UNLOCKING YPF´s AND ARGENTINA´s

ENERGY FULL POTENTIAL

SEPTEMBER 2023

IN THE LAST 5 YEARS, VACA MUERTA HALTED THE DECLINE OF HYDROCARBON PRODUCTION IN ARGENTINA

OIL PRODUCTION (1)

GAS PRODUCTION (1)

KBBL/D

Conventional Production

Shale Production

MM3/D

Conventional Production

Shale Production

Regulated

Unregulated

Partially Regulated

Regulated

Unregulated

Partially Regulated

Market

Market

Market

Market

Market

Market

850

142

133

645

490

37

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

2010

2012

2014

2016

2018

2020

2022

2Q23

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

2010

2012

2014

2016

2018

2020

2022 2Q23

Note: (1) Source: IAPG. Oil production includes volumes of gasoline. Unconventional only includes shale production of the Neuquina basin.

ARGENTINA HAS A UNIQUE OPPORTUNITY TO REACH NEW PRODUCTION RECORDS BASED ON VAST RESOURCES IN VACA MUERTA AND BEYOND

(ARGENTINE RESOURCES IN BBL)

Argentina Oil Production Outlook to 2040 E [Mbbl/d]

(3)

16 B(1)

(2)

10 B

2023 E

0.65 Mbbl/d

VACA MUERTA

Wells to be drilled: ~6,500 (80%) Estimated cumulative production 2023-2040:~5.8 Bbbl

OFF-SHORE (*)

Blocks to be developed: 4 (out of 8 awarded blocks)

Estimated cumulative production

2023-2040: ~2 Bbbl

Peak 2035 E

2040 E

2.2 Mbbl/d

1.35 Mbbl/d

(1)

6.6 B

  1. Source: EIA 2013 report.
  2. Source: Company's internal expectations of project development.

PALERMO AIKE (**)

Wells to be drilled: ~1,500 (~50%) Estimated cumulative production 2023-2040: ~0.4 Bbbl

  1. Based on successful exploration results and P50 production curves. (**) Based on P50 production curves.

2023 E

2024 E

2025 E

2026 E

2027 E

2028 E

2029 E

2030 E

2031 E

2032 E

2033 E

2034 E

2035 E

2036 E

2037 E

2038 E

2039 E

2040 E

(3) Source: Company's internal outlook.

ARGENTINA RANKS SECOND IN TERMS OF SHALE GAS RESOURCES IN THE WORLD WHICH COULD BE MONETIZED THROUGH THE DEVELOPMENT OF LNG FACILITIES

(ARGENTINE RESOURCES IN TCF)

ARGENTINA NATURAL

GAS DEMAND

(Mm3/d)

Local Demand

Regional Demand

280

LNG Exports

190

308

120

140

40

2022

2030E

2040E

130

DEMAND

1.8 TCF

2.4 TCF

3.6 TCF

RESOURCES/

170 years

125 years

85 years

PRODUCTION

Source: EIA 2013 report.

PETRONAS - STRATEGIC PARTNER (49%)

+40 years of experience in the industry Partnership with YPF since 2014

25/30 MTPA IN 3 STAGES

Combining nearshore, onshore and potential offshore plants

640 Km DEDICATED GAS PIPELINE

3 pipelines of 36" from Neuquén to Bahía Blanca

MONETIZATION OF VACA MUERTA'S NAT. GAS

+1,000 wells per stage

12 tcf of resources per stage (~12% of total resources consumed in 3 stages)

BAHÍA BLANCA PORT SITE

1,500 reserved hectares

NEW REGULATORY FRAMEWORK

Expected in the coming months

GROWTH IN OIL & GAS PRODUCTION SHALL GENERATE VERY POSITIVE IMPACT ON ARGENTINA'S BALANCE OF TRADE AND GDP

ECONOMIC IMPACT

CONTRIBUTION TO GDP - HYDROCARBONS

19%

Direct

Indirect

Total

11%13%

7%

6%

4%

2022

2030E

In current prices. Indirect impact calculated based on the Input-Output Matrix.

FOREIGN CURRENCY CONTRIBUTION

ENERGY BALANCE OF TRADE*. BUSD OF 2022

Balance

Oil

17

~ +21

Gas

Fuels

Others (*)

4

3

1

0

Balance

-2

-3

-4.5

-3

2022

2030E

(*) Others include bunker, electricity, LPG, virgin naphtha, lubricants and coal.

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YPF SA published this content on 18 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 September 2023 20:40:02 UTC.