:</U></B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>12.7 Financial instruments by category</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table presents financial instruments
by category:</P>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 35%">As of December 31, 2023</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">Financial assets/liabilities at amortized cost</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">Financial assets/liabilities at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">Subtotal financial assets/liabilities</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">Non financial assets/liabilities</TD>
    <TD STYLE="vertical-align: middle; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">Total</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Assets</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Trade receivables and other receivables</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">225,284</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">5,764</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">231,048</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">21,770</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">252,818</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">Financial assets at amortized cost</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 36px; text-align: left">Term deposit</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">81,511</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">81,511</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">81,511</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 36px; text-align: left">Notes receivable</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">3,238</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3,238</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3,238</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: middle">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 36px; text-align: left">Government securities&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">313,964</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">313,964</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">313,964</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 36px; text-align: left">Corporate bonds</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">64,125</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">64,125</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">64,125</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 36px; text-align: left">Shares</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">99,181</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">99,181</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">99,181</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 36px; text-align: left">Mutual funds</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2,653</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2,653</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">2,653</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Derivative financial instruments</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">250</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">250</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">250</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Cash and cash equivalents</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">24,977</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">112,996</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">137,973</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">137,973</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">335,010</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">598,933</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">933,943</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">21,770</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">955,713</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Liabilities</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Trade and other liabilities</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">221,963</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">221,963</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">7,138</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">229,101</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Borrowings</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,170,539</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,170,539</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,170,539</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Derivative financial instruments</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">191</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">191</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">191</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,392,502</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">191</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,392,693</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">7,138</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,399,831</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">As of December 31, 2022</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Financial assets/liabilities at amortized cost</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center">Financial assets/liabilities at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Subtotal financial assets/liabilities</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Non financial assets/liabilities</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Total</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Assets</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Trade receivables and other receivables</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">77,459</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3,823</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">81,282</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">5,461</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">86,743</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">Financial assets at amortized cost</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 36px; text-align: left">Term deposit</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">17,823</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">17,823</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">17,823</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Notes receivable</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,534</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,534</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,534</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: middle">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 36px; text-align: left">Government securities&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">36,281</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">36,281</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">36,281</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 36px; text-align: left">Corporate bonds</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">33,600</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">33,600</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">33,600</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 36px; text-align: left">Shares</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">33,289</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">33,289</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">33,289</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 36px; text-align: left">Mutual funds</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">5,553</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">5,553</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">5,553</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Derivative financial instruments</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">161</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">161</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">161</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Cash and cash equivalents</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,986</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">16,771</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">18,757</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">18,757</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">98,802</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">129,478</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">228,280</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">5,461</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">233,741</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Liabilities</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Trade and other liabilities</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">52,844</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">52,844</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">644</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">53,488</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Borrowings</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">285,766</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">285,766</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">285,766</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Derivative financial instruments</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">318</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">318</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">318</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">338,610</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">318</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">338,928</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">644</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">339,572</TD></TR>
  </TABLE>




<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The categories of financial instruments
have been determined according to IFRS 9.</P>


<!-- Field: Page; Sequence: 167 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->159<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 12</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The income, expenses, gains and losses
derived from each of the financial instrument categories are indicated below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: left; width: 35%">As of December 31, 2023</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">Financial assets/liabilities at amortized cost</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">Financial assets/liabilities at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">Subtotal financial assets/liabilities</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">Non financial assets/liabilities</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 12%">Total</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Interest income</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,749</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,749</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,749</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Interest expenses</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(88,750)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(598)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(89,348)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(13,591)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(102,939)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">Foreign currency exchange difference, net</TD>
    <TD STYLE="text-align: right">80,790</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(113,225)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(32,435)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">75,985</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">43,550</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Changes in the fair value of financial instruments</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">115,061</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">115,061</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">115,061</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">Result from present value measurement</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(630)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(630)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2,964)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3,594)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Other financial results</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(49)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(49)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,284)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,333)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(6,890)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,238</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(5,652)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">57,146</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">51,494</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: left">As of December 31, 2022</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Financial assets/liabilities at amortized cost</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Financial assets/liabilities at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Subtotal financial assets/liabilities</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Non financial assets/liabilities</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Total</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Interest income</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">768</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">768</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">768</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Interest expenses</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(23,990)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(23,990)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(5,795)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(29,785)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">Foreign currency exchange difference, net</TD>
    <TD STYLE="text-align: right">3,389</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(12,729)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(9,340)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">20,738</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">11,398</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Changes in the fair value of financial instruments</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">17,543</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">17,543</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">17,543</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD COLSPAN="2">Result from present value measurement</TD>
    <TD STYLE="text-align: right">(231)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(231)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,809)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,040)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Other financial results</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(1,455)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,455)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(591)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,046)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Total</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(21,519)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">4,814</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(16,705)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">12,543</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(4,162)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: left">As of December 31, 2021</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Financial assets/liabilities at amortized cost</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Financial assets/liabilities at fair value through profit and loss</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Subtotal financial assets/liabilities</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Non financial assets/liabilities</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Total</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Interest income</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">847</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">847</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">847</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Interest expenses</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(12,964)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(12,964)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3,981)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(16,945)</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">Foreign currency exchange difference, net</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2,562)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(687)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3,249)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,399</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">150</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Changes in the fair value of financial instruments</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,477)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,477)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,477)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD COLSPAN="2">Result from present value measurement</TD>
    <TD STYLE="text-align: right">201</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">201</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(357)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(156)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Other financial results</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(608)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(608)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(21)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(629)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Total</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(15,086)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(2,164)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(17,250)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(960)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(18,210)</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>


<!-- Field: Page; Sequence: 168 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->160<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 12</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>12.8 Fair value of financial Instruments</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company classifies the fair value
measurements of financial instruments using a fair value hierarchy, which reflects the relevance of the variables used to perform those
measurements. The fair value hierarchy has the following levels:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">Level 1: quoted prices (not adjusted) for identical assets or liabilities in active markets.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">Level 2: data different from the quoted prices included in Level 1 observable for the asset or liability,
either directly (i.e. prices) or indirectly (i.e. derived from prices).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">Level 3: Asset or liability data based on information that cannot be observed in the market (i.e., unobservable
data).</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table shows the Company&#8217;s
financial assets and liabilities measured at fair value as of December 31, 2023 and 2022:</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; background-color: white; width: 44%">As of December 31, 2023</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 13%">Level 1</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 13%">Level 2</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 13%">Level 3</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; width: 13%">Total</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Assets</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Financial assets at fair value through <BR>
profit and loss</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Government securities</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">313,964</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">313,964</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Corporate bonds</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">64,125</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">64,125</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Mutual funds</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,653</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,653</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Shares</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">71,141</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">28,040</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">99,181</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Cash and cash equivalents</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Mutual funds</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">112,996</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">112,996</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Derivative financial instruments</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">250</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">250</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">Other receivables</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Guarantee deposits on derivative financial instruments</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5,764</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5,764</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total assets</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">570,643</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">250</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">28,040</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">598,933</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Liabilities</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Derivative financial instruments</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">191</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">191</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Total liabilities</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">191</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">191</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>


<!-- Field: Page; Sequence: 169 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->161<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/50% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; width: 44%">As of December 31, 2022</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 13%">Level 1</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 13%">Level 2</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 13%">Level 3</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white; width: 13%">Total</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Assets</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Financial assets at fair value through <BR>
profit and losss</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Government securities</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">36,281</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">36,281</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Corporate bonds</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">33,600</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">33,600</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Mutual funds</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5,553</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">5,553</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Shares</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">28,422</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,867</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">33,289</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Cash and cash equivalents</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Mutual funds</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">16,771</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">16,771</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom">Derivative financial instruments</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">161</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">161</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">Other receivables</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 36px; vertical-align: bottom; text-align: left">Guarantee deposits on derivative financial instruments</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,823</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,823</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">Total assets</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">124,450</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">161</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">4,867</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">129,478</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">Liabilities</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom; background-color: white">Derivative financial instruments</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">318</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">318</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; background-color: white">Total liabilities</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">318</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">318</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The value of the financial instruments
negotiated in active markets is based on the market quoted prices as of the date of these Consolidated Financial Statements. A market
is considered active when the quoted prices are regularly available through a stock exchange, broker, sector-specific institution or regulatory
body, and those prices reflect regular and current market transactions between parties that act in conditions of mutual independence.
The market quotation price used for the financial assets held by the Company is the current offer price. These instruments are included
in Level 1.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The fair value of financial instruments
that are not negotiated in active markets is determined using valuation techniques. These valuation techniques maximize the use of market
observable information, when available, and rely as little as possible on specific estimates of the Company. If all significant variables
to establish the fair value of a financial instrument can be observed, the instrument is included in Level 2.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If one or more variables used to determine
the fair value cannot be observed in the market, the financial instrument is included in Level 3.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The techniques used for the measurement
of assets at fair value with changes in profit (loss), classified as Level 2 and 3, are detailed below:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt">-</TD><TD STYLE="text-align: justify">Derivative Financial Instruments: calculated from variations between market prices at the closing date
of the year, and the amount at the time of the contract .</TD></TR></TABLE>


<!-- Field: Page; Sequence: 170 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->162<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 12</U>:</B> (Continuation)</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">Shares: it was determined using the income-based approach through the &#8220;Indirect Cash Flow&#8221;
method, that is, the net present value of expected future cash flows, mainly through the collection of dividends taking into consideration
the direct equity interest of 2.84% and 3.19%, and the additional equity interest of 2.18% and 2.46% through HIDISA and HINISA, in TJSM
and TMB, respectively, resulting from the Federal Government&#8217;s restructuring of assets in the energy sector. This restructuring
resulted in TMB&#8217;s and TJSM&#8217;s share transfer from the Federal Government to ENARSA, considering 16.6% and 16.4% discount rate
as of December, 31 2023 and 2022, respectively. The key assumptions were prepared based on estimates on the future behavior of certain
sensitive variables, including: (i) the dividend distribution policy; (ii) reference prices for energy sold in the spot market; (iii)
projections of the availability and dispatch of power plants; (iv) the evolution of structural costs and expenses; (v) macroeconomic variables
such as inflation and exchange rates, etc. The Company recognised earnings for $ 5,828 million (US$ 7.2 million) and losses for $ 302
million (US$ 1.7&nbsp;million) as a result of changes in the fair value of financial instruments classified as level 3, under the item
&#8220;Other financial results&#8221; of the Consolidated Statement of Comprehensive Income, as of December, 31 2023 and 2022, respectively.
Current values may substantially differ from projections, mainly on account of: i) the timeliness and magnitude of the distribution of
dividends, ii) the timeliness and magnitude of energy price updates, and/or iii) the evolution of costs. The Company estimates that any
sensitivity analysis that considers changes in any of the estimates taken individually may lead to distorting conclusions, generating
an adverse effect on the Company&#8217;s results.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 13</U>: EQUITY COMPONENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">13.1
Share capital</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023, the share capital
amounts to $ 1,364 million, including approximately $ 4 million treasury shares.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table shows the translation
differences originated in the share capital and share capital adjustment account, to comply with the CNV Rules:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center">12.31.2023</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 24%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 25%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 25%">Share capital</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 25%">Share capital adjustment</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD COLSPAN="2">At the beginning of the year</TD>
    <TD STYLE="text-align: right">5,117</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">26,760</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD COLSPAN="2">Variation of the year</TD>
    <TD STYLE="text-align: right">22,737</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">118,969</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-weight: bold">At the end of the year</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">27,854</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">145,729</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">Share capital</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">Share capital adjustment</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">At the beginning of the year</TD>
    <TD STYLE="text-align: right">2,392</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">12,503</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">Variation of the year</TD>
    <TD STYLE="text-align: right">2,725</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">14,257</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-weight: bold">At the end of the year</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">5,117</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">26,760</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>


<!-- Field: Page; Sequence: 171 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->163<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 13</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">13.1.1.
<U>Share buyback programs</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Taking into consideration the market volatility
and the persisting divergence between the Company&#8217;s share price and the economic reality its assets currently or potentially have,
which is detrimental to the interests of its shareholders, and considering the Company&#8217;s history of strong cash position and fund
availability, the Board of Directors has implemented several share buyback programs, considering in each case that treasury shares may
not exceed the 10% capital stock capitalization.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">During 2021, the Company directly and
indirectly acquired 2.7 million own ADRs for a value of US$ 38.7 million, and the repurchased shares canceled in full.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">During 2022, the Company indirectly acquired
0.9 million own ADRs for a value of US$ 18.2 million to an average price of US$ 20,3 per ADR, which were canceled in full.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">During 2023, the Company did not acquired
own shares.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">13.1.2
<U>Stock Compensation Plan</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December, 31 2023, 4 million remained
in treasury to be delivered to employees under such plan (see Note 4.17).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; text-align: left">13.1.3
<U>Capital reductions</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">During 2021, the capital stock reduction
approved by the Company&#8217;s General Ordinary and Extraordinary Shareholders&#8217; Meeting held on April 29 and September 30, which
provided for the cancellation of 56.6 million shares and 12.5 million shares, respectively. These reductions are registered in the Public
Registry.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On April 27, 2022, General Ordinary and
Extraordinary Shareholders&#8217; Meeting resolved to reduce the Company&#8217;s capital stock by canceling 2.8 million shares which took
place during October 2022. This reduction was registered with the Public Registry on September 14, 2022.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On April 26, 2023, the Company&#8217;s
General Ordinary and Extraordinary Shareholders&#8217; Meeting resolved to reduce the capital stock through the cancellation of 20.1 million
shares, the reduction taking effect in May 2023. This reduction was registered with the Public Registry on June 28, 2023.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 172 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->164<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 13</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>13.2 Earnings per share</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Basic earnings per share are calculated
by dividing the result attributable to the Company&#8217;s equity interest holders by the weighted average of outstanding common shares
during the year. Diluted earnings per share are calculated by adjusting the weighted average of outstanding common shares to reflect the
conversion of all dilutive potential common shares.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Potential common shares will be deemed
dilutive only when their conversion into common shares may reduce the earnings per share or increase losses per share of the continuing
business. Potential common shares will be deemed anti-dilutive when their conversion into common shares may result in an increase in the
earnings per share or a decrease in the losses per share of the continuing operations.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The calculation of diluted earnings per
share does not entail a conversion, the exercise or another issuance of shares which may have an anti-dilutive effect on the losses per
share, or where the option exercise price is higher than the average price of ordinary shares during the period, no dilutive effect is
recorded, being the diluted earnings per share equal to the basic. As of December 31, 2023, 2022 and 2021, the Company does not hold any
significant potential dilutive shares, therefore there are no differences with the basic earning per share.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 15%">12.31.2023</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 15%">12.31.2022</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 13%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Earning for continuing operations attributable to equity holders of the Company&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">34,488</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">64,859</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">30,823</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Weighted average amount of outstanding shares</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,366</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,381</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,405</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">Basic and diluted earnings per share</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">25.25</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">46.97</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">21.94</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 24px; font-weight: bold; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="padding-left: 24px; font-weight: bold; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Loss for discontinued operations attributable to equity holders of the Company&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,726)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Weighted average amount of outstanding shares</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,405</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Basic and diluted loss per share from<BR>
discontinued operations</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(2.65)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Earning attributable to equity holders of the Company&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">34,488</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">64,859</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">27,097</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Weighted average amount of outstanding shares</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,366</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,381</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,405</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Basic and diluted earning per share</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: right">25.25</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">46.97</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">19.29</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>


<!-- Field: Page; Sequence: 173 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->165<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 13</U>:</B> (Continuation)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">13.3
Profit distributions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dividends distributed to individuals, undivided
estates or beneficiaries residing abroad, derived from profits generated during fiscal years beginning on or January 1, 2018 are subject
to a 7% withholding tax (see Note 2.6.1.2). The distribution of dividends is made based on the Company&#8217;s Stand-Alone Financial Statements
which are presented in pesos, the legal currency in Argentina, pursuant to regulatory requirements.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 14</U>: STATEMENT OF CASH FLOWS&#8217; COMPLEMENTARY
INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">14.1
Adjustments to reconcile net profit to cash flows generated by operating activities</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; width: 47%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 13%">Note</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 12%">12.31.2023</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 12%">12.31.2022</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; width: 12%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Income tax</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">10.6</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">132,557</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">19,389</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7,301</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Accrued interest</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">79,814</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">25,294</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">13,548</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Depreciations and amortizations</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">9, 10.1 and 10.2</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">79,508</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">27,731</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">19,673</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Share of profit of joint ventures and associates</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">5.3.2</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(4,541)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(16,089)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(9,894)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Profit from sale/acquisition of companies&acute; interest&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6,262)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,673)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Results for property, plant and equipment sale and derecognition</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,192</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(248)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(134)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Result for intangible assets sale</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(252)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(146)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Impairment of property, plant and equipment, intangible assets and inventories</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">30,784</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,925</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">332</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">(Recovery of impairment) Impairment of financial assets</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(283)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">477</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(50)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Result from present value measurement</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">10.5</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,594</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,040</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">156</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Changes in the fair value of financial instruments</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(94,399)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(15,244)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,310</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Exchange differences, net</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(48,173)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(12,173)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(150)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Result from exchange of CB</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">10.5</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,997</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Result from repurchase of CB</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.5</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(72)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(670)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Readjustment of investment plan&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,011</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Costs of concessions agreements completion</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">695</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Contractual indemnity</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,361)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Contractual penalty</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,361</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Compensation for arbitration award</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(6,447)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Provision for contingecies, net</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,116</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">489</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">312</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Provision for environmental remediation</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,820</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">66</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,409</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Fair value of consortiums' previous interest</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2,485)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Impairment of other receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,613</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Ecuador's transactional agreement&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,503</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Expenses recovery</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2,884)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Earned dividends</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.4</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(75)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(13)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Accrual of defined benefit plans</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">9 and 10.2</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">7,150</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,778</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,116</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Compensation agreements&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.2</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">17,475</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,825</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">100</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Derecognition of unproductive wells&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">10.3</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,702</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">32</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Other</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(472)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(20)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(111)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Adjustments to reconcile net profit to cash flows from operating activities</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">203,877</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">36,879</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">34,118</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>


