<SEC-DOCUMENT>0001292814-24-004039.txt : 20241106
<SEC-HEADER>0001292814-24-004039.hdr.sgml : 20241106
<ACCEPTANCE-DATETIME>20241106160600
ACCESSION NUMBER:		0001292814-24-004039
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20240930
FILED AS OF DATE:		20241106
DATE AS OF CHANGE:		20241106

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:		241430894

	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>pampr3q24_6k.htm
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<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>

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<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;November,
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>

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<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>

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<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>

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<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"> Earnings Release Q3 24</A></P>


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<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;November 5, 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>

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<DESCRIPTION>EX-99.1
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<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0; text-align: center; color: #5F6062"><FONT STYLE="font-family: Verdana"><IMG SRC="image_001.jpg" ALT="">&nbsp;</FONT></P>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: top; text-align: left">
  <td style="border: rgb(0,129,197) 1pt solid; padding: 10pt; width: 100%"><p style="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #006FC0"><FONT STYLE="font-family: Verdana">Pampa
                                            Energ&iacute;a, an independent company with active participation in the Argentine electricity,
                                            oil and gas value chain, announces the results for the nine-month period and quarter ended
                                            on September 30, 2024.</FONT></p></td></tr>
</table>

<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: right; color: #5F6062"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: right; color: #5F6062"><FONT STYLE="font-family: Verdana; font-size: 9pt">Buenos
Aires, November 6, 2024</FONT></P>

<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: right; color: #5F6062"><FONT STYLE="font-family: Verdana; font-size: 9pt">&nbsp;</FONT></P>
<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
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    <TD  STYLE="background-color: rgb(242,242,242)"><p style="font: bold 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 3pt 5.65pt; color: #0070C0">Stock information</P>
                                                    <P STYLE="font: bold 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 3pt 5.65pt; color: #0070C0">&nbsp;</P>
                                                    <P STYLE="font: bold 9pt Verdana, Helvetica, Sans-Serif; margin: 0 0 3pt 5.65pt; color: #0070C0">&nbsp;<IMG SRC="image_003.jpg" ALT=""></p>

<p style="font: bold 8pt/110% Verdana, Helvetica, Sans-Serif; margin: 6pt 0 0 5.65pt; color: #5F6062"><FONT STYLE="font-size: 8pt"></FONT></p>


<P STYLE="font: bold 8pt/110% Verdana, Helvetica, Sans-Serif; margin: 6pt 0 0 5.65pt; color: #5F6062">Share capital<BR>
as of November 5, 2024<FONT STYLE="font-weight: normal"><BR> 1,363.5 million common shares/<BR>
54.5 million ADS</FONT></P>

<P STYLE="font: 8pt Verdana, Helvetica, Sans-Serif; margin: 6pt 0 0 5.65pt; color: rgb(95,96,98)"><B>Market capitalization</B> <BR>
AR$4,377 billion/<BR>
US$3,692 million</P>

<P STYLE="font: bold 9pt/110% Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 5.65pt; color: #0070C0">Information about the videoconference</P>

<P STYLE="font: bold 8pt Verdana, Helvetica, Sans-Serif; margin: 6pt 0 0 5.65pt; color: #5F6062">Date and time<BR>
<FONT STYLE="font-weight: normal">Thursday November 7<BR>
10 AM Eastern Standard Time<BR>
12 AM Buenos Aires Time</FONT></P>

<P STYLE="font: bold 8pt Verdana, Helvetica, Sans-Serif; margin: 6pt 0 0 5.65pt"><FONT STYLE="color: #5F6062">Access link<BR>
</FONT><FONT STYLE="font-weight: normal; color: #00B0F0">bit.ly/Pampa3Q2024VC</FONT></P>

<P STYLE="font: bold 9pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 0 5.65pt; color: #0070C0">For further information <BR>
about Pampa</P>

<P STYLE="font: bold 8pt Verdana, Helvetica, Sans-Serif; margin: 6pt 0 6pt 5.75pt"><FONT STYLE="color: #5F6062">Email<FONT STYLE="font-weight: normal"><BR>
</FONT></FONT><FONT STYLE="font-weight: normal; color: #00B0F0">investor@pampa.com</FONT></P>

<P STYLE="font: 8pt Verdana, Helvetica, Sans-Serif; margin: 6pt 0 6pt 5.75pt"><FONT STYLE="color: #5F6062"><B>Website for investors</B><BR>
</FONT><FONT STYLE="color: #00B0F0">ri.pampa.com</FONT></P>

<P STYLE="font: 8pt Verdana, Helvetica, Sans-Serif; margin: 6pt 0 6pt 5.75pt"><FONT STYLE="color: #5F6062"><B>Argentina&rsquo;s Securities
and Exchange Commission<BR>
</B></FONT><FONT STYLE="color: #00B0F0">www.argentina.gob.ar/cnv</FONT></P>

<P STYLE="font: 8pt Verdana, Helvetica, Sans-Serif; margin: 6pt 0 6pt 5.75pt"><FONT STYLE="color: #5F6062"><B>Securities and<BR>
Exchange Commission<BR>
</B></FONT><FONT STYLE="color: #00B0F0">sec.gov</FONT></p>
</td>
    <TD STYLE="font-size: 8pt">&nbsp;</td>
    <TD STYLE="vertical-align: top; font-size: 8pt; text-align: left">
<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-left: 0pt; text-align: justify; color: #0081C5"><FONT STYLE="font-family: Verdana"><B>Basis
of presentation</B></FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify; color: #5F5F61"><FONT STYLE="font-family: Verdana">Pampa&#8217;s
financial information adopts US$ as functional currency, converted into AR$ at transactional FX. However, Transener and TGS adjust their
figures for inflation as of September 30, 2024, which are expressed in US$ at the period&#8217;s closing FX. The previously reported
figures remain unchanged.</FONT></P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 10pt 0 4pt; text-align: justify; color: #0081C6"><FONT STYLE="font-family: Verdana"><B>Q3
24 main results<FONT STYLE="font-size: 10pt"><SUP>[1]</SUP></FONT></B></FONT></P>

<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: justify"><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>14%
year-on-year sales increase in Q3 24, reaching US$540 million<SUP>[2]</SUP></B></FONT><FONT STYLE="font-family: Verdana; color: #5F6062">,
driven by increased gas production in line with the last Plan Gas round, improved availability, dispatch and prices in power generation,
and higher reforming volumes. These effects were partially offset by lower gas sales to industries and Chile, reforming prices and local
petchem sales.</FONT></P>

<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: justify"><FONT STYLE="font-family: Verdana; color: #5F6062">Operational
KPIs in</FONT> <FONT STYLE="font-family: Verdana; color: #00B0F0"><B>power generation </B></FONT><FONT STYLE="font-family: Verdana; color: #5F6062">and
</FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>gas production</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">outperformed
during the winter peak demand:&nbsp;</FONT></P>
<P STYLE="text-align: center; font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 6pt"><IMG SRC="image_002.jpg" ALT="">&nbsp;</P>
<P STYLE="font: 9pt Verdana, Helvetica, Sans-Serif; margin: 0"><P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 0 0 9.6pt; text-align: justify"><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>Adjusted
EBITDA<SUP>[3]</SUP> was US$279 million in Q3 24, 14% higher than Q3 23, </B></FONT><FONT STYLE="font-family: Verdana; color: #5F6062">mainly
explained by increased deliveries under Plan Gas, power generation and our stakes at Transener and TGS, offset by petrochemicals and
operating costs.</FONT></P>

<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 0 0 9.6pt; text-align: justify"><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>Net
profit to the Company&#8217;s shareholders of US$146 million, a 4% decline from Q3 23</B></FONT><FONT STYLE="font-family: Verdana; color: #5F6062">,
due to lower gains from financial securities and lesser devaluation over the monetary active position in AR$, partially offset by lesser
financial expenses and income tax, and improvements in the operating margin.</FONT></P>

<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-left: 0pt; text-align: justify"><FONT STYLE="font-family: Verdana; color: #00AFEF"><B>Net
debt decreased US$150 million vs. June 2024, to US$539 million, </B></FONT><FONT STYLE="font-family: Verdana; color: #5F6062">the lowest amount and ratio in the last 8 years, explained by the operating cash flow of core businesses and improved collections.</FONT></P>


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<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 6pt 0; text-align: justify"><FONT STYLE="color: #5F6062"><BR STYLE="clear: both">
</FONT></P>
<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 6pt 0"><FONT STYLE="color: #5F6062"></FONT></P>

<P STYLE="font: 10pt/105% Verdana, Helvetica, Sans-Serif; margin: 6pt 0; color: #0081C5"><B>
</B></p>

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<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: justify; color: #00B0F0"></P>

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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-left: 0pt; text-align: justify"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: rgb(95,96,98)"><SUP>1
</SUP> The information is based on FS prepared according to IFRS in force in Argentina.<BR>
<SUP>2</SUP> Sales from the affiliates CTBSA, Transener and TGS are excluded, shown as &lsquo;Results for participation in joint businesses
and associates.</FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062">&rsquo;&nbsp;<BR>
</FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: rgb(95,96,98)"><SUP>3</SUP> Consolidated adjusted EBITDA represents
the flows before financial items, income tax, depreciations and amortizations, extraordinary and non-cash income and expense, equity
income, and includes affiliates&rsquo; EBITDA at our ownership. Further information on section 3.1.&nbsp;<BR STYLE="clear: both"></FONT></P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 16pt/105% Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 0.25in; margin-left: 0pt; color: #0081C6"><FONT STYLE="font-family: Verdana"><B>1.
Relevant Events</B></FONT></P>

<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt 35.3pt; text-align: justify; text-indent: -35.3pt; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>1.1
Tender offer for 2027 Notes and international placement of 2031 Notes</B></FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in; color: #5F6062"><FONT STYLE="font-family: Verdana">On
August 26, 2024, Pampa&#8217;s Board of Directors approved the repurchase at par value of the 2027 Notes for US$750 million of face value,
7.5% fixed rate and maturing in January 2027. The tender ended on September 5, 2024, participating approximately 53% of the total, equivalent
to US$397 million.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in; color: #5F6062"><FONT STYLE="font-family: Verdana">The
funds for the tender came from the successful placement of the 2031 Notes for US$410 million at a 7.95% annual fixed rate and 8.25% yield,
maturing on September 10, 2031. The issuance received offers exceeding US$1.6 billion from international institutional investors. This
transaction strengthens Pampa&#8217;s debt profile, paving the way for the upcoming investments in Vaca Muerta, especially in developing
the Rinc&oacute;n de Aranda shale oil block.</FONT></P>

<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt 35.3pt; text-align: justify; text-indent: -35.3pt; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>1.2
Power generation segment</B></FONT></P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; color: #20396D"><FONT STYLE="font-family: Verdana"><B><I>Partial
commissioning of PEPE 6</I></B></FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in; color: #5F6062"><FONT STYLE="font-family: Verdana">In
September 2024, 7 Vestas wind turbines were commissioned, adding 31.5 MW. On October 11, 2024, 4 more were commissioned for 18 MW. Hence,
25 of the 31 wind turbines are commissioned, with a total capacity of 112.5 MW.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in; color: #5F6062"><FONT STYLE="font-family: Verdana">All
the wind turbines and civil works were finished in October. PEPE 6 is estimated to be fully online and reach a total capacity of 140
MW by November 2024. With this investment of approximately US$250 million, Pampa has 427 MW of total installed wind power capacity, ranking
as one of the country&#8217;s leading renewable power producers.</FONT></P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt; text-align: justify; color: #20396D"><FONT STYLE="font-family: Verdana"><B><I>2024-2026
contingency plan</I></B></FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in; color: #5F6062"><FONT STYLE="font-family: Verdana">On
October 1, 2024, the SE established a plan to face the energy system&#8217;s critical situation during the seven months of peak demand
(December to March and June to August) (Res. No. 294/24). The plan includes a voluntary participation scheme that recognizes an additional
remuneration, effective from December 2024 to March 2026. Pampa is analyzing participation in the said scheme.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 9pt Verdana; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="text-align: right; width: 0.5in">&nbsp;<FONT STYLE="color: rgb(0,129,198)">&bull;</FONT></TD>
  <TD><P STYLE="margin-left: 10pt; font: 9pt/105% Times New Roman, Times, Serif; margin-right: 0pt; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>Fixed
      additional remuneration</B> of US$2,000/MW-month for the capacity, adjusted by a criticality factor based on the node where the unit
      is located and its availability during peak demand hours<SUP>[4]</SUP>.</FONT></P></TD></TR>
</TABLE>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 6pt 0; text-align: justify; text-indent: 0.5in; color: #5F6062"><FONT STYLE="font-family: Verdana"></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 9pt Verdana; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="text-align: right; width: 0.5in">&nbsp;<FONT STYLE="color: rgb(0,129,198)">&bull;</FONT></TD>
  <TD><P STYLE="margin-left: 10pt; font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin-right: 0pt; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>Variable
      additional remuneration</B> in US$/MWh for power generation during peak demand periods, based on the type of fuel used, generation
      technology, and a criticality factor:</FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 6pt 0 6pt 35.45pt; text-align: justify; color: #5F6062"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #20396D">
    <TD STYLE="width: 20%; padding-left: 4.5pt; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white"><B>Technology</B></FONT></TD>
    <TD STYLE="width: 16%; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white"><B>Natural gas</B></FONT></TD>
    <TD STYLE="width: 16%; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white"><B>Fuel Oil</B></FONT></TD>
    <TD STYLE="width: 16%; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white"><B>Gas Oil</B></FONT></TD>
    <TD STYLE="width: 16%; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white"><B>Biofuel</B></FONT></TD>
    <TD STYLE="width: 16%; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white"><B>Coal</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #DEDFDF 1pt solid; padding-left: 4.5pt; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">GT</FONT></TD>
    <TD STYLE="border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">6.4</FONT></TD>
    <TD STYLE="border-bottom: rgb(222,223,223) 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">-</FONT></TD>
    <TD STYLE="border-bottom: rgb(222,223,223) 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">8.6</FONT></TD>
    <TD STYLE="border-bottom: rgb(222,223,223) 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">8.7</FONT></TD>
    <TD STYLE="border-bottom: rgb(222,223,223) 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #DEDFDF 1pt solid; padding-left: 4.5pt; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">ST</FONT></TD>
    <TD STYLE="border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">3.4</FONT></TD>
    <TD STYLE="border-bottom: rgb(222,223,223) 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">6.0</FONT></TD>
    <TD STYLE="border-bottom: rgb(222,223,223) 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">-</FONT></TD>
    <TD STYLE="border-bottom: rgb(222,223,223) 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">8.7</FONT></TD>
    <TD STYLE="border-bottom: rgb(222,223,223) 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">10.4</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; padding-left: 4.5pt; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">Engines</FONT></TD>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">8.1</FONT></TD>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">15.4</FONT></TD>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">10.5</FONT></TD>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">8.7</FONT></TD>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">-</FONT></TD></TR>
  </TABLE>

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

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-left: 0pt; text-align: justify"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: rgb(95,96,98)"><SUP>4
</SUP> Ranges between nodes with high (1.25), medium (1.00), and low (0.75) criticality, and between summer and winter.<BR><BR STYLE="clear: both"></FONT></P>

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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt; text-align: justify; color: #20396D"><FONT STYLE="font-family: Verdana"><B><I>Updates
for the spot remuneration scheme</I></B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #20396D">
    <TD ROWSPAN="2" STYLE="padding-left: 4.5pt; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white"><B>Effective as of:</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: white 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white"><B>Spot
    energy remuneration</B></FONT></TD></TR>
  <TR STYLE="background-color: #20396D">
    <TD STYLE="text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white">Increase</FONT></TD>
    <TD STYLE="border-top: white 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white">Resolution</FONT></TD></TR>
  </TABLE>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 36%; border-bottom: #DEDFDF 1pt solid; padding-left: 4.5pt; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">September</FONT></TD>
    <TD STYLE="width: 32%; border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">5%</FONT></TD>
    <TD STYLE="width: 32%; border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">SE
    No. 233/24</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #DEDFDF 1pt solid; padding-left: 4.5pt; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">October</FONT></TD>
    <TD STYLE="border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">2.7%</FONT></TD>
    <TD STYLE="border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">SE
    No. 285/24</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; padding-left: 4.5pt; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">November</FONT></TD>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">6%</FONT></TD>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">SCEyM
    No. 20/24</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt; text-align: justify; color: #20396D"><FONT STYLE="font-family: Verdana"><B><I>License
expiration and transition period at Mendoza hydros</I></B></FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in; color: #5F6062"><FONT STYLE="font-family: Verdana">On
October 19, 2024, the HIDISA license concessions were scheduled to expire, one for the assets and water usage granted by the Province
of Mendoza and another for the power generation granted by the National Government. Pampa holds 61% of HIDISA&#8217;s share capital.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in; color: #5F6062"><FONT STYLE="font-family: Verdana">On
October 18, 2024, the Government of Mendoza set a 12-month transition period starting from the expiration date, appointing the Undersecretary
of Energy and Mining as observer (Decree No. 2,096/24). Additionally, the National Coordination Secretary of Energy and Mining set the
transition period until June 1, 2025, and appointed the SSEE as observer (Res. SCEyM No. 1/24).</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in; color: #5F6062"><FONT STYLE="font-family: Verdana">The transition period at HINISA expires on November 30,
2024. Pampa sent a letter to the SE seeking guidance on the next steps.&nbsp;</FONT></P>

<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt 35.3pt; text-align: justify; text-indent: -35.3pt; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>1.3
Increases in regulated tariffs</B></FONT></P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; color: #20396D"><FONT STYLE="font-family: Verdana"><B><I>Natural
gas</I></B></FONT></P>

<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in; color: #5F6062"><FONT STYLE="font-family: Verdana">On
August 29, 2024, the SE adjusted the PIST values for natural gas from September 2024 (Res. SE No. 232/24). Later, on September 27, 2024,
an additional reduction was applied, effective from October 2024 (Res. SE No. 284/24):</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #20396D">
    <TD ROWSPAN="2" STYLE="padding-left: 4.5pt; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white"><B>Demand segment</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: white 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white"><B>September
    2024</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: white 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white"><B>As
    of October 2024</B></FONT></TD></TR>
  <TR STYLE="background-color: #20396D">
    <TD STYLE="text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white">Subsidized price</FONT></TD>
    <TD STYLE="border-top: white 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white">Price
    without subsidy</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white">Subsidized price</FONT></TD>
    <TD STYLE="border-top: white 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white">Price
    without subsidy</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 35%; border-bottom: #DEDFDF 1pt solid; padding-left: 4.5pt; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">High-income
    residential (N1) and businesses and industries</FONT></TD>
    <TD STYLE="width: 16%; border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">n.a.</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: rgb(95,96,98) 2.25pt solid; width: 16%"><P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: center; color: #5F6062"><FONT STYLE="font-family: Verdana">US$3.4
    per</FONT></P>
    <P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 0; text-align: center; color: #5F6062"><FONT STYLE="font-family: Verdana">MBTU</FONT></P></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></TD>
    <TD STYLE="width: 16%; border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">n.a.</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: rgb(95,96,98) 2.25pt solid; width: 16%; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">US$3.1
    per MBTU</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #DEDFDF 1pt solid; padding-left: 4.5pt; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">Low-income
    residential/social tariff (N2)</FONT></TD>
    <TD STYLE="border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">US$1.2
    per MBTU</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">US$1.1
    per MBTU</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; padding-left: 4.5pt; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">Middle
    income residential (N3)</FONT></TD>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">US$1.5
    per MBTU</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #5F6062 2.25pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">US$1.4
    per MBTU</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>Note:
</B>Consumption exceeding the cap for N2 and N3, which varies according to consumption range, distributor, and zone, will be valued at
N1 price without any discount.</FONT></P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt; text-align: justify; color: #20396D"><FONT STYLE="font-family: Verdana"><B><I>Cost
variations</I></B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #20396D">
    <TD ROWSPAN="2" STYLE="padding-left: 4.5pt; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white"><B>Effective as of:</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: white 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white"><B>Transener</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: white 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white"><B>TGS</B></FONT></TD></TR>
  <TR STYLE="background-color: #20396D">
    <TD STYLE="text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white">Increase</FONT></TD>
    <TD STYLE="border-top: white 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white">Resolution</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white">Increase</FONT></TD>
    <TD STYLE="border-top: white 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; color: white">Resolution</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 20%; border-bottom: #DEDFDF 1pt solid; padding-left: 4.5pt; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">September</FONT></TD>
    <TD STYLE="width: 13%; border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">6%</FONT></TD>
    <TD STYLE="width: 24%; border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">ENRE
    N&deg; 580 y 581/24</FONT></TD>
    <TD STYLE="vertical-align: top; width: 3%; border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></TD>
    <TD STYLE="width: 13%; border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">1%</FONT></TD>
    <TD STYLE="width: 27%; border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">ENARGAS
    N&deg; 491/24</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #DEDFDF 1pt solid; padding-left: 4.5pt; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">October</FONT></TD>
    <TD STYLE="border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">2.7%</FONT></TD>
    <TD STYLE="border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">ENRE
    N&deg; 692 y 696/24</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">2.7%</FONT></TD>
    <TD STYLE="border-bottom: #DEDFDF 1pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">ENARGAS
    N&deg; 601/24</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; padding-left: 4.5pt; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">November</FONT></TD>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">6%</FONT></TD>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">ENRE
    N&deg; 901 y 902/24</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #5F6062 2.25pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">3.5%</FONT></TD>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; text-align: center; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 9pt; color: #5F6062; line-height: 105%">ENARGAS
    N&deg; 735/24</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></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: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 12pt 0 12pt 35.3pt; text-align: justify; text-indent: -35.3pt; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>1.4
Acquisition of OCP Ecuador shares and end of concession </B></FONT></P>

