Arizona Tribune - Pampa Energía Announces Fiscal Year and Fourth Quarter 2025 Results

Pampa reports its financial information in US$, its functional currency. For local currency equivalents, transactional exchange rate ('FX') is applied. However, Transener and Transportadora de Gas del Sur's ('TGS') figures are adjusted for inflation as of December 31, 2025, and converted into US$ using the period-end FX. Previously reported figures remained unchanged.

Fourth quarter 2025 ('Q4 25') main results¹

Sales recorded US$507 million in Q4 25², a 16% year-on-year increase, driven by higher crude oil production at Rincón de Aranda, improved spot prices under the new Wholesale Electricity Market ('WEM') framework for our thermal units and higher gas exports to Chile, offset by lower income from the styrenics business and from units under Power Purchase Agreements ('PPAs').

Q4 25 was market by sustained shale oil growth at Rincón de Aranda and strong performance across our thermal power plants.

Note: * Price net of export duty and quality/logistic discounts.

Adjusted EBITDA³ reached US$230 million in Q4 25, a 26% year-on-year increase, mainly reflecting the growing contribution from Rincón de Aranda, the impact of the WEM's new framework in power generation, higher gas exports and stronger reforming margins. These effects were partially offset by lower contributions from PPAs and by the deconsolidation of Oleoducto de Crudos Pesados S.A. ('OCP Ecuador') within the holding, transport, and others.

Net income attributable to shareholders was US$161 million, 52% higher than Q4 24, driven by stronger operating margins and the recognition of a non-cash deferred income tax credit, as inflation outpaced the AR$ devaluation during Q4 25, offset by weaker net financial results.

¹The information is based on financial statements ('FS') prepared according to International Financial Reporting Standards ('IFRS') in force in Argentina.
²Sales from the affiliates CTBSA, Transener and TGS are excluded, shown as 'Results for participation in joint businesses and associates.'
³Consolidated adjusted EBITDA represents the flows before financial items, income tax, depreciations and amortizations, extraordinary and non-cash income and expense, equity income, and includes affiliates' EBITDA at our ownership. Further information on section 3.1.

Net debt decreased to US$801 million as of December 2025, compared to US$874 million as of September 2025, reflecting solid free cash flow generation and reduced collateral requirements.

Consolidated balance sheet
(As of December 31, 2025 and December 2024, in millions)

Consolidated income statement
(For the fiscal year and quarters ended on December 31, 2025 and 2024, in millions)

Consolidated cash flow statement
(For the fiscal year and quarters ended on December 31, 2025 and 2024, in millions)

For the full version of the Earnings Report, please visit Pampa's Investor Relations website: ri.pampa.com/en.

Information about the videoconference

There will be a videoconference to discuss Pampa's Q4 25 results on Monday, March 2, 2026, at 4:30 p.m. Eastern Standard Time/6:30 p.m. Buenos Aires Time. The hosts will be Gustavo Mariani, CEO, head of oil and gas Horacio Turri, Adolfo Zuberbühler, CFO and Lida Wang, IR & ESG Officer at Pampa.

For those interested in participating, please register here.

For further information about Pampa:

SOURCE: 1/3 Pampa Energía S.A.

View the original press release on ACCESS Newswire

T.Wright--AT