<!-- Field: Page; Sequence: 174 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->166<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 14</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">14.2
Changes in operating assets and liabilities</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="width: 57%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; background-color: white; width: 13%">12.31.2023</TD>
    <TD STYLE="text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; background-color: white; width: 13%">12.31.2022</TD>
    <TD STYLE="text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; background-color: white; width: 13%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">(Increase) Decrease in trade receivables and other receivables</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(5,949)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(21,997)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">204</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Increase in inventories</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(28,926)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(4,197)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(4,303)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">(Decrease) Increase in trade payables and other payables</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(39,842)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,482</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,843</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Increase in salaries and social security payables</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">9,823</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,740</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">950</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Defined benefit plans payments</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(839)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(381)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(199)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Increase (Decrease) in tax liabilities</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6,183</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2,841</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(830)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">(Decrease) Increase in provisions</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(2,304)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">19</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(319)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Income tax payment</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(30)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(397)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,191)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">Payments for derivative financial instruments, net</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,585)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(692)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,210)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Changes in operating assets and liabilities</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(63,469)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(20,582)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">(4,055)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">14.3
Significant non-cash transactions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white; width: 57%">&nbsp;</TD>
    <TD STYLE="background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; background-color: white; width: 13%">12.31.2023</TD>
    <TD STYLE="text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; background-color: white; width: 13%">12.31.2022</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; background-color: white; width: 13%">12.31.2021</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Acquisition of property, plant and equipment through an increase in trade payables</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">(61,399)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(13,015)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(5,253)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Borrowing costs capitalized in property, plant and equipment</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(6,677)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(1,672)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Increase of property, plant and equipment through exchange of assets</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(8,684)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Acquisition of subsidiary by delivering financial assets at fair value through profit and loss</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(6,009)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Increase (Decrease) in asset retirement obligation and wind turbines decommision through property, plant and equipment</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,232</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(195)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(61)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Increase in right-of-use assets through an increase in other liabilities</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(7,300)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(126)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(704)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Increase in investments in associates through a decrease in other receivables</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,645)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Decrease in associate's equity interest through increase in other receivables&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">862</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left; background-color: white">Receivables from sales of companies pending collection</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3,829</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Dividends pending collection</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">188</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Receivables for acquisition of subsidiary</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,182</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 175 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->167<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 15</U>: CONTINGENT LIABILITIES AND ASSETS</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">We hereinafter detail the nature of significant
proceedings as of December 31, 2023, not considered as probable by the Company based on the opinion of the Company&#8217;s internal and
external counselors.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">15.1
Labor Claim &#8211; Compensatory Plan</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company faces several legal proceedings
associated with the Defined Benefit Plan &#8220;Compensatory Plan&#8221; (see Note 11.8). We hereinafter describe the nature of currently
pending labor claims:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">Claims on considering that the index (CPI) used to update the plan benefits is ineffective to keep their
&#8220;constant value&#8221;. In two of the causes, the Company obtained a favorable judgment, which has been appealed by the plaintiff.
On the other hand, the Company received an adverse judgment in a claim, consequently, the Company has filed an appeal before the applicable
Chamber.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">Claims on an alleged underfunding of the plan upon the elimination of the Company&#8217;s contributions
based on earnings. The Company obtained a favorable first-instance judgment. The plaintiff filed an appeal, which was sustained by the
Commercial Chamber. Against said pronouncement, the Company filed a Federal Extraordinary Appeal before the CSJN, which was disallowed
by the Appeals Chamber. Consequently, the Company filed a petition in error before the CSJN and an appeal on the grounds of unconstitutionality
before the Supreme Court of Justice of the Autonomous City of Buenos Aires, this Court requested the Chamber to refer back the proceedings
and ordered the hearing of the unconstitutionality appeal the Chamber had dismissed. In view of the Chamber's dismissal, the file was
sent to the CSJN, which will settle the dispute over jurisdiction.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">15.2
Tax claim</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: -21.3pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Georgia, Times, Serif">-</FONT></TD><TD STYLE="text-align: justify">Tax on Liquid Fuels and Natural Gas:</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.25in; text-align: justify">The AFIP filed a claim in the amount
of $ 54 million against the Company for an alleged omission in the payment of Taxes on Liquid Fuels and Natural Gas during fiscal periods
January 2006 through August 2011, plus compensatory interest and a penalty of $ 38 million for such omission. The tax entity supports
its claim on the allegation that the tax benefit granted to sales to areas declared exempt by the tax law has been misappropriated. The
proceeding is currently being heard before the Federal Tax Court, and the evidentiary period has been completed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">15.3
Environmental claims</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Georgia, Times, Serif">-</FONT></TD><TD STYLE="text-align: justify">The Association of Land Owners of Patagonia (ASSUPA) has brought a complaint for an indefinite amount
against the Company and other companies seeking the restoration of the environment to the state prior to the exploration, exploitation,
production, storage and transportation of hydrocarbon works conducted by the plaintiffs and the prevention of alleged future environmental
impacts on certain areas in the Austral Basin. The National Government and the Provinces of Santa Cruz and Tierra del Fuego have been
summoned as third parties. The proceeding is at the complaint answer stage.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 176 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->168<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>NOTE 15</U>:</B> (Continuation)</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">-</TD><TD STYLE="text-align: justify">ASSUPA has instituted a complaint before the CSJN against 10 companies, including the Company. The National
Government and the Provinces of Buenos Aires, La Pampa, Mendoza, Neuqu&eacute;n and R&iacute;o Negro have been summoned as third parties.
The main claim seeks that the plaintiffs should be ordered to redress the alleged environmental damage caused by the hydrocarbon activity
developed in the Neuquina Basin and to set up the environmental restoration fund provided for by section 22 of the General Environmental
Law. Subsidiarily, and in case restoration is not possible, it seeks the redress of the allegedly sustained collective damages for an
amount estimated at US$ 547 million based on a United Nations Development Program report. The proceeding is in the complaint answer stage.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">-</TD><TD STYLE="text-align: justify">Beatriz Mendoza and other 16 plaintiffs brought a complaint before the CSJN against the National Government,
the Province of Buenos Aires, the Government of the Autonomous City of Buenos Aires and 44 companies, including the Company, conducting
industrial activities along the Matanza-Riachuelo River Basin. The plaintiffs seek compensation for alleged damages sustained as a result
of an alleged environmental impact, its cessation, the environmental recomposition and redress, for an estimated amount of US$ 500 million
for the financing of the Matanza-Riachuelo River Basin Environmental Management Plan aiming at the restoration of the basin. The Company's
pecuniary liability would be associated with just two of its assets adjacent to the basin (one of them no longer under its operation).
Regarding the other assets along the basin that were previously operated by it, the Company has sufficient indemnity granted by the facilities&#8217;
assignee company.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">-</TD><TD STYLE="text-align: justify">Inertis S.A. has filed a complaint against the Company for alleged damage to the environment in a lot
owned by this company as a result of the activities conducted by the Dock Sud Plant seeking the redress of alleged damages for a nominal
amount estimated at $ 1 million and US$ 1 million, or the difference between the value of the allegedly affected lot and its valuation.
The proceeding is in the evidentiary stage completed.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">-</TD><TD STYLE="text-align: justify">Fundaci&oacute;n SurfRider Argentina has requested the performance of preliminary proceedings on account
of alleged indications of environmental damage in the City of Mar del Plata. The plaintiff seeks the recomposition of the alleged environmental
damage having collective impact, or the compensation for the alleged damages caused by all companies owning gas stations in the coastal
area of the City of Mar del Plata for an alleged fuel leakage from gas stations&#8217; underground storage tanks into the water, soil
and marine system. The Foundation estimates damages in the amount of $ 200 million. The parties agreed on a stay of the procedural time
limits to evaluate the possibility of reaching an agreement with some co-defendants. Subsequently, the partial agreement reached between
the plaintiff and some co-defendants was ratified. On its part, the Company has requested to be severed from the proceeding as it does
not currently own any service station. However, it should be noted that some service station owners (which have sued the Company), have
submitted agreements entered into with the plaintiff for their ratification under the proceeding. Some of them have already been ratified
&#8212;and the plaintiff was deemed to have partially waived the action and rights against the owners of these service stations and also
against the Company regarding them&#8212;, whereas others are in the ratification stage.</TD></TR></TABLE>


<!-- Field: Page; Sequence: 177 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->169<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 15</U>:</B> (Continuation)</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">Some neighbors of the Dock Sud area brought a complaint against 14 oil companies, including the Company,
petrochemical companies and waste incineration plants located in the Dock Sud Petrochemical Complex for an alleged damage to the environment
and alleged individual damage to their goods, health and morale. The CSJN determined it had jurisdiction over the environmental issue
and maintained the civil and commercial jurisdiction regarding the compensation for the alleged damages. The First-Instance Civil and
Commercial Court opened the evidentiary stage.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">-</TD><TD STYLE="text-align: justify">A neighbor of the Province of Salta owning a lot where a joint venture made up of the plaintiffs (the
Company and other companies) conducted hydrocarbon activities seeks environmental protection and restoration for alleged damage caused
by hydrocarbon prospecting, exploration and/or exploitation activities or, alternatively, a compensation in case such environmental restoration
is not possible. The Province of Salta has been summoned as a co-defendant. The proceeding is in the complaint answer stage and the Court
of Justice of Salta declared that the First-Instance Administrative Litigation Court has jurisdiction over the claim.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">-</TD><TD STYLE="text-align: justify">Owners of a lot in the town of Gar&iacute;n, Province of Buenos Aires, seek the performance of preliminary
proceedings for alleged indications of damage to the environment in their place of residence which would result from an alleged leakage
from the adjacent gas station under the Company&#8217;s branding. Although the Company has filed a motion for constructive abandonment
of the proceeding, the plaintiff withdrew from the proceeding, and therefore the judge in charge declared it terminated.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt">-</TD><TD STYLE="text-align: justify">Neighbors of the Province of Neuqu&eacute;n brought a proceeding against the Company for alleged environmental
damage resulting from the hydrocarbon exploration, exploitation, transportation and well abandonment activities in which that plaintiff
has been taking part. Should this not be feasible, they claim a compensation for alleged damages to support the Environmental Restoration
Fund. Additionally, they request the redress of alleged moral damages to be allocated to the Environmental Restoration Fund. The presence
of all involved parties has been properly verified, and the lawsuit has been referred to the administrative litigation jurisdiction.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">Plaintiff Martinez Lidia and other three plaintiffs claim financial compensation for alleged damage to
their health and property caused by the alleged environmental affectation sustained as a result of living next to Puerto General San Martin
petrochemical plant (Rosario-Santa Fe). The Court issued an order to furnish additional evidence and, consequently, the proceeding was
consolidated with the lawsuit filed against the Company by other neighbors of the Santa Fe Plant. This last proceeding is in the evidentiary&nbsp;stage.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">A neighbor of the Province of Buenos Aires brought a complaint against the Company seeking the removal
of three fuel storage tanks and pumps and the remediation and restoration of the soils where such tanks are located on account of an alleged
environmental affectation. The proceeding is in the evidentiary stage completed.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">Neighbors of the Province of Santa Fe have brought a complaint against the Company for alleged environmental
damage. The Company obtained a favorable judgment, which has been appealed by the plaintiff.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: -21.3pt">&nbsp;</P>


<!-- Field: Page; Sequence: 178 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->170<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 15</U>:</B> (Continuation)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">15.4
Civil and Commercial Claims</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify">The &#8220;Consumidores Financieros Asociaci&oacute;n Civil Para Su Defensa&#8221; claim the nominal amount
of US$ 3,650 million as compensation for damages, Pampa, Petrolera Pampa S.A. and certain Pampa directors in office during 2016 being
co-plaintiffs together with Petroleo Brasileiro S.A. A complaint has been brought against Petrobras Brasil for the depreciation of the
share quotation value as a result of the &#8220;lava jato operation&#8221; and the so-called &#8220;Petrolao&#8221;, and the plaintiffs
claim Pampa, Petrolera Pampa S.A. and the directors&#8217; joint and several liability alleging the acquisition of indirect control in
Petrobras Argentina S.A. may have thwarted the enforcement of a possible judgment favorable to the plaintiff (for up to the amount of
the price paid by Pampa for the acquisition of control over Petrobras Argentina S.A.). The plaintiff appealed the Arbitration Court&#8217;s
decision declaring the dismissal of the main claim upon the failure to pay the arbitration fee. The Chamber of Appeals in Commercial Matters
upheld the filed extraordinary appeal. On its part, Petr&oacute;leo Brasileiro S.A. filed an appearance, requested that the lack of substance
of the filed appeal should be declared, and subsidiarily answered it. The Company was served notice of the upholding of the motion made
by the Chamber of Appeals in Commercial Matters and filed a presentation in this respect. Later, the CSJN declared the nullity of the
Chamber of Appeals in Commercial Matters&#8217; decision upholding the extraordinary appeal and referred the court file back so that a
new judgment should be rendered. The Chamber of Appeals in Commercial Matters rendered judgment dismissing the federal extraordinary appeal
brought by this Association. The Association filed a petition in error against this decision, which is currently under analysis by the
CSJN.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">We hereinafter detail the nature of significant
legal proceedings brought by the Company as of December 31, 2023 where the related inflows of economic benefits are estimated to be probable
by the Company.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: -21.3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">15.5
Administrative claims</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Georgia, Times, Serif">-</FONT></TD><TD STYLE="text-align: justify">CTLL (currently Pampa) filed an administrative litigation complaint against the Federal Government for
contractual breach during the January 2016-March 2016 period. CTLL claims that CAMMESA&#8217;s decision regarding the renewal and recognition
of costs associated with natural gas supply agreements should be reversed and that, subsidiarily, sustained damages should be redressed.
Later on, CTLL filed a new contentious administrative litigation complaint against the Federal Government for contractual breach during
the April 2016-October 2018 period. In the complaint for the January-March 2016 period, the closing of the evidentiary stage was suspended
on account of the proceeding&#8217;s link with the complaint subsequently field for the April 2016- October 2018 period, proceeding which
is currently at the pleadings stage.</TD></TR></TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0 17.85pt; text-align: justify; text-indent: -17.85pt"><FONT STYLE="font-family: Georgia, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Georgia, Times, Serif">-</FONT></TD><TD STYLE="text-align: justify">Upon the determination of the expiration of the Veta Escondida block concession granted by the Province of Neuqu&eacute;n, the
Company filed a declaratory judgment action to achieve certainty under the original jurisdiction of the CSJN pursuant to section 322 of
the Federal Code of Civil and Commercial Procedure. Both parties agreed to suspend the proceeding to pursue a private settlement, the
rendering of judgment was requested and the CSJN has set a preliminary hearing, which was carried out. Currently, after the opinion rendered
by the National Attorney General, the proceeding is pending judgment by the CSJN.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: -21.3pt">&nbsp;</P>


<!-- Field: Page; Sequence: 179 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->171<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 15</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Georgia, Times, Serif">-</FONT></TD><TD STYLE="text-align: justify">On March 31, 2021, the Company submitted a Preliminary Administrative Claim (RAP) against the National Ministry of Economy (MECON)
to claim the owed amount, plus the applicable interest, assumed by the Federal Government during the term of validity of PEN Executive
Order No. 1,053/18 on account of the exchange difference between the price of the gas purchased by gas distributors and that recognised
in their final tariffs during the April 2018 - March 2019 period. On September 1, 2021 a request for an expedited procedure was filed.
On September 1, 2021. a request for an expedited procedure was filed. On December 2, 2021, the Company filed a protective action (amparo)
on the grounds of undue delay seeking that defendant should state its opinion in this respect. A judgment was rendered dismissing the
amparo. The Company has filed an appeal against this decision, which was dismissed by the Chamber hearing the case. As MECON&#8217;s term
to state its position on the RAP has expired, the Company has brought a complaint against the Federal Government.</TD></TR></TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 0 17.85pt; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">15.6
Civil and Commercial Claims</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 0 17.85pt; text-align: justify; text-indent: -17.85pt"><FONT STYLE="font-family: Georgia, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Georgia, Times, Serif">-</FONT></TD><TD STYLE="text-align: justify">EcuadorTLC (currently Pampa Bloque 18), in its capacity as assignee of the Ecuadorian company Petromanab&iacute; S.A., filed an
international arbitration proceeding against the Republic of Ecuador seeking the payment of 12% of the Settlement Value, the latter pursuant
to the terms of the Hydrocarbon Exploration and Crude Oil Exploitation Participation Agreement in Block 18 entered into on December 19,
1995 and/or the Holl&iacute;n Common Field Unified Exploitation Operating Agreement executed on August 7, 2002 &#8212;in both cases, as
amended&#8212;. The arbitration is conducted according to the Arbitration Rules of the United Nations Commission on International Trade
Law, the applicable law is Ecuadorian law, and the seat of arbitration is the City of Santiago de Chile. In 2021, the first stages of
the international arbitration proceeding have already begun. As of the issuance of these Consolidated Financial Statements, the arbitration
proceeding is ongoing.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Georgia, Times, Serif">-</FONT></TD><TD STYLE="text-align: justify">The Company has instituted an international arbitration proceeding against High Luck Group Limited - Argentina branch as a result
of certain breaches to the Participation Assignment Agreement and the Joint Operation Agreement for the Chirete Block entered into on
April 1, 2015. On August 23, 2023, the Arbitration Court issued a Partial Award, court costs being payable by the defendant, declaring
that High Luck had breached the above-mentioned Agreement, without this fact entitling the Company to exercise the reversal option stipulated
therein. A new arbitration stage is currently underway pursuant to the schedule established by the Arbitration Court.</TD></TR></TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 180 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->172<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 16</U>: RELATED PARTIES&acute; TRANSACTIONS</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">16.1
Balances with related parties</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD ROWSPAN="2" STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">As of December 31, 2023</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Trade receivables</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Other receivables</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Trade&nbsp;&nbsp;payables</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">Current</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">Non Current</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">Current</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">Current</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-decoration: underline; vertical-align: bottom; text-align: left; width: 44%">Associates and joint ventures</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; width: 13%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; width: 13%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right; width: 13%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 13%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">CTB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">571</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">TGS</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">3,006</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">9,040</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">5,218</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">5,992</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">Transener</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">15</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">85</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">14</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-decoration: underline; vertical-align: bottom; text-align: left">Other related parties</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">SACDE</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">290</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">42</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">5,802</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">Other</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">455</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">3,882</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">9,040</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">5,800</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">11,808</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">As of December 31, 2022</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Trade receivables</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Other receivables</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Trade&nbsp;&nbsp;payables</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">Current</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">Non Current</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">Current</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">Current</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-decoration: underline; vertical-align: bottom; text-align: left; background-color: white">Associates and joint ventures</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">CTB</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">34</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">TGS</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">806</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">3,098</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">1,059</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">1,206</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">Transener</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">4</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">12</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">Other</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">2</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-decoration: underline; vertical-align: bottom; text-align: left">Other related parties</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">SACDE</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">4</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">12</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">1,297</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">Other</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">100</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">848</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">3,098</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,183</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">2,506</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 0 17.85pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 181 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->173<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B><U>NOTE 16</U>:</B> (Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">16.2
Operations with related parties</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="background-color: white">
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">Operations for the year</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center"><BR>
Sales of goods and services <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP><BR></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Purchases
    of goods and services <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Fees for services <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">Other operating income (expenses), net <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(4)</SUP></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2023</TD>
    <TD STYLE="font-size: 9pt; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2021</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2023</TD>
    <TD STYLE="font-size: 9pt; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2022</TD>
    <TD STYLE="font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2021</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2023</TD>
    <TD STYLE="font-size: 9pt; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2022</TD>
    <TD STYLE="font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2021</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2023</TD>
    <TD STYLE="font-size: 9pt; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2021</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-decoration: underline; vertical-align: bottom; text-align: left; background-color: white; width: 18%">Associates and joint ventures</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 6%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">CTB</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">645</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">242</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">153</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Greenwind&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">47</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">64</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Refinor&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,435</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">828</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,222)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(597)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(12)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">TGS&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">12,429</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6,718</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">4,333</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(17,035)</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(7,131)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(4,135)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Transener</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(42)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(50)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(38)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">126</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">30</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="font-weight: bold; text-decoration: underline">Other related parties</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Fundaci&oacute;n</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(566)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white"><SUP>-</SUP></TD>
    <TD STYLE="vertical-align: middle; text-align: right">(247)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(170)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">SACDE&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(25,108)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(10,538)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">(4,832)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">87</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">18</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">12</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: left">Salaverri, Dellatorre, Burgio &amp; Wetzler&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(303)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white"><SUP>-</SUP></TD>
    <TD STYLE="vertical-align: middle; text-align: right">(83)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(118)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Other</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(35)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white"><SUP>-</SUP></TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">13,074</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">8,442</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">5,378</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(42,220)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(18,944)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(9,603)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(303)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(83)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(118)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(353)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(199)</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(170)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-align: justify"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Corresponds mainly to advisory services provided in the field of technical assistance and
sales of gas and refined products.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(2)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Correspond to natural gas transportation services, purchases of refined products and other
services imputed to cost of sales for $ 17,112 million, $ 8,487 million and $ 4,900 million and infrastructure works contracted to SACDE
imputed in property, plant and equipment for $ 25,108 million, $ 10,457 million and $ 4,703 million, of which $ 5,566 million, $ 2,161
million and $ 1,667 million correspond to fees and general expenses calculated on the costs incurred by SACDE and/or Pampa to carry out
these for the years ended December 31, 2023, 2022 and 2021, respectively.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(3)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Disclosed within administrative expenses.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(4)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Corresponds mainly to donations.</TD>
</TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt">&nbsp;</P>