<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in; color: #5F6062"><FONT STYLE="font-family: Verdana">On
August 30, 2024, Pampa acquired the remaining 36% of OCP Ecuador, where it already held 64% of the capital, for US$23 million. With this
transaction, Pampa became the sole owner of OCP Ecuador and began consolidating the company in its FS.</FONT></P>

<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in; color: #5F6062"><FONT STYLE="font-family: Verdana">OCP
Ecuador operates the country&#8217;s main private pipeline, extending 485 kilometers and transporting an average of 150 thousand barrels
of Ecuadorian crude daily, approximately 30% of national production, along with 10 thousand barrels per day of Colombian oil.</FONT></P>

<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in; color: #5F6062"><FONT STYLE="font-family: Verdana">The OCP concession has been extended for three months until
November 30, 2024, when the shares must be transferred to the Ecuadorian State. OCP Ecuador is working with the authorities to carry out
the transition per the provisions of the concession contract.&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt/105% Times New Roman, Times, Serif; margin-top: 24pt; margin-bottom: 12pt; color: #5F6062"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 50%"><FONT STYLE="font-family: Verdana"><B>1.5 Sale of stake in Gobernador Ayala</B></FONT></TD><TD STYLE="text-align: justify; width: 50%"></TD></TR></TABLE>

<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in; color: #5F6062"><FONT STYLE="font-family: Verdana">On October 21, 2024, Pampa transferred its 22.51% stake in the hydrocarbon exploitation license and joint operatorship at the Gobernador Ayala block to Pluspetrol for $23 million</FONT><FONT STYLE="font-family: Verdana">.&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt/105% Times New Roman, Times, Serif; margin-top: 24pt; margin-bottom: 12pt; color: #5F6062"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 50%"><FONT STYLE="font-family: Verdana"><B>1.6 TGS</B></FONT></TD><TD STYLE="text-align: justify; width: 50%"></TD></TR></TABLE>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; color: #20396D"><FONT STYLE="font-family: Verdana"><B><I>Public
hearing for the tenure extension of the gas transportation license</I></B></FONT></P>

<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in; color: #5F6062"><FONT STYLE="font-family: Verdana">On
October 21, 2024, ENARGAS held a public hearing to discuss the tenure extension of TGS&#8217;s license for natural gas transportation,
expiring in December 2027. The original contract allowed for a 10-year extension, but the <I>Ley Bases</I>, passed in July 2024, enables
an extension of up to 20 years until December 2047.</FONT></P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt; text-align: justify; color: #20396D"><FONT STYLE="font-family: Verdana"><B><I>Conditioning
capacity expansion at Tratay&eacute;n</I></B></FONT></P>

<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in; color: #5F6062"><FONT STYLE="font-family: Verdana">In
October 2024, the construction and commissioning of the first natural gas conditioning module at TGS&#8217;s Tratay&eacute;n Plant was
completed, increasing its capacity by 6.6 million m<SUP>3</SUP> per day. The second module, adding another 6.6 million m<SUP>3</SUP>,
is expected to be online by the end of 2024. This investment of approximately US$350 million will enable the plant to reach a total conditioning
capacity of 28 million m<SUP>3</SUP> per day.<BR STYLE="clear: both"></FONT></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: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 16pt/105% Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 0.25in; margin-left: 0pt; color: #0081C6"><FONT STYLE="font-family: Verdana"><B>2.
Financial highlights</B></FONT></P>

<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>2.1
Consolidated balance sheet</B></FONT></P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 0; color: white"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; border-top: white 0.5pt solid; border-bottom: white 0.5pt solid; border-left: white 0.5pt solid; text-align: left">Figures in million</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: white 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; border-top: white 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">As of 09.30.2024</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: white 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; border-top: white 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">As of 12.31.2023</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: white 0.5pt solid; text-align: right">AR$</TD>
    <TD STYLE="color: white; border-bottom: white 0.5pt solid; text-align: right">US$ FX 970.5</TD>
    <TD STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: white 0.5pt solid; text-align: right">AR$</TD>
    <TD STYLE="color: white; border-bottom: white 0.5pt solid; text-align: right">US$ FX 808.45</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left; width: 50%">ASSETS</TD>
    <TD STYLE="color: #4F5150; text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: left; width: 12%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: left; width: 12%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: left; width: 12%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: left; width: 12%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Property, plant and equipment</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">2,499,436</TD>
    <TD STYLE="color: #4F5150; text-align: right">2,575</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">2,056,974</TD>
    <TD STYLE="color: #4F5150; text-align: right">2,544</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Intangible assets</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">94,114</TD>
    <TD STYLE="color: #4F5150; text-align: right">97</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">77,898</TD>
    <TD STYLE="color: #4F5150; text-align: right">96</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Right-of-use assets</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">12,153</TD>
    <TD STYLE="color: #4F5150; text-align: right">13</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">17,259</TD>
    <TD STYLE="color: #4F5150; text-align: right">21</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Deferred tax asset</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">101,466</TD>
    <TD STYLE="color: #4F5150; text-align: right">105</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">2</TD>
    <TD STYLE="color: #4F5150; text-align: right">0</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Investments in joint ventures and associates</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">918,879</TD>
    <TD STYLE="color: #4F5150; text-align: right">947</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">542,978</TD>
    <TD STYLE="color: #4F5150; text-align: right">672</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">26,451</TD>
    <TD STYLE="color: #4F5150; text-align: right">27</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">28,040</TD>
    <TD STYLE="color: #4F5150; text-align: right">35</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Other assets</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">1,722</TD>
    <TD STYLE="color: #4F5150; text-align: right">2</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">349</TD>
    <TD STYLE="color: #4F5150; text-align: right">0</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Trade and other receivables</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">43,103</TD>
    <TD STYLE="color: #4F5150; text-align: right">44</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">14,524</TD>
    <TD STYLE="color: #4F5150; text-align: right">18</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: left">Total non-current assets</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">3,697,324</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">3,810</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">2,738,024</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">3,387</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Inventories</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">231,400</TD>
    <TD STYLE="color: #4F5150; text-align: right">238</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">166,023</TD>
    <TD STYLE="color: #4F5150; text-align: right">205</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Financial assets at amortized cost</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">77,881</TD>
    <TD STYLE="color: #4F5150; text-align: right">80</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">84,749</TD>
    <TD STYLE="color: #4F5150; text-align: right">105</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Financial assets at fair value through profit and loss</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">750,900</TD>
    <TD STYLE="color: #4F5150; text-align: right">774</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">451,883</TD>
    <TD STYLE="color: #4F5150; text-align: right">559</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Derivative financial instruments</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">108</TD>
    <TD STYLE="color: #4F5150; text-align: right">0</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">250</TD>
    <TD STYLE="color: #4F5150; text-align: right">0</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Trade and other receivables</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">598,582</TD>
    <TD STYLE="color: #4F5150; text-align: right">617</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">238,294</TD>
    <TD STYLE="color: #4F5150; text-align: right">295</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Cash and cash equivalents</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">322,011</TD>
    <TD STYLE="color: #4F5150; text-align: right">332</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">137,973</TD>
    <TD STYLE="color: #4F5150; text-align: right">171</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: left">Total current assets</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">1,980,882</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">2,041</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">1,079,172</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">1,335</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: left">Total assets</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">5,691,563</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">5,865</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">3,817,196</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">4,722</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">EQUITY</TD>
    <TD STYLE="color: #4F5150; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: left">Equity attributable to owners of the company</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">3,092,655</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">3,187</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">1,943,736</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">2,404</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: left">Total equity</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">3,100,822</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">3,195</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">1,950,696</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">2,413</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">LIABILITIES</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Provisions</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">183,254</TD>
    <TD STYLE="color: #4F5150; text-align: right">189</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">119,863</TD>
    <TD STYLE="color: #4F5150; text-align: right">148</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Income tax and presumed minimum income tax liabilities</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">71,282</TD>
    <TD STYLE="color: #4F5150; text-align: right">73</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">44,614</TD>
    <TD STYLE="color: #4F5150; text-align: right">55</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Deferred tax liabilities</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">48,121</TD>
    <TD STYLE="color: #4F5150; text-align: right">50</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">240,686</TD>
    <TD STYLE="color: #4F5150; text-align: right">298</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Defined benefit plans</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">40,976</TD>
    <TD STYLE="color: #4F5150; text-align: right">42</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">13,172</TD>
    <TD STYLE="color: #4F5150; text-align: right">16</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Borrowings</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">1,368,963</TD>
    <TD STYLE="color: #4F5150; text-align: right">1,411</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">989,182</TD>
    <TD STYLE="color: #4F5150; text-align: right">1,224</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Trade and other payables</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">49,286</TD>
    <TD STYLE="color: #4F5150; text-align: right">51</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">37,301</TD>
    <TD STYLE="color: #4F5150; text-align: right">46</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: left">Total non-current liabilities</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">1,761,882</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">1,815</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">1,444,818</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">1,787</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Provisions</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">8,720</TD>
    <TD STYLE="color: #4F5150; text-align: right">9</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">4,649</TD>
    <TD STYLE="color: #4F5150; text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Income tax liabilities</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">199,094</TD>
    <TD STYLE="color: #4F5150; text-align: right">205</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">14,026</TD>
    <TD STYLE="color: #4F5150; text-align: right">17</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Taxes payables</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">47,984</TD>
    <TD STYLE="color: #4F5150; text-align: right">49</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">11,427</TD>
    <TD STYLE="color: #4F5150; text-align: right">14</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Defined benefit plans</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">12,148</TD>
    <TD STYLE="color: #4F5150; text-align: right">13</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">2,695</TD>
    <TD STYLE="color: #4F5150; text-align: right">3</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Salaries and social security payable&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">29,187</TD>
    <TD STYLE="color: #4F5150; text-align: right">30</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">15,537</TD>
    <TD STYLE="color: #4F5150; text-align: right">19</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Derivative financial instruments</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">2</TD>
    <TD STYLE="color: #4F5150; text-align: right">0</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">191</TD>
    <TD STYLE="color: #4F5150; text-align: right">0</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Borrowings</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">305,312</TD>
    <TD STYLE="color: #4F5150; text-align: right">315</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">181,357</TD>
    <TD STYLE="color: #4F5150; text-align: right">224</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Trade and other payables</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">225,170</TD>
    <TD STYLE="color: #4F5150; text-align: right">232</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">191,800</TD>
    <TD STYLE="color: #4F5150; text-align: right">237</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: left">Total current liabilities</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">827,617</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">853</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">421,682</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">522</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: left">Total liabilities</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">2,590,741</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">2,669</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">1,866,500</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">2,309</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: left">Total liabilities and equity</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">5,691,563</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">5,865</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">3,817,196</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">4,722</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 0; color: white"><FONT STYLE="font-family: Verdana"></FONT></P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 0; color: white"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></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: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>2.2
Consolidated income statement</B></FONT></P>

<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 4pt 105.1pt 4pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>&nbsp;</B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; border: #1A458C 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; border-top: #1A458C 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; border-right: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Nine-month period</TD>
    <TD STYLE="color: white; border-top: #1A458C 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; border-right: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Third quarter</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; border-right: #1A458C 0.5pt solid; border-bottom: #1A458C 0.5pt solid; border-left: #1A458C 0.5pt solid; text-align: left; border-top-color: #1A458C; border-top-width: 0.5pt">Figures in million</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; border-top: white 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">2024</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; border-top: white 0.5pt solid; border-right: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">2023</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; border-top: white 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">2024</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; border-top: white 0.5pt solid; border-right: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">2023</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; border-right: #1A458C 0.5pt solid; border-left: #1A458C 0.5pt solid; text-align: left; border-top-color: #1A458C; border-top-width: 0.5pt; width: 39%">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt; width: 7%">AR$</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; width: 7%">US$</TD>
    <TD STYLE="color: white; font-weight: bold; border-bottom: #1A458C 0.5pt solid; text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; width: 7%">AR$</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; width: 7%">US$</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt; width: 7%">AR$</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt; width: 7%">US$</TD>
    <TD STYLE="color: white; font-weight: bold; border-bottom: #1A458C 0.5pt solid; text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt; width: 7%">AR$</TD>
    <TD STYLE="color: white; border-right: #1A458C 0.5pt solid; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt; width: 7%">US$</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">Sales revenue</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">1,294,494</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">1,441</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">346,957</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">1,370</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">510,706</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">540</TD>
    <TD STYLE="color: red; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">152,701</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">475</TD></TR>
  <TR>
    <TD STYLE="padding-left: 18px; color: #4F5150; font-style: italic; vertical-align: middle; text-align: left">Domestic sales</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">1,086,342</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">1,207</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">285,892</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">1,117</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">437,156</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">465</TD>
    <TD STYLE="color: red; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">131,583</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">409</TD></TR>
  <TR>
    <TD STYLE="padding-left: 18px; color: #4F5150; font-style: italic; vertical-align: middle; text-align: left">Foreign market sales</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">208,152</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">234</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">61,065</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">253</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">73,550</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">75</TD>
    <TD STYLE="color: red; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">21,118</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">66</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">Cost of sales</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(831,719)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(930)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(209,953)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(850)</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(344,291)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(365)</TD>
    <TD STYLE="color: red; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(92,014)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(295)</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: red; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Gross profit</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">462,775</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">511</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">137,004</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">520</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">166,415</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">175</TD>
    <TD STYLE="color: red; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">60,687</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">180</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: red; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">Selling expenses</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(51,380)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(57)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(13,333)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(51)</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(19,798)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(21)</TD>
    <TD STYLE="color: red; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(5,610)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(17)</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">Administrative expenses</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(124,840)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(139)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(34,629)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(133)</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(53,166)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(56)</TD>
    <TD STYLE="color: red; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(14,427)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(44)</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">Exploration expenses</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(256)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(1,772)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(7)</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(89)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: red; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(22)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">Other operating income</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">102,716</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">116</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">31,627</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">115</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">31,935</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">33</TD>
    <TD STYLE="color: red; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">17,338</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">54</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">Other operating expenses</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(63,966)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(72)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(18,079)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(68)</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(20,912)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(20)</TD>
    <TD STYLE="color: red; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(10,704)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(33)</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">Impairment of financial assets</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(48,912)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(56)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(415)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(4)</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">680</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: red; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(116)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(1)</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">Impairment on PPE, int. assets &amp; inventories</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(18,578)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(19)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(324)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(18,436)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(19)</TD>
    <TD STYLE="color: red; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">Results for part. in joint businesses &amp; associates</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">94,331</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">101</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">14,044</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">42</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">62,437</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">62</TD>
    <TD STYLE="color: red; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">5,474</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">8</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">Income from the sale of associates</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">5,765</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">7</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">486</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: red; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">486</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: red; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Operating income</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">357,655</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">392</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">114,609</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">414</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">149,066</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">154</TD>
    <TD STYLE="color: red; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">53,105</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">148</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: red; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">Financial income</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">4,095</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">4</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">1,090</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">4</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">2,086</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="color: red; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">662</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">2</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">Financial costs</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(120,932)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(137)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(71,096)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(283)</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(39,244)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(43)</TD>
    <TD STYLE="color: red; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(30,018)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(95)</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">Other financial results</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">99,806</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">114</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">95,794</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">392</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">36,945</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">40</TD>
    <TD STYLE="color: red; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">40,333</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">138</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; vertical-align: middle">Financial results, net</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">(17,031)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">(19)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">25,788</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">113</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">(213)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="color: red; font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">10,977</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">45</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: red; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Profit before tax</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">340,624</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">373</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">140,397</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">527</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">148,853</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">153</TD>
    <TD STYLE="color: red; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">64,082</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">193</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: red; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle">Income tax</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">111,715</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">140</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(20,437)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(69)</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(9,451)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(7)</TD>
    <TD STYLE="color: red; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(13,350)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(40)</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: red; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left">Net income for the period</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">452,339</TD>
    <TD STYLE="font-weight: bold; text-align: right">513</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">119,960</TD>
    <TD STYLE="font-weight: bold; text-align: right">458</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">139,402</TD>
    <TD STYLE="font-weight: bold; text-align: right">146</TD>
    <TD STYLE="color: red; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">50,732</TD>
    <TD STYLE="font-weight: bold; text-align: right">153</TD></TR>
  <TR>
    <TD STYLE="padding-left: 18px; font-weight: bold; font-style: italic; vertical-align: middle; text-align: left">Attributable to the owners of the Company</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">452,630</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">513</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">119,708</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">457</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">139,470</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">146</TD>
    <TD STYLE="color: red; font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">50,611</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">152</TD></TR>
  <TR>
    <TD STYLE="padding-left: 18px; font-weight: bold; font-style: italic; vertical-align: middle; text-align: left">Attributable to the non-controlling interest</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">(291)</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">252</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">(68)</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: red; font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">121</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&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: bottom">&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>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: red; vertical-align: bottom">&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">Net income per share to shareholders</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">332.8</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">0.4</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">87.5</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">0.3</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">102.6</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">0.1</TD>
    <TD STYLE="color: red; font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">37.2</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">0.1</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: left">Net income per ADR to shareholders</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">8,320.4</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">9.4</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">2,187.6</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">8.4</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">2,563.8</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">2.7</TD>
    <TD STYLE="color: red; font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">930.4</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">2.8</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle">&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: bottom">&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>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: red; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: left">Average outstanding common shares<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-weight: 700"><I><SUP>1</SUP></I></FONT></TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">1,360</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">1,360</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">1,368</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">1,368</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">1,360</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">1,360</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">1,360</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">1,360.0</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; border-bottom: Black 1pt solid; text-align: left">Outstanding shares by the end of period<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-weight: 700"><I><SUP>1</SUP></I></FONT></TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right">1,360</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right">1,360</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right">1,360</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right">1,360</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right">1,360</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right">1,360</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right">1,360</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right">1,360.0</TD></TR>
  </TABLE>
<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 4pt 105.1pt 4pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>Note:
1 </B>It considers the Employee stock-based compensation plan shares, which amounted to 3.9 million common shares as of September 30,
2023 and 2024.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></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">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>2.3
Cash and financial borrowings</B></FONT></P>

