GAS TRANSPORTER OF THE SOUTH INC

GAS TRANSPORTER OF THE SOUTH INC operates as a natural gas transporter, receiving natural gas from shippers, typically natural gas distributors, at intake points on its pipeline system. The company then transports and delivers this gas to the shipper at specified delivery points. By law and under its License, GAS TRANSPORTER OF THE SOUTH INC is prohibited from buying or selling natural gas, except for its own operational consumption. The company's pipeline system links major natural gas fields in southern and western Argentina with distributors and other gas users in those regions, as well as the greater Buenos Aires area. GAS TRANSPORTER OF THE SOUTH INC is one of two natural gas transportation operating companies serving the Argentine market, with TGN operating the northern pipeline system. Natural gas transportation revenues constituted 41% of total revenues in 2025, 36% in 2024, and 22% in 2023. In 2025, 74.2% of average daily natural gas deliveries were made under long-term firm transportation contracts. These contracts reserve and require payment for capacity regardless of actual usage. Almost all firm contracted capacity is currently subscribed at the maximum tariffs permitted by ENARGAS. In 2025, revenues from natural gas firm transportation contracts totaled Ps. 567,936 million, accounting for 81% of the Natural Gas Transportation segment's total revenues for that year. The remaining natural gas deliveries were primarily under interruptible transportation contracts with four natural gas distribution companies, power plants, and industrial customers, which are subject to available pipeline capacity.