<!-- Field: Page; Sequence: 182 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->174<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 16</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="background-color: white">
    <TD ROWSPAN="2" STYLE="border-bottom: black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: left">Operations for the year</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center">Financial income <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center">Financial expenses <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center">Dividends received&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: middle; text-align: center">Payment of dividends</TD></TR>
  <TR>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2023</TD>
    <TD STYLE="font-size: 9pt; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2021</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2023</TD>
    <TD STYLE="font-size: 9pt; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2022</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2021</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2023</TD>
    <TD STYLE="font-size: 9pt; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2022</TD>
    <TD STYLE="font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2021</TD>
    <TD STYLE="font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2023</TD>
    <TD STYLE="font-size: 9pt; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2022</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-size: 9pt; font-weight: bold; vertical-align: middle; text-align: center; background-color: white">2021</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-decoration: underline; vertical-align: middle; text-align: left; width: 18%">Associates and joint ventures</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 6%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white; width: 6%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">OCP</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">90</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,240</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,949</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">TGS&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">493</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">271</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">239</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Transener</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; text-decoration: underline; vertical-align: middle; background-color: white">Other related parties</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">EMESA</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(476)</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(25)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Oldelval</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">73</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">13</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">TJSM</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">Other</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">15</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(13)</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(9)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; text-align: left; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">509</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">271</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">329</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(13)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(9)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">75</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,240</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,962</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(476)</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(25)</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">-</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Corresponds mainly to financial leases and accrued interest on loans granted.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(2)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Corresponds mainly to interest and commissions on loans received.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 183 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->175<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 16</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">16.3
Key management personnel remuneration</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">During the years ended December 31, 2023
2022 and 2021, the total remuneration to executive directors accrued amounts to $ 19,412 million ($1,937 million for Directors' and Sindycs'
fees and $ 17,475 million in the accrual of Stock-based Compensation Plans and Compensation Agreements), $ 3,698 million ($ 873 million
for Directors' and Sindycs' fees and $ 2,825 million in the accrual of Stock-based Compensation Plans and Compensation Agreements), and
$ 734 million ($ 634 million for Directors' and Sindycs' fees and $ 100 million in the accrual of Stock-based Compensation Plans and Compensation
Agreements), respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 184 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->176<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/1pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 17</U>: ASSETS AND LIABILITIES IN CURRENCIES DIFERENT
FROM THE ARGENTINE PESO <SUP>(1)</SUP></P>

<P STYLE="font: 7pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><SUP>&nbsp;</SUP></B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD ROWSPAN="2" STYLE="font-weight: bold; text-align: center; background-color: white; width: 39%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 7%">Type</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 13%">Amount in currencies other than pesos</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 11%">Exchange rate <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 700"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 13%">Total <BR>
12.31.2023</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="font-weight: bold; border-bottom: black 0.5pt solid; text-align: center; width: 13%">Total <BR>
12.31.2022</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: white">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">ASSETS</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left; background-color: white"><U></U></TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">NON-CURRENT ASSETS</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Financial assets at amortized cost</TD>
    <TD STYLE="text-align: center; background-color: white">US$</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">808.45</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18,000</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Other receivables</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">808.45</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13,045</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,099</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; background-color: white">Total non-current assets</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13,045</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21,099</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left; background-color: white"><U></U></TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left; background-color: white">CURRENT ASSETS</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="text-align: center; background-color: white">US$</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483.4</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">808.45</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390,799</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83,477</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: center; background-color: white">U$</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.04</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">20.67</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Financial assets at amortized cost</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104.8</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">808.45</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84,749</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,357</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Derivative financial instruments</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.3</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">808.45</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Trade and other receivables</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165.0</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">808.45</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133,422</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38,960</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">CLP</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,107.4</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">0.92</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,021</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Cash and cash equivalents</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98.6</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">808.45</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79,692</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13,602</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">CLP</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.6</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">0.92</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">EUR</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">895.04</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; background-color: white">Total current assets</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689,915</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137,547</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left; background-color: white">Total assets</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702,960</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158,646</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left; background-color: white">LIABILITIES</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left; background-color: white">NON-CURRENT LIABILITIES</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Provisions</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139.4</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">808.45</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112,738</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25,492</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Borrowings</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,223.6</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">808.45</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989,182</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215,786</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Other payables</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41.2</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">808.45</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33,334</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,572</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Total non-current liabilities&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,135,254</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244,850</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left; background-color: white">CURRENT LIABILITIES</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Provisions</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">808.45</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,691</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Tax liabilities</TD>
    <TD STYLE="text-align: center; background-color: white">US$</TD>
    <TD STYLE="text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.002</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">808.45</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">CLP</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842.97</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">0.92</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Salaries and social security payable&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.03</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">808.45</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Derivative financial instruments</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.23</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">808.45</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Borrowings</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145.3</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">808.45</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117,493</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31,180</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">CNY</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38.5</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">113.85</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,388</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Trade and other payables</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">US$</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191.4</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">808.45</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154,698</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35,461</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">EUR</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">895.04</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,959</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">CNY</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.176</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">113.85</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,045</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">SEK</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.0</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">80.49</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">U$</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.12</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">20.67</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Total current liabilities&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284,585</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68,270</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Total liabilities&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,419,839</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313,120</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Net Position Liability</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right; background-color: white">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(716,879)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(154,474)</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt"><B></B></FONT></P>

<P STYLE="font: 9pt Georgia, Times, Serif; margin: 0 0 0 35.45pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 8pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Information presented to comply with the CNV Rules. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 8pt"><SUP>(2)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Exchange rate in force on December 31, 2023 according to the BNA for U.S.
dollars (U$S), euros (EUR), Chilean pesos (CLP), Swedish Kronor (SEK), Yuan R. China (CNY) and Uruguayan pesos (U$). </FONT></TD></TR></TABLE>


<!-- Field: Page; Sequence: 185 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->177<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt"><U>NOTE 18</U>: INVESTMENT COMMITMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">18.1
New generation projects</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Under the National Government&#8217;s
call for the expansion of the generation offer, the Company participated in the following generation projects:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>PEPE IV</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In early 2022, works started for the expansion
of PEPE III, inaugurated in 2019 and located in the town of Coronel Rosales, Province of Buenos Aires, which production is targeted at
the large users segment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The project mainly consisted of the staged
mounting and installation of 18&nbsp;additional wind turbines with an 81 MW capacity. The expansion&#8217;s commissioning started on December
29, 2022, with the first 4 wind turbines, and ended on June 17, 2023 with the project&#8217;s last 3 wind generators.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">After completing the expansion works,
PEPE III and PEPE IV jointly have 32&nbsp;wind turbines with a 134.2 MW installed capacity.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>PEPE VI </U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In February 2023, the Company started
constructing Pampa Energ&iacute;a VI Wind Farm in Bah&iacute;a Blanca, Province of Buenos Aires. The project will enable the installation
of a 300&nbsp;MW power capacity, in 3 stages, with an estimated US$ 500 million investment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Stage 1 comprises the assembly and installation
of 21 Vestas wind turbines, with their internal medium-voltage cable network, roads, a substation and a 500 KV line, which will add a
94.5&nbsp;MW capacity with an approximate US$186 million investment; this stage is expected to be operational in mid-2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Stage 2 comprises the assembly and installation
of 10 Vestas wind turbines that will add a 45 MW capacity with an approximate US$ 83 million investment; this stage is expected to be
operational in the fourth quarter of 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The energy produced by this wind park
allows for reduced carbon emissions, and will be sold through the MATER to supply large companies in the country, in compliance with the
Renewable Energy Law.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of the issuance of these Consolidated
Financial Statements, the work is 59% complete.</P>

<P STYLE="font: 12pt Arial Unicode MS; margin: 0 0 0 21.3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">18.2
Investment commitment for the exploration and exploitation of hydrocarbons</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On November 30, 2023, Executive Order
No. 2,425/23 was published, declaring the completion of the Pilot Plan for the Sierra Chata block, consisting of the execution of 14 horizontal
wells targeting the Vaca Muerta formation with a US$&nbsp;332&nbsp;million investment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of the issuance of these Consolidated
Financial Statements, the Company has committed investments until 2027 for an estimated total amount of US$ 217 million, including commitments
associated with the participations detailed in Note 5.4.</P>


<!-- Field: Page; Sequence: 186 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->178<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt"><U>NOTE 19</U>: INCIDENTS AT THERMAL POWER PLANT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">19.1 CTGEBA</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On May 31, 2021, an incident occurred
at the GEBATG03 (TG21) unit, part of CTGBS&#8217;s Genelba Plus CC, causing damage to the unit&#8217;s turbine. As a result of the incident,
the CC generation capacity was reduced by approximately 50% (280 MW).</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Jointly with the turbine manufacturer
(SIEMENS), the Company performed the necessary works to disassemble and repair the failure, which were successfully completed in July
2021.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In the fourth quarter of 2023, the Company
completed the necessary filings with the insurance companies, recording an expense recovery of $ 2,884 million (US$ 8 million) for the
damages sustained as a result of the failure and the economic losses resulting from the breach of the availability commitments.</P>

<P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">19.2 CTLL</P>

<P STYLE="font: 12pt Arial Unicode MS; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 20, 2023, an incident occurred at CTLL&#8217;s
GT05, causing damage to the unit's turbine. As a result of the incident, the power generation capacity was reduced by approximately 105
MW.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company, together with the turbine manufacturer,
General Electric, carried out the necessary works to repair the failure, which were completed in January 2024.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Moreover, the Company is making all necessary
filings before the insurance companies to minimize economic losses resulting from the breach of the associated availability commitments.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt"><U>NOTE 20</U>: LEASES</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">20.1 Lessee</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company leases a key part for thermal
power plants operation for a 20-year term and has entered into certain oil services agreements (mainly gas compression services) which,
considering their characteristics, contain the lease of the assets for the rendering of the services with terms ranging between 2 and
6 years.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The terms of the lease agreements are
negotiated on an individual basis and comprise a broad range of terms and conditions.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The evolution of right-of-use assets and
lease liabilities recognised as of December 31, 2023 and 2022 is disclosed below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 187 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->179<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 20</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">20.1.1 <U>Right of use assets</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="9" STYLE="border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Original values</TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; width: 38%">Type of good</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white; width: 11%">At the beginning</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white; width: 11%">Increase</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white; width: 11%">Decrease</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white; width: 11%">Traslate Effect</TD>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 1%">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 13%">At the end</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Machinery and equipment</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">3,518</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">5,203</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(103)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">12,777</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">21,395</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Advances to suppliers</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,097</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3,507</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5,604</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; background-color: white">Total at 12.31.2023</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">3,518</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">7,300</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(103)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">16,284</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">26,999</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt; background-color: white">Total at 12.31.2022</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">2,045</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">126</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">(101)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: white">1,448</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">3,518</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="9" STYLE="border-bottom: Black 0.5pt solid; text-align: center">Amortization</TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; background-color: white">Type of good</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">At the beginning</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">For the year</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: white">Traslate Effect</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt">At the end</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="background-color: white">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Machinery and equipment</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,997)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(233)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">(7,510)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(9,740)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; background-color: white">Total at 12.31.2023</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(1,997)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(233)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(7,510)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(9,740)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt; background-color: white">Total at 12.31.2022</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(814)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(381)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(802)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(1,997)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 0.5pt solid; text-align: center; background-color: white">Net book values</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">Type of good</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; text-align: center; border-top-color: Black; border-top-width: 0.5pt">Al 31.12.2023</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; text-align: center; border-top-color: Black; border-top-width: 0.5pt">Al 31.12.2022</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white">Machinery and equipment</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">11,655</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,521</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Advances to suppliers</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5,604</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; background-color: white">Total at 12.31.2023</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">17,259</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt; background-color: white">Total at 12.31.2022</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">1,521</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 188 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->180<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 20</U>: </B>(Continuation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">20.1.2 <U>Lease liabilities</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; width: 58%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 19%">12.31.2023</TD>
    <TD STYLE="text-align: center; vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 19%">12.31.2022</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">At the beginning of the year</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,108</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,340</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Increases</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5,203</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">126</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Result from measurement at present value <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">600</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">317</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; background-color: white">Reversal of unused amounts</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(103)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(101)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Payments</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(584)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">(411)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Exchange differences on translation</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7,385</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">837</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">At the end of the year</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">14,609</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">2,108</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt/14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Included in Other financial results.</TD>
</TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023 and 2022, this
liability is disclosed under Other current payables in the amount of $ 2,923 million and $ 319 million and Other non-current payables
for $ 11,686 million and $ 1,789 million, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table includes an analysis
of the Company lease liabilities, grouped according to their maturity dates. The amounts shown in the table are the contractual undiscounted
cash flows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; width: 74%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 24%">12.31.2023</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Less than three months</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">641</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Three months to one year</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,282</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">One to two years</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,778</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Two to three years</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,470</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Three to four years</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,133</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">Four to five years</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2,114</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">More than five years</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">13,820</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Total</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">26,238</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">20.1.3 <U>Short-term or low value leases</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023 and 2022, the
Company has recognised administrative costs and expenses in the amount of $ 1,787 million and $ 839&nbsp;million on account of lease payments
associated with short-term leases, respectively.</P>


<!-- Field: Page; Sequence: 189 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->181<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>NOTE 20</U>: </B>(Continuation)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt">20.2 Lessor</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 12pt 0 0">20.2.1 <U>Financial leases</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Corresponding to the financing granted
to TGS for the sale of certain property, plant and equipment belonging to the Oil &amp; Gas business segment. This agreement was entered
into on August 11, 2016 and consists of the collection of 119 monthly consecutive installments of US$ 623 thousand, without considering
taxes, and a purchase option for a like amount payable at the end of the 120 months of the contract life.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As of December 31, 2023 and 2022, this
receivable is disclosed under Other current receivables in the amount of $ 5,098 million and $ 1,030 million, respectively and under Other
non-current receivables for $ 9,041 million and $ 3,098 million, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The following table includes an analysis
of the Company receivable, grouped according to its maturity dates. The amounts shown in the table are the contractual undiscounted cash
flows:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; width: 74%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 24%">12.31.2023</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Less than three months</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,236</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Three months to one year</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3,861</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">One to two years</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5,525</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Two to three years</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3,516</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Total</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">14,138</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">20.2.2 <U>Operating leases</U></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Company has executed lease agreements
to install commercial and administrative offices in Pampa Energ&iacute;a S.A.&#8217;s building, located in Maip&uacute; 1, Autonomous
City of Buenos Aires, for three to five years terms.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Future minimum collections from operating
leases as of December 31, 2023 are detailed below:</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: middle; width: 74%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: center; width: 24%">12.31.2023</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Less than three months</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">164</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Three months to one year</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">495</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">One to two years</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">541</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Two to three years</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">541</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">Three to four years</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">28</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">Total</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: white">1,769</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Total income from operating leases for the fiscal year ended December 31,
2023 and 2022 amounts to $ 312 and $ 136 million, respectively.</P>


<!-- Field: Page; Sequence: 190 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->182<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 21</U>: TERMINATION OF HYDROELECTRIC CONCESSIONS</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">As the hydroelectric concessions timely
granted by the Federal Government and, in some cases, by the Provinces approach expiration, on March 10, 2022, SE Resolution No. 130/22
was published, creating a Concessioned Hydroelectric Exploitations Team (&#8220;ETAHC&#8221;) to evaluate the status of the hydropower
concessions under national jurisdiction, including HIDISA, HINISA, and HPPL.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">This team will be presided over by the
Secretary of Energy (or the person appointed by him) and coordinated by a person with proven experience in the field. It will also be
made up of representatives of the SE, CAMMESA, the ENRE, and ENARSA. Furthermore, the Dam Safety Regulatory Body and water management
and environmental protection authorities are invited to appoint a representative in the team. Additionally, ENARSA is entrusted with the
technical audit of the power generation equipment.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The concessions' status report had to
be submitted within two years for the HIDISA and HINISA concessions, expiring in 2024, whereas the term for issuing the report for HPPL,
which concession expires in 2029, would be later determined. Subsequently, SE Resolution No. 486/23 modified the deadlines for the submission
of reports by the ETAHC. In the case of HINISA and HIDISA, the ETAHC's deadline for the submission of the reports will be December 1,
2023 and April 19, 2024, respectively.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Later, SE Resolution No. 574/23, making use of
the provisions of the concession agreements, provided that the current Alicur&aacute;, El Choc&oacute;n Arroyito, Cerros Colorados and
Piedra del &Aacute;guila's concessionaires should continue in charge of their operation and maintenance for a 60-day term following termination
of the concession. ENARSA was appointed as an observer, with broad powers during the transition term. To assist ENARSA during that period,
the provinces of Neuqu&eacute;n and R&iacute;o Negro were invited to appoint a representative to act jointly with the representative to
be appointed by the National Ministry of Economy.</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">In October 2023, SE Resolution No. 815/23
granted an additional extension of the Alicur&aacute;, El Choc&oacute;n, Arroyito and Cerros Colorados Hydroelectric Power Plants&#8217;
concessions for 100&nbsp;calendar days as from the expiration of the 60-day term provided by SE Resolution No. 574/23. On January 17,
2024, through SE Resolution No. 2/24, a new 60-calendar day extension was granted following the termination of the previous extensions,
maintaining ENARSA in its role of observer.</P>


<!-- Field: Page; Sequence: 191 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->183<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Free translation from the original prepared in Spanish for publication in Argentina</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<IMG SRC="image_006.jpg" ALT="" STYLE="width: 280px; height: 80px"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</P><P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the years ended December 31, 2023, 2022 and 2021 <FONT STYLE="font-weight: normal">(Continuation)</FONT></P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">(In millions of Argentine Pesos (&ldquo;$&rdquo;))</P><P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 4.5pt">&nbsp;</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 22</U>: DOCUMENTATION KEEPING</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">On August 14, 2014, the CNV issued General
Resolution No.&nbsp;629, which introduced modifications to the provisions applicable to the keeping and conservation of corporate and
accounting books and commercial documentation. To such effect, the Company, have sent non-sensitive work papers and information corresponding
to the periods not covered by the statute of limitations for their keeping in the Administraci&oacute;n de Archivos S.A. (AdeA)&#8217;s
data warehouse located at Ruta 36, km 34.5, Florencio Varela, Province of Buenos Aires and in the Iron Mountain Argentina S.A.&#8217;s
data warehouses located at the following addresses:</P>

<P STYLE="font: 9pt Georgia, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">Azara 1245 &#8211; C.A.B.A.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">Don Pedro de Mendoza 2163 &#8211; C.A.B.A.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">Amancio Alcorta 2482 - C.A.B.A.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt">-</TD><TD STYLE="text-align: justify">San Miguel de Tucum&aacute;n 601, Carlos Spegazzini, Municipality of Ezeiza, Province of Buenos Aires.</TD></TR></TABLE>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">A list of the documentation delivered
for storage, as well as the documentation provided for in Article 5.a.3) Section I, Chapter V, Title II of the PROVISIONS (2013 regulatory
provisions and amending rules), is available at the Company headquarters.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 23</U>: OIL AND GAS RESERVES (Information not covered
by the auditors&#8217; report)</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The table below presents the estimated
proved reserves of oil (including crude oil, condensate and LNG) and natural gas, by geographic area as of December 31, 2023.</P>