<P STYLE="font: 1pt/105% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="color: white; vertical-align: middle; text-align: left; background-color: #1A458C">As of September 30, 2024,<BR>
in US$ million</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: #1A458C">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-bottom: white 0.5pt solid; text-align: center; background-color: #1A458C">Cash<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 700; color: white"><SUP>1</SUP></FONT></TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: #1A458C">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-bottom: white 0.5pt solid; text-align: center; background-color: #1A458C">Financial debt</TD>
    <TD STYLE="color: white; vertical-align: bottom; background-color: #1A458C">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-bottom: white 0.5pt solid; text-align: center; background-color: #1A458C">Net debt</TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="color: white; vertical-align: middle; text-align: center; background-color: #1A458C">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="color: white; vertical-align: middle; text-align: center; background-color: #1A458C">Consolidated <BR>
in FS</TD>
    <TD ROWSPAN="2" STYLE="color: white; vertical-align: middle; text-align: center; background-color: #1A458C">Ownership adjusted</TD>
    <TD ROWSPAN="2" STYLE="color: white; vertical-align: middle; text-align: center; background-color: #1A458C">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="color: white; vertical-align: middle; text-align: center; border-top-color: white; border-top-width: 0.5pt; background-color: #1A458C">Consolidated <BR>
in FS</TD>
    <TD ROWSPAN="2" STYLE="color: white; vertical-align: middle; text-align: center; background-color: #1A458C">Ownership adjusted</TD>
    <TD ROWSPAN="2" STYLE="color: white; vertical-align: middle; text-align: center; background-color: #1A458C">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; text-align: center; border-top-color: white; border-top-width: 0.5pt; background-color: #1A458C">Consolidated <BR>
in FS</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; text-align: center; background-color: #1A458C">Ownership adjusted</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 0%">&nbsp;</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: left; width: 30%">Power generation</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center; width: 11%">963</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center; width: 11%">958</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center; width: 11%">544</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center; width: 11%">544</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #404040; font-weight: bold; vertical-align: middle; text-align: center; width: 11%">(419)</TD>
    <TD STYLE="color: #404040; font-weight: bold; vertical-align: middle; text-align: center; width: 11%">(414)</TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: left">Petrochemicals</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center">-</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center">-</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center">-</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center">-</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #404040; font-weight: bold; vertical-align: middle; text-align: center">-</TD>
    <TD STYLE="color: #404040; font-weight: bold; vertical-align: middle; text-align: center">-</TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: left">Holding and others</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center">82</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center">82</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center">11</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center">11</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #404040; font-weight: bold; vertical-align: middle; text-align: center">(71)</TD>
    <TD STYLE="color: #404040; font-weight: bold; vertical-align: middle; text-align: center">(71)</TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: left">Oil and gas</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center">141</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center">141</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center">1,171</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center">1,171</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #404040; font-weight: bold; vertical-align: middle; text-align: center">1,029</TD>
    <TD STYLE="color: #404040; font-weight: bold; vertical-align: middle; text-align: center">1,029</TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: left">Total under IFRS/Restricted Group</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: black 0.5pt solid; font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">1,186</TD>
    <TD STYLE="border-top: black 0.5pt solid; font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">1,181</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: black 0.5pt solid; font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">1,725</TD>
    <TD STYLE="border-top: black 0.5pt solid; font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">1,725</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: black 0.5pt solid; font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">539</TD>
    <TD STYLE="border-top: black 0.5pt solid; font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">544</TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: left">Affiliates at O/S<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #404040"><SUP>2</SUP></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center">213</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center">213</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center">273</TD>
    <TD STYLE="color: #404040; vertical-align: middle; text-align: center">273</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #404040; font-weight: bold; vertical-align: middle; text-align: center">60</TD>
    <TD STYLE="color: #404040; font-weight: bold; vertical-align: middle; text-align: center">60</TD></TR>
  <TR>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: black 0.5pt solid; border-bottom: black 0.5pt solid; text-align: left">Total with affiliates</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: black 0.5pt solid; font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">1,399</TD>
    <TD STYLE="border-top: black 0.5pt solid; font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">1,394</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: black 0.5pt solid; font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">1,998</TD>
    <TD STYLE="border-top: black 0.5pt solid; font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">1,998</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: black 0.5pt solid; font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">599</TD>
    <TD STYLE="border-top: black 0.5pt solid; font-weight: bold; vertical-align: middle; border-bottom: black 0.5pt solid; text-align: center">604</TD></TR>
  </TABLE>
<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 4pt 105.1pt 4pt 20pt; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>Note</B>:
Financial debt includes accrued interest. <B>1</B> It includes cash and cash equivalents, financial assets at fair value with changing
results, and investments at amortized cost. <B>2</B> Under IFRS, the affiliates CTBSA, Transener and TGS are not consolidated in Pampa.</FONT></P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt; text-align: justify; color: #20396D"><FONT STYLE="font-family: Verdana"><B><I>Debt
transactions</I></B></FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #5F6062">As
of September 30, 2024, Pampa&#8217;s financial debt under IFRS amounted to US$1,725 million, 19% higher than the end of 2023, mainly
due to the </FONT><FONT STYLE="font-family: Verdana; color: #00B0F0">international issuance of the 2031 Notes, partially offset by the
repurchase of the 2027 Notes</FONT><FONT STYLE="font-family: Verdana; color: #5F6062">. However, net debt decreased to US$539 million,
the lowest amount in the last 8 years, explained by the contributions of operating cash flow from power and E&amp;P businesses and improved
collections from CAMMESA and ENARSA.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana">The
table below shows the gross debt principal breakdown:</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; font-weight: bold; width: 9%">Currency</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center; width: 15%">Type of <BR>
issuance</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center; width: 28%">Amount <BR>
in million US$</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center; width: 12%">Legislation</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center; width: 18%">% over <BR>
total gross debt</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center; width: 18%">Avg coupon</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD ROWSPAN="3" STYLE="color: #5F6062">US$</TD>
    <TD STYLE="color: #5F6062; border-bottom: #F2F2F2 0.5pt solid; text-align: center">US$<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>1</SUP></FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 0.5pt solid; color: #5F6062; text-align: center">1,255</TD>
    <TD STYLE="color: #5F6062; border-bottom: #F2F2F2 0.5pt solid; text-align: center">Foreign</TD>
    <TD STYLE="color: #5F6062; border-bottom: #F2F2F2 0.5pt solid; text-align: center">73%</TD>
    <TD STYLE="color: #5F6062; border-bottom: #F2F2F2 0.5pt solid; text-align: center">8.3%, primarily fixed</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; border-bottom: #F2F2F2 0.5pt solid; text-align: center; border-top-color: #F2F2F2; border-top-width: 0.5pt">US$ Cable</TD>
    <TD STYLE="border-bottom: #F2F2F2 0.5pt solid; color: #5F6062; text-align: center; border-top-color: #F2F2F2; border-top-width: 0.5pt">215</TD>
    <TD STYLE="color: #5F6062; border-bottom: #F2F2F2 0.5pt solid; text-align: center; border-top-color: #F2F2F2; border-top-width: 0.5pt">Argentine</TD>
    <TD STYLE="color: #5F6062; border-bottom: #F2F2F2 0.5pt solid; text-align: center; border-top-color: #F2F2F2; border-top-width: 0.5pt">13%</TD>
    <TD STYLE="color: #5F6062; border-bottom: #F2F2F2 0.5pt solid; text-align: center; border-top-color: #F2F2F2; border-top-width: 0.5pt">4.2%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: center">US$ MEP</TD>
    <TD STYLE="color: #5F6062; text-align: center">128</TD>
    <TD STYLE="color: #5F6062; text-align: center; border-top-color: #F2F2F2; border-top-width: 0.5pt">Argentine</TD>
    <TD STYLE="color: #5F6062; text-align: center">7%</TD>
    <TD STYLE="color: #5F6062; text-align: center">5%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD ROWSPAN="2" STYLE="color: #5F6062; border-bottom: #5F6062 1.5pt solid">AR$</TD>
    <TD STYLE="color: #5F6062; border-bottom: #F2F2F2 0.5pt solid; text-align: center">AR$</TD>
    <TD STYLE="border-bottom: #F2F2F2 0.5pt solid; color: #5F6062; text-align: center">23</TD>
    <TD STYLE="color: #5F6062; border-bottom: #F2F2F2 0.5pt solid; text-align: center">Argentine</TD>
    <TD STYLE="color: #5F6062; border-bottom: #F2F2F2 0.5pt solid; text-align: center">1%</TD>
    <TD STYLE="color: #5F6062; border-bottom: #F2F2F2 0.5pt solid; text-align: center">37.4%, variable</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1.5pt solid; text-align: center">US$-link</TD>
    <TD STYLE="border-bottom: #5F6062 1.5pt solid; color: #5F6062; text-align: center">98</TD>
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1.5pt solid; text-align: center">Argentine</TD>
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1.5pt solid; text-align: center">6%</TD>
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1.5pt solid; text-align: center">0%</TD></TR>
  </TABLE>


<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt; color: #5F6062"><FONT STYLE="font-family: Verdana">With
the issuance of the 2031 Notes, the financial debt increased its average life to 3.4 years. The chart below shows the principal maturity
profile, net of repurchases, in US$ million by the end of Q3 24:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: middle; width: 54%; padding-right: 5.75pt; padding-left: 5.75pt; text-align: right; line-height: 105%"><FONT STYLE="font-family: Verdana">&nbsp;<IMG SRC="image_006.jpg" ALT=""></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 46%; padding-right: 5.75pt; padding-bottom: 6pt; padding-left: 5.75pt; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%"><B>Note:
    </B>The chart only considers Pampa consolidated under IFRS. It does not include affiliates TGS, Transener, and CTBSA.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></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">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->



<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt; color: #5F6062"><FONT STYLE="font-family: Verdana">During
Q3 24, Pampa issued the Series 21 CB for US$410 million, at an interest rate of 7.95%, maturing in September 2031, and repurchased in
cash at par value its Series 1 CB for US$397 million, remaining an outstanding amount of US$353 million of face value. After the quarter&#8217;s
closing, Pampa issued the Series 22 CB for US$84 million at an interest rate of 5.75%, maturing in October 2028, and canceled US$47 million
from the Series 20 CB, remaining an outstanding amount of US$60 million.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt; color: #5F6062"><FONT STYLE="font-family: Verdana">Regarding
our affiliates, in Q3 24, TGS issued its Series 3 CB for US$490 million, at an interest rate of 8.5%, maturing in July 2031, and redeemed
the total outstanding of its 2025 Notes for US$470 million. In addition, TGS took short-term borrowings for US$5 million and paid import
financing equivalent to US$2 million. CTEB paid short-term net bank borrowings for AR$20,496 million and took borrowings for US$10 million.
After the quarter&#8217;s closing, CTEB took borrowings for US$57 million and canceled its Series 4 CB for US$96 million.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt; color: #5F6062"><FONT STYLE="font-family: Verdana">As
of this report&#8217;s issuance date, we comply with the covenants established in our debt agreements.</FONT></P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt; text-align: justify; color: #20396D"><FONT STYLE="font-family: Verdana"><B><I>Summary
of debt securities</I></B></FONT></P>

<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 4pt 19.3pt 0 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; width: 18%">Company<BR>
<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white">In million</FONT></TD>
    <TD STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; text-align: center; width: 31%">Security</TD>
    <TD STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; text-align: center; width: 11%">Maturity</TD>
    <TD STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; text-align: center; width: 9%">Amount issued</TD>
    <TD STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; text-align: center; width: 11%">Amount <BR>
net of repurchases</TD>
    <TD STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; text-align: center; width: 20%">Coupon</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #9E9FA0">
    <TD STYLE="color: white; font-weight: bold">In US$-Foreign Law</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD ROWSPAN="4" STYLE="color: #5F6062; text-align: left">Pampa</TD>
    <TD STYLE="color: #5F6062; text-align: center">CB Series 9 at par &amp; fixed rate</TD>
    <TD STYLE="color: #5F6062; text-align: center">2026</TD>
    <TD STYLE="color: #5F6062; text-align: center">293</TD>
    <TD STYLE="color: #5F6062; text-align: center">179</TD>
    <TD STYLE="color: #5F6062; text-align: center">9.5%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: center">CB Series 1 at discount &amp; fixed rate</TD>
    <TD STYLE="color: #5F6062; text-align: center">2027</TD>
    <TD STYLE="color: #5F6062; text-align: center">750</TD>
    <TD STYLE="color: #5F6062; text-align: center">353</TD>
    <TD STYLE="color: #5F6062; text-align: center">7.5%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: center">CB Series 3 at discount &amp; fixed rate</TD>
    <TD STYLE="color: #5F6062; text-align: center">2029</TD>
    <TD STYLE="color: #5F6062; text-align: center">300</TD>
    <TD STYLE="color: #5F6062; text-align: center">293</TD>
    <TD STYLE="color: #5F6062; text-align: center">9.125%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: center">CB Series 21 at discount &amp; fixed rate</TD>
    <TD STYLE="color: #5F6062; text-align: center">2031</TD>
    <TD STYLE="color: #5F6062; text-align: center">410</TD>
    <TD STYLE="color: #5F6062; text-align: center">410</TD>
    <TD STYLE="color: #5F6062; text-align: center">7.950%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: left">TGS<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>1</SUP></FONT></TD>
    <TD STYLE="color: #5F6062; text-align: center">CB at discount at fixed rate</TD>
    <TD STYLE="color: #5F6062; text-align: center">2031</TD>
    <TD STYLE="color: #5F6062; text-align: center">490</TD>
    <TD STYLE="color: #5F6062; text-align: center">490</TD>
    <TD STYLE="color: #5F6062; text-align: center">8.50%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #9E9FA0">
    <TD STYLE="color: white; font-weight: bold">In US$-Argentine Law</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: left">Pampa</TD>
    <TD STYLE="color: #5F6062; text-align: center">CB Series 20</TD>
    <TD STYLE="color: #5F6062; text-align: center">2026</TD>
    <TD STYLE="color: #5F6062; text-align: center">108</TD>
    <TD STYLE="color: #5F6062; text-align: center">60</TD>
    <TD STYLE="color: #5F6062; text-align: center">6.00%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #9E9FA0">
    <TD STYLE="color: white; font-weight: bold">In US$-link</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: left">Pampa</TD>
    <TD STYLE="color: #5F6062; text-align: center">CB Series 13</TD>
    <TD STYLE="color: #5F6062; text-align: center">2027</TD>
    <TD STYLE="color: #5F6062; text-align: center">98</TD>
    <TD STYLE="color: #5F6062; text-align: center">98</TD>
    <TD STYLE="color: #5F6062; text-align: center">0%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD ROWSPAN="2" STYLE="color: #5F6062; text-align: left">CTEB<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 7.65pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>1</SUP></FONT></TD>
    <TD STYLE="color: #5F6062; text-align: center">CB Series 6</TD>
    <TD STYLE="color: #5F6062; text-align: center">2025</TD>
    <TD STYLE="color: #5F6062; text-align: center">84</TD>
    <TD STYLE="color: #5F6062; text-align: center">84</TD>
    <TD STYLE="color: #5F6062; text-align: center">0%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: center">CB Series 9</TD>
    <TD STYLE="color: #5F6062; text-align: center">2026</TD>
    <TD STYLE="color: #5F6062; text-align: center">50</TD>
    <TD STYLE="color: #5F6062; text-align: center">50</TD>
    <TD STYLE="color: #5F6062; text-align: center">0%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #9E9FA0">
    <TD STYLE="color: white; font-weight: bold">In US$-MEP</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD ROWSPAN="3" STYLE="color: #5F6062; text-align: left">Pampa</TD>
    <TD STYLE="color: #5F6062; text-align: center">CB Series 16</TD>
    <TD STYLE="color: #5F6062; text-align: center">2025</TD>
    <TD STYLE="color: #5F6062; text-align: center">56</TD>
    <TD STYLE="color: #5F6062; text-align: center">56</TD>
    <TD STYLE="color: #5F6062; text-align: center">4.99%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: center">CB Series 18</TD>
    <TD STYLE="color: #5F6062; text-align: center">2025</TD>
    <TD STYLE="color: #5F6062; text-align: center">72</TD>
    <TD STYLE="color: #5F6062; text-align: center">72</TD>
    <TD STYLE="color: #5F6062; text-align: center">5.00%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: center">CB Series 22</TD>
    <TD STYLE="color: #5F6062; text-align: center">2028</TD>
    <TD STYLE="color: #5F6062; text-align: center">84</TD>
    <TD STYLE="color: #5F6062; text-align: center">84</TD>
    <TD STYLE="color: #5F6062; text-align: center">5.75%</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #9E9FA0">
    <TD STYLE="color: white; font-weight: bold">In AR$</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1pt solid; text-align: left">Pampa</TD>
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1pt solid; text-align: center">CB Series 19</TD>
    <TD STYLE="border-bottom: #5F6062 1pt solid; color: #5F6062; text-align: center">2025</TD>
    <TD STYLE="border-bottom: #5F6062 1pt solid; color: #5F6062; text-align: center">17,131</TD>
    <TD STYLE="border-bottom: #5F6062 1pt solid; color: #5F6062; text-align: center">17,131</TD>
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1pt solid; text-align: center">Badlar Privada -1%</TD></TR>
  </TABLE>


<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 4pt 1.35pt 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>Notes</B>:
<B>1</B> According to IFRS, affiliates are not consolidated in Pampa&#8217;s FS. <B>2</B> Series 4 CB from CTEB was canceled after Q3
24 closing.<BR>
<B>3</B> Series 22 CB from Pampa was issued after the Q3 24 closing.</FONT></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt; text-align: justify; color: #20396D"><FONT STYLE="font-family: Verdana"><B><I>Credit
ratings</I></B></FONT></P>

<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 12pt 0 4pt; color: #0081C6"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; text-align: left">Company</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; text-align: center">Agency</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">Rating</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; text-align: center">Global</TD>
    <TD STYLE="color: white; text-align: center">Local</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD ROWSPAN="3" STYLE="color: #5F6062; border-top: #1A458C 0.5pt solid; text-align: left; width: 27%">Pampa</TD>
    <TD STYLE="color: #5F6062; border-top: #1A458C 0.5pt solid; text-align: center; width: 24%">S&amp;P</TD>
    <TD STYLE="color: #5F6062; border-top: #1A458C 0.5pt solid; text-align: center; width: 24%">b-<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>1</SUP></FONT></TD>
    <TD STYLE="color: #5F6062; border-top: #1A458C 0.5pt solid; text-align: center; width: 24%">na</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: center">Moody's</TD>
    <TD STYLE="color: #5F6062; text-align: center">Caa3</TD>
    <TD STYLE="color: #5F6062; text-align: center">na</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: center">FitchRatings<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>2</SUP></FONT></TD>
    <TD STYLE="color: #5F6062; text-align: center">B-</TD>
    <TD STYLE="color: #5F6062; text-align: center">AA+ (long-term)<BR>
A1+ (short-term)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD ROWSPAN="3" STYLE="color: #5F6062; text-align: left">TGS</TD>
    <TD STYLE="color: #5F6062; text-align: center">S&amp;P</TD>
    <TD STYLE="color: #5F6062; text-align: center">CCC</TD>
    <TD STYLE="color: #5F6062; text-align: center">na</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: center">Moody's</TD>
    <TD STYLE="color: #5F6062; text-align: center">Caa3</TD>
    <TD STYLE="color: #5F6062; text-align: center">na</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: center">FitchRatings</TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: center">B-</TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: center">na</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: left">Transener</TD>
    <TD STYLE="color: #5F6062; text-align: center">FitchRatings<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>2</SUP></FONT></TD>
    <TD STYLE="color: #5F6062; text-align: center">na</TD>
    <TD STYLE="color: #5F6062; text-align: center">A+ (long-term)</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; border-bottom: #5F6062 1.5pt solid; text-align: left">CTEB</TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; border-bottom: #5F6062 1.5pt solid; text-align: center">FitchRatings<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>2</SUP></FONT></TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; border-bottom: #5F6062 1.5pt solid; text-align: center">na</TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; border-bottom: #5F6062 1.5pt solid; text-align: center">AA-</TD></TR>
  </TABLE>


<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 4pt 210.9pt 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>Note</B>:
<B>1</B> Stand-alone. <B>2 </B>Local ratings issued by FIX SCR.<BR STYLE="clear: both"></FONT></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 16pt/105% Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 0.25in; margin-left: 0pt; color: #0081C6"><FONT STYLE="font-family: Verdana"><B>3.
Analysis of the Q3 24 results</B></FONT></P>

<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 4pt 5.75pt 0 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>&nbsp;</B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; border-bottom: #1A458C 0.5pt solid; border-left: #1A458C 0.5pt solid; text-align: left">Breakdown by segment<BR>
<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white">Figures in US$ million</FONT></TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; border-right: #1A458C 1.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Q3 24</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-right: #1A458C 1.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Q3 23</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; font-style: italic; border-bottom: white 0.5pt solid; text-align: center">Variation</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right">Sales</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right">Adjusted EBITDA</TD>
    <TD STYLE="color: white; border-right: #1A458C 1.5pt solid; border-bottom: #1A458C 0.5pt solid; text-align: right">Net Income</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right">Sales</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right">Adjusted EBITDA</TD>
    <TD STYLE="color: white; border-right: #1A458C 1.5pt solid; border-bottom: #1A458C 0.5pt solid; text-align: right">Net Income</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: #1A458C 0.5pt solid; text-align: center">Sales</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: #1A458C 0.5pt solid; text-align: center">Adjusted EBITDA</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: #1A458C 0.5pt solid; text-align: center">Net Income</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; width: 27%">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right; width: 8%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Power generation</TD>
    <TD STYLE="color: #5F6062; text-align: right">183</TD>
    <TD STYLE="color: #5F6062; text-align: right">112</TD>
    <TD STYLE="color: #5F6062; text-align: right">95</TD>
    <TD STYLE="color: #5F6062; text-align: right">163</TD>
    <TD STYLE="color: #5F6062; text-align: right">91</TD>
    <TD STYLE="color: #5F6062; text-align: right">110</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+12%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+23%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-14%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Oil and Gas</TD>
    <TD STYLE="color: #5F6062; text-align: right">228</TD>
    <TD STYLE="color: #5F6062; text-align: right">122</TD>
    <TD STYLE="color: #5F6062; text-align: right">(4)</TD>
    <TD STYLE="color: #5F6062; text-align: right">207</TD>
    <TD STYLE="color: #5F6062; text-align: right">132</TD>
    <TD STYLE="color: #5F6062; text-align: right">2</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+10%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-8%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Petrochemicals</TD>
    <TD STYLE="color: #5F6062; text-align: right">140</TD>
    <TD STYLE="color: #5F6062; text-align: right">2</TD>
    <TD STYLE="color: #5F6062; text-align: right">7</TD>
    <TD STYLE="color: #5F6062; text-align: right">132</TD>
    <TD STYLE="color: #5F6062; text-align: right">16</TD>
    <TD STYLE="color: #5F6062; text-align: right">15</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+6%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-88%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-53%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Holding and Others</TD>
    <TD STYLE="color: #5F6062; text-align: right">19</TD>
    <TD STYLE="color: #5F6062; text-align: right">43</TD>
    <TD STYLE="color: #5F6062; text-align: right">48</TD>
    <TD STYLE="color: #5F6062; text-align: right">3</TD>
    <TD STYLE="color: #5F6062; text-align: right">6</TD>
    <TD STYLE="color: #5F6062; text-align: right">25</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+92%</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle">Eliminations</TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: right">(30)</TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: right">(30)</TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">NA</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">NA</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 1pt solid; border-bottom: Black 1pt solid">Total</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">540</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">279</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">146</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">475</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">244</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">152</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">+14%</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">+14%</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">-4%</TD></TR>
  </TABLE>
<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 4pt 5.75pt 0 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B></B></FONT></P>

<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 3pt 5.75pt 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>Note</B>:
Net income attributable to the Company&#8217;s shareholders.</FONT></P>

