Pampa Energy Inc.

The company operates in several key business areas. Its Generation business segment had an installed capacity of 5,472 MW as of December 31, 2025, which represents approximately 12% of Argentina's total installed capacity. This segment generated U.S.$ 792 million in revenue and an operating profit of U.S.$ 375 million for the fiscal year ended December 31, 2025. In Petrochemicals, the company operates two plants in Argentina, producing styrene, styrene butadiene rubber, and polystyrene. As of December 31, 2025, the company held a domestic market share of 86% for styrene, styrene butadiene rubber, and 98% for polystyrene (per Company estimates). The petrochemicals segment recorded U.S.$ 443 million in revenue and an operating loss of U.S.$ 31 million for the fiscal year ended December 31, 2025. The company also holds other interests, including a 26.9% co-controlling interest in TGS, Argentina's largest gas transportation company, which owns and operates 9,248 km of gas pipelines, a natural gas liquids processing plant (General Cerri) with a production capacity of over 1 million tons/year, and a gathering pipeline and gas treatment plant in Vaca Muerta, Neuquén province, providing unregulated midstream services. Additionally, it holds a 26.3% co-controlling interest in Transener, Argentina's leading high-voltage electric energy transmission company. Transener, which also holds a 100% interest in Transba, covered approximately 22.4 thousand kilometers of high voltage transmission lines as of December 31, 2025, representing approximately 86% of Argentina's high-voltage system. The company also has a 70% interest in Enecor S.A., an independent electricity transmission company that provides operation and maintenance services for 21 km of 132 kV double-triad electricity lines in Corrientes Province, subcontracting Transener.