<P STYLE="font: 8.5pt/120% Trebuchet MS, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="8" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">Proved Reserves</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 11%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 11%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 11%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 11%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 2%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 11%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 11%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Proved Developed</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Proved Undeveloped</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">Total Proved</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Oil and LNG <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: center">Natural Gas <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Oil and LNG <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: center">Natural Gas <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Oil and LNG <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: center">Natural Gas <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400"><SUP>(2)</SUP></FONT></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>Argentina</TD>
    <TD STYLE="text-align: right">7,592</TD>
    <TD STYLE="text-align: right">20,523</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3,994</TD>
    <TD STYLE="text-align: right">11,312</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">11,586</TD>
    <TD STYLE="text-align: right">31,835</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">Total at 12.31.2023</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">7,592</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">20,523</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">3,994</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">11,312</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">11,586</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">31,835</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(1)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 120%">In thousands of barrels.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><SUP>(2)</SUP></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 120%">In millions of cubic meters.</FONT></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 3pt"><U>NOTE 24</U>: SUBSEQUENT EVENTS</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Remuneration for sales to the spot market</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Pursuant to SE Resolution No. 9/23 dated February 8, 2024, remuneration
values for spot energy generation were updated, providing for a 73.9% increase on the values approved by SE Resolution No. 869/23 as from
the February 2024 economic transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->184<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>ex99-3.htm
<DESCRIPTION>EX-99.3
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="color: White; margin: 0; font-size: 0.5pt">Management&rsquo;s Report on Internal Control Over Financial Reporting</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><IMG SRC="image_005.jpg" ALT=""></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" "F DT# 2(  A$! Q$!_\0
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *JZC?PZ9I\U[/N\J%
M=Q"C)/;%6JPO&7_(I:A_N+_Z$*TIQ4IJ+ZLRK2<*<I+HF8W_  LO3?\ GRN_
M_'?\:/\ A9>F_P#/E=_^._XUYC17O_V?0[?B?*?VMBNZ^X]._P"%EZ;_ ,^5
MW_X[_C4L7Q(T=R!)!>1^^Q2/T->644GE]#L_O!9OBNZ^X]PTWQ%I.K$+9WL;
MR'_EFWRM^1Z_A6I7SX"58,I((.01VKT3P9XQEN)TTO4Y"[MQ!.QY)_NMZ^QK
MAQ& <%S4W='J8/-E5DH559OKT._HHHKRSW HHHH **** "BBB@ HHHH ****
M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ H
MHHH **** "BBB@ HHHH **** "L+QE_R*6H?[B_^A"MVL+QE_P BEJ'^XO\
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M>:TT[,]I--704444AA1110 4444 %%%% !1110 4444 %%%% !1110 4444
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MYJFMV-]XAU,1V]M<QSM 90=VU@V B?+VZU+HVU<D/GOLCM?''_(CZS_UZO\
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MH(A@ =2>Y)[D^M7:**&[ZL HHHI %%%% !1110 4444 %%%% !1110 4444
M%%%% !1110 4444 17/_ !ZR_P"X?Y5X!7O]S_QZR_[A_E7@%>SE>TOD?.9Y
MO#Y_H>K_  Z_Y%EO^OA_Y+76URWP_@DA\+JTBE1+*SIGNO S^AKJ:\[%?QI>
MI[&"5L/"_9!1117.=84444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110!'-/%;0M-/*D42\L[L% ^I-+%+'-&LD4BR1MR&0
MY!_&J>M:5%KFC76F3R/''<)M+)C(YSW^E>:R?!9HR6L_$+H>H#6_?ZA_Z5K"
M,&O>E8EMK9'JL]Q#:Q&6XFCBC7J\C!0/Q->,?$+78O&FOZ;H6AD7(CD*^:OW
M7=L#@_W0!R>G7TK1C^"TLK!KWQ"SG/(6W)_4M_2NX\->"M&\+!FL86>Y<8:X
MF.YR/0=@/I6L73I/F3NR&I2T:LC=MH$M;6&WCSLB147/H!@5+117*:A1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 $9&#TK('A?0Q)Y@TNWW9SRN1
M^72M>BJC.4?A=B)0C+XE<15"J%4 *!@ #@"EHHJ2PHHHH **** "BBB@ HHH
MH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
M HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "
MBBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **
M** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHH
MH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
M HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "
MBBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **
M** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHH
$H __V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>image_002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_002.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !0 1@# 2(  A$! Q$!_\0
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M@ HHHH **** "BBB@ HHHH **** "BBB@ KG_&=_=:;X<EN+.8Q3"1%#@ D
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MA5&35+5-,\9:Y-IOVNRT>W6SO8KH2PW#LPVGD %>X)J[X3_Y''QC_P!?</\
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$H __V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>image_004.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_004.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !- &8# 2(  A$! Q$!_\0
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-HH **** "BBB@#__V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>image_003.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_003.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" "F DT# 2(  A$! Q$!_\0
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ H
MHHH **** "BBB@ HHHH **** "L+QE_R*6H?[B_^A"MVL+QE_P BEJ'^XO\
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M>:TT[,]I--704444AA1110 4444 %%%% !1110 4444 %%%% !1110 4444
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MYJFMV-]XAU,1V]M<QSM 90=VU@V B?+VZU+HVU<D/GOLCM?''_(CZS_UZO\
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MH(A@ =2>Y)[D^M7:**&[ZL HHHI %%%% !1110 4444 %%%% !1110 4444
M%%%% !1110 4444 17/_ !ZR_P"X?Y5X!7O]S_QZR_[A_E7@%>SE>TOD?.9Y
MO#Y_H>K_  Z_Y%EO^OA_Y+76URWP_@DA\+JTBE1+*SIGNO S^AKJ:\[%?QI>
MI[&"5L/"_9!1117.=84444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110!'-/%;0M-/*D42\L[L% ^I-+%+'-&LD4BR1MR&0
MY!_&J>M:5%KFC76F3R/''<)M+)C(YSW^E>:R?!9HR6L_$+H>H#6_?ZA_Z5K"
M,&O>E8EMK9'JL]Q#:Q&6XFCBC7J\C!0/Q->,?$+78O&FOZ;H6AD7(CD*^:OW
M7=L#@_W0!R>G7TK1C^"TLK!KWQ"SG/(6W)_4M_2NX\->"M&\+!FL86>Y<8:X
MF.YR/0=@/I6L73I/F3NR&I2T:LC=MH$M;6&WCSLB147/H!@5+117*:A1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 $9&#TK('A?0Q)Y@TNWW9SRN1
M^72M>BJC.4?A=B)0C+XE<15"J%4 *!@ #@"EHHJ2PHHHH **** "BBB@ HHH
MH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
M HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "
MBBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **
M** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHH
MH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
M HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "
MBBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **
M** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHH
$H __V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>image_006.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_006.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !0 1@# 2(  A$! Q$!_\0
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M@ HHHH **** "BBB@ HHHH **** "BBB@ KG_&=_=:;X<EN+.8Q3"1%#@ D
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MC2[F::T@DE6?:'= QQM''-1?$?3;.WL[.[@MXXI3*8V**%W#!/./I5SX9_\
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)** "BBB@#__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>image_007.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_007.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" #R DH# 2(  A$! Q$!_\0
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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MR,&V("Q5MN#@'! SQR,,Q:M/;>'UN=0U]H;G4[CSQ#:-;L;=A($,OE1JT?\
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M9H1(KB08VN[,0,?>8(3UV@8)W/\ A%_#YNUNCH6F?:4V%9OLD>]=HPN#C/
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MS8(Y!(R 1SDUEW&GVVF^,-(EM](MTCEC>V%W#)B5<(2(V7;S$ IQAN&QQWK
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M;&:><@;O[=MU"1C.U ,=LDDGJ2>@P!Z)837-QIUM->6OV2ZDB5YK?S!)Y3D
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M@#-UW5UT72VNR@DD:1(88RV-\CL$0$\X&2,G!P,UR5WXVU.U\;C0)%LHI!)
MD5M+ X>]1P/,EBDW[5"?-\I#$[3SS70^+]*GU714%K&)+FTNH;R*,D#S#&X;
M;D\9(! SQDBLV^\&?VOJ*W4E_BQDO8=2,,ML3.DJ!0 DA;Y%^097:3RPR,\
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M!!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
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M%<=QR!D8)S2;23N-*[+[Z%I$FDKI3Z58MIJXQ9M;H81@Y'R8QUYZ5.NG62O
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MD D C(S@XSG!QBH--L;VQL@KQ6TLUS/)-=#SB%3?DX0[/GP=J\A<C)]JUZ*
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MI1N)@D,6VV*R1*TJ*OS':K2LP)(RAP% (HL%CU>.XAF>5(IHW>%MDBJP)1L
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH S];U7^Q-(GU#[!?7_ ).W_1K"'S9GRP7Y5R,XSD^P-<?_ ,+3
M_P"I"\<_^"?_ .SKT"B@#S__ (6G_P!2%XY_\$__ -G1_P +3_ZD+QS_ ."?
M_P"SKT"B@#S_ /X6G_U(7CG_ ,$__P!G1_PM/_J0O'/_ ()__LZ] HH \_\
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M$S7/^_UE_P#)% '045S_ /PD.J?]"9KG_?ZR_P#DBC_A(=4_Z$S7/^_UE_\
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
=BB@ HHHH **** "BBB@ HHHH **** "BBB@#_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>image_008.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_008.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" $[ DD# 2(  A$! Q$!_\0
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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MHH"YYN-/UJUU_6+W_A'+BXL[HS11PK+!N&Y4 < OC!V$'D'D<=:UI]'U*X\
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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MM96MK>S##R8V90X(P 0& /KR#[8J!/"VFI;30A[_ /?$%I3?S&7CH ^_<![
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MI$NR8NY*L)57,;X_CR0.0:]<HH"XBDE 2,''(]*6BB@04444 %%%% !1110
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M-)DN[G-[*8R@&U5,>[: 6;(P/X*N/X=N+O5#JAUO5+8RA0UJOD[54<[ =A8
M]\-GWJ_-I>V>_O;:607MQ (D8L $V@[<9!QRQ/(/7I1MKZAN<;XRU=;36K^.
M^U6;3?LVGBXTLK.8DGFRVX$9Q(<A!L.>#TYHFU&_GBOM=DN;B&XL+RWMX[9)
M66/8WE[PR9PQ.]N2,CC%=2-!EO!:-JM_/<B*-/,MOD$3R#G><*">>V=OM1<>
M&+.XU8WK2SK&[I+-:J5\J:1,;'88SD8'0@<#.:%I_7];[ ]?Z_KU*EBURGQ#