<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt 35.3pt; text-align: justify; text-indent: -35.3pt; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>3.1
Reconciliation of consolidated adjusted EBITDA</B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: #1A458C 0.5pt solid; border-bottom: #1A458C 0.5pt solid; border-left: #1A458C 0.5pt solid; text-align: left">Reconciliation of adjusted EBITDA,<BR>
<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white">in US$ million</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: #1A458C 0.5pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Nine-month period</TD>
    <TD STYLE="vertical-align: bottom; border-top: #1A458C 0.5pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Third quarter</TD></TR>
  <TR STYLE="background-color: #1A458C">
    <TD STYLE="vertical-align: bottom; border-bottom: #1A458C 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2024</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2023</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2024</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2023</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; width: 53%">Consolidated operating income</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">392</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">414</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">154</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">148</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle">Consolidated depreciations and amortizations</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">257</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">203</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">105</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">77</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Reporting EBITDA</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">649</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">617</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">259</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">225</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Adjustments from generation segment</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">80</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(5)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">7</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Adjustments from oil and gas segment</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">5</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(0)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">14</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(1)</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Adjustments from petrochemicals segment</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(0)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">3</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(0)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(0)</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Adjustments from holding &amp; others segment</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">20</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">57</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">20</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid">Consolidated adjusted EBITDA</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; text-align: right">754</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; text-align: right">672</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; border-top: #5F6062 1pt solid; text-align: right">279</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; text-align: right">244</TD></TR>
  <TR>
    <TD STYLE="padding-left: 18px; font-weight: bold; font-style: italic; vertical-align: middle; border-bottom: #5F6062 1pt solid; text-align: left">At our ownership</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; border-bottom: #5F6062 1pt solid; text-align: right">753</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; border-bottom: #5F6062 1pt solid; text-align: right">673</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; border-bottom: #5F6062 1pt solid; text-align: right">279</TD>
    <TD STYLE="font-weight: bold; font-style: italic; vertical-align: middle; border-bottom: #5F6062 1pt solid; text-align: right">245</TD></TR>
  </TABLE>
<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<!-- Field: Page; Sequence: 10; Options: NewSection; Value: 10 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 12pt 0 6pt 35.3pt; text-align: justify; text-indent: -35.3pt; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>3.2
Analysis of the power generation segment</B></FONT></P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; border-bottom: #1A458C 0.5pt solid; border-left: #1A458C 0.5pt solid; text-align: left">Power generation segment, consolidated<BR>
<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white">Figures in US$ million</FONT></TD>
    <TD STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Nine-month period</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Third quarter</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; font-weight: bold; border-bottom: #1A458C 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">2024</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right">2023</TD>
    <TD STYLE="color: white; font-style: italic; border-right: #1A458C 0.5pt solid; border-bottom: #1A458C 0.5pt solid; text-align: right">&#8710;%</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right">2024</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right">2023</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: #1A458C 0.5pt solid; text-align: right">&#8710;%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; width: 49%">Sales revenue</TD>
    <TD STYLE="color: #4F5150; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right; width: 8%">505</TD>
    <TD STYLE="color: #4F5150; text-align: right; width: 8%">507</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right; width: 8%">-0%</TD>
    <TD STYLE="color: #4F5150; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right; width: 8%">183</TD>
    <TD STYLE="color: #4F5150; text-align: right; width: 8%">163</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right; width: 8%">+12%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Cost of sales</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(260)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(275)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-5%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(102)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(94)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+9%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Gross profit</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">245</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">232</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">+6%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">81</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">69</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">+17%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Selling expenses</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(2)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(1)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+100%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(1)</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Administrative expenses</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(39)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(38)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+3%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(14)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(12)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+17%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Other operating income</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">34</TD>
    <TD STYLE="color: #4F5150; text-align: right">50</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-32%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">2</TD>
    <TD STYLE="color: #4F5150; text-align: right">15</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-87%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Other operating expenses</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(11)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(24)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-54%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(4)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(10)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-60%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Impairment of financial assets</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(46)</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Results for participation in joint businesses</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(28)</TD>
    <TD STYLE="color: #4F5150; text-align: right">9</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">10</TD>
    <TD STYLE="color: #4F5150; text-align: right">4</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+150%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Operating income</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">153</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">228</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-33%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">74</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">66</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">+12%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Finance income</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">3</TD>
    <TD STYLE="color: #4F5150; text-align: right">2</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+50%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">1</TD>
    <TD STYLE="color: #4F5150; text-align: right">1</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Finance costs</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(39)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(92)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-58%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(11)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(26)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-58%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Other financial results</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">102</TD>
    <TD STYLE="color: #4F5150; text-align: right">221</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-54%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">22</TD>
    <TD STYLE="color: #4F5150; text-align: right">97</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-77%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic">Financial results, net</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic; text-align: right">66</TD>
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic; text-align: right">131</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; text-align: right">-50%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic; text-align: right">12</TD>
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic; text-align: right">72</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; text-align: right">-83%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Profit before tax</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">219</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">359</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-39%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">86</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">138</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-38%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Income tax</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">109</TD>
    <TD STYLE="color: #4F5150; text-align: right">(48)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">9</TD>
    <TD STYLE="color: #4F5150; text-align: right">(27)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid">Net income for the period</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">328</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">311</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-top: #5F6062 1pt solid; text-align: right">+5%</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">95</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">111</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-top: #5F6062 1pt solid; text-align: right">-14%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">Attributable to owners of the Company</TD>
    <TD STYLE="padding-left: 36px; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: right">328</TD>
    <TD STYLE="font-style: italic; text-align: right">310</TD>
    <TD STYLE="font-style: italic; text-align: right">+6%</TD>
    <TD STYLE="padding-left: 36px; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: right">95</TD>
    <TD STYLE="font-style: italic; text-align: right">110</TD>
    <TD STYLE="font-style: italic; text-align: right">-14%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; font-style: italic; border-bottom: #5F6062 1pt solid; text-align: left">Attributable to non-controlling interests</TD>
    <TD STYLE="padding-left: 36px; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">-</TD>
    <TD STYLE="font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">1</TD>
    <TD STYLE="font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">-100%</TD>
    <TD STYLE="padding-left: 36px; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">-</TD>
    <TD STYLE="font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">1</TD>
    <TD STYLE="font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">-100%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 36px; color: #4F5150; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 36px; color: #4F5150; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 36px; color: #4F5150; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #5F6062">
    <TD STYLE="color: white; font-weight: bold">Adjusted EBITDA</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right">304</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right">297</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; text-align: right">+2%</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right">112</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right">91</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; text-align: right">+23%</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #5F6062">
    <TD STYLE="color: white; font-weight: bold; font-style: italic">Adjusted EBITDA at our share ownership</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; text-align: right">304</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; text-align: right">298</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; text-align: right">+2%</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; text-align: right">112</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; text-align: right">91</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; text-align: right">+23%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Increases in PPE</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">67</TD>
    <TD STYLE="color: #5F6062; text-align: right">192</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-65%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">24</TD>
    <TD STYLE="color: #4F5150; text-align: right">46</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-48%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Depreciation and amortization</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">71</TD>
    <TD STYLE="color: #4F5150; text-align: right">74</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-4%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">31</TD>
    <TD STYLE="color: #4F5150; text-align: right">24</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+29%</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"></FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.3pt"><FONT STYLE="font-family: Verdana; color: #5F6062">During
Q3 24, power generation</FONT> <FONT STYLE="font-family: Verdana; color: #00B0F0"><B>sales</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">increased
12% year-on-year, mainly due to higher legacy or spot energy prices from the AR$ increases that outpaced the devaluation, in addition
to outstanding operating performance with higher availability and load factor in spot and PPAs units. MATER sales also grew, thanks to
the gradual commissioning of PEPE 6. These effects were partially offset by lower Energ&iacute;a Plus demand due to the decline in industrial
activity and the divestment of PEMC in August 2023.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.3pt"><FONT STYLE="font-family: Verdana; color: #5F6062">Additionally,
</FONT><FONT STYLE="font-family: Verdana; color: #00B0F0">spot energy remuneration increases</FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">impacted
the CCGTs capacity payment, which also has a partial income in US$ (US$5.3 thousand per MW-month, +16% year-on-year and +11% vs. Q2 24).
For open cycles (GT and ST), the remuneration was equivalent to US$4.8 thousand per MW-month (+23% vs. Q3 23 and vs. Q2 24) and US$2.3
thousand per MW-month for hydros (+24% vs. Q3 23 and +15% vs. Q2 24).</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.3pt; color: #5F6062"><FONT STYLE="font-family: Verdana">Compared
to Q2 24, the increase of 9% in sales responds to better spot prices and higher thermal dispatch.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #5F6062">The
</FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>operating performance</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">of
Pampa&#8217;s operated power generation grew by 19% vs. Q3 23, compared to a 3% year-on-year drop in national generation, because of
the lower availability of the grid&#8217;s power plants due to maintenance. This increase was mainly attributed to higher dispatch at
CTGEBA because of improved natural gas supply and overhauls in Q3 23 (+597 GWh), at CTEB (+173 GWh) and CTLL due to an outage in the
GT05 and overhauls in Q3 23 (+159 GWh). Lower water at HPPL (-148 GWh) and PEMC&#8217;s divestment (-97 GWh) partially offset these effects.</FONT></P>


<!-- Field: Page; Sequence: 11; Options: NewSection; Value: 11 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.3pt"><FONT STYLE="font-family: Verdana; color: #5F6062">The
</FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>availability</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">of
Pampa&#8217;s operated units reached 96.2% in Q3 24, 244-basis points higher than Q3 23&#8217;s 93.7%, due to the outage at CTLL&#8217;s
GT05 and programmed overhauls at CTGEBA&#8217;s GT03 in Q3 23, that were offset by an outage at CTLL&#8217;s GT05 during August 2024.
Therefore, a 96.0% thermal availability rate was reached in Q3 24, 392 basis points higher than 92.1% from Q3 23.</FONT></P>



<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 1.5pt solid; text-align: left">Power generation's <BR>
key performance indicators&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 1.5pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">2024</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 1.5pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">2023</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 1.5pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="color: white; font-weight: bold; font-style: italic; border-bottom: white 0.5pt solid; text-align: center">Variation</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; border-bottom: white 1.5pt solid; text-align: center">Hydro</TD>
    <TD STYLE="color: white; border-bottom: white 1.5pt solid; text-align: center">Wind</TD>
    <TD STYLE="color: white; border-bottom: white 1.5pt solid; text-align: center">Thermal</TD>
    <TD STYLE="color: white; font-weight: bold; border-bottom: white 1.5pt solid; text-align: center">Total</TD>
    <TD STYLE="color: white; border-bottom: white 1.5pt solid; text-align: center">Hydro</TD>
    <TD STYLE="color: white; border-bottom: white 1.5pt solid; text-align: center">Wind</TD>
    <TD STYLE="color: white; border-bottom: white 1.5pt solid; text-align: center">Thermal</TD>
    <TD STYLE="color: white; font-weight: bold; border-bottom: white 1.5pt solid; text-align: center">Total</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: white 1.5pt solid; text-align: center">Hydro</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: white 1.5pt solid; text-align: center">Wind</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: white 1.5pt solid; text-align: center">Thermal</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; border-bottom: white 1.5pt solid; text-align: center">Total</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: left; width: 24%">Installed capacity (MW)</TD>
    <TD STYLE="color: #5F6062; text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center; width: 6%">938</TD>
    <TD STYLE="color: #5F6062; text-align: center; width: 6%">382</TD>
    <TD STYLE="color: #5F6062; text-align: center; width: 6%">4,107</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 6%">5,426</TD>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center; width: 6%">938</TD>
    <TD STYLE="color: #5F6062; text-align: center; width: 6%">287</TD>
    <TD STYLE="color: #5F6062; text-align: center; width: 6%">4,107</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 6%">5,332</TD>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center; width: 6%">-</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center; width: 6%">+33%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center; width: 6%">-</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center; width: 6%">+2%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">New capacity (%)</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">-</TD>
    <TD STYLE="color: #5F6062; text-align: center">100%</TD>
    <TD STYLE="color: #5F6062; text-align: center">33%</TD>
    <TD STYLE="font-weight: bold; text-align: center">32%</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">-</TD>
    <TD STYLE="color: #5F6062; text-align: center">100%</TD>
    <TD STYLE="color: #5F6062; text-align: center">33%</TD>
    <TD STYLE="font-weight: bold; text-align: center">31%</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center">+1%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">Market share (%)</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">2.2%</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.9%</TD>
    <TD STYLE="color: #5F6062; text-align: center">9.6%</TD>
    <TD STYLE="font-weight: bold; text-align: center">12.6%</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">2.2%</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.7%</TD>
    <TD STYLE="color: #5F6062; text-align: center">9.5%</TD>
    <TD STYLE="font-weight: bold; text-align: center">12.3%</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+0%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+0%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+0%</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center">+0%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #939393">
    <TD STYLE="color: white; font-weight: bold">Nine-month period</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: left">Net generation (GWh)</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">1,641</TD>
    <TD STYLE="color: #5F6062; text-align: center">839</TD>
    <TD STYLE="color: #5F6062; text-align: center">14,467</TD>
    <TD STYLE="font-weight: bold; text-align: center">16,947</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">1,249</TD>
    <TD STYLE="color: #5F6062; text-align: center">913</TD>
    <TD STYLE="color: #5F6062; text-align: center">13,800</TD>
    <TD STYLE="font-weight: bold; text-align: center">15,963</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+31%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-8%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+5%</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center">+6%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: left">Volume sold (GWh)</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">1,641</TD>
    <TD STYLE="color: #5F6062; text-align: center">844</TD>
    <TD STYLE="color: #5F6062; text-align: center">15,054</TD>
    <TD STYLE="font-weight: bold; text-align: center">17,539</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">1,250</TD>
    <TD STYLE="color: #5F6062; text-align: center">913</TD>
    <TD STYLE="color: #5F6062; text-align: center">14,655</TD>
    <TD STYLE="font-weight: bold; text-align: center">16,818</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+31%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-8%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+3%</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center">+4%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: left">Average price (US$/MWh)</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">15</TD>
    <TD STYLE="color: #5F6062; text-align: center">72</TD>
    <TD STYLE="color: #5F6062; text-align: center">35</TD>
    <TD STYLE="font-weight: bold; text-align: center">35</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">19</TD>
    <TD STYLE="color: #5F6062; text-align: center">72</TD>
    <TD STYLE="color: #5F6062; text-align: center">35</TD>
    <TD STYLE="font-weight: bold; text-align: center">35</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-20%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-1%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+0%</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center">-2%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: left">Average gross margin (US$/MWh)</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">6</TD>
    <TD STYLE="color: #5F6062; text-align: center">62</TD>
    <TD STYLE="color: #5F6062; text-align: center">22</TD>
    <TD STYLE="font-weight: bold; text-align: center">22</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">5</TD>
    <TD STYLE="color: #5F6062; text-align: center">62</TD>
    <TD STYLE="color: #5F6062; text-align: center">21</TD>
    <TD STYLE="font-weight: bold; text-align: center">22</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+9%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-0%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+5%</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center">+2%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #939393">
    <TD STYLE="color: white; font-weight: bold">Third quarter</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="color: white">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: left">Net generation (GWh)</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">540</TD>
    <TD STYLE="color: #5F6062; text-align: center">337</TD>
    <TD STYLE="color: #5F6062; text-align: center">5,074</TD>
    <TD STYLE="font-weight: bold; text-align: center">5,951</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">596</TD>
    <TD STYLE="color: #5F6062; text-align: center">316</TD>
    <TD STYLE="color: #5F6062; text-align: center">4,073</TD>
    <TD STYLE="font-weight: bold; text-align: center">4,985</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-9%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+7%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+25%</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center">+19%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: left">Volume sold (GWh)</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">540</TD>
    <TD STYLE="color: #5F6062; text-align: center">340</TD>
    <TD STYLE="color: #5F6062; text-align: center">5,280</TD>
    <TD STYLE="font-weight: bold; text-align: center">6,161</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">596</TD>
    <TD STYLE="color: #5F6062; text-align: center">316</TD>
    <TD STYLE="color: #5F6062; text-align: center">4,340</TD>
    <TD STYLE="font-weight: bold; text-align: center">5,252</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-9%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+8%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+22%</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center">+17%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: left">Average price (US$/MWh)</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">17</TD>
    <TD STYLE="color: #5F6062; text-align: center">72</TD>
    <TD STYLE="color: #5F6062; text-align: center">35</TD>
    <TD STYLE="font-weight: bold; text-align: center">36</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">14</TD>
    <TD STYLE="color: #5F6062; text-align: center">72</TD>
    <TD STYLE="color: #5F6062; text-align: center">39</TD>
    <TD STYLE="font-weight: bold; text-align: center">38</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+25%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-1%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-9%</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center">-5%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; text-align: left">Average gross margin (US$/MWh)</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">6</TD>
    <TD STYLE="color: #5F6062; text-align: center">54</TD>
    <TD STYLE="color: #5F6062; text-align: center">22</TD>
    <TD STYLE="font-weight: bold; text-align: center">23</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">3</TD>
    <TD STYLE="color: #5F6062; text-align: center">61</TD>
    <TD STYLE="color: #5F6062; text-align: center">23</TD>
    <TD STYLE="font-weight: bold; text-align: center">23</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+99%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-11%</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-3%</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center">-2%</TD></TR>
  </TABLE>
<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 6pt 0 3pt; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"></FONT></P>

<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>Note</B>:
Gross margin before amortization and depreciation. It includes CTEB, operated by Pampa (co-operated by Pampa, 50% equity stake). PEMC
was de-consolidated in August 2023.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.3pt"><FONT STYLE="font-family: Verdana; color: #5F6062">Excluding
depreciation and amortizations, net </FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>operating costs</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">increased
by 14% to US$88 million vs. Q3 23, mainly explained by lower overdue interests from CAMMESA due to a drop in rates and days of sales
outstanding, and by gas and electricity transportation tariff increases. These effects were partially offset by lower power purchases
to cover contracts. Compared to Q2 24, operating costs rose 42% due to lower overdue interests from CAMMESA and higher maintenance expenses
and power purchases, partially offset by lower labor costs.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>Financial
results</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">in Q3 24 reached a net profit of US$12 million, 83% lower than Q3
23, mainly due to lower gains from financial instruments, offset by reduced financial interests because of lower AR$-debt stock and lesser
losses from FX differences, due to minor devaluation impact over AR$ trade receivables.</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: #1A458C 0.5pt solid; border-bottom: #1A458C 0.5pt solid; border-left: #1A458C 0.5pt solid; text-align: left">Reconciliation of adjusted EBITDA from power generation, <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white">in US$ million</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: #1A458C 0.5pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Nine-month period</TD>
    <TD STYLE="vertical-align: bottom; border-top: #1A458C 0.5pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Third quarter</TD></TR>
  <TR STYLE="background-color: #1A458C">
    <TD STYLE="vertical-align: bottom; border-bottom: #1A458C 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2024</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2023</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2024</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2023</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; width: 53%">Consolidated operating income</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">153</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">228</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">74</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">66</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle">Consolidated depreciations and amortizations</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">71</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">74</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">31</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">24</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Reporting EBITDA</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">224</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">302</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">105</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">90</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Deletion of CTEB's equity income</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">28</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(9)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(10)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(4)</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Deletion of commercial interests to CAMMESA</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(28)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(41)</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(2)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(12)</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Deletion of CAMMESA's receivable impairment</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">32</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Deletion of PPE activation in operating expenses</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Deletion of provision in hydros</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">5</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">6</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">2</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">CTEB's EBITDA, at our 50% ownership</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">41</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">37</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">16</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">16</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid">Adjusted EBITDA from power generation</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">304</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">297</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">112</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">91</TD></TR>
  </TABLE>


<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>Adjusted
EBITDA</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">from the power generation segment was US$112 million, a 23% increase
year-on-year, boosted by the spot energy prices and operational outperformance, offset by higher operating expenses. Adjusted EBITDA
excludes non-operating, non-recurrent and non-cash items and considers CTEB&#8217;s 50% ownership, which posted US$16 million in Q3 24,
the same as in Q3 23.</FONT></P>


<!-- Field: Page; Sequence: 12; Options: NewSection; Value: 12 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->



<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #5F6062">Finally,
without CTEB,</FONT> <FONT STYLE="font-family: Verdana; color: #00B0F0"><B>capital expenditures </B></FONT><FONT STYLE="font-family: Verdana; color: #5F6062">registered
US$24 million in Q3 24 vs. US$46 million in Q3 23, explained by the completion of works in PEPE 4 (commissioned in Q4 23) and partially
offset by the last disbursements for PEPE 6, which is estimated to be fully operating by Q4 24. The PEPE 6 project is detailed below:</FONT></P>

<P STYLE="font: 6.5pt/105% Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; text-align: left">Project</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; text-align: center">MW</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; text-align: center">Marketing</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; text-align: center">Currency</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">Awarded price</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">Estimated capex in <BR>
US$ million<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 700; color: white"><SUP>1</SUP></FONT></TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; text-align: center">Date of <BR>
commissioning</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; border-bottom: white 1pt solid; text-align: center">Capacity per<BR>
MW-month</TD>
    <TD STYLE="color: white; border-bottom: white 1pt solid; text-align: center">Variable<BR>
per MWh</TD>
    <TD STYLE="color: white; border-bottom: white 1pt solid; text-align: center">Total <BR>
per MWh</TD>
    <TD STYLE="color: white; border-bottom: white 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: white 1pt solid; text-align: center">Budget</TD>
    <TD STYLE="color: white; border-bottom: white 1pt solid; text-align: center">% Executed <BR>
@09/30/24</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #9E9FA0">
    <TD STYLE="color: white; font-weight: bold; text-align: left; width: 19%">Renewable</TD>
    <TD STYLE="color: white; font-weight: bold; width: 5%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; width: 13%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; width: 9%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right; width: 9%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right; width: 9%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right; width: 9%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; width: 12%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1.5pt solid; text-align: left">Pampa Energ&iacute;a 6</TD>
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1.5pt solid; text-align: right">139.5</TD>
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1.5pt solid; text-align: center">MAT ER</TD>
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1.5pt solid; text-align: center">US$</TD>
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1.5pt solid; text-align: center">na</TD>
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1.5pt solid; text-align: center">na</TD>
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1.5pt solid; text-align: right">62<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1.5pt solid; text-align: right">269</TD>
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1.5pt solid; text-align: center">72%</TD>
    <TD STYLE="color: #5F6062; border-bottom: #5F6062 1.5pt solid; text-align: center">Q4 2024 (est.)</TD></TR>
  </TABLE>
<P STYLE="font: 6.5pt/105% Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"></FONT></P>

<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>Note:
1</B> Without value-added tax. <B>2</B> Estimated average.</FONT></P>

