Upstream

(7)

Midstream and Downstream

LNG and Integrated Gas

New Energies

Metrogas

Metroenergía

YPF Ventures

YPF EE

CT Barragán

CDS

Central Administration and Others

AESA

YPF Digital

Held directly by YPF and indirectly through its subsidiaries.

See Note 35.c.3) “Note from ENARGAS related to YPF’s equity interest in Metrogas” section.

In December 2024, YPF together with Pan American Sur S.A., Vista Energy S.A.U. and Pampa Energía S.A. signed a shareholders’ agreement to form a new company, VMOS which main purpose is the construction of the “Vaca Muerta Sur Project”, an oil transportation infrastructure project. VMOS has granted stock options to Pluspetrol S.A., Chevron Argentina S.R.L., CDC ApS, Shell Compañía Argentina de Petróleo S.A., Shell Overseas Investments B.V., Gas y Petróleo del Neuquén S.A. and Tecpetrol S.A. During 2025, the aforementioned companies have exercised such stock options becoming shareholders of VMOS.

See Note 3.

See Note 34.d).

Additionally, the Group has a 22.36% indirect holding in capital stock through YPF EE.

In 2025, drilling of the committed exploratory well in the Charagua block in Bolivia concluded, resulting in a dry well. As of the date of issuance of these consolidated financial statements, all contractual commitments associated with said concession have been fulfilled.