MU.)[ZXEMWT^"5('8;(B7<': !UP.3DUG>(9KJZU+6F2]N+<:/8)<VRPRL@,I
MWMN< X=?E P<CK6[_P (^1XANM875+U99[<6_E 1[$49((RF<@DGDGK4=]X6
MM]0ECDGO+K<81!=%=@^UQCG;(-O3)/W<=32Z+^N_Y#TO]WZ7^\ALM0FAUVRB
M>21X-5MFN%1VSY,BA<@'^Z0W3L1[UTE8T>GS7/B--0GA$,%E$T%JF[)?=MW.
M<=!\H 'UK9I_U_D2C)US6VT2.W==,O+[SY1$!;&/*L>F=[+UJ/2O$D.HWT^G
MW%G=Z=?PH)#;W84%H_[ZLK,K#/!P>.]5?%]XMI!IQ:"[FQ>Q2$6UK),553DD
M[ <5ROBB._\ %6I6^I6-MJEKI6GQM%<R?9=LURCE=ZI%(I+*H7)RO/09H&=[
MJVL1:5!$WD2W4TS;(;> KOD."3C<0. ">3VJW:W*W=K%.$DC\Q _ERKM=,C.
M&'8UYX=%TRV'A:&73[V_MX[R1X9+G3RS11LAQN58P(EWE< @8P#VXIS:&S0Z
M]=7#:X^I&&>.YC6#8L@)/E['CC#2]%P QP,@XZ4/89ZIN7^\/3K1N4YY''7G
MI7GFDZ'IJ^(YY++3+N.9],BEA>X@E$8G&?FRXVB3E<D_-U]ZH6.D2VFC7-S#
M%K%P))(1JMM<6JHSA6!DVJJ+YI(+98%MP]:!'H>EZQ;:NUX+991]DN#;N9$*
MY8 $D9ZCGKWJU#=V]P&,4R.%<H<'^(=17+>!8[>$ZU'8Z5<6&GM>^9;B6V,"
MN#&@.U&PPP0>P'I7#ZSIUK#;:C8VOAF5=3$EQ*MY_9DT@W&3*A"J[2Q'1\\>
M_2CJ,]FWKG&X>G6J,FJPIK*:7Y4[3O TX8)\F 0,;CQGGI7!&"P3Q-!KL.B7
MK64URD=Q$=/D#FX"Y6Y"E,@+DJ3[D]1SU&M2(=?AADAO&CDL+A3)!#(0,[3C
M>HX. <<YH WX9C)!'))&T+. 3'(1N4^AP2,_0U4TW6+;59+R.!94-I<&W?S4
M*$L "2 >2.>M>;^((3/X/TFWBT6ZENH].Q!<364TDD+J5&T(!\CG'#MCIQG-
M:3Z;'>ZY=2#3[P:G-?0W5K=-!(HBAVQ[CO(PO 8%,@GH13 [2368X+RRM)[6
MYCEO)'CCR@95V@G+,"0 0..<\].M6!?1JL9N5-L\DAC1)2,L1GI@GJ!FN-TI
MTM;;1H%MM3V)J5R"9+68LH;?AF)&0/F'S'CWJD=*T^[T328K[2KN[L[?4YUD
M2YLY)' <OAMI7<1\R_-^M(=CT@,IQAASTYI:Y3PSHBV<XAFL+>--(WVUC,H&
M61OF)']TX(!]3DUU=!(4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
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M=+#?137DUKATFBP=KC&Y3T8>HJS6'=AW\5Z3MY:.WG,VT\ '8!GZD''T-;E
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MA5WADT/58KLL!! Z)FXR"<HV_9P%)(+ CTY%1'QS9.UM%;Z=J5Q<7$4KB&.
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MJ<6I03G3UN!=1VZDSX #M&O.,$]& &.>G-:%_K%QILVM37EW-]A@M(9(A;0
MRQ[MP)YR&)P.HP* L=33)8UFA>)BP5U*DHQ4\^A'(_"N=U[Q3+H5W;Q)I%]?
MQ-;/<2/;;"RJN.S,N>O:M6SU3[9=B%;.=$-ND_G,4*?-T7AB<_ACWH$6;.SA
ML+5+:#?L08!=R['W+,22?<FIZ** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH 1E#J58 J1@@]"*CM[>*U@6&%-D:_=4'@#T'M4M9>I7TJW
M]GIMLVR>YW.9"N=D:8W<>IR * -2BN9%_<P>.8[!]2G>.:!Y#;2P!8AC;M\M
M]H+-UW#)Z]J@\6:_>65R+.S2Z2&*'[1?75JB/)!%D@%0YQV)/#' X![ '3Q6
MD$$TTT: 23$&1R<DXZ?A[5-61!?O%JT%K)/Y\%[$9;9]N"-H&X''KN!'XUKT
M %%%% !45S;0WEN]O<1++#(,,CC((J6B@!D4:PQ)&F=J *-Q)./J>M+)&DT3
MQ2HKQN"K*PR"#U!K(U;4)QJECI%F_E7%T'E>;:&\N),;L \9)8 ?B>U5[2\U
M+_A.[^PN+J.2Q6RBG@B6+:4)=U.6R=Q.WV'M1O\ B&QOQQI#$L<:*D: *JJ,
M #T%.KFO%9UBULY-2T[4O)-ML,5H(E9;EBP!5R1GGH-I&/>L>]\1:B-1U*\C
MO?)32[R"U?32B$3))LRQ)&[=\_&#CY>AYH6O]?UW#8[VBN#T[Q%J%Q?VFH-?
M;X+K4I=/DTXHF(-N\*P(&[=\F3DD8;C%7->U34SJ&J"PO#:QZ19K=% BL+AS
MN.Q\@D+A?X<'GKQ2OI?^N_ZH+:V_KM^9U%O8V]K///%'B6X;=*Y))8@8')[#
MTJQ6#9:M,-9M[6=]\.HVYN;4E0#'M"[D..OW@0?K6]3M82=S%\2:3J&L6<$%
MA?6]HT<Z3,TUN9LE&#  !EQR.:PY_!.I7]E#:7^L6SQBZFN)3#9LA82*00O[
MP[2-S'//;\>EU76K/1HXWN_M!\PD*L%M),W R3A%) ]ZAT;Q+INO$BQ-R?W8
MD!FM980ZGH5+J-P^E S.F\/Z[<Q6LL^MVQOK&4/:S)9%4(VE6$B[SNR#V*X-
M+%X8O;:[MI[?48 4CN/.#VQ/F22G)88<;0"!@<\=^]=/50ZG9#5AI?VA/MQA
M,_DC[VP$#<?09- ''MX(UM+S0+NWU^SCFTBU>VPVGEEG5L Y'F<<*O0]1^%=
M9=Z;]KT.?3FF.9H6C,I&>6'7'U/2K]%&X>9Q%MX+UA=;LM4O=9LKF:UG,B-]
MA<,$*;#&I,IVKCG '7DYK1M_#FJ0:U:ZH=6A:X^=;TBU(^TQDY11\_R[!T//
M?U-=#<W,-G:RW-S*L4$2EY)'. JCJ326EU#?6<-W;/O@G021OC&Y2,@\^U,#
M N?#^JS-?^7J=H@N+R*YC#6C-L";?E/SC=G:.>.]5;GP=>7/B>/5WU.!DBG:
M1%DMF:5$:/8T8??@+SD87KUS76NZ1H7=@JCJ2<"JVFZG9:O9_:["=9X"[()%
MS@E25/Z@TAG.IX1O_P"RVM)=4@>2*U:TLW%J0L<9P"7&_P"=L*!D%1UXJQ=^
M']5NC?XU.T47=DEM_P >C':RYRWW^0<GCZ<UTM% 7,#4K.:WFL=5EN5(M(6B
MNHX[-Y3,K;<[%4Y!R/\ :XJSX=TR/2],$49F*N[2*)CED4GY4]@!@ =JUJ*!
M!1534M3LM(L)+V_N$M[:/&Z1^@R< ?7-$^IV=M>6EG-.JW%V6$$9ZOM&3^0H
M MT444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
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MR<YQN^:-O5"2!QCO77[0"2 ,GJ?6@*J_= 'T%(0M%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !6%J!+>+M'C<GRO)G=0>A<; #]0"?S-;M5KRQAOD
MC$H(:)Q)&ZG#(P[@T 84-]9GXD75HMS!]I_LV/,0<;^'<].O0@_B*B\2:QI8
MN/#LIO[79)J8",95PV$=3@_4@?4BNJ"@'.!N]<<TFQ3CY1QTXH'<Q[TLGBW2
MO+R/,@G$N!U4;,9^A)Q]36U5:&QBBO)KO+O-+@;G.=JCHH]!5F@04444 %%%
M% !7.^-F8>'@N2(I+JWCF(_YYF50P/L1P?8UT5175M#>VLMM<QK)#*I1T8<,
M#0!R7C:>WDAAL;35HHM3CDCFCTP%2;O# A&3[Q7@],8ZG@5SWB"YAA\=2,TJ
M)&9[9;K2)AS?<#;<)_US[]B(SG&*]+M+1+2WCA#O+Y8VJ\IW-CL">]3E5)R5
M!/KBA:._]?U_2#H<?IFO>'M8\2R:E;ZK9N]M;/!$D<H)$8(+R/CHN0 ,^GO6
M?KMW;QW^NL[I(-7TN.+3F4@BY;#C8GJ<L#_P*N_$:+G"*,^@I=J\?*..G'2D
MU=6_K4$[._\ 6ARX2:U\5Z!%D^:VGS)<XYW!?+P2?9B<?4UU-4[?38;>^N+T
ML\EQ-@%Y#G8HZ*OH.]7*=[B2L<OXXNY]/TVTNHM:ETJ+[7%%-,HBV[&8 DF1
M2!BLGP[XVD>[GTN07NLL9Y!8WL%N MS$H7+%_ECRI9AD8!V^O7H_$FCWVLP6
MD=E>V]KY%PD[>=;&7<5.0.&7'ZU)<Z7=RZ_I^H17<$=O;121R0& DONQR&W#
M;]T=C0,K?\)9;F^$"V-XT4C21V]P%3RYY4!+1K\V0?E;E@ <=:JW/C"(^'H]
M2.GZK!!/!)(SQQQM);A>/F7<><^QQWQ4MCX6GM+Z,2:@LNFV]R]W;6YAQ(CM
MG(+YP5!9B!M!Z<\5-+X:V6.L06=WY;Z@6*&5-Z0;A\P"Y'!.6Z]30/0=?>)8
M+"Z%K]FO+@K )99(%5VC4\ E =QS@_=4BH5\3Q0Z1I\T%MJ&HRW-L+@1JD8E
M\O R[ E5'4<#GG@5'JWAB[U66PD>[LEDM57$WV1O-5QU,;AP54XY4YR.*8OA
M?4X8-,EM]6@CO[2W:UDD-H3%-$2#]S?D,,#!W>O'- !-X]TQ'?R;34+B*.VC
MNWFC@PBQ/_%EB,X[@<^@.#6II>O1:K=SPPVMP(HV95N#L:.0J<'!5B00>S &
ML6Y\&7AMKRTLM4@AMIK!+)!+:EV7:22Q(< DY/&!5W2/#=Q9:[+JMW<V<D\D
M7ELUK:F R].9/G(?&..,@=Z 9T=%%% @HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "LO4KV5;^STVV;9/<[G,A7.R-,
M;N/4Y %:E8^J6LR:MI^J0QM*+</%+&O78^/F'K@J./0F@#*M]5U!KRWU%[IC
M:W-\UD+38NU5&X!P<;MQ*\\XYZ5#XQUJ\TS5K"W347L$N5*VA6-62XN<\12%
M@=JD8Y&.IYZ5JP>'6CU$2&Z#:>EPUW%;^60RS-G)+9Y7YC@8XSUJKJWAG4=5
M=F;5+=?M$!MKE3:%E,>XD&,%_D<9/S'(Z''% S3CO+BVUF*RNG5UNXVDBP,;
M&7&Y<]QR"/QK5K&2S>XUVVE"2+;Z=$\2O(/]:S!>1[ +U[DULT""BBB@ HHH
MH *S==U3^Q]*>Z6/S)2Z11(>C2.P50?;)&?:M*LCQ+ILVJ:,T5L5^TQ2QW$(
M8X#/&X8*?8XQ^- &5KZ:_I^D"^M]9)N+4(1 ($VW3EAE6R,C.=J[2".Y-9&N
M>)=3L?&:6/VYK>0K'-:V1C7RKJ$ F8LY&X.N&P 1T'!R:W;RRUW5[BUO[*_M
MK&*-#BUN[%I&23H6)$B@D<@<$?6J^H>"Y]0U&5Y=4#65Q-#//$]N#+OC  \N
M3/R [1D8/4XQFC7^OZ_KY@K?U_7]?(9H6JZH;_2GOKLSQZS:O<"$HH%LPVD*
MA !*X;!W9.0*77M4U,ZAJ@L+PVL>D6:W10(K"X<[CL?()"X7^'!YZ\5;TSPO
M/ITL;M?I,+*!K?3@T)'DHV/O_-\Y^51D;>![T:CX8N;^=I1J"1-=VRVNHA83
MB9!G[GS?(?F89^;@^U#\OZ[7].H+S_KO]_0GLM6F&LV]K.^^'4;<W-J2H!CV
MA=R''7[P(/UK>K CLFNO$UO<I \-IID+P1EEQYCOMSM']T!<9[D^U;]&G3^N
MPD4M1U?3='B274[^VLXW;:K7$JH&/H"34>FZ]H^LM(NF:I9WK1@%Q;SK(5!Z
M9P:GOH(7@DED12T<;A2W;(YKC!)]F\$:#)9WD]I>26BK']CAC>6;$>[8"X**
M.,DMZ8R,T#.]HKS9M;UB2VT:_;7'BMKZTA^VA$B_T)FQB7E#PQ!7!.!DGH..
MMU^]EA.G6<5XUH+Z8PFZ15+)\A88W KDD <@]:+ :ZW$#7+VZS1F=%#M&&&Y
M5.<$CT.#^52UYK=Q:CH^HZO>QZS$]W;:>DTUPEO&KW.UWV*_4?=X. ">V*)_
M$>KK>:A]@U=YH9-/N+F&:XMHQ"DD;@;8U&'( )!+9!X(S1TN.QZ517#:S=:Q
M9VEC"=;O UQ$\IN+6T263S<+M0)L8"+D\D>F6JOH^H>*Y=3C-Q>VC6]LPMKF
M.6==[/L!W%%BX;+9R&V[1T[T"/0:*YGPI?7\TUY:ZG+=-<QA7VS)&5P<\QR1
M@!D.. 0&'?K734 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4V26.&,R2NJ(.K,< 4ZL/4V,_B?2;*3!MS'-.4/1G3
M:%_+<30!I+J5B]^U@MY ;Q4$C0"0;POKMZXI+W5=/TYX$OKZVMGG;9"LTH0R
M-Z+GJ>17)6HR+' )O?[<E\WCY@/WF?\ @.,?I4'C9G_M=I+4P2)'8DZG#,<%
MK7<>8CVD!#>W3OB@=CO$ECD+A'5BAVL <X/H:?7/ETM_$>E&U&V.\MI/,'=@
M@0H3[C)'XUT% @HHHH **** "BBL#QC/+#H&R)S']HN8+=W!P0CR*K8]."1^
M- &A)KFDPRVT4FI6B27+%8%:9092#@A>>>?2GS:MIUOJ,.G37]M'>S#,5N\J
MB1QSR%SD]#^58?B32]-N-,;1HHK>.:Z145L >3&A!W^P7M[D>]<AXC<KXCO9
M[5XKC31-:K> G$ZW.T>2\1[H<IN'UQWI7_K^ON&D>FVVIV%[<7%O:WEO//;M
MMFCCD#-&?1@.GXT7>IV%A-!%=WEO;R7#;(4ED"F1O10>IKBO#GE?:O"9M1\P
MTR7[40.?X,[_ 'WYZ\YS[TOB'R3J7BG[6 S'2(_LV1G(_>9V>^['3_9IRT_'
M\.WKT$M?P_'OZ=3NHYXIBXBE1S&VQPK9VMZ'T-25RL+2V?BG1AC;+?6,GVM?
M[[($VL?<9(S[UU5.PD[D5S;07EM);74,<T$B[7CD4,K#T(/6J!\-Z&=/CL#H
M]@;.)_,C@^SKL1O4+C -:;LJ(SL<*HR3Z"LKP[XBT_Q/HL>K:<[&UD9E!<8(
M*L0<_E2&(GA;P_';36R:)IRP3@"6,6R!9 #D9&.<'FKMQIEC=V'V"YLX)K/
M7R)(PR8'0;3QQBK&]< [A@]#FJMGJ"WCW:^1/"+>8Q;IEVB3@'<I[KSC/L:
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M /$4 =_6/JES+)JUAI43O$+A7EED0X8*FWY1Z9+=?05S'_"Z_ '_ $'&_P#
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M,CE3CCC(H ].HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ (!&",BF^6G]Q?RIU% #?+3^XOY4>6G]Q?RIU% #?+3^X
MOY4>6G]Q?RIU% #?+3^XOY4>6G]Q?RIU07MS]CLI[GRWD\I"VR-2S-CL ,D_
MA0 CSV<9E#RP*85WR L!L7U/H.#3;*ZL-2M5NK&>WN;=L[986#J?Q%>/1K<Z
M_=^/H--EN#=N]G<*+R-X P4*S(=X&T'! !QQ[5U7@F\BB_X2#6+O_B7:;J-\
MOV6.9U +>6%;802#E@<;2<XXH [.VU+2KR\GM+6\M)KF#_6PQR*SQ_4#D5>
MP,#I7C/P]6>P\8:;92QFXTQ[6YFT>[! D$3."PF4?A@G_P#5[-0 A (P1D4G
MEI_<7\J=10 WRT_N+^5'EI_<7\J=10!%)Y$,322>6D: LS-@  =S6:WB+P\F
MF+J;:MIJV#/Y8N3<((RW]W=G&>.E:QQ@YZ>]>;^"[+1K_P ':M_:UI:7EK;:
MK>2M'/&LBJ0['.T\9Q0!WMA?:=JMJ+K3KFVN[=B0)8'5U)'7D<5)+-9PN4ED
M@1E0R$,0"%'5OI[UD:*=,\/Z186&+6QEN%:6*S3:A9C\[!$'7&>@K@;?4=-U
M?XGZDFHETCN])C01:E;21Q*_F'"E7"Y'3V8YH ]-75=(;2_[46^LCI^,_:A*
MICQG'WNG6K4+VUQ D\+120NH973!5AZ@^E>/:+I]YHRZ7I,UO#'#:^)W\Z6#
M(@E#QLZE5/"J-P&.Q%:EM=S0_";6[<7")=SMJ'V*,OAW0._W!WP/2@#T>QO=
M.U*)Y;&YMKJ-&*,T+JX##J#CO5RN#\([_P#A,[_R=OV3^R;+.W[N_#>G?']*
M[R@"CJ6BZ7K*1IJFG6EZL9R@N(5D"GU&1Q26NB:58V,EC::;:06DF=\$<*JC
M9ZY &#5^B@#.;P_HSV$5BVE636D+;HX# NQ#Z@8P#2RZ'I,]\+Z;3+.2[">6
M)VA4N$QC;NQG&">*T** *=AI.G:5:M:Z?86UI;L2QB@B5%)/4X Q2R:7I\L%
MO!)8VS0VY!AC:)2L9 P"HQQQZ5;HH RQX;T,-;L-'L,VV[R#]G3]UDY.WCC/
MM20^&-!MBQ@T73XRT9A.RV090]5Z=/:M6B@"O96%IIMJMK8VL-M;I]V*% BC
MZ 5770M)2.[C73+-4O,_:5$*XFS_ '^/F_&M"B@"KI^FV.E6HM=.LX+2W!+"
M*",(N3U.!Q4-MH6D6=_)?6VF6<-W)G?/' JNV>N2!FM"B@"I!I6GVU_/?06-
MO%=W&!-.D0#R8_O,.3^-11Z%I,(NA'IEF@N_^/D+ H\[_>X^;\:T** ,MO#>
MAO;6UNVCV#06S%H(S;J5B/JHQP?I4MIH>DV*A;33+.!1(90(H57YR,%N!UQW
MJ_10!2NM'TR^L!8W>GVL]F#N$$D*LF<YSM(QUJG#X2\.6_E^3H.FQ^4_F1[;
M5!M;^\..#[ULT4 9]KH6D6-R+FTTRS@G 8"2*!58!CD\@=SR:GETZQGNHKJ6
MS@DN(CNCE:,%D.,9![<59HH H7NB:5J-Q'<7NFVES/&I5))H5=E!Z@$C@54_
MX0_PR513X?TO;&I5!]D3"@]0..!6U10!1FT;3+B6UEGTZUDDM/\ CW=X5)B_
MW3CC\*?;Z7I]I>W%[;V-O%=7'^NFCB"O)_O$<G\:MT4 9T>@Z/"+@1:79H+D
MEI@L"CS#ZMQSUJ7^R=."VB_8+;;9G-L/*7]R<8^3CY>/2KE% !1110 4444
M%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% %'6/[4_
MLFX_L7[)_:.T>1]KW>5G(^]MYQC/2N,_XN]_U)O_ ),UZ#10!Y]_Q=[_ *DW
M_P F:/\ B[W_ %)O_DS7H-% 'GW_ !=[_J3?_)FC_B[W_4F_^3->@T4 >??\
M7>_ZDW_R9H_XN]_U)O\ Y,UZ#10!YC+I/Q+G:=I=.\!2&X*M,6AG/FE?NEN.
M<=L]*FGLOBG<QQQSVO@:5(V#QK(EPP1AT(!Z$5Z110!YE::3\3+"XFN+/3O
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I7I=% 'FMCI_Q0TV,Q6-GX%M8F8NR01W" D]3@=Z]&_>_['ZU)10!_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>12
<FILENAME>image_005.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_005.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" 3% [4# 2(  A$! Q$!_\0
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M#X,GU[Q%-IVGK%=O 9 WE1 #&,EV/))]:[F?_CWD_P!P_P J^:;+_DVC7/\
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MGHWY7BO_  ))_DQ-M775<W_DMT?0'6BFI]Q?H*=0-.ZN%%%% PHHHH ****
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MY\0:[)XINUN]9^!FK7%R !YHDN(V('0$I""?QJ[=>,M2O/#9\.R_!35UT@@
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ME^&PWJK>OX[E+2+N:_T6PO+BTDLYKBWCEDMI,[H6902AR <@G'0=.@J[110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%
M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%
M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%
M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
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M$3PE/X<B^TQVUQ()9YQ+NGED#!MS.P.22!V_*HBK)>5O_2D[_)?Y;&K^*_\
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M,FK6CNW_ %?;[OSLM"6KOR_X#_6WW7-.1BD3N!DJI./6OG;3=-UWQ=9'7Y_