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

<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 12pt 0 6pt 35.3pt; text-align: justify; text-indent: -35.3pt; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>3.3
Analysis of the oil and gas segment</B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; border-bottom: #1A458C 0.5pt solid; border-left: #1A458C 0.5pt solid; text-align: left">Oil &amp; gas segment, consolidated<BR>
<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white">Figures in US$ million</FONT></TD>
    <TD STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Nine-month period</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Third quarter</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; font-weight: bold; border-bottom: #1A458C 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">2024</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">2023</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">&#8710;%</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">2024</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">2023</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">&#8710;%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; width: 49%">Sales revenue</TD>
    <TD STYLE="color: #4F5150; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right; width: 8%">596</TD>
    <TD STYLE="color: #4F5150; text-align: right; width: 8%">548</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right; width: 8%">+9%</TD>
    <TD STYLE="color: #4F5150; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right; width: 8%">228</TD>
    <TD STYLE="color: #4F5150; text-align: right; width: 8%">207</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right; width: 8%">+10%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #4F5150; font-style: italic; text-align: left">Domestic sales</TD>
    <TD STYLE="color: #4F5150; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">512</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">411</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+25%</TD>
    <TD STYLE="color: #4F5150; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">201</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">181</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+11%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #4F5150; font-style: italic; text-align: left">Foreign market sales</TD>
    <TD STYLE="color: #4F5150; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">84</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">137</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-39%</TD>
    <TD STYLE="color: #4F5150; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">28</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">26</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+5%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Cost of sales</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(387)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(319)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+21%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(153)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(121)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+26%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Gross profit</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">209</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">229</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-9%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">75</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">86</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-13%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Selling expenses</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(46)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(38)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+21%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(17)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(13)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+31%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Administrative expenses</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(57)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(56)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+2%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(21)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(18)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+17%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Exploration expenses</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; text-align: right">(7)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-100%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Other operating income</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">67</TD>
    <TD STYLE="color: #4F5150; text-align: right">64</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+5%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">25</TD>
    <TD STYLE="color: #4F5150; text-align: right">39</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-36%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Other operating expenses</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(22)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(26)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-15%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(8)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(13)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-38%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Impairment of financial assets</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(10)</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Operating income</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">122</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">166</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-27%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">35</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">81</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-57%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Finance income</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">1</TD>
    <TD STYLE="color: #4F5150; text-align: right">2</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-50%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">1</TD>
    <TD STYLE="color: #4F5150; text-align: right">1</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Finance costs</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(71)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(157)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-55%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(22)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(60)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-63%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Other financial results</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(17)</TD>
    <TD STYLE="color: #4F5150; text-align: right">7</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(3)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(18)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-83%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic">Financial results, net</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic; text-align: right">(87)</TD>
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic; text-align: right">(148)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; text-align: right">-41%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic; text-align: right">(24)</TD>
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic; text-align: right">(77)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; text-align: right">-69%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Loss before tax</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">35</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">18</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">+94%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">11</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">4</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">+175%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Income tax</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">36</TD>
    <TD STYLE="color: #4F5150; text-align: right">(2)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(15)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(2)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid">Net loss for the period</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">71</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">16</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-top: #5F6062 1pt solid; text-align: right">NA</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">(4)</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">2</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-top: #5F6062 1pt solid; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 36px; color: #4F5150; font-style: italic; border-top: #5F6062 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 36px; color: #4F5150; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; border-top: #5F6062 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; border-top: #5F6062 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; border-top: #5F6062 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 36px; color: #4F5150; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right; border-top-color: #5F6062; border-top-width: 1pt">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right; border-top-color: #5F6062; border-top-width: 1pt">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right; border-top-color: #5F6062; border-top-width: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #5F6062">
    <TD STYLE="color: white; font-weight: bold">Adjusted EBITDA</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right">310</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right">291</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; text-align: right">+7%</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right">122</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right">132</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; text-align: right">-8%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Increases in PPE and right-of-use assets</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">243</TD>
    <TD STYLE="color: #5F6062; text-align: right">385</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-37%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">46</TD>
    <TD STYLE="color: #4F5150; text-align: right">169</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-73%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Depreciation and amortization</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">183</TD>
    <TD STYLE="color: #4F5150; text-align: right">125</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+46%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">73</TD>
    <TD STYLE="color: #4F5150; text-align: right">52</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+40%</TD></TR>
  </TABLE>


<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Verdana; color: #5F6062">In
Q3 24, </FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>sales</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">from
the oil and gas segment grew by 10% vs. Q3 23, mainly due to the increased gas deliveries under Plan Gas, thanks to the GPNK commissioned
in August 2023. However, deliveries were limited by transportation constraints due to delays in the commissioning of GPNK&#8217;s compressor
stations and higher temperatures in September. Higher gas sales prices to distribution companies, in line with the </FONT><FONT STYLE="font-family: Verdana; color: #00B0F0">demand
tariff increases</FONT><FONT STYLE="font-family: Verdana; color: #5F6062">, and better crude oil prices and volumes contributed to the
segment&#8217;s sales increase. These effects were partially offset by lower gas sales to large users and exports to Chile, which were
affected by the economic downturn and higher hydrology, respectively.</FONT></P>


<!-- Field: Page; Sequence: 13; Options: NewSection; Value: 13 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0 3pt; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 1.5pt solid; text-align: left">Oil and gas'<BR>
key performance indicators&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 1.5pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">2024</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 1.5pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">2023</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 1.5pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; font-style: italic; border-bottom: white 0.5pt solid; text-align: center">Variation</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; border-bottom: white 1.5pt solid; text-align: center">Oil</TD>
    <TD STYLE="color: white; border-bottom: white 1.5pt solid; text-align: center">Gas</TD>
    <TD STYLE="color: white; font-weight: bold; border-bottom: white 1.5pt solid; text-align: center">Total</TD>
    <TD STYLE="color: white; border-bottom: white 1.5pt solid; text-align: center">Oil</TD>
    <TD STYLE="color: white; border-bottom: white 1.5pt solid; text-align: center">Gas</TD>
    <TD STYLE="color: white; font-weight: bold; border-bottom: white 1.5pt solid; text-align: center">Total</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: white 1.5pt solid; text-align: center">Oil</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: white 1.5pt solid; text-align: center">Gas</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; border-bottom: white 1.5pt solid; text-align: center">Total</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #939393">
    <TD STYLE="color: white; font-weight: bold; width: 33%">Nine-month period</TD>
    <TD STYLE="color: white; font-weight: bold; width: 1%">&nbsp;</TD>
    <TD STYLE="color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; width: 1%">&nbsp;</TD>
    <TD STYLE="color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; width: 1%">&nbsp;</TD>
    <TD STYLE="color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; width: 7%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #DFDFDF">
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: left">Volume</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: left">Production</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">In thousand m<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>3</SUP>/day</FONT></TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.8</TD>
    <TD STYLE="color: #5F6062; text-align: center">13,382</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.8</TD>
    <TD STYLE="color: #5F6062; text-align: center">10,793</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="color: #5F6062; font-style: italic; text-align: center">+2%</TD>
    <TD ROWSPAN="3" STYLE="color: #5F6062; font-style: italic; text-align: center">+24%</TD>
    <TD ROWSPAN="3" STYLE="font-weight: bold; font-style: italic; text-align: center">+22%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">In million cubic feet/day</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">473</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">381</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">In thousand boe/day</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">5.0</TD>
    <TD STYLE="color: #5F6062; text-align: center">78.8</TD>
    <TD STYLE="font-weight: bold; text-align: center">83.8</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">4.9</TD>
    <TD STYLE="color: #5F6062; text-align: center">63.5</TD>
    <TD STYLE="font-weight: bold; text-align: center">68.5</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: left">Sales</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">In thousand m<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>3</SUP>/day</FONT></TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.8</TD>
    <TD STYLE="color: #5F6062; text-align: center">13,331</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.8</TD>
    <TD STYLE="color: #5F6062; text-align: center">10,827</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="color: #5F6062; font-style: italic; text-align: center">-10%</TD>
    <TD ROWSPAN="3" STYLE="color: #5F6062; font-style: italic; text-align: center">+23%</TD>
    <TD ROWSPAN="3" STYLE="font-weight: bold; font-style: italic; text-align: center">+21%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">In million cubic feet/day</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">471</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">382</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">In thousand boe/day</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">4.8</TD>
    <TD STYLE="color: #5F6062; text-align: center">78.5</TD>
    <TD STYLE="font-weight: bold; text-align: center">83.3</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">5.3</TD>
    <TD STYLE="color: #5F6062; text-align: center">63.7</TD>
    <TD STYLE="font-weight: bold; text-align: center">69.0</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #DFDFDF">
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: left">Average Price</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">In US$/bbl</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">71.0</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">65.5</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="color: #5F6062; font-style: italic; text-align: center">+8%</TD>
    <TD ROWSPAN="2" STYLE="color: #5F6062; font-style: italic; text-align: center">-13%</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">In US$/MBTU</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">3.9</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">4.5</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #939393">
    <TD STYLE="color: white; font-weight: bold">Third quarter</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #DFDFDF">
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: left">Volume</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: left">Production</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">In thousand m<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>3</SUP>/day</FONT></TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.9</TD>
    <TD STYLE="color: #5F6062; text-align: center">13,944</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.7</TD>
    <TD STYLE="color: #5F6062; text-align: center">12,860</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="color: #5F6062; font-style: italic; text-align: center">+16%</TD>
    <TD ROWSPAN="3" STYLE="color: #5F6062; font-style: italic; text-align: center">+8%</TD>
    <TD ROWSPAN="3" STYLE="font-weight: bold; font-style: italic; text-align: center">+9%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">In million cubic feet/day</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">492</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">454</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">In thousand boe/day</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">5.4</TD>
    <TD STYLE="color: #5F6062; text-align: center">82.1</TD>
    <TD STYLE="font-weight: bold; text-align: center">87.5</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">4.7</TD>
    <TD STYLE="color: #5F6062; text-align: center">75.7</TD>
    <TD STYLE="font-weight: bold; text-align: center">80.4</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: left">Sales</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">In thousand m<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>3</SUP>/day</FONT></TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.9</TD>
    <TD STYLE="color: #5F6062; text-align: center">13,632</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.7</TD>
    <TD STYLE="color: #5F6062; text-align: center">12,885</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="color: #5F6062; font-style: italic; text-align: center">+18%</TD>
    <TD ROWSPAN="3" STYLE="color: #5F6062; font-style: italic; text-align: center">+6%</TD>
    <TD ROWSPAN="3" STYLE="font-weight: bold; font-style: italic; text-align: center">+7%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">In million cubic feet/day</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">481</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">455</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">In thousand boe/day</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">5.5</TD>
    <TD STYLE="color: #5F6062; text-align: center">80.2</TD>
    <TD STYLE="font-weight: bold; text-align: center">85.7</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">4.6</TD>
    <TD STYLE="color: #5F6062; text-align: center">75.8</TD>
    <TD STYLE="font-weight: bold; text-align: center">80.5</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #DFDFDF">
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: left">Average Price</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">In US$/bbl</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">71.9</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">63.1</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="color: #5F6062; font-style: italic; text-align: center">+14%</TD>
    <TD ROWSPAN="2" STYLE="color: #5F6062; font-style: italic; text-align: center">-6%</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">In US$/MBTU</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">4.4</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">4.7</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: Silver; color: #5F6062; text-align: center">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0 3pt; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"></FONT></P>

<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>Note:
</B>The net production in Argentina. The gas volume is standardized at 9,300 kilocalories (kCal).</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #5F6062">Regarding
</FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>operating performance</B></FONT><FONT STYLE="font-family: Verdana; color: #5F6062">,
total production in Q3 24 was 87.5 kboe per day (+9% vs. Q3 23 but -4% vs. Q2 24), with an increase in </FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>gas
production</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">to 13.9 million m<SUP>3</SUP> per day (+8% vs. Q3 23 but -4%
vs. Q2 24), boosted by the latest round 4.2 of Plan Gas filling the GPNK, but limited by transportation constraints. Lower gas demand
from Chile and industries and higher temperatures in September partially offset the year-on-year and quarter-on-quarter increases.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>Analyzing
the gas output by block</B></FONT><FONT STYLE="font-family: Verdana; color: #5F6062">, 57% of our total production in Q3 24 came from
El Mangrullo, where we reached 8.0 million m<SUP>3</SUP> per day (+7% vs. Q3 23, but -13% vs. Q2 24). Sierra Chata followed with a 29%
contribution, growing production to 4.0 million m<SUP>3</SUP> per day (+18% vs. Q3 23 and +20% vs. Q2 24). The outstanding productivity
of Sierra Chata&#8217;s shale wells hit a production record in July, with 5.0 million m<SUP>3</SUP> per day. At non-operated blocks,
R&iacute;o Neuqu&eacute;n maintained a steady production at 1.7 million m<SUP>3</SUP> per day (+2% vs. Q3 23 and similar to Q2 24), while
Rinc&oacute;n del Mangrullo continued to deplete, contributing 0.2 million m<SUP>3</SUP> per day (-21% vs. Q3 23 and -9% vs. Q2 24).</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #5F6062">Our
</FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>gas price</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">in
Q3 24 averaged US$4.4 per MBTU (-6% vs. Q3 23 but +10% vs. Q2 24, due to seasonality), primarily explained by lower exports to Chile
and sales to large users, partially offset by higher prices to retail, in line with the </FONT><FONT STYLE="font-family: Verdana; color: #00B0F0">tariff
increases</FONT><FONT STYLE="font-family: Verdana; color: #5F6062">. As a result, Plan Gas compensation decreased 41% vs. Q3 23 to US$18
million.</FONT></P>


<!-- Field: Page; Sequence: 14; Options: NewSection; Value: 14 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #5F6062">Regarding
our </FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>gas deliveries</B></FONT><FONT STYLE="font-family: Verdana; color: #5F6062">,
during Q3 24, 46% was destined for distribution companies and 40% for thermal power generation, both under Plan Gas. 7% supplied the
industrial/spot market, 3% was exported, and the remaining was sold to our petchem plants as raw material. Compared to Q3 23, 41% supplied
the retail segment, 41% the thermal power units, 10% sold to the industrial/spot market, 5% was exported and the remainder to our petchem
plants.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>Oil
production </B></FONT><FONT STYLE="font-family: Verdana; color: #5F6062">reached 5.4 kbbl per day in Q3 24 (+16% vs. Q3 23 and similar
to Q2 24), driven by the start of shale oil production at Rinc&oacute;n de Aranda (+1.2 kbbl per day), partially offset by year-on-year
decreases of 0.2 kbbl per day at El Tordillo and 0.5 kbbl per day at Los Blancos.</FONT></P>




<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #5F6062">Our
</FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>oil price</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">in
Q3 24 was 14% higher than Q3 23, reaching US$71.9 per barrel, with domestic and export prices very similar. 54% of our sales were destined
for the domestic market, compared to 85% during Q3 23.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #5F6062">The
</FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>lifting cost<SUP>[5]</SUP></B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">recorded
US$48 million in Q3 24 (+16% vs. Q3 23 and +9% vs. Q2 24), mainly due to the shale oil development in Rinc&oacute;n de Aranda and, to
a lesser extent, higher gas treatment and transportation costs. The </FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>lifting
cost per boe </B></FONT><FONT STYLE="font-family: Verdana; color: #5F6062">increased to US$6.0 per boe produced in Q3 24, vs. US$5.6
per boe in Q3 23 (+6%) and US$5.3 per boe in Q2 24 (+12%). However, </FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>gas
lifting cost</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">decreased by 2% vs. Q3 23 to US$0.8/MBTU, explained by the
growth in production.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #5F6062">Regarding
</FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>other operating income and expenses</B></FONT><FONT STYLE="font-family: Verdana; color: #5F6062">,
higher crude oil stock costs and royalties stand out due to the increased crude oil price and gas production. Plan Gas compensation reached
US$18 million, a 41% year-on-year decrease because of the </FONT><FONT STYLE="font-family: Verdana; color: #00B0F0">higher prices charged
to distribution companies</FONT><FONT STYLE="font-family: Verdana; color: #5F6062">, as mentioned before. These effects were partially
offset by higher overdue interests, explained by a year-on-year rise in Plan Gas invoicing.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>Financial
results</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">in Q3 24 recorded net losses of US$24 million, a 69% improvement
vs. Q3 23, mainly due to lower financial interests from decreased AR$-debt stock and lesser losses from FX differences due to the minor
devaluation impact over trade receivables in AR$, partially offset by lower gains from holding financial securities.</FONT></P>



<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: #1A458C 0.5pt solid; border-bottom: #1A458C 0.5pt solid; border-left: #1A458C 0.5pt solid; text-align: left">Reconciliation of adjusted EBITDA from oil &amp; gas,<BR>
<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white">in US$ million</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: #1A458C 0.5pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Nine-month period</TD>
    <TD STYLE="vertical-align: bottom; border-top: #1A458C 0.5pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Third quarter</TD></TR>
  <TR STYLE="background-color: #1A458C">
    <TD STYLE="vertical-align: bottom; border-bottom: #1A458C 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2024</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2023</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2024</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2023</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; width: 53%">Consolidated operating income</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">122</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">166</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">35</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">81</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle">Consolidated depreciations and amortizations</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">183</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">125</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">73</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">52</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Reporting EBITDA</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">305</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">291</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">108</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">133</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Deletion of PPE &amp; inventories' impairment</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">19</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">19</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Deletion of gain from commercial interests</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(18)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(7)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(5)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(1)</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Deletion of R&iacute;o Atuel's reversal losses</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">7</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Deletion of CAMMESA's receivable impairment</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">4</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid">Adjusted EBITDA from oil &amp; gas</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">310</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">291</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">122</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">132</TD></TR>
  </TABLE>


<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #5F6062">Our
oil and gas </FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>adjusted EBITDA</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">amounted
to US$122 million in Q3 24 (-8% vs. Q3 23), mainly explained by higher operating expenses and lower sales to industries and exports,
partially offset by higher gas deliveries under Plan Gas, thanks to the GPNK. The adjusted EBITDA excludes non-recurring and non-cash
income and expenses, as well as overdue interests, which are mainly charged to CAMMESA.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #5F6062">Finally,
</FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>capital expenditures</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">amounted
to US$46 million in Q3 24 (-73% vs. Q3 23), mainly driven by the shale gas deployment during 2023, partially offset by the beginning
of the shale oil pilot plan in Rinc&oacute;n de Aranda.</FONT></P>


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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-left: 0pt; text-align: justify"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: rgb(95,96,98)"><SUP>5
</SUP> It only considers maintenance, treatment, internal transportation and wellhead staff costs. It does not include amortizations and depreciations.<BR><BR STYLE="clear: both"></FONT></P>


<!-- Field: Page; Sequence: 15; Options: NewSection; Value: 15 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt 35.45pt; text-align: justify; text-indent: -35.45pt; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>3.4
Analysis of the petrochemicals segment</B></FONT></P>



<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; border-bottom: #1A458C 0.5pt solid; border-left: #1A458C 0.5pt solid; text-align: left">Petrochemicals segment, consolidated<BR>
<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white">Figures in US$ million</FONT></TD>
    <TD STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Nine-month period</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Third quarter</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; font-weight: bold; border-bottom: #1A458C 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">2024</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">2023</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">&#8710;%</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">2024</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">2023</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">&#8710;%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; width: 49%">Sales revenue</TD>
    <TD STYLE="color: #4F5150; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right; width: 8%">394</TD>
    <TD STYLE="color: #4F5150; text-align: right; width: 8%">389</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right; width: 8%">+1%</TD>
    <TD STYLE="color: #4F5150; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right; width: 8%">140</TD>
    <TD STYLE="color: #4F5150; text-align: right; width: 8%">132</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right; width: 8%">+6%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #4F5150; font-style: italic; text-align: left">Domestic sales</TD>
    <TD STYLE="color: #4F5150; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">247</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">273</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-10%</TD>
    <TD STYLE="color: #4F5150; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">91</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">92</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-0%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #4F5150; font-style: italic; text-align: left">Foreign market sales</TD>
    <TD STYLE="color: #4F5150; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">147</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">116</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+27%</TD>
    <TD STYLE="color: #4F5150; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">48</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">40</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+21%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Cost of sales</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(361)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(341)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+6%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(135)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(110)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+23%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Gross profit</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">33</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">48</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-31%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">5</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">22</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-77%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Selling expenses</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(9)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(12)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-25%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(3)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(4)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-25%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Administrative expenses</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(5)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(5)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(2)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(2)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Other operating income</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">11</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">3</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Other operating expenses</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(5)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(2)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+150%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(2)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(1)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+100%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Impairment of inventories</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; text-align: right">(3)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-100%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Operating income</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">25</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">26</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-4%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">1</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">15</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-93%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Finance costs</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(3)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(2)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+50%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(1)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(1)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Other financial results</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">4</TD>
    <TD STYLE="color: #4F5150; text-align: right">7</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-43%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">3</TD>
    <TD STYLE="color: #4F5150; text-align: right">4</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-25%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic">Financial results, net</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic; text-align: right">1</TD>
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic; text-align: right">5</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; text-align: right">-80%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic; text-align: right">2</TD>
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic; text-align: right">3</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; text-align: right">-33%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Profit before tax</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">26</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">31</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-16%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">3</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">18</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-83%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Income tax</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">7</TD>
    <TD STYLE="color: #4F5150; text-align: right">(5)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">4</TD>
    <TD STYLE="color: #4F5150; text-align: right">(3)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid">Net income for the period</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">33</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">26</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-top: #5F6062 1pt solid; text-align: right">+27%</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">7</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">15</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-top: #5F6062 1pt solid; text-align: right">-53%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 36px; color: #4F5150; font-style: italic; border-top: #5F6062 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 36px; color: #4F5150; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; border-top: #5F6062 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; border-top: #5F6062 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; border-top: #5F6062 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 36px; color: #4F5150; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right; border-top-color: #5F6062; border-top-width: 1pt">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right; border-top-color: #5F6062; border-top-width: 1pt">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right; border-top-color: #5F6062; border-top-width: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #5F6062">
    <TD STYLE="color: white; font-weight: bold">Adjusted EBITDA</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right">28</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right">33</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; text-align: right">-15%</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right">2</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right">16</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; text-align: right">-88%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Increases in PPE</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">4</TD>
    <TD STYLE="color: #5F6062; text-align: right">4</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">2</TD>
    <TD STYLE="color: #4F5150; text-align: right">1</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+100%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Depreciation and amortization</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">3</TD>
    <TD STYLE="color: #4F5150; text-align: right">4</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-25%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">1</TD>
    <TD STYLE="color: #4F5150; text-align: right">1</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-</TD></TR>
  </TABLE>
<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"></FONT></P>



