YPF (YPF) Investor presentation summary

Record-breaking performance in Argentina's energy sector

• Oil production reached a new high of 878 kbbl/d in December 2025, with a further record of 881 kbbl/d in February 2026.

• Gas production hit a record 166 Mm³/d in July 2025, marking the first national gas surplus since 2007.

• Horizontal wells tied-in at Vaca Muerta increased by 18% year-over-year, with the highest fracture count achieved.

• Energy exports are projected to exceed $30 billion per year by 2031, driven by oil and gas sector growth.

• Oil production is targeted to surpass 1.5 MBBL/d and gas production to exceed 250 MM³/d by 2031.

Macroeconomic and regulatory environment

• Country risk and inflation rates have reached their lowest levels since 2018 and 2017, respectively.

• Argentina experienced three consecutive years of GDP growth for the first time since 2008.

• Ongoing deregulation and a new incentive regime (RIGI) for large investments have attracted over $70 billion in project submissions.

Vaca Muerta: World-class shale play

• Vaca Muerta ranks 4th globally in shale oil resources (16.2 billion barrels) and 2nd in shale gas (308 TCF).

• Breakeven costs for Vaca Muerta are competitive with major U.S. shale plays.