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M#;PVLJ7QNI,X+(-FW.T)AL8 KIKW1K3QY\1-5TOQ!Y\VG:7:6[6]DL[Q([R
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M:1>ZI=7<>J:Y8P7;F2YL;*_,5O,QZEE SD]\$4<O3U_&W^737Y KWOZ?A?\
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M]16YH'AW2_#&F#3M'MC;VN\R;#(SDL>IRQ)_6N(\<_V]_P +,\,?\(Y_9O\
M:'V.[V_VCO\ *V_)G.SG/I0_B27]:,/LM_UNC2L/'6LPZK9V7BCPA/H<=]*(
M+:Y6^CNHS(02%8IC;G'%59?'_B>YUW5M/T+P-_:D.FW'V>2X_M:*#+8!^ZZY
MZ'WJ2'PWXSU_4]/E\7WNAQV-A<+=);:3'*3-(OW=[2= "<X'6N=T31?$^I^,
M/&<FA>+O[%A35-LD7]FQ7/F-L7YLN01QQBC6]O)_I:_WO\ O;\/UV^Y?B=YH
M&O>(+Q+R7Q'X7&@P6Z!TD.H1W/F#G=P@XP!^M8<7Q \1:A$NH:1X!OKW17!=
M+MKZ&*21/[RPGD@C!'/.:V-/LM3T#0M4F\7>)3K5J(R[R#3E@\J,*=PVQY+9
M'XUCV'AOQ'ING6\GA#Q=%/I1C5[2SU2U$J!",J!*I5PN,#!R0*&]?E_GOU_I
MA_7Y;'7Z#K=GXBT6VU6Q+^1.I(61=K(0<%6'8@@@UA^%_'EKXGU[5=,CLY+?
M[(Q-O*[Y%W&&*,ZC' #*1W[5CW_CR[O/AE<ZA!9^5K<T[Z7#;Q,&#76XQ_(3
MU'5OPKD6G\3^%SX8U.]\%-I&G:$HM;N[74H;@O!)A6RB\_>PV><<TUK/RT7W
MZWO]W_@0FWR:;_Y>7GK]Q[I7*>(O&-SIFK+HNB:%<:WJYA^T-!',D*11YP"\
MC<#.#@8/2NJ1E=%=""K#(([BN*U?2;?6_%=U)H/B.YT?Q'9VZ1W)C@$B/$V2
MF]'&UQG."#QR,TG>Z7]?UW*OI?\ K^NQ:\/^,KG4=8_L37-!N=$U8PF>.&29
M)HY4!P2DB\$C(R,#K765Q.F:WXCTCQ79>'O$;V%\NH1RR6M[9QM$P*8)62,D
M@<'@@UT7B36HO#WAR_U:;E;:(NJCJ[=%4>Y.!^-$I)1YOZ_X?IZBBFY<IBV?
MCVUO/'UUX7%HZ+$I6.]+_)+,H5GC QU4,#U]>*ZZO 9(?'6G>%-/FE\#O%<:
M9>'5I=2_M.%F<DEI28ASRI(QG/ KW33-0M]6TNUU&U??;W,2RQMZAAD527NZ
M[K?^OO7R%?WO)[?U]S^9:HHKQ'Q#IV@^)-7U"YA\+>(_%$RSR1B_>]\BWMW7
MC9$=RJ%4CDE3TZFH<K%V/;J*\1L[/Q%XM^#WAV2**35T@GD%[I[7Q@>\A4LH
M4RCKCCZXK?\ AE+I.FZO>:-;Z1K?A^[>!9O[)OY3+  #R\+-DGEL'G'M6EO>
M<>W_  '^OGYD<VB?];M?UMN>GU@>*?$O_"-1Z6WV3[3]NOXK+'F;-F_/S=#G
M&.G'UK.^)FHW>G^#9/L<\EM)=7,-JUQ&<-$DCA68'L<'K[UQ?B[P+HOA-_#4
MVCO<P&;7+83QR7+R"X;)^<AB?FZ\C'4U,=9+M=+^OD.3LG;>S?Y_J>R5C^*/
M$$/A?P]<ZM-!).(MJK%&0"[,P51D\#DCFO(-7MM5\8>,O$!N?!MQXDM;"\^S
M6Z#719I;;5'(CX)8Y)W'UQVI?$7A[4;GX4R#Q;I,T%SI^H(NGB>^$[I!)(@P
M70X; )7+#.,5*O**:TO;[FTOOU_JPV[/TO\ @F_NT_JYZIH>L>([^6W75?"W
M]EQR1NTC_P!H1S^4P("KA0,[ADY'3%=%7F\6DV.A?$[0],TV#R+.WT*Y6*/>
MS;1YBGJQ)/7N:X_1? FDZA\(Y/$-Y)>R:I;07,]G.MU(GV4HS$!%!VCD9/'-
M-R23ET7^;7Z"BFVH]7;\5<]XHKQ+Q1J&M>(9?">CC2I]:@N=(%[=64>I"R^T
ML0H)9SU Y.T'G=GM2:>OBWP7H_B&ZMO"]QH6D1Z:\D%O)JJ7RQ7 Z,G.Y1@D
MD<CBF]+WZ7_!V_%[?B*+YK6ZV_$]2\8>(O\ A%/"]WK7V7[5]GV?N?,V;MS!
M?O8..OI6S$_F1(^,;E!QZ9KQ'QCX"T;1_A=<:Y:75Y_:<\,#W5W+=O)]LW,G
M#@DJ>3Q@#&!7MEM_QZ0_[B_RIVMS)[IV_ %*_*ULU?\ %%:UNK^74[V"XT[R
M+2'9]GN?/5OM&1EOE'*X/'/6KU>0Z_\ ZWXK_P#7C!_Z(-4]7\&Z=X:\(Z+X
MJL9[XZ_')9AKU[J1C(KLH9"I.W;AB, "IB[VOY?C<)/EO\_P29[57 ZEX\\0
MKXLU/0M!\&_VO_9XC,LW]J1V_P!]<CY77Z]">E=]7D2Z3XAU3XL^+O[!\3_V
M)Y:6GF_Z!'<^;F/C[Y&W'/3UH^TEY/\ 0O[+?I^9VWAO6_%.IWLD6N>#_P"Q
M;=8]R3_VG%<[VR/EVH,CC)S[5T]<SX?T'Q#9?:T\1^*%UZWGCV+"VFQVX3US
MM)W9'&#7GM@L%UXKC^'DU^9- L;QY8BP;$^T*ZVF[&#L))(ST 'K5;R4?Z\_
MP^_8ANR<OZ\OQ^[?8]HK!\1^)?[ O-$M_LGG_P!J7RV>[S-OE9!.[H<].G'U
MKBO^$?L/B!X^\2VGB,3SV>D-#!9V2W#QQIN3<9,(1ELGKZ5F^(M*$>G^$=%3
MQ(VI+#XA^SB[A<>; NUOW;,&;YU'&3@].!4)WY?.WW-O^O\ @A)V4O*_WI7_
M *_R/9:*\OL]!T[P/\5-(L]#$]M9ZK9W+WD+W+R*[IM(<[R3NY/.:Y'7=.T/
M6X+_ %:P\*^)-=G(FDAUZZOO(1"I)!C.X+L7!Q\O;O0Y)*_K^#M_5[%+5V]/
MQ5SWZBO%?(F\61_#%-1O;D-=6DYN)8I"DD@$:Y&X'(SCDCWJTUG%\.?$GB&S
M\-)-%9#P^^H):/,TJ+,K$!AN)/3KS3F^2]^G-^'^8HOFM;R_'0]@HKQ'7_ F
MDVWPHO/$L=Y>_P!LW&GK/<WSW;L;G< 2C*3M(.<#CCC%)XI.J>(/$]EH"^'I
M]>TZTTB"=M/3518HS-_&Q."^,   \?C3=T^7JG;\&_T$I)I/HU?\4OU/;Z*\
MZ^&FG>(])NM1L]0T&?1]%*HUE;3:DEYY3<AE5P=P7&#@].>:['Q)K47A[PY?
MZM-RMM$751U=NBJ/<G _&B;45<J-Y.QBV?CVUO/'UUX7%HZ+$I6.]+_)+,H5
MGC QU4,#U]>*ZZO 9(?'6G>%-/FE\#O%<:9>'5I=2_M.%F<DEI28ASRI(QG/
M KK_ !#/;>.?%GAG1I;B?_A'[_3Y;]XH93&+HX ",5(. #DBBSLEUV_"]_P:
M^1/,KM]-_P ;?JG\ST'6M5@T+1+W5;E7:"TA:9UC +$*,X&>]3V5TM[86]VJ
ME5GB60*>H# ''ZUY/XH\%Z-HW@SQ9I,&IB>QBM!>VVD23,SV3J#AP2Y;83V(
MQD=Z] \%:-I^A>$--M--M_(@:%9BN]F^=@"QRQ)Y)HCK=^GZ_P"7]=!MW2]?
MT_S_ *TOF^+?&6J:#KNEZ/H_AW^V;R_CED5/MJV^T)C/+*0>OJ*H+X_\0:;<
M6[>*/!$^D:?-,D/VR+48KH(['"[E4 @9(YJAX]LM4U#XG>%+?1]7_LF\-K=E
M;K[,L^T +D;&X.:S9M*U[_A-M.T+QUXJN-0TNX=9[#R;.*WBN9D.[RY"HR",
M @9.?6E3=[7ZM_@_SM>WF$W9.W1+\5_G;Y'L-8OBSQ!_PB_ANYU?[+]I\@H/
M*\S9NW.%ZX/KGI6#HI'_  N'Q.,C/V"SX_[[KB=98-X4^(Y4@C^W(N0?>*A.
M]O.S_P#)DBNK];?@V>VJVY WJ,TM>*^,UU3Q+X_N]&/AF?Q#IMA9PL+%=7%B
M@9\DR,."_0 <\8]ZZOX9V7B/3!J5GJNBW&E:6&1["WGU%+PQ9!#H'!SMR 0#
MTSUIQ]Y7_K<F]K?+\CO)98X(FEED6.-!N9W. H]2:YCPYXZT[Q3XAU/3=+4R
MVUC%&XO ?EF+%@=HQRHV_>S@UTEU:V]]:RVMU"DUO*I22.1<JP/4$=Q7%Z#&
MD7Q;\31QHJ(NGV855& !\_ %$?BL^S_(<M(W7E^8E_\ $#4O[0O4T+PG>:QI
M^GR-%>7L=S'$%9?O"-6YD([XQS76Z/JUKKNCVFJ63%K:ZB$L988.#V(]:QO$
M=G?^*=*\GPWXHAL%21X[B2&%;@28X,9(8%"#UP<BN*&JZ1?_  YT?3KNTU*+
M_2GLH]+T1R#>-$2K $X/E\;B2P/J3WE-V:ZZ?C^G;K^8/XEVU_#]=[]#URBO
M#?"$+>'_ (FZ9:Z5X8O_  ]9WUE<-)97-]YOVAT&0VTL2N.!D]<^U>C^']>\
M6ZCJ?D:SX*_LBTV$_:O[5BN/F'0;%&>?6K6MK?U9V%?5^7ZB7WC_ $JV\7Z;
MX:M2+R\NIC%.8G^6VPA;YC@C<<?=X/?ZR>+_ !3>^'Y=,M-*T7^V-1U"5TBM
M1=+;_*JEF;<P(XX].M8_BBQM-/\ &/@B.SMHH$?4KB1EC0*&9HF)8XZDGO5S
MQ-X7B\2>+;"1?$\VFW%I:2K]FLBBW)20@%U9LE!QC(7\14*[BO5W^7]?UTIO
M5^B_$U/#6K^(M4-S_;WA?^PQ'M\H_P!H1W/FYSG[@&W''7UJM/XU@MO"^J^(
MGLY&T^S=U@*-\UR%(7< 0-H+Y .3D#/>N1O;_5?"L7BOP^NKWVJ16NB&^MKB
M]8//$QW*59P!NZ C(H\>^'M+N/@?:^;;;CIUG!):G>PV,0JD\'G@GKFB3NKQ
M\OQ=OT"/Q*+\_P $O\SJ],\5ZJPTTZ_X>_L<7\S01XO5N-KX!3<54 !OF YX
M( [UUE>>>+=$T_P[\'KNUTJW,$-E&ES;H)&8K('#@Y8D_>KOK:1I;6&1AAG1
M6(]"15NVMNC_ $O_ )D1;LF^JO\ U]Z):*\>\6V>@^(O$U^K^&_$/BN:WE6&
M01W)BM;-MO*1D,HSW.<]>O:L&"2]U+X06UE<SW$$D/B6.TC)G\V2W42@!0_\
M17/!]JF+YOP_%I?KZ%2?+^/X)O\ 3U/?Z1FVHS=<#->6S^%=,\$>/_"]QH7V
MJ!]3GEM[X27+RBY C+!FW$_-D9S47A[PM8>-UU/Q+K<]ZVK17]Q%:R)=.GV%
M8VVJ$53@< $Y!S2D_=;71/\ #3]0OK;T_&[_ $.Z\'>)/^$L\-6^L?9/LOG/
M(OE>9OQM<KUP.N,]*WJX/X-C'PSTX;P^))_G'\7[UN:[RM)I)V7]:($[_>_S
M84445(PHHHH **** "BBB@!" 001D'J*X1_A)X>:Z)%WJZ::TOFOI"WK"S9L
M[LF/Z]LXKO*Y.^\?Z5;>+]-\-6I%Y>74QBG,3_+;80M\QP1N./N\'O\ 47Q*
MVX/X7?8=X@\ Z7KU]'?I>:EI-^D8B^UZ5<FWD>,=%;@@@?2D'P\T-/"MSX?B
M^U1V]U()KBX\W=/*X8-N9V!R>!VI_B_Q3>^'Y=,M-*T7^V-1U"5TBM1=+;_*
MJEF;<P(XX].M6/#.K^(M4-Q_;WA?^Q/+V^5_Q,([GS<YS]P#;CCKZT1V=OZL
MT_S_ !$]+?UY?UY%K6?#]IKBZ<+F29/L%W'=Q>4P&73. V0>.>V/K6?=>!]/
MN/$MUKB7FHV\]W;FWNH()P(9QM*@LA!RP!X-6O&'B+_A%/"]WK7V7[5]GV?N
M?,V;MS!?O8..OI6S$_F1(^,;E!QZ9I633_K=:_>A[6_K9_HS-L/#UA8>&(/#
MY1KFPBMQ;%;C#%TQCYL  \>U<U9_"C0[6[A>6_UJ\LK=P]OIMW?-):PD=-J>
MWN36EXT\=:5X+TR2>Z<3WI0M!91M^\EQWX!VKZL1@5=U_P 1)H/A&YUU[?S?
M)@$JP>9MWL<87=@XR2!TI\VKG_5Q<JLH$UAH%KIVN:IJ\,DQN-2\OSE<C8NQ
M=HV@#(XZY)JUJFEV6M:9<:=J$"SVEPA22-NA']#[US.A^)/&6H:I!#JG@/\
MLRQDR7N_[7AF\OC(^11DY.!^-;IUD/XD&C00&5HX//N9=V!""<(.G);#<<8
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M;SP/QJU&S-$C.FQR 67.<'TS2LOZ\]?Z\Q_U]VAS>G^!]-TW_A'_ "KF\?\
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M<CU_"LN'P#I4&F6%@MQ>&*RU$ZE&2Z[C(69L'Y?NY8\<'WI15DD]E;_TIO\
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M^:OYZZ[%R7,[/SU\GLOEIY:>9Q-]C7(O'7B+.^V@L)=,L6!R-J(3*P^KG'_
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M_C3CJM>R?WC;UT[M?=_PQW5%%>,>)]/T#Q)XAU!QX8\1>*YHYS"9Q=F&VM7
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M]_\ /_->6I*26G;_ "_R9Q^B?#O3](U2'4KC5]<U>YM\_9SJMZ9Q 2,$H,
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MCQ!'I_@>+2]6N5WP2S:O.@,*QJ?F)ER,R$ @C'\5>D44K?H_NM;\E]P/_/\
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M),UQJ7E^<KL"B[%VC: ,CCKDFLJ?X?:+=:1J.FSM=/%?7S7[/YH62&8D',;
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MJ22:M?6,/VJZDF=BXV@@ $X4#@# ' KMZJZ;81:5I=II\#.T5M"L*%R"Q"C
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M!G0KJSDLKO6/$5U9;<06L^HEHK?T*+C'';=GI756GABSL]=AUA9KE[F*P6P
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M#_AZP\-:;]AL!*49VEDDFD,DDKGJS,>236K52=V$596.'\>_\AWP5_V&E_\
M1;US.D>!=&\7^)/&;:V+FY@CU4K%;K</'&C>6N7PI&6Z#G/2O2=7T"UUJ[TN
MYN9)E?3;H74(C8 ,X4KAL@Y&">F*-(T"TT:[U2YMY)F?4KDW4PD8$*VT+A<
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MWDD$DX/-6?%G@NTFNO!NBV>G7']DVUS*)#;[_P!R/*;#EQRIW8.XGK71^'/
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M,=Y/S9[U3\.^%+#QEH5WXMU>ZO1KCS7'E727;H;(([*JHH.T  #((.:](OM
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MQ1S3>&])BMKC[/.^L6JQS; _EL6.&VG@X/.*<U:27FE^*%%WC?R?X)_Y#O\
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MU#;L?FHK2HK2Y5ULOOL)/1M]+_A?_(L7OC:/3+>V?4+,6\\FGRW\D#7"[D1
M/E&<;F.1GL,')]9I/%GE^)=!T?[(C_VM:R7'GQW&Y8]B@X&%^<'/7(K9O-(T
MS4)/,O=.M+EQ&T6Z:!7.QOO+DCH>XZ&N,UJ*.#XO>#8H8UCC2QO%1$& H"K@
M #H*E?$EW?Z2_P" 2[J+=^GZK_@C;CQYXGFU_5M-T+P/_:D.FSB"2X_M:*#+
M%0WW77/0^II]_P"._$6B^%+W6=9\&?8IX9HHH+7^U(Y//WL%SO52%P2.HYK
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M31W'VA,C<)$8X8$9Z8ZUTUKX6T_Q/\4_%)U=))[6T:SEBMQ,Z*)?+X<A2,D
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M,D #/X5?HI_U_7WL5E_7]>1E7N@6NH:_IVKW$DS2Z>L@@AW#RPSC!<C&=P'
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MD:,@,%88.,@C/X5GR^%+&6307:6YSHAS;89?G^39\_'/'ICFIBK2OYK\$_\
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MV;,2#[K<<9Z\]:>FBMUV^4OE_GU"2>KO\_FOG_ET,R:,?#C7=:TWPWYPT_\
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M?6<]I-YUO=6,WE2QMC!P<'J..E3Z1X;M-&U75=1@FN))]3>.2?S6! *+M&W
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M$D8.UA_(Y%4]&\ :1I4=YY\U_JUQ>0FWGN=4N3/*\1_@R< #Z 4K/E:>[O\
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M74]3LK*.0X1[FX6,,?8L1FC=7^0=;%ZBJLVI6-O9K=SWMM%;,5"S/*JH2QP
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MU[+#H]A;ZQ=:M%!MOKJ-(YI=['<J9VC&<#&3T%9/B+P!X6\67"7&M:/#<SH
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MHD%Q=KC,H9T+XZ;@I ;I_%FNHHH S)O#VDSIIJ-91JFF2"6S2,E%A8 @$!2
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M;Q7%M,NV2*50RL/<58HH>NC!:;'->'OA_P"%?"MV]WHVC0VUPX(,I9I& /4
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M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
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MUB+7]&GU)]-BU>PDOT^]:I<H95^J9S^E6H;VUN+B>WAN899[<@31I(&:(D9
M8#D9'/->3:]X<\%V/PA&K:=:6$-U':I-9ZA"!Y[7'!7$GWF);MFM;5-63P;K
M^F^)M4;RK75--%M?,1C%Q&OF(2/4C>OY54O=;3Z:?.S:_)K[NY*ES)-=5?\
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MPM[S3/B]X7CGT3P]H<\B7"26VD-\[KL)!D  7'3'?@UI^$O#_AC7_#?B6_\
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M ,4_^28Z_@X_T8_S%*;LKKR_&Q4/>=F=';ZOIEW)<QVVHVDSVO%PL<ZL8?\
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MRC_@&<_I2ZEK.EZ-&DFJ:E9V*.<*UU.L08^@+$9KRS2?#O@0?"K2=9OVALI
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M&FTA+1$L)ED62%"5#!R2W(.>23^=4-3\%>'=8TRPTZ_TU9K:PV_95,CJT6T
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M[.?FP>.*+=/3\-O^ %^OK_P?^"4[3P3X<L(;R*TTN.".\MEM)TC=E#Q $!<
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M5V_99XM0-E/$ .5E)/SC). ./:NE^'OA67PKH4\-Q%;07%Y=/=26]K_JH-V
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M&%!'&N2<*!@#)YZ5+113;OJQ))*R"BBB@84444 %%%% !1110 4444 %%%%
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M-:T>&YG0 "4.\;D#H"R$$CGH:;^*_2[^YV_RV%%-12>]E]ZO_F>7WVC75O\
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M.PRB-FVG8NU< G P/3%:U+HEV2*2U;[ML****!A1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%
M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
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M:%O:((TV*%,;,J\ [LX..:P/#6D0Z;\$;_7M.LXCKK6UTRWHB!G4;F&%?&0
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MPGGN*27?M^K?Z]UL4][K^M$OT\S M;>6Z\?>'+;4Y[>]DE\-2QSRPOOCFRR