<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: #1A458C 0.5pt solid; border-bottom: #1A458C 0.5pt solid; border-left: #1A458C 0.5pt solid; text-align: left">Reconciliation of adjusted EBITDA from petrochemicals, <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white">in US$ million</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: #1A458C 0.5pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Nine-month period</TD>
    <TD STYLE="vertical-align: bottom; border-top: #1A458C 0.5pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Third quarter</TD></TR>
  <TR STYLE="background-color: #1A458C">
    <TD STYLE="vertical-align: bottom; border-bottom: #1A458C 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2024</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2023</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2024</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2023</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; width: 53%">Consolidated operating income</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">25</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">26</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">1</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">15</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle">Consolidated depreciations and amortizations</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">3</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">4</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">1</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Reporting EBITDA</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">28</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">30</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">2</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">16</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Deletion of inventory impairment</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">3</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Deletion of gain from commercial interests</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(0)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(0)</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(0)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(0)</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid">Adjusted EBITDA from petrochemicals</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">28</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">33</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">2</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">16</TD></TR>
  </TABLE>
<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"></FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.3pt"><FONT STYLE="font-family: Verdana; color: #5F6062">The
</FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>adjusted EBITDA</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">for
the petrochemicals segment reached US$2 million in Q3 24, an 88% drop compared to Q3 23. This decrease was driven by lower international
spread in reforming products, a drop in domestic polystyrene prices, a decline in domestic volumes of styrenics and higher US$-denominated
operating expenses. These effects were partially offset by higher dispatch of reforming products, both in domestic and foreign markets.
In addition, we recorded a US$3 million profit from the settlement of exports at a differential FX.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Verdana; color: #5F6062">Total
</FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>volume</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">sold
increased by 25% vs. Q3 23, reaching 128 thousand tons, driven by higher reforming dispatch of octane basis in the local market and isomerized
naphtha and aromatic for export. Lower demand for styrene, polystyrene and SBR partially offset these gains, mainly due to the local
industry activity.</FONT></P>




<!-- Field: Page; Sequence: 16 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Verdana; color: #5F6062">In
Q3 24, </FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>financial results</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">from
the petrochemicals segment reached a profit of US$2 million, similar to Q3 23 US$3 million profit, mainly explained by the lower impact
of the AR$ devaluation over payables.</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; text-align: left">Petrochemicals'<BR>
key performance indicators&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">Products</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 1.5pt solid; text-align: center">Total</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; font-size: 8.5pt; text-align: center">Styrene &amp; polystyrene<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 8.5pt; font-style: normal; font-weight: 400; color: white"><SUP>1</SUP></FONT></TD>
    <TD STYLE="color: white; font-size: 8.5pt; text-align: center">SBR</TD>
    <TD STYLE="color: white; font-size: 8.5pt; text-align: center">Reforming &amp; others</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #939393">
    <TD STYLE="color: white; font-weight: bold; border-top: white 1.5pt solid; width: 37%">Nine-month period</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: white 1.5pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: white 1.5pt solid; text-align: center; width: 17%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: white 1.5pt solid; text-align: center; width: 17%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: white 1.5pt solid; text-align: center; width: 17%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: white 1.5pt solid; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center; border-top-color: white; border-top-width: 1.5pt; width: 10%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">Volume sold 9M24 (thousand ton)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">64</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">33</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">251</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">348</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Volume sold 9M23 (thousand ton)</TD>
    <TD STYLE="color: #4F5150; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">84</TD>
    <TD STYLE="color: #4F5150; text-align: center">32</TD>
    <TD STYLE="color: #4F5150; text-align: center">195</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">311</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #4F5150; font-style: italic; text-align: left">Variation 9M24 vs. 9M23</TD>
    <TD STYLE="padding-left: 21px; color: #4F5150; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-24%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+4%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+29%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: center">+12%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">Average price 9M24 (US$/ton)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">1,818</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">1,841</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">861</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">1,130</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Average price 9M23 (US$/ton)</TD>
    <TD STYLE="color: #4F5150; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">1,860</TD>
    <TD STYLE="color: #4F5150; text-align: center">1,813</TD>
    <TD STYLE="color: #4F5150; text-align: center">891</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">1,248</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #4F5150; font-style: italic; text-align: left">Variation 9M24 vs. 9M23</TD>
    <TD STYLE="padding-left: 21px; color: #4F5150; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-2%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+2%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-3%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: center">-9%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <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></TR>
  <TR STYLE="vertical-align: middle; background-color: #939393">
    <TD STYLE="color: white; font-weight: bold; border-top: white 1.5pt solid">Third quarter</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: white 1.5pt solid">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: white 1.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: white 1.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: white 1.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: white 1.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: white 1.5pt solid; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">Volume sold Q3 24 (thousand ton)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">22</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">11</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">94</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">128</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Volume sold Q3 23 (thousand ton)</TD>
    <TD STYLE="color: #4F5150; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">30</TD>
    <TD STYLE="color: #4F5150; text-align: center">12</TD>
    <TD STYLE="color: #4F5150; text-align: center">60</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">102</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #4F5150; font-style: italic; text-align: left">Variation Q3 24 vs. Q3 23</TD>
    <TD STYLE="padding-left: 21px; color: #4F5150; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-27%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-11%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+59%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: center">+25%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">Average price Q3 24 (US$/ton)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">1,825</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">1,926</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">822</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">1,092</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; text-align: left">Average price Q3 23 (US$/ton)</TD>
    <TD STYLE="color: #4F5150; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">1,809</TD>
    <TD STYLE="color: #4F5150; text-align: center">1,639</TD>
    <TD STYLE="color: #4F5150; text-align: center">942</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">1,285</TD></TR>
  <TR STYLE="border-bottom: rgb(95,96,98) 2.25pt solid; vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #4F5150; font-style: italic; text-align: left">Variation Q3 24 vs. Q3 23</TD>
    <TD STYLE="padding-left: 21px; color: #4F5150; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+1%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+18%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-13%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: center">-15%</TD></TR>
  </TABLE>
<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 12pt 5.4pt 3pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>&nbsp;Note:
1 Includes Propylene.</B></FONT></P>

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

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

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

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

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

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

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

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

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


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt 35.45pt; text-align: justify; text-indent: -35.45pt; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>3.5
Analysis of the holding and others segment</B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; border-bottom: #1A458C 0.5pt solid; border-left: #1A458C 0.5pt solid; text-align: left">Holding and others segment, consolidated<BR>
<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white">Figures in US$ million</FONT></TD>
    <TD STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Nine-month period</TD>
    <TD STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Third quarter</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; font-weight: bold; border-bottom: #1A458C 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">2024</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">2023</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">&#8710;%</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">2024</TD>
    <TD STYLE="color: white; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">2023</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: #1A458C 0.5pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">&#8710;%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; width: 50%">Sales revenue</TD>
    <TD STYLE="color: #4F5150; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right; width: 8%">29</TD>
    <TD STYLE="color: #4F5150; text-align: right; width: 8%">11</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right; width: 8%">+164%</TD>
    <TD STYLE="color: #4F5150; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right; width: 8%">19</TD>
    <TD STYLE="color: #4F5150; text-align: right; width: 8%">3</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right; width: 8%">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Cost of sales</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(5)</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(5)</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Gross profit</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">24</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">11</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">+118%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">14</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">3</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Administrative expenses</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(38)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(34)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+12%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(19)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(12)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+58%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Other operating income</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">4</TD>
    <TD STYLE="color: #4F5150; text-align: right">1</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+300%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">3</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Other operating expenses</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(34)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(16)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+113%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(6)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(9)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-33%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Impairment of financial assets</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; text-align: right">(4)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-100%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; text-align: right">(1)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-100%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Recovery/(accrual) of impairment on intangible assets</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; text-align: right">2</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-100%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Income from the sale of associates</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">7</TD>
    <TD STYLE="color: #4F5150; text-align: right">1</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; text-align: right">1</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-100%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Results for participation in joint businesses</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">129</TD>
    <TD STYLE="color: #4F5150; text-align: right">33</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+291%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">52</TD>
    <TD STYLE="color: #4F5150; text-align: right">4</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Operating income</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">92</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">(6)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">NA</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">44</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">(14)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Finance income</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; text-align: right">5</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-100%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; text-align: right">2</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-100%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Finance costs</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(24)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(37)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-35%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(9)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(10)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-10%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Other financial results</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">25</TD>
    <TD STYLE="color: #4F5150; text-align: right">157</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-84%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">18</TD>
    <TD STYLE="color: #4F5150; text-align: right">55</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-67%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic">Financial results, net</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic; text-align: right">1</TD>
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic; text-align: right">125</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; text-align: right">-99%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic; text-align: right">9</TD>
    <TD STYLE="color: #333333; font-weight: bold; font-style: italic; text-align: right">47</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; text-align: right">-81%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Profit before tax</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">93</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">119</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-22%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">53</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">33</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">+61%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Income tax</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(12)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(14)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-14%</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">(5)</TD>
    <TD STYLE="color: #4F5150; text-align: right">(8)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-38%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid">Net income for the period</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">81</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">105</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-top: #5F6062 1pt solid; text-align: right">-23%</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">48</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">25</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-top: #5F6062 1pt solid; text-align: right">+92%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 36px; color: #4F5150; font-style: italic; border-top: #5F6062 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 36px; color: #4F5150; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; border-top: #5F6062 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; border-top: #5F6062 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; border-top: #5F6062 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 36px; color: #4F5150; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right; border-top-color: #5F6062; border-top-width: 1pt">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right; border-top-color: #5F6062; border-top-width: 1pt">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right; border-top-color: #5F6062; border-top-width: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #5F6062">
    <TD STYLE="color: white; font-weight: bold">Adjusted EBITDA</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right">112</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right">51</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; text-align: right">+118%</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right">43</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: right">6</TD>
    <TD STYLE="color: white; font-weight: bold; font-style: italic; text-align: right">NA</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Increases in PPE&nbsp;</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">4</TD>
    <TD STYLE="color: #5F6062; text-align: right">4</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">-</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">2</TD>
    <TD STYLE="color: #4F5150; text-align: right">1</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">+100%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Depreciation and amortization</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD>
    <TD STYLE="color: #4F5150">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: right">NA</TD></TR>
  </TABLE>
<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #5F6062">The
holding and others segment, excluding the affiliates&#8217; equity income (TGS and Transener), posted a lower loss on </FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>operating
margin </B></FONT><FONT STYLE="font-family: Verdana; color: #5F6062">of US$8 million in Q3 24 vs. US$18 million in Q3 23, mainly explained
by </FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><U>the accounting consolidation of OCP from September 1, 2024</U></FONT><FONT STYLE="font-family: Verdana; color: #5F6062">,
which contributed US$7 million of operating income, in addition to higher fees, partially offset by higher accrual of executive compensation
due to the share price outperformance.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #5F6062">In
Q3 24, </FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>financial results</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">reached
a net profit of US$9 million, US$38 million less than in Q3 23, mainly due to lower earnings from FX difference over tax payables, partially
offset by higher gains from holding financial instruments.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<!-- Field: Page; Sequence: 18; Options: NewSection; Value: 18 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: #1A458C 0.5pt solid; border-bottom: #1A458C 0.5pt solid; border-left: #1A458C 0.5pt solid; text-align: left">Reconciliation of adjusted EBITDA from holding and others, <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white">in US$ million</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: #1A458C 0.5pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Nine-month period</TD>
    <TD STYLE="vertical-align: bottom; border-top: #1A458C 0.5pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: white; font-weight: bold; vertical-align: middle; border-top: #1A458C 0.5pt solid; border-bottom: white 0.5pt solid; text-align: center">Third quarter</TD></TR>
  <TR STYLE="background-color: #1A458C">
    <TD STYLE="vertical-align: bottom; border-bottom: #1A458C 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2024</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2023</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2024</TD>
    <TD STYLE="color: white; vertical-align: middle; border-bottom: #1A458C 0.5pt solid; text-align: right">2023</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; width: 53%">Consolidated operating income</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">92</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">(6)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">44</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; width: 11%">(14)</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle">Consolidated depreciations and amortizations</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">Reporting EBITDA</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">92</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">(6)</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">44</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; vertical-align: middle; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">(14)</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Deletion of equity income</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(129)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(33)</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(52)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(4)</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Deletion of gain from commercial interests</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(0)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(0)</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(0)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">0</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Deletion of contigencies provision&nbsp;</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">16</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Deletion of intang. assets' impairment/(recovery)</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(2)</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Deletion of the sale of associates</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(7)</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(1)</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">-</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">(1)</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">TGS's EBITDA adjusted by ownership</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">113</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">73</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">40</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">21</TD></TR>
  <TR>
    <TD STYLE="color: #5F6062; vertical-align: middle; text-align: left">Transener's EBITDA adjusted by ownership</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">26</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">20</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">11</TD>
    <TD STYLE="color: #4F5150; vertical-align: middle; text-align: right">4</TD></TR>
  <TR>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid">Adjusted EBITDA from holding and others</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">112</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">51</TD>
    <TD STYLE="color: #4F5150; vertical-align: bottom; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">43</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: #5F6062 1pt solid; border-bottom: #5F6062 1pt solid; text-align: right">6</TD></TR>
  </TABLE>
<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"></FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #5F6062">The
</FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>adjusted EBITDA</B></FONT> <FONT STYLE="font-family: Verdana; color: #5F6062">of
our holding and others segment reached US$43 million in Q3 24, compared to US$6 million in Q3 23. This calculation excludes non-operating,
non-recurring and non-cash items and includes the EBITDA adjusted by equity ownership in TGS and Transener.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt; color: #5F6062"><FONT STYLE="font-family: Verdana">Since
September 1, OCP Ecuador has contributed an EBITDA of US$7 million to our FS.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #5F6062">In
</FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>TGS</B></FONT><FONT STYLE="font-family: Verdana; color: #5F6062">, the EBITDA
adjusted by our stake was US$40 million in Q3 24, 90% higher than Q3 23, mainly explained by the 675% tariff increase over the regulated
transportation business from April 2024, along with subsequent updates in August and September of 4% and 1%, respectively. To a lesser
extent, the midstream segment recorded higher gas transportation and treatment sales in Tratay&eacute;n vs. Q3 23. These effects were
partially offset by lower sales in the liquids segment due to a scheduled overhaul at Cerri and lower ethane prices, partially offset
by better propane and butane prices.</FONT></P>

<P STYLE="font: 9pt/105% Verdana, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Verdana; color: #5F6062">In
</FONT><FONT STYLE="font-family: Verdana; color: #00B0F0"><B>Transener</B></FONT><FONT STYLE="font-family: Verdana; color: #5F6062">,
the EBITDA adjusted by our stake was US$11 million in Q3 24 vs. US$4 million in Q3 23, mainly due to the tariff increase applicable from
February 2024 (179.7% Transener and 191.1% Transba), and the tariff updates as from August and September of 6% for each period.</FONT></P>

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

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

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

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

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

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

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


<!-- Field: Page; Sequence: 19 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt 35.3pt; text-align: justify; text-indent: -35.3pt; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>3.6
Analysis of the nine months, by subsidiary and segment</B></FONT></P>

<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>&nbsp;</B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="3" STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; text-align: left">Subsidiary<BR>
<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white">In US$ million</FONT></TD>
    <TD COLSPAN="4" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">Nine-month period 2024</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">Nine-month period 2023</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">% Pampa</TD>
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">Adjusted EBITDA</TD>
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">Net <BR>
debt<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white"><SUP>3</SUP></FONT></TD>
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">Net <BR>
income<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white"><SUP>4</SUP></FONT></TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">% Pampa</TD>
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">Adjusted EBITDA</TD>
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">Net <BR>
debt<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white"><SUP>3</SUP></FONT></TD>
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">Net <BR>
income<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white"><SUP>4</SUP></FONT></TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #9E9FA0">
    <TD STYLE="color: white; font-weight: bold; width: 42%">Power generation segment</TD>
    <TD STYLE="color: white; text-align: left; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: left; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left; width: 7%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Diamante</TD>
    <TD STYLE="color: #5F6062; text-align: right">61.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">2</TD>
    <TD STYLE="color: #5F6062; text-align: right">(0)</TD>
    <TD STYLE="color: #5F6062; text-align: right">0</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">61.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">1</TD>
    <TD STYLE="color: #5F6062; text-align: right">(0)</TD>
    <TD STYLE="color: #5F6062; text-align: right">2</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Los Nihuiles</TD>
    <TD STYLE="color: #5F6062; text-align: right">52.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">(1)</TD>
    <TD STYLE="color: #5F6062; text-align: right">(0)</TD>
    <TD STYLE="color: #5F6062; text-align: right">(1)</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">52.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">(4)</TD>
    <TD STYLE="color: #5F6062; text-align: right">(0)</TD>
    <TD STYLE="color: #5F6062; text-align: right">(0)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">VAR</TD>
    <TD STYLE="color: #5F6062; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">14</TD>
    <TD STYLE="color: #5F6062; text-align: right">(0)</TD>
    <TD STYLE="color: #5F6062; text-align: right">9</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">15</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Greenwind<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 7.65pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>1</SUP></FONT></TD>
    <TD STYLE="color: #5F6062; text-align: right">0.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">11</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">3</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-style: italic; text-align: left">CTBSA</TD>
    <TD STYLE="color: #5F6062; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">81</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">203</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(56)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">74</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">270</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">17</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-style: italic; text-align: left">Non-controlling stake adjustment</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(41)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(101)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">28</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(37)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(135)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(9)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Subtotal CTBSA adjusted by ownership</TD>
    <TD STYLE="color: #5F6062; text-align: right">50.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">41</TD>
    <TD STYLE="color: #5F6062; text-align: right">101</TD>
    <TD STYLE="color: #5F6062; text-align: right">(28)</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">50.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">37</TD>
    <TD STYLE="color: #5F6062; text-align: right">135</TD>
    <TD STYLE="color: #5F6062; text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Pampa stand-alone, other companies, &amp; adj.<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>2</SUP></FONT></TD>
    <TD STYLE="color: white; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">248</TD>
    <TD STYLE="color: #5F6062; text-align: right">(419)</TD>
    <TD STYLE="color: #5F6062; text-align: right">347</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">100%</TD>
    <TD STYLE="color: #5F6062; text-align: right">237</TD>
    <TD STYLE="color: #5F6062; text-align: right">(256)</TD>
    <TD STYLE="color: #5F6062; text-align: right">287</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-right: white 1.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: left">Subtotal power generation</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">304</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">(317)</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">328</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">297</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">(121)</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">310</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&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="color: #5F6062">&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: #9E9FA0">
    <TD STYLE="color: white; font-weight: bold">Oil &amp; gas segment</TD>
    <TD STYLE="color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Pampa Energ&iacute;a</TD>
    <TD STYLE="color: #5F6062; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">310</TD>
    <TD STYLE="color: #5F6062; text-align: right">1,029</TD>
    <TD STYLE="color: #5F6062; text-align: right">71</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">291</TD>
    <TD STYLE="color: #5F6062; text-align: right">934</TD>
    <TD STYLE="color: #5F6062; text-align: right">16</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-right: white 1.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: left">Subtotal oil &amp; gas</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">310</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">1,029</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">71</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">291</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">934</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">16</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #9E9FA0">
    <TD STYLE="color: white; font-weight: bold">Petrochemicals segment</TD>
    <TD STYLE="color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Pampa Energ&iacute;a</TD>
    <TD STYLE="color: #5F6062; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">28</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">33</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">33</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">26</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-right: white 1.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: left">Subtotal petrochemicals</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">28</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">33</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">33</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">26</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #9E9FA0">
    <TD STYLE="color: white; font-weight: bold">Holding &amp; others segment</TD>
    <TD STYLE="color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-style: italic; text-align: left">Transener</TD>
    <TD STYLE="color: #5F6062; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">100</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(68)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">47</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">78</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(39)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">35</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-style: italic; text-align: left">Non-controlling stake adjustment</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(74)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">50</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(34)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(57)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">29</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(26)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Subtotal Transener adjusted by ownership</TD>
    <TD STYLE="color: #5F6062; text-align: right">26.3%</TD>
    <TD STYLE="color: #5F6062; text-align: right">26</TD>
    <TD STYLE="color: #5F6062; text-align: right">(18)</TD>
    <TD STYLE="color: #5F6062; text-align: right">12</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">26.3%</TD>
    <TD STYLE="color: #5F6062; text-align: right">20</TD>
    <TD STYLE="color: #5F6062; text-align: right">(10)</TD>
    <TD STYLE="color: #5F6062; text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-style: italic; text-align: left">TGS</TD>
    <TD STYLE="color: #5F6062; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">436</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(92)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">229</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">257</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">82</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">88</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-style: italic; text-align: left">Non-controlling stake adjustment</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(323)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">68</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(170)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(184)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(59)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(63)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Subtotal TGS adjusted by ownership</TD>
    <TD STYLE="color: #5F6062; text-align: right">25.9%</TD>
    <TD STYLE="color: #5F6062; text-align: right">113</TD>
    <TD STYLE="color: #5F6062; text-align: right">(24)</TD>
    <TD STYLE="color: #5F6062; text-align: right">59</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">27.9%</TD>
    <TD STYLE="color: #5F6062; text-align: right">73</TD>
    <TD STYLE="color: #5F6062; text-align: right">23</TD>
    <TD STYLE="color: #5F6062; text-align: right">24</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Pampa stand-alone, other companies, &amp; adj.<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>2</SUP></FONT></TD>
    <TD STYLE="color: white; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">(28)</TD>
    <TD STYLE="color: #5F6062; text-align: right">(71)</TD>
    <TD STYLE="color: #5F6062; text-align: right">9</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">100%</TD>
    <TD STYLE="color: #5F6062; text-align: right">(42)</TD>
    <TD STYLE="color: #5F6062; text-align: right">(0)</TD>
    <TD STYLE="color: #5F6062; text-align: right">71</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-right: white 1.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: left">Subtotal holding &amp; others</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">112</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">(113)</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">81</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">51</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">12</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">105</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Deletions</TD>
    <TD STYLE="color: white; text-align: left">100%</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">(60)</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">100%</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">(148)</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-right: white 1.5pt solid">Total consolidated</TD>
    <TD STYLE="border-top: #5F6062 1pt solid; text-align: left; border-left-color: white; border-left-width: 1.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">754</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">539</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">513</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: #5F6062 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">672</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">677</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">457</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; font-weight: bold; font-style: italic; border-right: white 1.5pt solid; border-bottom: #5F6062 1pt solid; text-align: left">At our share ownership</TD>
    <TD STYLE="font-style: italic; border-bottom: #5F6062 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">753</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">599</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">513</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; border-bottom: #5F6062 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">673</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">824</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">457</TD></TR>
  </TABLE>
<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B></B></FONT></P>

