Right-of-use Assets

12 Months Ended

Dec. 31, 2025

9.	RIGHT-OF-USE ASSETS

Lease contracts in which the Group is the lessee mainly correspond to:

Land and buildings, which include:

(i)

Reservoirs and land necessary to mount surface installations for the underground storage of natural gas, whose contracts have an average term of 4 years and establish minimum guaranteed payments based on the contractual terms and conditions.

(ii)

Permits for the use of ports and land, whose contracts have an average term of 7 years and establish minimum guaranteed payments based on the contractual terms and conditions.

Exploitation equipment and facilities, which include drilling and workover equipment and lifting pumps. These contracts with an average term of 7 years, establish minimum guaranteed payments on the basis of the availability the Group has over these assets, and variable payments calculated on the basis of a rate per unit of use (per hour or day).

Machinery and equipment, which include:

(i)

Equipment for natural gas compression and power generation, whose contracts have an average term of 6 years and establish minimum payments based on the available power, and variable payments calculated on the basis of a rate per generation unit.

(ii)

Regasification and gas liquefaction equipment, whose contracts have an average term of 4 years and establish minimum guaranteed payments based on the availability the Group has over these assets.

Gas stations, whose contracts include the lease of land and associated facilities, have an average term of 10 years and establish payments based on a given quantity of fuel.

Transportation equipment, which include:

(i)

Vessels and barges for hydrocarbon transportation, whose contracts have an average term of 3 years and establish minimum guaranteed payments based on the availability the Group has over these assets.

(ii)

Truck fleets, whose contracts have an average term of 3 years and establish variable payments estimated on the basis of a rate per unit of use (per kilometer travelled). In some cases, minimum payments are stipulated based on the availability the Group has over these assets.

The evolution of the Group’s

right-of-use

assets as of December 31, 2025, 2024 and 2023 is as follows:


	Land and buildings		Exploitation facilities and equipment		Machinery and equipment		Gas stations		Transportation equipment		Total
Cost		33		495		283		100		370		1,281
Accumulated depreciation		19		301		209		44		167		740

Balance as of December 31, 2022		14		194		74		56		203		541


Cost
Increases		13		93		169		1		128		404
Translation effect		(1)		-		-		(18)		-		(19)
Adjustment for inflation (2)		-		-		-		11		-		11
Decreases, reclassifications and other movements		(5)		(21)		(1)		-		-		(27)

Accumulated depreciation
Increases		6		119		43		9		111		288	(1)
Translation effect		(1)		-		-		(10)		-		(11)
Adjustment for inflation (2)		-		-		-		6		-		6
Decreases, reclassifications and other movements		-		(4)		-		-		-		(4)

Cost		40		567		451		94		498		1,650
Accumulated depreciation		24		416		252		49		278		1,019

Balance as of December 31, 2023		16		151		199		45		220		631


Cost
Increases		12		16		219		11		186		444
Translation effect		-		-		-		(3)		-		(3)
Adjustment for inflation (2)		1		-		-		14		-		15
Decreases, reclassifications and other movements		(1)		(15)		(59)		(2)		(11)		(88)

Accumulated depreciation
Increases		7		101		88		12		123		331	(1)
Translation effect		-		-		-		(3)		-		(3)
Adjustment for inflation (2)		1		-		-		10		-		11
Decreases, reclassifications and other movements		-		(15)		(56)		(1)		(11)		(83)

Cost		52		568		611		114		673		2,018
Accumulated depreciation		32		502		284		67		390		1,275

Balance as of December 31, 2024		20		66		327		47		283		743


Cost
Increases		-		37		40		-		139		216
Translation effect		-		-		-		(8)		-		(8)
Adjustment for inflation (2)		-		-		-		5		-		5
Decreases, reclassifications and other movements		(7)		(19)		(4)		-		(51)		(81)

Accumulated depreciation
Increases		6		35		111		11		180		343	(1)
Translation effect		-		-		-		(6)		-		(6)
Adjustment for inflation (2)		-		-		-		4		-		4
Decreases, reclassifications and other movements		(1)		(2)		-		-		-		(3)

Cost		45		586		647		111		761		2,150
Accumulated depreciation		37		535		395		76		570		1,613

Balance as of December 31, 2025		8		51		252		35		191		537

(1)

Includes

286

270

and 220 that were charged to “Depreciation of

right-of-use

assets” line in the statement of comprehensive income for the years ended December 31, 2025, 2024 and 2023, respectively, (see Note 27), and includes 57, 61 and 68 that were capitalized in “Property, plant and equipment” in the statement of financial position (see Note 8).

(2)	Corresponds to the adjustment for inflation of opening balances of right-of-use assets of subsidiaries with the peso as functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income.

Likewise, in accordance with IFRS 8,

right-of-use

assets are geographically located in Argentina.