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M9-3&F/JU@M^>EJ;E!*?^ 9S^E<%K\1TSX@VL>CV\<+0>&[O[-#"@55(9=H
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M?Y-_I^HN;3FZ?\%+]?T/6=/U.PU:U%SIU[;7EN20);>59$R.HRI(JT2 "2<
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MR294)'M_O,#D#J>PKJ:\GL--TZ\^)'A2YN[&TFN)?#_GO))"K,\JF/:Y)'+
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MGPO8-8Z-:?9;5I#*8Q(SC<>I&XG'3H.*U:** M8**** "BBB@ HHHH ****
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M/PG*\_@_1996+N]C"68]2=@K@M$TG2[?7/B1-!I]G%/"VV-TA5616@RP! R
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M*:V>-KMW"B$$8W$DC 'UJO9^#/#^GQZ?':Z>(DTZ9Y[11*^(G?.X@%NG)X/
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MB@HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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ME&'3]15;PUX(TWPU<S7L=SJ&H:C,@CDOM2N#/,4!R%W'  ^@J8QTL_._G?\
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MQSQ_6LR7X>Z)-X3L/#TANC#I^#:W2R[+B%N?F5U P>?3'M4)6273W=/16?\
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M"/RXJ_M)='_G83;LWU7_  _];GM=MK]M=>)K_0HXY1<64$4TCD#:0Y. ._\
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M +81$NH9B#&55=H &,\@\Y)KG[;X4:+!/&)-3UVYTZ)@T6E7&H,]HF.1A.I
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MR@8(/M5'3OAGI5AJ.FZC)J>LW]]I\C/%<7UWYSD%2NPDCA1G.%QSUS7:4AR
M2!D^E%[/FZA9-6.;M_!.FVWB+4]7CN;[;J<92[L3-FVD) !?9C[V!C.:P_\
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MB&"T6\_M1KQV>=\!MK MM*MTQCTKO;;P3IMKXCU+6([B]VZDA6[L&F!M9"0
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M;7S7^>OX[DQ345WMK]_^7^6QD?#.R\1Z8-2L]5T6XTK2PR/86\^HI>&+((=
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M=ELD[QH'\E?G.T@DCMG@>E=)I?PPT?3M2M[V?4=9U/[(^^TM]1O3-%;'L47
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M(-2_M-;_ %72M0*"*2YTN[,#RH.BMP01^&:;UE=Z[_\ #_+_ (8$K1LM-O\
MACA?$6E"/3_".BIXD;4EA\0_9Q=PN/-@7:W[MF#-\ZCC)P>G K5L]!T[P/\
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M"E9._2[_ "7ZW^_34V/%)U3Q!XGLM 7P]/KVG6FD03MIZ:J+%&9OXV)P7Q@
M 'C\:U/#FA>-(M!\1Z/!I4_AZUFMA_9<<VJ)=^1+R&59%.Y5(QC(XYYKL=:\
M!Z;KD-BTMS?V6H64(ABU#3K@P3JN!D;AG(..A!HL/A]H=GI-_83_ &O43J"!
M+NZO[AI9Y@.F7[8ZC&,'FK:TDN]_G=W_ *O^3(@FE&_2WRLE_6AYQX8M=/\
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MZ6^:;_3^KB;U4?6_RM_G_5C<HKRJV\-Z?\0O&/BAO$AN9X],NTM;*V6Y>-(
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M-%>_DT.Q?581#J!@3[3&"#MDQ\W()'7/2K]6U9V$G=7"BBBD,**** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****  @
M$$'H:XF/X8:/%HM[HZ:AJW]GW-RERL#7"LMNROOQ&"IVJ3U'-=M11UO_ %O?
M\T#U5G_73]3(UGP[::Y<Z5/<R3HVFW2W<(B8 ,X!&&R#D<]L5S]_\+M(O=4N
MKN/5-<L8+MS)<V-E?F*WF8]2R@9R>^"*[>BE9?U_7D@.-C^&>AQ>#I/"\<M\
ME@;@W,+K,!+;ONW#8V.QZ9R?4FNIT^S_ +/TZWLS<W%UY,83S[E]\DF!U9L#
M)]ZLT4[_ -?@*R.-N?AMI-P^N@7VJ16^MJ?M5K'<#RE<D$R(I4X<XZ\UKZSX
M6L=<T>STRYEN$@M)89D:-E#$QD%<Y!&..>/RK;HH6BLO+\-ON!J]V_/\=SE/
M$'P_TW7M3.IQW^JZ3J+($DNM*NS \JCH'X(/Y9K5\/\ AS3_  U8-:V"RGS'
M,DTT\ADEF<_Q.QY)X%:U%"T5D-ZN[.>\3>#M.\4&WEGGO;*]ML^1?:?.89XP
M>H#<\'T(JMHGP_T;0KZ_NX7N[E[^W6WNA=RB7S0,Y9B1DL<\DG\!7544K+^O
M/<'J<%%\)=#CE$9U+79-+!RND/J+&T'MLZX]B:R?B%9J-?AN&\.^*4"6ZQPZ
MKX6F_?D9.8GC&,*.QYZ]J]3HH:O;R_K^O\@TU/*_!?P_6?PYXEMM0M=0TZRU
MR52D,\P>Z6,#[SL=P#L<G!SBO0-6\/:;K>AG2-1@\^T*J "V&4KT8$<AAC.1
M6I13=FK=-/PV$E;7U_$X_1_ASINE:G#J%QJFMZM-;MNMEU2^,Z6YQC*+@ ''
M&3FF:K\-=+U'59]1M=3UK2);EM]TFEWQ@2X/JZX//TQ79T4#*&CZ/8Z#I<.G
M:=#Y5M%G )+$DG)8D\DDY))K%\1> ]-\0Z@FI"]U/2M15/+:\TNZ,$CI_=8X
M((_"NIHH>KNP6BLCEXO .BV_A._\.P"Y2WOPWVFX\W=/*S=6+L#EOJ*Z.V@6
MUM8;="2D2!%+=< 8YJ6BBXK(Y'7OAYI>N:J^J1W^K:5>RJJ7$VEW9@-PHZ!Q
M@@_SJ6Y^'OAZX\-6NA+;2V]O:-YEM-!*4FAD[NK]=QR<D]:ZFBE96L/K<Y70
MO &EZ'<3W;7FIZEJ$T1@-]J5T9YEC/\ "I(P!]!4I\$::W@5?")GN_[/6(1"
M3>OFX#;NNW&<^U=+13_K[M?S$E9W,C4_#MIJT^DS3R3JVEW N81&P 9@I7#9
M!R,'MBN"TWP -:\1>*;R\GUS29)-4/ES65P]M]IAV+P>,.F<\CWYKU2BE;6_
MK^-O\@MI9>7X7_S.<?P1HW]EZ3IMNDMM:Z7=)=0)"PRSKG[Q8$G)))[GUJ.?
MP%HUW9ZS:W/VB6+5KH7<V9 #'( H!C( *XV@]ZZ>BF]=_P"MO\E]P[?U]_\
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M6A#X6L8-:T_55EN#/8V)L8U++M,9(Y88SN^4="![5MT4NM_ZVM^38[+^OO\
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MX4>PKF_']KJVL?%+3=,MK?0+F--.,MM;ZZLC02.7PY54X9P O7L:3>J4>O\
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M.,X;GY>#GFN&\1:G;>"/&%MXBNW$6FZE9&UN6])HP7B/U(WK^5<AXEL-3M?
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M&;2&L;J2WFL_M!G2.3JVQ\D%<GH.!TK*OK#3=<^,4UCXAM[>Z@@TR.33K:Z
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MKD#.!V':CFT;\OQYDOU#7F4?/\+-_H>S6^KZ9=R7,=MJ-I,]KQ<+'.K&'_?
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M^#;[7!K-SH%L]]OWE\L%9NN60':Q]R#712ZC8P6B74UY;QVSE569Y5",6.%
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M7>7TUC:ZE9SW<'^N@BG5I(_]Y0<C\:9?:[I&EW$5OJ&JV-I-,<1QW%PD;/\
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M--N_I^'-_F<Q\3XI!X9M;X(SPZ=J-O>7"J,GRD?YCCV'/X5TW]N:7_8YU?\
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MV'WVDXI+[7=(TNXBM]0U6QM)ICB..XN$C9_H"03^%>5Z?X4\0Z7XKT&^GC\
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MK:"4QWUML:5 VP-*H;!/3(X/M6?KGA[2+WXM^'-,GTZV;3X=*G9+3RP(>'&
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M=C;U+0M-U>*TCOK;S4LYTN(!O9=DB?=/!&<>AXK,\1> /"WBRX2XUK1X;F=
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MGDWL-F\8;@'!R/4&O*-?\'ZQJ?B"XGO/AOHFI7DCMY6K1:B8(=IR%:6 DEV
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MPEH>EW%A/9V1CET^W:UMF,SMY<1.2O+'//<Y-;=%"T&]=S/BT33H=9NM72V
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M , E*W]?UYEBBBBD4%%%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%
M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%
M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
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MDNIZG964<APCW-PL88^Q8C-2RZC8P6B74UY;QVSE569Y5",6.% ).#DD >M
M%FBJEEJFGZGYWV"^MKOR7,<OD3+)Y;CJK8/!]C5N@ HHHH **** "BBB@ HH
MHH BN?\ CTF_W&_E7C/P\^'PUKP#87S>+O%5BLRR9M[/4O+@3YV'"[3@?C7M
M3*'1E895A@BN"_X4I\/=^_\ X1X$YSS>3G_V>IMJ_-?JQMZ+U_0YRTU;3+3X
M97NE:AIZ:K:6NJG3+98)/LZ7S;P59G!P,DG<>AP<CG%8]]9WFE>/?"!G\.^&
MM E;4@JQZ7(#<21D$?-M4 IV)/4D=.:]BE\+Z%-X?_L%]+MCI6W;]E"80<YX
MQT.><]<UC:=\+?!6DR02V.A10S03+/%,)9#(KCI\Y;=CVS@^E4OCYGW7X*W]
M?=8S<;P<5Y_B[_U]YPNK>%;Q-6UW4;'2/"OBW3;BXDDN/M,@6\MV_BC$I.$V
MX..A&.V*I:Q=W'BS4_!<.CV.DK82Z;)):67B%I9(#(K!2.,F1@!QG.02>]>E
MZQ\,_!NO:J=4U+0H)KQB&:0.Z;R.[!6 ;IW!K3U;PGH&N:1'I6HZ5;3V,0Q%
M%MV^7QCY2,%>/0BIBK12[6_)K]=-/F6]9-][_I_EKK\CS*RT;Q-X;N/$DZ-X
M5L[E]'D8:;H+R(WF*/DE\EAP>2,C':J_B#P[X.@^!G]J6MM8I=-9HR7T>/.E
MF.-RE_O-DY!4GUXKU/P[X/\ #_A.WDAT/3(;19/]8P)=W^K,22/QK+D^%W@F
M6[O;IO#]N);Q2LQ5W4$'KM ;"$^JX-.2OIZ?@[_K_2%'1W_KHOT_IZG1Z1_R
M!;#_ *]X_P#T$5Y_H^DZ-XA^(GBS_A([*TOKZVEBCM8;Q!(([;8""B-Q@DG)
M ZUZ3#$D$$<,2[8XU"J,YP ,"L#Q'X$\,>+9(I=<TF*ZEB&%DWM&^/3<A!(]
MCQ3EK/F]?Q%"-H*+Z6_#^OR/)=3M[4^"_%ND6#EM"BUZVBM!&V50,Z>8J'T#
M$_2NO\1>&=$\-^)/!4^BZ7:V$QU,6[R6\81GC,;9#$?>Z#DYKM'\)Z$^A1Z(
M--BCTV)UD2WB)C 96# _*0>HS[]ZMW^CV&J3V4]Y!YLEC-]HMSO9=DF",\$9
MX)X.10M+>37X*PG%M/S3_%W+KXV-D[1CDYZ5X)/X=F\/Z/=:A+H'ACQ3X?CD
M:X.J6T_DWVW<6+&;/+#_ &3S^->^5Q\WPL\$3ZP=5D\/6QNR_F$[G"%O4QAM
MA_*IL^:Z_K6_]:HMZJW]?U\F9EEJ%O<_%^QN%+1K>>'5>%9>&/[S=CGN!7/Z
MKJ,IF^*EUI$V^:.WMU#PMDJ1$0V".X&?RKT;Q%X,\.^*XH(];TN&[$'^J)+(
MR#T#*0<<=,XJ;2O"^B:(]RVFZ=%;?:41)E3.UE0;5&TG X]!SWHE&ZMY-?>[
M_P# 81NK/_#^']7.'3PYX TWPUX:U53#ILB20-:WU@@,\\I &TL%8N&)((/Z
M56\%^%M"UN[\9W&JZ5:WT@UFYC4W,8D\M<#[N?NGW'/2NNTWX;>#](UK^U[#
M0;:&^!RK@L50^JH3M4_0"MK3=#T[2#>_8;?ROML[7-Q\[-OD;JW)..G08%5/
MWN9]T_E>W]=/0F*:27:WSM?_ #_,YCX13/-\--+#DGRC+$N3G"K(P _(5S_Q
M3BU+4?&/A?2[:/1Y8)%FD2'6?,^RRS#& P3[S8)P#QUKTC1]&T_0--CT[3+?
MR+2,LRQ[V;!8DGEB3U)IFMZ!I/B33VL-8L8KRV)SLD'0^H(Y!]P<T3]Z2E_6
MW],J*LFO7\_Z1YWX4\+ZQIGC:5-3_P"$/L8+NQ>.XTS17DC,PXPYA88XSC(Q
M][G-4K6Y:^L[#X:22;KRTU'RKH9Y-C$1(K'V9=B_G7HOASP7X=\))(NAZ7#:
M&3AW!9W8>A9B3CVS5R/P_I47B";7DLT75)H1!)< G+(#D#&<?CC/ I]5V_R=
MU^/X$-73[_\  L_P_$\UU5+;6_$NMRZ-X)T34FM)UM[Z_P!:N00&5>0B,&**
M!CD8!YX/6N;T.1F^%5FA>!DC\5QH@MB3$J^<#B//.SDXSVKU;6/AOX/U[5_[
M5U/0X)[TX+2;W7?C^\JD!OQ!JS#X'\-VVG_V?!IBQ6?VQ;T0)*ZHLP((90&^
M49 ^4<>U3#W;7\OPDG_7YCFN;;S_ !BU_7Y&+X;GBC^*7C6*214D*VD@5C@E
M1&03]*Y.TU71U\%^)Y+RS.JVM[XDEA@MH[CREN'9EV OD +D<D\8[&O1=>\!
M^%_$U_#?:QH\%U=0X"R,64D#H&VD;A['(J7_ (0SP[_9%[I1TJ%K"]F,\\#$
ME6<XY&3\O08QC&.*26GRM^*?Y?<RGO\ ._X6/([ZSO-*\>^$#/X=\-:!*VI!
M5CTR0&XDC((.[:H!3L2>I(Z<UTFB:3I=OKGQ(F@T^SBGA;;&Z0JK(K098 @9
M )Y/J:Z73OA;X*TF2"6QT**&:"99XIA+(9%<=/G+;L>V<'TK3E\&^'YM?GUQ
M].7^TIX&MY9UD==Z$8((!P3CC.,^]*4;Q<5U4E]Z5OR_$27O<W^'\&_\_P #
MR_0+6PU:_P# .F:]'#-IG]A>=:V]P<Q2W.5!RIX8A>@.>M:US8Z=HGQ U?3_
M  _##;6LV@32W]K;*%B20'$;;1PK$$UW%[X*\.:CX>MM!O-*BGTVV0)!$[,3
M& ,#:^=P..^<T_1O!WA[P]ID^G:5I<5K;7"E9@I8M(",<N26/!]:JK[_ #6Z
M\WSYK[^E_/9;"@N6U_+Y6[?TMV>52^$= MOV?X]6CTJV_M-;".Z6]*#SQ)D'
M(?[V!Z9Q7M5D[/86[L<LT2DD]S@50?PUI$GAH>'6M,Z2(1!]G\Q_N#H-V=WX
MYS5>Y\-PS^*=(UA41?[.@EA4[F+$,  N.F."<]>E7*5Y.VS?W:/_ (!*BTEW
M2_5?\$W6^Z?I7BO@TKI'ASP[XCX6.'4[JRNF_P"F,TK $_1PA_$U[6>1BL1/
M"&A1^')_#RV _LJ<N9+<R.<EFW'YB=PYYX/%1JFVO+\_\F:-)JS_ *T_SL>:
MWJFZE\)Z[(/WFL>)A=@\_P"JV,L0_P"^%4_B:LZLMMKGB;7)M'\%:)J;VLZP
M7VH:W<@@,J\A$8,44#'(P#SP>M>DW?A_2[X:<+BT##395FM '91$ZC /!&<
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M>Z?!IT(L[V1I;B!LNCLW7@Y ' X'%9.G?#/P=I,L,MAHD4$L-P+J-UED+"0
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M7J=C<W&D:G8WX@4EC;3K*%(&<'::J>"]:N?$?@[2]7O$B2XNH?,=800@.2.
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MV07M=D4GA?0Y= 70I-*M6TM5"K:F,;!CGCWSWZU1\.^ ?"_A22271=(BMI9
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MM(M+RZEU.]7S;B,.R!7. A/*^O&*J6=Y9WGP^\#:9=:)'KVJ7,3/9VUW<^5
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MGY^G\6<=JJ+\+/!"ZQ_:H\/6WVO?OSN?9N]?+W;/TJ5HUY?YW_K5#M>]^O\
ME;^M&=9;S+<VT4Z!@LB!P&&" 1GD5YT=-TK7OC!J]KXBM;:\-M8P'3;:[ =-
MC9\QE1N"<@ G!Z5Z3TK"\1^#?#WBV*./7=+BO/*^XY+(Z^P92& ]LTG\5UY_
MC_D-?#9^7X?YGD^N:9I,5C\1].TZUMY-(LK:*XAB$8:.VNBK;_+X^4XQTZ9K
MV'PY86>G>'K&"QM(+6'R4?RX(PB[BH).!W)J"'PAH%MX<F\/V^F10Z7,I26"
M,LN\'KE@=Q/OG-;$,2001PQ+MCC4*HSG  P*:T5O3\$_\_P%9N5_7\;?Y?B<
M5X]_Y#O@K_L-+_Z+>M+Q_JMII?@G56N94#SVTD$,3<F61EVJJCN22*N>)/">
MB>+K**TUVR^UP12>8B>:\>&P1G*$'H367HOPO\%^'K]+[3=!ACN4.4DDDDE*
M'U&]C@^XJ>7FBX2V;?XV_P BKN,N=;Z?A<\[UK2=;G\5>&/#ZV^@W+6NAH8;
M?7ED:!Y<A7VJG#. !U'2EDTKQ'X9TCQDXF\,VDLFF;SIV@2R*8F!QYOE,/ER
MI89&.@^M>M>(/"^B>*K-;36].AO(E.4WY#(?]E@01^!IF@^$M!\,64EGHVF0
M6L$O^L RQD_WF8DM^)IRO)2OUO\ B[_\#KY"BN7E\K?A_7D<4GASP!IOAKPU
MJJF'39$D@:UOK! 9YY2 -I8*Q<,200?TKEK31O$/B7Q3XIN(M-\%W\\>H20R
M+KL4TD\4:\(% R%3;@@CU->G:;\-O!^D:U_:]AH-M#? Y5P6*H?54)VJ?H!4
MGB#X>^%/%%ZMYK&C0W-RN!YH=XV8#H&*$;OQS3EK+F[W^5[?Y>7^:BK*W:WS
MM?\ S\SS:XT>X3P1X<TC4M0TZ[C_ .$ECB4Z5<M)%%&2W[H,?F&W)&.2!WK<
MU#PAX=A^*VBZ?#HUG#8W&G3R3VL402*<HR[-Z#AL9SR#SCTKO&\+Z(UCI]D-
M/BCM=/F6>UBB)18W7.#A2,]3USFK,NCV$VLV^KR09O[>)X8I=[#:C$%AC.#G
M ZBCK?S?_I-OS_JXFG:WE_[=?^O\CQ_7+&TTG3/BEIUA!':V*16TB00KM1&9
M!N*J.!GVK0\4Z%X8T?P3HVJZ#;6<6K?:+5K"[@QYUP[.N[+CYGR"V<DUZ)=^
M$]$OO[5^TV6_^UE1+W]ZX\T*,+T/RX'IBJ>G_#WPGI>N-K5EH=M%J!.?-^8[
M3ZJI.U3[@ TH:6O_ '?PN.2O>WG^-CS:]TO7O$7Q.\2K!8>$KZ:V,4<</B".
M61DAV @QJN5VDDY.,YJ#4=&O[#X7ZQIE_?:/)&VL6P2#1[AWCM-TB;HP&^9.
M>0,\9[5ZIXC\"^&?%LD<FN:3#=2QC"R[FC<#TW(02.>F<5-_PA_A]=!31$TR
M&+34D658(BR#>K!@Q*D$G(!Y//>B*LDGY?@T_P"OS')-ZKS_ ":_K\B[I.BZ
M7H5K]FTK3[6RA)!9;>)4#'&,G Y/'4TFHZSI^ESV<%]<B![Z7R+<E3AGP3C=
MC . <9QFM"J6K:/IVNZ?)8:I9Q7=K)@M%*N1D=#['W%$KL:26AP-EI;>#_B5