<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>Note</B>:
<B>1</B> Divested in August 2023. <B>2</B> The deletion corresponds to other companies or inter-companies. <B>3</B> Net debt includes
holding companies. <B>4</B> Attributable to the Company&rsquo;s shareholders.</FONT></P>


<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 0; color: #5F6062"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>


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

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

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

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

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

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

<!-- Field: Page; Sequence: 20 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 24pt 0 12pt 35.3pt; text-align: justify; text-indent: -35.3pt; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>3.7
Analysis of the quarter, by subsidiary and segment</B></FONT></P>

<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>&nbsp;</B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="3" STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; text-align: left">Subsidiary<BR>
<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 8.5pt; font-style: normal; font-weight: 400; color: white">In US$ million</FONT></TD>
    <TD COLSPAN="4" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">Q3 24</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">Q3 23</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">% Pampa</TD>
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">Adjusted EBITDA</TD>
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">Net <BR>
debt<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white"><SUP>3</SUP></FONT></TD>
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">Net <BR>
income<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white"><SUP>4</SUP></FONT></TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">% Pampa</TD>
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">Adjusted EBITDA</TD>
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">Net <BR>
debt<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white"><SUP>3</SUP></FONT></TD>
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1pt solid; text-align: right; border-top-color: white; border-top-width: 0.5pt">Net <BR>
income<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white"><SUP>4</SUP></FONT></TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; border-bottom: white 1pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #9E9FA0">
    <TD STYLE="color: white; font-weight: bold; width: 42%">Power generation segment</TD>
    <TD STYLE="color: white; text-align: left; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: left; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left; width: 7%">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left; width: 7%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Diamante</TD>
    <TD STYLE="color: #5F6062; text-align: right">61.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">(0)</TD>
    <TD STYLE="color: #5F6062; text-align: right">(0)</TD>
    <TD STYLE="color: #5F6062; text-align: right">0</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">61.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">1</TD>
    <TD STYLE="color: #5F6062; text-align: right">(0)</TD>
    <TD STYLE="color: #5F6062; text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Los Nihuiles</TD>
    <TD STYLE="color: #5F6062; text-align: right">52.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">(1)</TD>
    <TD STYLE="color: #5F6062; text-align: right">(0)</TD>
    <TD STYLE="color: #5F6062; text-align: right">0</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">52.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">(1)</TD>
    <TD STYLE="color: #5F6062; text-align: right">(0)</TD>
    <TD STYLE="color: #5F6062; text-align: right">(0)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">VAR</TD>
    <TD STYLE="color: #5F6062; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">4</TD>
    <TD STYLE="color: #5F6062; text-align: right">(0)</TD>
    <TD STYLE="color: #5F6062; text-align: right">2</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">5</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">3</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Greenwind<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 7.25pt; font-weight: 400; color: #5F6062"><I><SUP>1</SUP></I></FONT></TD>
    <TD STYLE="color: #5F6062; text-align: right">0.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">2</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">(0)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-style: italic; text-align: left">CTBSA</TD>
    <TD STYLE="color: #5F6062; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">31</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">203</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">27</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">32</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">270</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">7</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-style: italic; text-align: left">Non-controlling stake adjustment</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(16)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(101)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(13)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(16)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(135)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(4)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Subtotal CTBSA adjusted by ownership</TD>
    <TD STYLE="color: #5F6062; text-align: right">50.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">16</TD>
    <TD STYLE="color: #5F6062; text-align: right">101</TD>
    <TD STYLE="color: #5F6062; text-align: right">13</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">50.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">16</TD>
    <TD STYLE="color: #5F6062; text-align: right">135</TD>
    <TD STYLE="color: #5F6062; text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Pampa stand-alone, other companies, &amp; adj.<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 7.65pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>2</SUP></FONT></TD>
    <TD STYLE="color: white; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">93</TD>
    <TD STYLE="color: #5F6062; text-align: right">(419)</TD>
    <TD STYLE="color: #5F6062; text-align: right">80</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">100%</TD>
    <TD STYLE="color: #5F6062; text-align: right">69</TD>
    <TD STYLE="color: #5F6062; text-align: right">(256)</TD>
    <TD STYLE="color: #5F6062; text-align: right">103</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-right: white 1.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: left">Subtotal power generation</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">112</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">(317)</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">95</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">91</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">(121)</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">110</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&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="color: #5F6062">&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: #9E9FA0">
    <TD STYLE="color: white; font-weight: bold">Oil &amp; gas segment</TD>
    <TD STYLE="color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Pampa Energ&iacute;a</TD>
    <TD STYLE="color: #5F6062; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">122</TD>
    <TD STYLE="color: #5F6062; text-align: right">1,029</TD>
    <TD STYLE="color: #5F6062; text-align: right">(4)</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">132</TD>
    <TD STYLE="color: #5F6062; text-align: right">934</TD>
    <TD STYLE="color: #5F6062; text-align: right">2</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-right: white 1.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: left">Subtotal oil &amp; gas</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">122</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">1,029</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">(4)</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">132</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">934</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">2</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #9E9FA0">
    <TD STYLE="color: white; font-weight: bold">Petrochemicals segment</TD>
    <TD STYLE="color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Pampa Energ&iacute;a</TD>
    <TD STYLE="color: #5F6062; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">2</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">7</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">16</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">15</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-right: white 1.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: left">Subtotal petrochemicals</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">2</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">7</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">16</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">15</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #9E9FA0">
    <TD STYLE="color: white; font-weight: bold">Holding &amp; others segment</TD>
    <TD STYLE="color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-style: italic; text-align: left">Transener</TD>
    <TD STYLE="color: #5F6062; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">43</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(68)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">20</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">14</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(39)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-style: italic; text-align: left">Non-controlling stake adjustment</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(31)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">50</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(14)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(10)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">29</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(3)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Subtotal Transener adjusted by ownership</TD>
    <TD STYLE="color: #5F6062; text-align: right">26.3%</TD>
    <TD STYLE="color: #5F6062; text-align: right">11</TD>
    <TD STYLE="color: #5F6062; text-align: right">(18)</TD>
    <TD STYLE="color: #5F6062; text-align: right">5</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">26.3%</TD>
    <TD STYLE="color: #5F6062; text-align: right">4</TD>
    <TD STYLE="color: #5F6062; text-align: right">(10)</TD>
    <TD STYLE="color: #5F6062; text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-style: italic; text-align: left">TGS</TD>
    <TD STYLE="color: #5F6062; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">155</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(92)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">63</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">75</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">82</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">13</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-style: italic; text-align: left">Non-controlling stake adjustment</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(115)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">68</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(46)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(54)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(59)</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: right">(9)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Subtotal TGS adjusted by ownership</TD>
    <TD STYLE="color: #5F6062; text-align: right">25.9%</TD>
    <TD STYLE="color: #5F6062; text-align: right">40</TD>
    <TD STYLE="color: #5F6062; text-align: right">(24)</TD>
    <TD STYLE="color: #5F6062; text-align: right">16</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">27.9%</TD>
    <TD STYLE="color: #5F6062; text-align: right">21</TD>
    <TD STYLE="color: #5F6062; text-align: right">23</TD>
    <TD STYLE="color: #5F6062; text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Pampa stand-alone, other companies, &amp; adj.<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>2</SUP></FONT></TD>
    <TD STYLE="color: white; text-align: right">100.0%</TD>
    <TD STYLE="color: #5F6062; text-align: right">(8)</TD>
    <TD STYLE="color: #5F6062; text-align: right">(71)</TD>
    <TD STYLE="color: #5F6062; text-align: right">27</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">100%</TD>
    <TD STYLE="color: #5F6062; text-align: right">(19)</TD>
    <TD STYLE="color: #5F6062; text-align: right">(0)</TD>
    <TD STYLE="color: #5F6062; text-align: right">20</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-right: white 1.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: left">Subtotal holding &amp; others</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">43</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">(113)</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">48</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">6</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">12</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: right">25</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">Deletions</TD>
    <TD STYLE="color: white; text-align: left">100%</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">(60)</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: left">100%</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD>
    <TD STYLE="color: #5F6062; text-align: right">(148)</TD>
    <TD STYLE="color: #5F6062; text-align: right">-</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; border-right: white 1.5pt solid">Total consolidated</TD>
    <TD STYLE="border-top: #5F6062 1pt solid; text-align: left; border-left-color: white; border-left-width: 1.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">279</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">539</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">146</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: #5F6062 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">244</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">677</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 1pt solid; text-align: right">152</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; font-weight: bold; font-style: italic; border-right: white 1.5pt solid; border-bottom: #5F6062 1pt solid; text-align: left">At our share ownership</TD>
    <TD STYLE="font-style: italic; border-bottom: #5F6062 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">279</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">599</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">146</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; border-bottom: #5F6062 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">245</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">824</TD>
    <TD STYLE="font-weight: bold; font-style: italic; border-bottom: #5F6062 1pt solid; text-align: right">152</TD></TR>
  </TABLE>
<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B></B></FONT></P>

<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B></B></FONT></P>

<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>Note</B>:
<B>1</B> Divested in August 2023. <B>2</B> The deletion corresponds to other companies or inter-companies. <B>3</B> Net debt includes
holding companies. <B>4</B> Attributable to the Company&rsquo;s shareholders.</FONT></P>


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

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



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    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
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<TD STYLE="width: 0.5in"><B>4.</B></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Verdana"><B>Appendix</B></FONT></TD><TD></TD></TR></TABLE>

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<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>4.1
Power generation&#8217;s main operational KPIs by plant</B></FONT></P>

<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 0 0 3pt; color: #5F6062"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; text-align: left">Power generation's<BR>
key performance indicators&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">Hydroelectric</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">Wind</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; text-align: center">Subtotal<BR>
hydro<BR>
+wind</TD>
    <TD COLSPAN="10" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">Thermal</TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; text-align: center">Total</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: center">HINISA</TD>
    <TD STYLE="color: white; text-align: center">HIDISA</TD>
    <TD STYLE="color: white; text-align: center">HPPL</TD>
    <TD STYLE="color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: center">PEMC<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white"><SUP>1</SUP></FONT></TD>
    <TD STYLE="color: white; text-align: center">PEPE2</TD>
    <TD STYLE="color: white; text-align: center">PEPE3</TD>
    <TD STYLE="color: white; text-align: center">PEPE4</TD>
    <TD STYLE="color: white; text-align: center">PEA</TD>
    <TD STYLE="color: white; text-align: center">PEPE6<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 7.2pt; font-style: normal; font-weight: 400; color: white"><SUP>2</SUP></FONT></TD>
    <TD STYLE="color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; text-align: center">CTLL</TD>
    <TD STYLE="color: white; text-align: center">CTG</TD>
    <TD STYLE="color: white; text-align: center">CTP</TD>
    <TD STYLE="color: white; text-align: center">CPB</TD>
    <TD STYLE="color: white; text-align: center">CTPP</TD>
    <TD STYLE="color: white; text-align: center">CTIW</TD>
    <TD STYLE="color: white; text-align: center">CTGEBA</TD>
    <TD STYLE="color: white; text-align: center">Eco-<BR>
Energ&iacute;a</TD>
    <TD STYLE="color: white; text-align: center">CTEB<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: white"><SUP>3</SUP></FONT></TD>
    <TD STYLE="color: white; font-weight: bold; text-align: center">Subtotal<BR>
thermal</TD>
    <TD STYLE="color: white; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; width: 30%">Installed capacity (MW)</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">265</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">388</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">285</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">-</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">53</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">53</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">81</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">100</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">95</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center; width: 4%">1,320</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">780</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">361</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">30</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">620</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">100</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">100</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 4%">1,253</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">14</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 3%">848</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center; width: 4%">4,107</TD>
    <TD STYLE="color: #4F5150; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 3%">5,426</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #4F5150; font-style: italic; text-align: left">New capacity (MW)</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">53</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">53</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">81</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">100</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">95</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; text-align: center">382</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">184</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">100</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">100</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">100</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">565</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">14</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">279</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; text-align: center">1,343</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center">1,724</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Market share</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">0.6%</TD>
    <TD STYLE="color: #4F5150; text-align: center">0.9%</TD>
    <TD STYLE="color: #4F5150; text-align: center">0.7%</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">0.0%</TD>
    <TD STYLE="color: #4F5150; text-align: center">0.1%</TD>
    <TD STYLE="color: #4F5150; text-align: center">0.1%</TD>
    <TD STYLE="color: #4F5150; text-align: center">0.2%</TD>
    <TD STYLE="color: #4F5150; text-align: center">0.2%</TD>
    <TD STYLE="color: #4F5150; text-align: center">0.2%</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">3.1%</TD>
    <TD STYLE="color: #4F5150; text-align: center">1.8%</TD>
    <TD STYLE="color: #4F5150; text-align: center">0.8%</TD>
    <TD STYLE="color: #4F5150; text-align: center">0.1%</TD>
    <TD STYLE="color: #4F5150; text-align: center">1.4%</TD>
    <TD STYLE="color: #4F5150; text-align: center">0.2%</TD>
    <TD STYLE="color: #4F5150; text-align: center">0.2%</TD>
    <TD STYLE="color: #4F5150; text-align: center">2.9%</TD>
    <TD STYLE="color: #4F5150; text-align: center">0.03%</TD>
    <TD STYLE="color: #4F5150; text-align: center">2.0%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">9.6%</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">13%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #939393">
    <TD STYLE="color: white; font-weight: bold">Nine-month period</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold">Net generation 9M24 (GWh)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">569</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">413</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">659</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">-</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">139</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">144</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">253</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">231</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">72</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">2,480</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">3,779</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">219</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">43</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">240</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">125</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">103</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">6,324</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">54</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">3,579</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">14,467</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">16,947</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold">Market share</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.5%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.4%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.6%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.0%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.1%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.1%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.2%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.21%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.07%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">2.3%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">3.5%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.2%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.0%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.2%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.1%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.1%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">5.9%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.1%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">3.3%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">13.5%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">15.8%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold">Sales 9M24 (GWh)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">569</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">413</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">659</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">-</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">147</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">144</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">253</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">231</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">69</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">2,485</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">3,732</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">473</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">43</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">240</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">125</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">103</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">6,644</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">115</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">3,579</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">15,054</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">17,539</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Net generation 9M23 (GWh)</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">286</TD>
    <TD STYLE="color: #4F5150; text-align: center">238</TD>
    <TD STYLE="color: #4F5150; text-align: center">726</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">193</TD>
    <TD STYLE="color: #4F5150; text-align: center">159</TD>
    <TD STYLE="color: #4F5150; text-align: center">162</TD>
    <TD STYLE="color: #4F5150; text-align: center">180</TD>
    <TD STYLE="color: #4F5150; text-align: center">219</TD>
    <TD STYLE="color: #4F5150; text-align: center">-</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">2,162</TD>
    <TD STYLE="color: #4F5150; text-align: center">3,882</TD>
    <TD STYLE="color: #4F5150; text-align: center">119</TD>
    <TD STYLE="color: #4F5150; text-align: center">46</TD>
    <TD STYLE="color: #4F5150; text-align: center">583</TD>
    <TD STYLE="color: #4F5150; text-align: center">251</TD>
    <TD STYLE="color: #4F5150; text-align: center">243</TD>
    <TD STYLE="color: #4F5150; text-align: center">5,563</TD>
    <TD STYLE="color: #4F5150; text-align: center">53</TD>
    <TD STYLE="color: #4F5150; text-align: center">3,061</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">13,800</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">15,963</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #4F5150; font-style: italic; text-align: left">Variation 9M24 vs. 9M23</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+99%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+74%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-9%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-100%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-13%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-11%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+41%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+5%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; text-align: center">+15%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-3%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+83%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-6%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-59%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-50%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-58%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+14%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+3%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+17%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; text-align: center">+5%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center">+6%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Sales 9M23 (GWh)</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">287</TD>
    <TD STYLE="color: #4F5150; text-align: center">238</TD>
    <TD STYLE="color: #4F5150; text-align: center">726</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">193</TD>
    <TD STYLE="color: #4F5150; text-align: center">159</TD>
    <TD STYLE="color: #4F5150; text-align: center">162</TD>
    <TD STYLE="color: #4F5150; text-align: center">180</TD>
    <TD STYLE="color: #4F5150; text-align: center">219</TD>
    <TD STYLE="color: #4F5150; text-align: center">-</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">2,163</TD>
    <TD STYLE="color: #4F5150; text-align: center">3,882</TD>
    <TD STYLE="color: #4F5150; text-align: center">374</TD>
    <TD STYLE="color: #4F5150; text-align: center">46</TD>
    <TD STYLE="color: #4F5150; text-align: center">583</TD>
    <TD STYLE="color: #4F5150; text-align: center">251</TD>
    <TD STYLE="color: #4F5150; text-align: center">243</TD>
    <TD STYLE="color: #4F5150; text-align: center">6,106</TD>
    <TD STYLE="color: #4F5150; text-align: center">110</TD>
    <TD STYLE="color: #4F5150; text-align: center">3,060</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">14,655</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">16,818</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold">Avg. price 9M24 (US$/MWh)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">14</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">22</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">12</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">81</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">64</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">64</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">82</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">64</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">34</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">20</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">52</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">27</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">97</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">36</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">38</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">30</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">35</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">35</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Avg. price 9M23 (US$/MWh)</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">23</TD>
    <TD STYLE="color: #4F5150; text-align: center">37</TD>
    <TD STYLE="color: #4F5150; text-align: center">12</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">70</TD>
    <TD STYLE="color: #4F5150; text-align: center">75</TD>
    <TD STYLE="color: #4F5150; text-align: center">68</TD>
    <TD STYLE="color: #4F5150; text-align: center">68</TD>
    <TD STYLE="color: #4F5150; text-align: center">80</TD>
    <TD STYLE="color: #4F5150; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">42</TD>
    <TD STYLE="color: #4F5150; text-align: center">19</TD>
    <TD STYLE="color: #4F5150; text-align: center">76</TD>
    <TD STYLE="color: #4F5150; text-align: center">30</TD>
    <TD STYLE="color: #4F5150; text-align: center">40</TD>
    <TD STYLE="color: #4F5150; text-align: center">114</TD>
    <TD STYLE="color: #4F5150; text-align: center">93</TD>
    <TD STYLE="color: #4F5150; text-align: center">38</TD>
    <TD STYLE="color: #4F5150; text-align: center">39</TD>
    <TD STYLE="color: #4F5150; text-align: center">30</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">35</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">35</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold">Avg. gross margin 9M24 (US$/MWh)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">4</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">10</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">4</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">56</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">65</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">65</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">63</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">60</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">25</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">17</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">21</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">1</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">19</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">19</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">11</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">25</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">22</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">22</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Avg. gross margin 9M23 (US$/MWh)</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">0</TD>
    <TD STYLE="color: #4F5150; text-align: center">14</TD>
    <TD STYLE="color: #4F5150; text-align: center">4</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">59</TD>
    <TD STYLE="color: #4F5150; text-align: center">56</TD>
    <TD STYLE="color: #4F5150; text-align: center">63</TD>
    <TD STYLE="color: #4F5150; text-align: center">63</TD>
    <TD STYLE="color: #4F5150; text-align: center">69</TD>
    <TD STYLE="color: #4F5150; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">29</TD>
    <TD STYLE="color: #4F5150; text-align: center">15</TD>
    <TD STYLE="color: #4F5150; text-align: center">26</TD>
    <TD STYLE="color: #4F5150; text-align: center">6</TD>
    <TD STYLE="color: #4F5150; text-align: center">7</TD>
    <TD STYLE="color: #4F5150; text-align: center">91</TD>
    <TD STYLE="color: #4F5150; text-align: center">71</TD>
    <TD STYLE="color: #4F5150; text-align: center">20</TD>
    <TD STYLE="color: #4F5150; text-align: center">13</TD>
    <TD STYLE="color: #4F5150; text-align: center">23</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">21</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">22</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #939393">
    <TD STYLE="color: white; font-weight: bold">Third quarter</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold">Net generation Q3 24 (GWh)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">152</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">98</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">290</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">-</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">53</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">52</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">89</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">73</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">69</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">877</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">1,370</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">41</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">6</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">69</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">38</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">36</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">2,155</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">19</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">1,340</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">5,074</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">5,951</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold">Market share</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.4%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.3%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.8%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.0%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.2%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.2%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.3%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.21%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.20%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">2.5%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">3.9%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.1%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.0%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.2%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.1%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.1%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">6.2%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">0.1%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">3.9%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">14.6%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">17.1%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold">Sales Q3 24 (GWh)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">152</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">98</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">290</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">-</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">59</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">52</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">89</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">73</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">67</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">880</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">1,370</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">123</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">6</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">69</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">38</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">36</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">2,260</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">39</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">1,340</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">5,280</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">6,161</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Net generation Q3 23 (GWh)</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">74</TD>
    <TD STYLE="color: #4F5150; text-align: center">84</TD>
    <TD STYLE="color: #4F5150; text-align: center">439</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">28</TD>
    <TD STYLE="color: #4F5150; text-align: center">57</TD>
    <TD STYLE="color: #4F5150; text-align: center">57</TD>
    <TD STYLE="color: #4F5150; text-align: center">97</TD>
    <TD STYLE="color: #4F5150; text-align: center">77</TD>
    <TD STYLE="color: #4F5150; text-align: center">-</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">912</TD>
    <TD STYLE="color: #4F5150; text-align: center">1,211</TD>
    <TD STYLE="color: #4F5150; text-align: center">34</TD>
    <TD STYLE="color: #4F5150; text-align: center">10</TD>
    <TD STYLE="color: #4F5150; text-align: center">-</TD>
    <TD STYLE="color: #4F5150; text-align: center">42</TD>
    <TD STYLE="color: #4F5150; text-align: center">29</TD>
    <TD STYLE="color: #4F5150; text-align: center">1,558</TD>
    <TD STYLE="color: #4F5150; text-align: center">23</TD>
    <TD STYLE="color: #4F5150; text-align: center">1,167</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">4,073</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">4,985</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #4F5150; font-style: italic; text-align: left">Variation Q3 24 vs. Q3 23</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+106%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+17%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-34%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-100%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-6%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-9%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-8%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-6%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; text-align: center">-4%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+13%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+23%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-34%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-10%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+25%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+38%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">-16%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">+15%</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; font-style: italic; text-align: center">+25%</TD>
    <TD STYLE="color: #4F5150; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center">+19%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Sales Q3 23 (GWh)</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">74</TD>
    <TD STYLE="color: #4F5150; text-align: center">84</TD>
    <TD STYLE="color: #4F5150; text-align: center">439</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">28</TD>
    <TD STYLE="color: #4F5150; text-align: center">57</TD>
    <TD STYLE="color: #4F5150; text-align: center">57</TD>
    <TD STYLE="color: #4F5150; text-align: center">97</TD>
    <TD STYLE="color: #4F5150; text-align: center">77</TD>
    <TD STYLE="color: #4F5150; text-align: center">-</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">912</TD>
    <TD STYLE="color: #4F5150; text-align: center">1,211</TD>
    <TD STYLE="color: #4F5150; text-align: center">101</TD>
    <TD STYLE="color: #4F5150; text-align: center">9</TD>
    <TD STYLE="color: #4F5150; text-align: center">-</TD>
    <TD STYLE="color: #4F5150; text-align: center">42</TD>
    <TD STYLE="color: #4F5150; text-align: center">29</TD>
    <TD STYLE="color: #4F5150; text-align: center">1,739</TD>
    <TD STYLE="color: #4F5150; text-align: center">42</TD>
    <TD STYLE="color: #4F5150; text-align: center">1,167</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">4,340</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">5,252</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold">Avg. price Q3 24 (US$/MWh)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">18</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">30</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">13</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">86</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">64</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">64</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">82</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">64</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">38</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">20</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">75</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">71</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">132</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">38</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">37</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">29</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">35</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">36</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150">Avg. price Q3 23 (US$/MWh)</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">25</TD>
    <TD STYLE="color: #4F5150; text-align: center">31</TD>
    <TD STYLE="color: #4F5150; text-align: center">8</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">71</TD>
    <TD STYLE="color: #4F5150; text-align: center">68</TD>
    <TD STYLE="color: #4F5150; text-align: center">69</TD>
    <TD STYLE="color: #4F5150; text-align: center">69</TD>
    <TD STYLE="color: #4F5150; text-align: center">80</TD>
    <TD STYLE="color: #4F5150; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">34</TD>
    <TD STYLE="color: #4F5150; text-align: center">16</TD>
    <TD STYLE="color: #4F5150; text-align: center">85</TD>
    <TD STYLE="color: #4F5150; text-align: center">43</TD>
    <TD STYLE="color: #4F5150; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; text-align: center">46</TD>
    <TD STYLE="color: #4F5150; text-align: center">35</TD>
    <TD STYLE="color: #4F5150; text-align: center">31</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">39</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">38</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #4F5150; font-weight: bold">Avg. gross margin Q3 24 (US$/MWh)</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">5</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">11</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">5</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">48</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">50</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">50</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">60</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">59</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">25</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">16</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">34</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">17</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">51</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">138</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">19</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">1</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">24</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">22</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">23</TD></TR>
  <TR STYLE="border-bottom: rgb(95,96,98) 2.25pt solid; vertical-align: middle">
    <TD STYLE="color: #4F5150">Avg. gross margin Q3 23 (US$/MWh)</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">(10)</TD>
    <TD STYLE="color: #4F5150; text-align: center">12</TD>
    <TD STYLE="color: #4F5150; text-align: center">4</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; text-align: center">57</TD>
    <TD STYLE="color: #4F5150; text-align: center">42</TD>
    <TD STYLE="color: #4F5150; text-align: center">64</TD>
    <TD STYLE="color: #4F5150; text-align: center">64</TD>
    <TD STYLE="color: #4F5150; text-align: center">69</TD>
    <TD STYLE="color: #4F5150; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">23</TD>
    <TD STYLE="color: #4F5150; text-align: center">12</TD>
    <TD STYLE="color: #4F5150; text-align: center">24</TD>
    <TD STYLE="color: #4F5150; text-align: center">8</TD>
    <TD STYLE="color: #4F5150; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; text-align: center">na</TD>
    <TD STYLE="color: #4F5150; text-align: center">23</TD>
    <TD STYLE="color: #4F5150; text-align: center">9</TD>
    <TD STYLE="color: #4F5150; text-align: center">26</TD>
    <TD STYLE="color: #4F5150; font-weight: bold; text-align: center">23</TD>
    <TD STYLE="color: #4F5150; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">23</TD></TR>
  </TABLE>
<P STYLE="font: 9pt/105% Times New Roman, Times, Serif; margin: 0 0 3pt; color: #5F6062"><FONT STYLE="font-family: Verdana"></FONT></P>

<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 0 4.55pt 0 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>Note:
</B>Gross margin before amortization and depreciation <B>1</B> Fully owned by Pampa from August 2022 to July 2023. <B>2</B> Progressive
commissioning: 13.5 MW (Jun-24), 31.5 MW (Jul-24), 18 MW (Aug-24), 31,5 MW (Sep-24) and 18 MW (Oct-24). <B>3</B> Co-operated by Pampa
(50% equity stake).</FONT></P>

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

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

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

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

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


<!-- Field: Page; Sequence: 22; Options: NewSection; Value: 22 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 0 0 12pt 35.3pt; text-align: justify; text-indent: -35.3pt; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>4.2
Production in the main oil and gas blocks</B></FONT></P>

<P STYLE="font: 14pt/105% Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 9pt Verdana, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD ROWSPAN="2" STYLE="color: white; border-bottom: white 1.5pt solid; text-align: left">In kboe/day at ownership</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 1.5pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">Nine-month period</TD>
    <TD ROWSPAN="2" STYLE="color: white; font-weight: bold; border-bottom: white 1.5pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: white; font-weight: bold; border-bottom: white 0.5pt solid; text-align: center">Third quarter</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #1A458C">
    <TD STYLE="color: white; border-bottom: white 1.5pt solid; text-align: center">2024</TD>
    <TD STYLE="color: white; border-bottom: white 1.5pt solid; text-align: center">2023</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: white 1.5pt solid; text-align: center">Variation</TD>
    <TD STYLE="color: white; border-bottom: white 1.5pt solid; text-align: center">2024</TD>
    <TD STYLE="color: white; border-bottom: white 1.5pt solid; text-align: center">2023</TD>
    <TD STYLE="color: white; font-style: italic; border-bottom: white 1.5pt solid; text-align: center">Variation</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #939393">
    <TD STYLE="color: white; font-weight: bold; width: 43%">Gas</TD>
    <TD STYLE="color: white; font-weight: bold; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center; width: 9%">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center; width: 9%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">El Mangrullo</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">48.3</TD>
    <TD STYLE="color: #5F6062; text-align: center">38.4</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+26%</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">47.0</TD>
    <TD STYLE="color: #5F6062; text-align: center">43.8</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+7%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">R&iacute;o Neuqu&eacute;n</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">9.5</TD>
    <TD STYLE="color: #5F6062; text-align: center">9.2</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+3%</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">9.8</TD>
    <TD STYLE="color: #5F6062; text-align: center">9.6</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+2%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">Sierra Chata</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">19.0</TD>
    <TD STYLE="color: #5F6062; text-align: center">13.4</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+42%</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">23.4</TD>
    <TD STYLE="color: #5F6062; text-align: center">19.8</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+18%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">Rinc&oacute;n del Mangrullo<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>1</SUP></FONT></TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.3</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.5</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-14%</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.1</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.4</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-21%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">Others</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.8</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.1</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-30%</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.8</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.0</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-27%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: left">Total gas at working interest</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: #5F6062 0.5pt solid; font-weight: bold; border-bottom: #5F6062 0.5pt solid; text-align: center">78.8</TD>
    <TD STYLE="border-top: #5F6062 0.5pt solid; font-weight: bold; border-bottom: #5F6062 0.5pt solid; text-align: center">63.5</TD>
    <TD STYLE="border-top: #5F6062 0.5pt solid; font-weight: bold; font-style: italic; border-bottom: #5F6062 0.5pt solid; text-align: center">+24%</TD>
    <TD STYLE="border-top: #5F6062 0.5pt solid; font-weight: bold; border-bottom: #5F6062 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: #5F6062 0.5pt solid; font-weight: bold; border-bottom: #5F6062 0.5pt solid; text-align: center">82.1</TD>
    <TD STYLE="border-top: #5F6062 0.5pt solid; font-weight: bold; border-bottom: #5F6062 0.5pt solid; text-align: center">75.7</TD>
    <TD STYLE="border-top: #5F6062 0.5pt solid; font-weight: bold; font-style: italic; border-bottom: #5F6062 0.5pt solid; text-align: center">+8%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle; background-color: #939393">
    <TD STYLE="color: white; font-weight: bold">Oil</TD>
    <TD STYLE="color: white; 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; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="color: white; 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; font-style: italic; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">El Tordillo<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>2</SUP></FONT></TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.6</TD>
    <TD STYLE="color: #5F6062; text-align: center">2.1</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-22%</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.6</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.8</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-8%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">Gobernador Ayala</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.1</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.1</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-8%</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.0</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.1</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-8%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">Rinc&oacute;n de Aranda</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.9</TD>
    <TD STYLE="color: #5F6062; text-align: center">-</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">na</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.2</TD>
    <TD STYLE="color: #5F6062; text-align: center">-</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">na</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">Associated oil<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 9pt; font-style: normal; font-weight: 400; color: #5F6062"><SUP>3</SUP></FONT></TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.3</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.1</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+21%</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.3</TD>
    <TD STYLE="color: #5F6062; text-align: center">1.1</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">+19%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">Others</TD>
    <TD STYLE="padding-left: 21px; color: #5F6062; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.2</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.6</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-70%</TD>
    <TD STYLE="color: #5F6062; text-align: center">&nbsp;</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.2</TD>
    <TD STYLE="color: #5F6062; text-align: center">0.6</TD>
    <TD STYLE="color: #5F6062; font-style: italic; text-align: center">-75%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #5F6062; font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: left">Total gas at working interest</TD>
    <TD STYLE="font-weight: bold; border-top: #5F6062 0.5pt solid; border-bottom: #5F6062 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: #5F6062 0.5pt solid; font-weight: bold; border-bottom: #5F6062 0.5pt solid; text-align: center">5.0</TD>
    <TD STYLE="border-top: #5F6062 0.5pt solid; font-weight: bold; border-bottom: #5F6062 0.5pt solid; text-align: center">4.9</TD>
    <TD STYLE="border-top: #5F6062 0.5pt solid; font-weight: bold; font-style: italic; border-bottom: #5F6062 0.5pt solid; text-align: center">+2%</TD>
    <TD STYLE="border-top: #5F6062 0.5pt solid; font-weight: bold; border-bottom: #5F6062 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: #5F6062 0.5pt solid; font-weight: bold; border-bottom: #5F6062 0.5pt solid; text-align: center">5.4</TD>
    <TD STYLE="border-top: #5F6062 0.5pt solid; font-weight: bold; border-bottom: #5F6062 0.5pt solid; text-align: center">4.7</TD>
    <TD STYLE="border-top: #5F6062 0.5pt solid; font-weight: bold; font-style: italic; border-bottom: #5F6062 0.5pt solid; text-align: center">+16%</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left">Total</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; font-weight: bold; border-bottom: Black 1pt solid; text-align: center">83.8</TD>
    <TD STYLE="border-top: Black 1pt solid; font-weight: bold; border-bottom: Black 1pt solid; text-align: center">68.5</TD>
    <TD STYLE="border-top: Black 1pt solid; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid; text-align: center">+22%</TD>
    <TD STYLE="text-align: center; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; font-weight: bold; border-bottom: Black 1pt solid; text-align: center">87.5</TD>
    <TD STYLE="border-top: Black 1pt solid; font-weight: bold; border-bottom: Black 1pt solid; text-align: center">80.4</TD>
    <TD STYLE="border-top: Black 1pt solid; font-weight: bold; font-style: italic; border-bottom: Black 1pt solid; text-align: center">+9%</TD></TR>
  </TABLE>
<P STYLE="font: 14pt/105% Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"></FONT></P>

<P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 0 62.1pt 3pt 0; text-align: justify; color: #5F6062"><FONT STYLE="font-family: Verdana"><B>Note</B>:
Production in Argentina. <B>1</B> It does not include shale formation. <B>2</B> It includes the La Tapera &#8211; Puesto Quiroga block.
<B>3</B> From gas fields.</FONT></P>

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

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

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

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

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

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

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

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

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


<!-- Field: Page; Sequence: 23; Options: NewSection; Value: 23 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 16pt/105% Times New Roman, Times, Serif; margin: 0; color: #0081C6"><FONT STYLE="font-family: Verdana"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 16pt/105% Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 0.25in; margin-left: 0pt; color: #0081C6"><FONT STYLE="font-family: Verdana"><B>5.
Glossary of terms</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #20396D">
    <TD STYLE="width: 21%; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: white; line-height: 105%"><B>Term</B></FONT></TD>
    <TD STYLE="width: 79%; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: white; line-height: 105%"><B>Definition</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: #F2F2F2 1pt solid; border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>A</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">DR/ADS</FONT></TD>
    <TD STYLE="border-top: #F2F2F2 1pt solid; border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">American
    Depositary Receipt</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">AR$</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Argentine
    Pesos</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>B</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">bl</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Barrel</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">BCRA</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%"><I>Banco
    Central de la Rep&uacute;blica Argentina </I>(Argentina Central Bank)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Boe</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Barrels
    of oil equivalent</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">ByMA</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%"><I>Bolsas
    y Mercados Argentinos </I>(Buenos Aires Stock Exchange)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>C</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">AMMESA</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%"><I>Compa&ntilde;&iacute;a
    Administradora del Mercado Mayorista El&eacute;ctrico S.A.</I> (Argentine Wholesale Electricity Market Clearing Company)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">CB</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Corporate
    Bonds</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">2027
    CB</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Corporate
    Bonds maturing in 2027</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">2031
    CB</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Corporate
    Bonds maturing in 2031</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">CCGT</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Combined
    Cycle</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">CNY</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Renminbi
    Chinese currency</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">CPB</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Piedra
    Buena Thermal Power Plant</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">CTBSA</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">CT
    Barrag&aacute;n S.A.</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">CTEB</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Ensenada
    Barrag&aacute;n Thermal Power Plant</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">CTG</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">G&uuml;emes
    Thermal Power Plant</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">CTGEBA</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Genelba
    Thermal Power Plant</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">CTIW</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Ingeniero
    White Thermal Power Plant</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">CTLL</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Loma
    De La Lata Thermal Power Plant</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">CTP</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Piquirenda
    Thermal Power Plant</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">CTPP</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Parque
    Pilar Thermal Power Plant</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>E</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">&amp;P</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Exploration
    and Production</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">EBITDA</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Earnings
    before interest, tax, depreciation and amortization</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">EcoEnerg&iacute;a</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">EcoEnerg&iacute;a
    Co-Generation Power Plant</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">ENARGAS</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%"><I>Ente
    Nacional Regulador del Gas </I>(National Gas Regulatory Entity)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">ENARSA</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%"><I>Energ&iacute;a
    Argentina S.A.</I></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">ENRE</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%"><I>Ente
    Nacional Regulador de la Electricidad </I>(National Electricity Regulatory Entity)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; padding-left: 0.5in; line-height: 105%; text-indent: -0.5in"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>F</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">S</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Financial
    Statements</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">FX</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Nominal
    exchange rate</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>G</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">PNK</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Presidente
    N&eacute;stor Kirchner Gas Pipeline</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">GT</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Gas
    turbine</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">GWh</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Gigawatt-hour</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>H</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">IDISA</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Diamante
    Hydro Power Plant</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">HINISA</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Los
    Nihuiles Hydro Power Plant </FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">HPPL</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Pichi
    Picun Leufu Hydro Power Plant</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0070C0; line-height: 105%"><B>I</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">FRS</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">International
    Financial Reporting Standards</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>K</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">bbl/kboe</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Thousands
    of barrels/thousands of barrels of oil equivalent</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>M</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%"><SUP>3</SUP></FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Cubic
    meter</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">MBTU</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Million
    British Thermal Units</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">MW/MWh</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Megawatt/Megawatt-hour</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>N</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">.a.</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Not
    applicable</FONT></TD></TR>
  <TR>
    <TD STYLE="line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>O/S</B></FONT></TD>
    <TD STYLE="line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Share ownership</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">OCP
    Ecuador</FONT></TD>
    <TD STYLE="border-top: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Oleoducto
    de Crudos Pesados S.A.</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>P</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">ampa
    / The Company</FONT></TD>
    <TD STYLE="border-top: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Pampa
    Energ&iacute;a S.A.</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">PEA</FONT></TD>
    <TD STYLE="border-top: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Arauco
    II Wind Farm, stage 1 and 2</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: #F2F2F2 1pt solid; border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">PEMC</FONT></TD>
    <TD STYLE="border-top: #F2F2F2 1pt solid; border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Ingeniero
    Mario Cebreiro Wind Farm</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">PEPE</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Pampa
    Energ&iacute;a Wind Farm</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">PIST</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%"><I>Punto
    de Ingreso al Sistema de Transporte </I>(System Entry Point for Transportation)</FONT></TD></TR>
  </TABLE>

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

<!-- Field: Page; Sequence: 24 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&nbsp;</TD></TR><TR><TD STYLE="text-align: right; width: 100%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: rgb(95,96,98)"><B>Pampa Energ&iacute;a</B></FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt; color: #5F6062">&#9679; Earnings release Q3 24 &#9679;</FONT> <FONT STYLE="font-family: Verdana; font-size: 8pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; border-bottom: rgb(0,129,198) 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%"><IMG SRC="image_004.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;<IMG SRC="image_005.jpg" ALT=""></TD></TR><TR><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #20396D">
    <TD STYLE="width: 21%; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: white; line-height: 105%"><B>Term</B></FONT></TD>
    <TD STYLE="width: 79%; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 8pt; color: white; line-height: 105%"><B>Definition</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 21%; border-top: #F2F2F2 1pt solid; border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Plan
    Gas</FONT></TD>
    <TD STYLE="width: 79%; border-top: #F2F2F2 1pt solid; border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Re-assurance
    and Strengthening of the Federal Hydrocarbon Production through Self-Supply, Exports, Replacement of Imports and the Expansion of
    the Transportation System to All the Country&#8217;s Hydrocarbon Basins 2023 &#8211; 2028 Plan (Executive Order No. 730/22) and the
    Argentine Natural Gas Production Promotion Plan &#8211; 2020 &#8211; 2024 Supply and Demand Scheme (Emergency Executive Order No.
    892/20 and supplementary provisions)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">POSA</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Petrobras
    Operaciones S.A.</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">PPA</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Power
    Purchase Agreement</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">PPE</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Property,
    Plant and Equipment</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>Q</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">2
    24</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Second quarter of 2024</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Q3 24/ Q3 23</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Third quarter of 2024/Third quarter of 2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>R</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">es.</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Resolution/Resolutions</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">RTI</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Comprehensive
    tariff review</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>S</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">ACDE</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%"><I>Sociedad
    Argentina de Construcci&oacute;n y Desarrollo Estrat&eacute;gico</I></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">SE</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Secretariat
    of Energy</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">SCEyM</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Secretariat
    of Energy and Mining Coordination</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">SSEE</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Subsecretariat
    of Electric Power</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">ST</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Steam
    turbine</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>T</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">GS</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Transportadora
    de Gas del Sur S.A.</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Ton</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Metric
    ton</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Transba</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid"><P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 0; color: #5F6062"><FONT STYLE="font-family: Verdana">Empresa de
    Transporte de Energ&iacute;a El&eacute;ctrica por Distribuci&oacute;n Troncal de la Provincia de Buenos Aires</FONT></P>
    <P STYLE="font: 7pt/105% Times New Roman, Times, Serif; margin: 0; color: #5F6062"><FONT STYLE="font-family: Verdana">Transba S.A.</FONT></P></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Transener</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">Compa&ntilde;&iacute;a
    de Transporte de Energ&iacute;a El&eacute;ctrica en Alta Tensi&oacute;n Transener S.A.</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #0081C6; line-height: 105%"><B>U</B></FONT><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">S$</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">U.S.
    Dollars</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">US$-link</FONT></TD>
    <TD STYLE="border-bottom: #F2F2F2 1pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">A
    security in which the underlying is linked to a US$ wholesale exchange rate</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; padding-left: 0.5in; line-height: 105%; text-indent: -0.5in"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">US$-MEP</FONT></TD>
    <TD STYLE="border-bottom: #5F6062 2.25pt solid; line-height: 105%"><FONT STYLE="font-family: Verdana; font-size: 7pt; color: #5F6062; line-height: 105%">A
    security in which the settlement uses US$ in the domestic market</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 12pt 0 0.25in"><FONT STYLE="font-family: Verdana">&nbsp;</FONT></P>








<!-- Field: Page; Sequence: 25; Options: NewSection Last; Value: 25 -->
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