MIUK:ZK>:L^LQ3?:_[1=99X$0;E99  P3)QM/'/%:?Q%54/A8*H .OVYX'?YJ
MV?#G@GPYX2$G]AZ5#:-(,/(&9W8>FYB3CVS6CJ6CV&K_ &7[=!YOV2X6YA^=
MEVR+G#<$9ZG@\4]N7R?ZWL)W?-YI_DU<O45AZ_X?CUN]T:=U3.G7@N@[,V1@
M$8 '!SD#GMFMRA!U.;U[Q0]E?KHFCVIO]=FC\Q8<XC@3IYDK?PK[=3V'>N3\
M9>'#H7PUNWDN&N;M]0@OM0NBN/,;S4+-CLJ@  =@*Z#6OA;X-\1:M-JFJZ.;
MF\FQYDANYES@ #A7 ' ["KVA^!/#/AS3[VPTO2DBM+T8N8GD>59!@C!WL>,$
MTE>U^O\ DT[>FFH22;MT_P TU?UUT,7XD3P7VE:!:V]Q&\UWJ]HT 1@2X#[B
M1Z@ 9S6GK?B6Z?49/#_AR 76L!09I7'[BR5NCR'N<<A!R?8<T:'\.?"/AO5&
MU+2=%AM[PYQ+O=]N>NT,Q"]>V*IZE\)/ ^L:E<:C?Z*9[NX<R2R&\G&YC[!\
M#\*+=.FK?W)6_#4-=^MK?C=_\ T;)-(\!:#:VUY>LJ37&U[J923-<2')9R!A
M=S=S@#@5R^H:6WA3X@:-J-KJUYJ=SK%X]M+;:@Z3&&%@7)A.T-&JD#C.,=:Z
MO2_ WAK1M"N=$LM*B73;EB\UO*[2JYP!D[R3V'Y4SP]X!\+>%;F2YT71X;6X
M<$&7<TC@'J 7)('L*K[?-_7I_7037N\O]>O]=3I*\A\%>$]!UC0?%%WJ>E6M
M[.=4O462XC#F,!C]PG[OKD8KUZL[3="TW2+6YM;&V\J&ZFDGF7>S;G?[QR22
M,^@XK.46U*W5-?B7U7D[_@>3:=?VE_\ #SP/IMWH<>O:I<([6=M=7/E0#R\@
MM)G(; ( 4@Y]JC\-0SV'Q?2VN=/T/1&DTB87%MH\G" $8:3 "@]QCMUKTF[\
M >%K[P[:Z!=:1'+IMKS!$TCYCYSP^[<.OK1HWP_\*^'[RWO-)T>*TN($:-)(
MW?)5L9#9/S]/XLX[5;UDV^M_Q5O^'W^1FHM04?3\'<\F;0I?"NB+J%YX<\,^
M)- MG6==8T^?R+P@,3O,F<NP..%//3Z>]6\RW-M%.@8+(@<!A@@$9Y%<FOPL
M\$+K']JCP];?:]^_.Y]F[U\O=L_2NPZ4T_=L_P"M/ZZ(JWO77]:_UU/,;O2=
M#UCXX75OK,%O=%=(A>"VN0&1VWOD[#PQ ]CC)KFM:<Z+I/Q$LO#'EQ:5$;8;
M82?+@=\"8+MZ#;R<=/2O4M:\"^&O$5S/<:OI4=U-/$L+N\C@[5)*XP1M()/(
MP>>M7M+\/:1HND#2=.T^""PP08 N0V>N[.2V>Y.:SY?=MY/YW=]?Z_X+^U?S
M3^Y6_K^K>.-X/\06]EI=]%%\.-(BBFBDM]1LVF@E;D8 D(^;<.,'.<U/>Z7K
MWB+XG>)5@L/"5]-;&*..'Q!'+(R0[ 08E&5VDDY.,YKT/3?AEX,TC5QJECH%
MM%>!MRN6=E0^JJ254_0"K7B/P+X9\6R1R:YI,-U+&,++N:-P/3<A!(YZ9Q5O
M=/U_&W^7D2E^GX?UYGE>HZ->V/POUC2]1O='FB;6+8+;Z/<.\=H&D3=&-W*<
M\@9.,UU/B+PSHGAOQ)X*GT72[6PF.IBW>2WC",\9C;(8C[W0<G-=C_PA_A]=
M!31$TR&+34D658(BR#>K!@Q*D$G(!Y//>KU_H]AJD]E/>0>;)8S?:+<[V79)
M@C/!&>">#D4UH[^:?R2L)Q;37D_O;N7J\>U!+;7=7UR]T?P5H-]%%=-!>ZGK
MET#\ZC:Q56#%$'L1GL*]AKE-3^&?@W6=9;5]0T*WGO6.7<NX#GU900K'ZBH<
M;O[_ .OZL:7T/+=!N@GPR\(RSS1>1!XG5=Z,3&B;WQM)YV\\9KT#Q+=0M\5O
M!ULDJ-<)'=NT8;D QC!/UQ6_'X*\.1:!/H2Z5#_9<TC2O:L69 Q.25R?EYZ
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MZ6^U"RTNU:ZU"\M[2W7AI;B58T'U)(%>*:;X5T)_V>Y-5DTNVDU(:?+.MVZ
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MO86_V<J)O.N43RBW*ALGC/;/6O#?$]C=Z6^@SMX5\,^'L:E;&W>RG#W;@L.
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M,-*K*7V[6ZJ!@<"AR2BY=%KY_$U^A23<E'J[+\+GL=_J5CI5J;K4;VVL[<$
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M-E'/HI%SIVF?/#D.!B1<!=W7@#H1FM*F\DO[UOE?^ONOU,X/W(M^5_G;_/\
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M?^(/AS4M9UA9)_ NF^)K!%46[)?FRN83_$'8G#KGH!Z]*].HI-;>0=WW//\
MPA\.[:S\/7UKK6GVL7V^]6\-C:2,(K?9CRU##!)&T$GH36UXB^'OA7Q7=I=:
MUH\5S<*H42B1XV('0$H02/K7344WK_7R$E8Q;CPCX?NO#?\ PCTNE0'2< "V
M4%5'.<@@@@Y[@YJGJ?P^\*ZQI-GIFH:/%/:V48BMPSN'C08X#@[L<#O7344/
M7<:TV,"W\$^'+3PY/X?MM*BATNX&)H8V93)[LP.XG@<YS6K=:;97VFOIUW:Q
M3V;IY;0RKN4KZ'-6J*'KN"5MCF-!^'?A/PQ?M?:1HL-O=-G]Z7>1ESUV[R=O
MX8I^I^ /"NLZW%K.H:+;SW\9!$IW#<1TW*#AO^! UTE%';R"V_F4-&T;3] T
MR/3M,M_(M(RQ6/>S8+$D\L2>I-<WXM\+OXB\5^'GN-/CN])@2Y2\$C+@!T 7
M@G)Y';I79T4FKM-_UT#HT8OAWPCH/A.V>WT/38K-)#ERI9F?ZLQ)/XFLMOA?
MX*:]O+L^'[83WB,DS*S@888;: <(3ZK@UUU%-ZN[!::(Y[5/ _AO6EB74M+C
MN1%:_9(P[O\ +%D' YZY4?-U&.M.L?!/AS3?#USH-EI44&FW*E)XD9@9 1@[
MGSN)QWSFM^BCOYAM;R,V/0-,BU*TU!+;%U:6QM()/,;Y(CCY<9P>@Y/-8UW\
M-?!M]K@UFYT"V>^W[R^6"LW7+(#M8^Y!KJZ*.MQ65K=     & *Y76/AOX/U
M[5_[5U/0X)[TX+2;W7?C^\JD!OQ!KJJ*.MQ]+&)9>$= T_2;O2;;2X$TZ[=I
M)K4Y:,EL9PI)"C@<# JOX>\!>%_"MU+<Z+I$-K/*"&DW,[8/8%B<#V&!71T4
M;.XK:6.4N_AKX-OM<&LW.@6SWV_>7RP5FZY9 =K'W(-6_$?@CPWXM$7]MZ3#
M=-",1ON:-U'IN0@X]LXKH**5E9+L/K<R[3PWHMCH;:+;:9;1Z:ZE7M@@V,#U
MSZY]36/IWPS\':4R-8Z'%"Z7"W*N))"PD7.TY+9P,GY>GM7644[ZWZBLK6Z%
M&RT>PT^^OKRU@\NXOY%DN7WL=[!=H."<#@=L52?PAH,FB7FC2:<CZ?>2O-/"
M[L0SLVYFR3D'//!&.V*VZ*5EL/9W,73_  EHFES64MG9&-[*V:TMR9G;9$3D
MKRQSR!R<FIK;PYI5GX?;0H+79IC1O&8/,8Y5\[AN)W<Y/>M2BF]=P6FQYUXZ
M\,7=U9:?I]GX0TWQ#HMK"(UM)+QK:YA88 *3$_=P!D=3CJ:D^''@R;0+S4=6
MN-(M=%-W''##IMM-YWDHF>7D_B<D\GVKT&BA:7??]1-)V78K:A86VJ:?<6%Y
M'YMM<1M%*FXKN4C!&1@C\*JOX>TN1]+9K7)THYLSYC?NOEV>OS?+QSFM.B@>
MYGZ?HFG:59W%I96_E07$LDTJ[V;<[G+'))(S[57/A713X8'APV7_ !*0@C%O
MYK_=!SC=G=U]ZV**/Z^[;[@*%[HNGZC+8275OYCV$PGMCO8>6X! /!YX)ZYJ
MCI?AV/3_ !3K>M*$5M1$*E59B3L4C<<]"<XP.,*#U)K=HH6COZ_CO^0K*UO3
M\-BO?6-KJ=C-97MO'<6TRE)(I!E6'H:Y.U^$G@6R4BW\/PHV]9!(9I2ZLI!!
M5RVY>0.A%=I10M'=#>JLSE]?^'7A+Q/?K?:QHT5Q=* /-$CQLP'3=L8;OQS6
M_86%II=C#96-O';VL*[8XHUPJCV%6:*%HK('J[LP_$?@_0/%L$<.NZ9%>+%G
MRV+,C)GKAE((Z#O2Z7X0\/Z+HLVD:?I5O#83@K-#@MYH(P=Q));CU-;=%*RL
MUW#JGV.2E^&/@V;0H=%ET2-[""1I(HVFD+(S<MM?=N&<#C.*M:+X#\,>';R*
M\TC2(K.XCA,(DC=LLAP2&Y^8\#ELFNCHIBLCG[+P/X:T^'4H+;2(%@U-MUW"
MQ9XY#S_"Q('7L!4&@_#OPGX8OVOM(T6&WNFS^]+O(RYZ[=Y.W\,5T]%"TV&]
M=SF]3\ >%=9UN+6=0T6WGOXR")3N&XCIN4'#?\"!K5T;1M/T#3(].TRW\BTC
M+%8][-@L23RQ)ZDU?HH6BL@>KNRC=:/87FJ66I7$&^[L=_V>3>PV;QAN <'(
M]0:;I^B:=I5G<6EE;^5!<2R32KO9MSN<L<DDC/M6A12LK6#K<IZ5I=EHFEV^
MFZ?#Y-I;KLBCW%MH^I))_$U3U_PMHOBB&WBUFP6Z6WD\V$EV1D;U#*0?UK8H
MIO5W8)65C/L=$T_3;^_OK2W\NYOW5[E][-YC*-H."<#CTQ5:/PGH4>E7FF?V
M;$]C>3///#*3(KR,<LWS$XYYXZ=JV:*5EL&QS7A[X?>%?"MTUUHNC0VUPP(\
MTN\C@'J 7)('TJS_ ,(?H7V#[%]A_P!'^V_;]GG/_K]V[?G=G[W..GM6Y13O
M_7X_F*R"BBB@84444 %%%% !1110 4444 5[_P#Y!UU_UQ?^1KQO2=(MM&_9
M^EUK2[*%-9FTYR]\L0\_:S8;Y_O8"]L\8KVJ2-98VC<95@5(]0:J:;I%AI&D
M0Z596XCL84\M(68N OH2Q)/7O4.-U+S2_-L:>L7V_P" >'_\(?KX\.V%];Q?
M#?3+=/*EM]5MVGAF!R"#YI')/0@YSFNJBT?1-:^-&L1:Y;VEY,FFVSPVTX#Q
ML<-N8(>&(]<<9-=+9_"_P58:P-5MO#UJEV&W*<L44^JH3M!X["LR^^']IXC\
M<ZY<^(=(CNM*N+:V6WD:3!\Q-V[!5@Z]1Z9]ZTO>2^?Y6_K1&?+9?<OQ_KJ<
M7J1CTW0O&FGZ0YB\.IJUK$WDN0D4;[?M"J1T7GG'3)K?\;:#X9\/Z5H>H>'+
M&QLM5%_;K8262*KSAF 8$CEP5)SG->BV6@:3IVC?V/::=;Q:=M*&V"#8P/7(
M/7/?/6L?1?AQX0\/:FVI:7H<$%X22)"SOL)_NAB0O7MBE'1KRMKUTZ?UW>X2
M3:?G?3IK_7_#'->'O#.C:U\0_&]SJVF6E^T=W#'&MU"LJH#$I) 8$ GCGVJW
M\)=-TZTTG6)K6RM89O[6NH6>*)5;8LAVJ2!G [#M7:V6CV&GWU]>6L'EW%_(
MLER^]CO8+M!P3@<#MBJFF>%-$T?6;[5M/L%M[V_YN9$=L2'.<[<[0<\Y %*'
MNV7E;YWN-J^OG?\ 0SO%@CTG4-+\4,P2.Q=H+QS_ ,^\F 2?]UPC?0&N*AU>
M_P!#$^I 3&Z\76[36<;@X2YW;8DQV_=.A/\ US8UZQ>V=OJ-C/97<0EMKB-H
MY8R2 RD8(XJ*;2K&X:Q::V1S8OYEMG_EFVTKD?@2*%%;/;]'O]^GXE/NOZ:V
M_6YYE=>$]*7XD^%-"N[9+NSM=&FS',-RR,&'+#HV22>>]07%C::+KOQ%TS3+
M6*TL6T1)_L\*[4#E'!(4<#(]*]1ET73YM<@UF2WSJ$$+01S;V^5&.2,9P>G7
M&:@G\,Z1<WFHW<MINGU&W%K=/YCCS(@" N,X'4\C!J9)N-N_-^.P1]V2?9Q_
M#<\S6UL]5U[X>:;K<44VE-HYEB@GYCEN B@ @\,0O0&H?'FF>&-'\->,K#0;
MAH;EX[:6[TZ!=L$!\Q0&4!<*Q[C/;H*]-U+PAH&KZ%!HNH:9%<:?;H$AB<L3
M& ,#:V=P..,YS56V^'_A:T\/3Z#;Z1%%IMPP::)9'!D((()?.XX('>M):MOS
M;];R3U^[SZ;$TTXI7\OP36G]=]SCO%WAW1?#H\'ZCI.EVMI>C6+>-KB*,+)(
MK@AM[#EL^^:].O[F&STZYNK@L((8FDD*YSM ).,>U5M2T+3=7BM([ZV\U+.=
M+B ;V79(GW3P1G'H>*T&574JP!4C!!'!%3*[BTN[_%(<%9QOT23^1\[^(K1)
MOA[<ZI8^"O#6EZ3-;F6WO[RZ$MXV3D$, 6,A[ L<'J>U=;]GM=>\=^$K+Q%%
M%=6!T$3VT-UAHY;@[0Q*GAFV]C73K\)/ :W$\X\-VI><%7!=RHSUVJ6PI]U
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M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !16'K/C+P[X?(74]7M8)#TCW[G/_  $9/Z5FV7Q,\+7VH16*
MWTL$\Q B^U6TD(D)Z;2Z@&@#KJ*** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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MO-+)%%/&\D?#JK@E?J.U("6BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***0,"< C/IF@!:***
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M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
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M8TN32=#BBN#F[E9I[@^LCG)_+I^%#ZL#8HHHJ "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** /-/&/B"#P)\0K#
MQ#J8_P")5?V+6,DB+N>)T8N"!UP<XXJY9?%!-:CWZ!X:UG48R<"0*D2$=CEF
MKK=;\/Z3XCL?L6L6,-Y;[MP20=#Z@CD'Z5Q5K\#_  7:79GAAOU!S^[6\=5&
M?I@_K0!2UGXL:EH\4BW>A:?:W*L MO+JJ22-]$C5C267B+XF>,=*,FF:+8Z
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MCG;74>'?#<VBWNHF6:*2S:9S81*#F&.0AY%.?5^F.P%8Z^#-570+KPF9;)M
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M(MXUZ+'F3@<GKNYYZ\U5O] FU/2-/L[G0_&OVK3\BVU.*_L([I <9&]9@",
M#D=O7FO3J*5OZ]/^'8?U_7W(\RU'PZFIZ19V4OACQ@ES9R&6'4DU*T^UJY&"
MWFFX))( 'IP,8P*L2:7/)I5C9_\ ".>+_/LK@7,-_)?6,MQY@!&XM).P.02,
M$8QVKT6BG_PXK(\X.BJ[ZXTWA/Q7*=:C$=T'OK/;PH7*J+C /&<X/Y<4MSIV
MHW6I:/?OI'C(3:4#Y6)],Q(2,,7S)SD<8&!Z 'FO1J*%I:W3^OU863_K^NR.
M+N&GN?$5IKC^#?$(N[:%X5 N+$(P;NP^T<D<X]-QK)UK0WUG6QJZ>'?&>FWC
M*J3OINIVD'VA5Z*^+CG\,'WKTJBBVWD,YN#6K^VMX[>+P5KBQ1J$5?.LC@ 8
M_P"?BL!+&^M#)'I>A>+M,LY'+O9VEQIOE$GD[=\K,F>?N%>M>AT4/5W#R/.]
M4TN34/"__".P>%?$^GZ>?]8+2?3R\H)R=S23,22>2>I/>H=0TO5=3;2GGL/&
MHDTQO,@=)=)!+X(WL-V"<''3&.V>:]*HHZW^8K+8\[?3[J;Q)<ZU<>'?%<[7
M5K]CFM))=,\AXN?E($H;J2<[N_IQ4/AS0W\,SL]KX=\:7$ !6"TN]3M)(+=3
MV1/M&!QD9.3R:]*HH6G]?UW?WC/+]+\-G1K^2XL= \;16Y):&Q.IV;6UNQ_B
M2,W!&0>1NW 'M6[X*L[G08?[*&D>(A;2S23&YU*6Q81LV6;_ %,FXY;_ &3R
M>PZ=G10M!6ZA1110,**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M$-W.]Q)<:E+8LL;MEF/[E]WS'_9."1T&:[2BB@84444 %%%% !1110 4444
M%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4
M444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !11
M10 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4
M444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !11
M10 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
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M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4
M444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 17+3K;2-
M:QQRSA3Y:2R%%8]@6"L0/?!^E<-X?T?QEH6A3:6ECH+M+<33>>VHS$)YCEL;
M/(&[&['WAG':N^HI-)WOUT#MY'!6W@2]T;2/"T.G74%U<Z).\CBZ9HDF$BL'
M (#%<;N!@],4QO VLRGQ YU2SMY;Z^CU"RDBA9F@F0*!NR<%3MQC'<\]J] H
MIO5W_KI_DB>5?U\_\V<!J>B>/-=\&ZGI>JW'A]KR[B,$:VQFCB53U=F96);C
MA0 .3STJ=_#>N7?BK2M0N[;3!8P:9)8W*)>2,YW[=Q4>4 0-O<C.>U=Q2$A0
M22 !R2:3MU_K1K\FQV_KYI_FD</:>$-7;0[/PSJ$ME)H]E-&R7*._GS11L&1
M&0J%4Y"@L&.0#P,\3:CX2O-1\16FI/%817%O<^:NIP.R7(B#9$)4+AU*\$LW
M&>A(R>NMKJWO(1-:SQ3Q$E0\3AER#@C(]""/PJ6JUO=[[_U_7YBLK6_K^OZZ
M*V+XHM]8O=(>TT>.S9YSLF-U</#B(_>"E48[B,C/&,YYQBN;\2_#ZVGT: ^&
M-!T'3M:BFCFCN540>2RD-PR1EG'&,'&0:[ZBIL5ZG%76D^*;OQ9H.M26FCJ+
M&WFBN(UOI?F:3 )3]ST&T'GU([9,>B>$-3_X177=%UHV<+:C<SW$<ME.TNPR
M-N'WD7E3CUS[5W-%%M&OZWO^8K=?ZVM^3.0TBR\>BWN(-9U30V"1,EM+:V\F
M^1L85I=QV@=RJC\?6M9>'-0T";6=5TZWT?3)9H-L=LDTAM990<B:1=J[">F%
M!_WC7<44WWZA9;%.TFO9M'AGFMXDOGA#-#O(028^[NQD#/?&?:N:T_P?#?0W
M5UXJ\/:!>:K+*[B; N RG[J[GB!4 87 !Z9ZFNQHH:3;8UHDCRU?!_C,> KO
MPKY.A^0TO^BR&_F/DQ>9O$9_<?-CH#Q].*UO&T6KZE%HFDZ?)I$6KN6N#!=R
MS!,(NTF.6/:X(+C!7!/T!KO*J:AI>G:O;_9]2L+6]@SGR[F%9%S]&!%)J_X?
M@K DOS_'4X+3/#?B&ZT"]T._.D6%_:S17EI>Z:TLRB;=N_>^:2[-P,DDY#"K
M.IZ)X\UWP;J>EZK<>'VO+N(P1K;&:.)5/5V9E8EN.%  Y//2NYM;2VL;9+:T
MMXK>!!A(HD"*H] !P*FINS_K^NR$E;4XN/0?$#>,M&U>:#3$M;33WLYE2\D9
M\MM)*@Q $#:.I&<]JSK[P;XB;P"OANU.EN\5VLD<LMQ(@,:S&4$XC/S'@8Z#
MDY/2O1:*.M_ZWYOS$HI:?UM;\CBET;Q-_P )E?ZX;32?+N-,6S2(7TF0ZDMD
MGR>A+8^@S[5F:'X*\0Z?:>'H;PZ5/'ID$L#P&>1HPS$%9US&,N.1M('!X89K
MTBBE96M_77_Y)_TAM7_KR2_1&!X+T2\\.^%K32KV6"22WW*'ASA@6)SS]>G;
MU-;]%%4W<$K!1112&%%%% !1110 4444 %%%% !1110 4444 %%%% !1110
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M'1[JXBNXXFD9V2./(*,< G=CJ!D'MCG9LW\07LT<>K6>F7&DWMJ6D6)2# Q
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M*$"E5([$C)QBNHIKX4O)#ZOU_P @HHHH&%%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%
M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%
M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
1110 4444 %%%% !1110!_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
