YPF — YPF IR Day Presentation (company IR deck)

YPF (YPF) · 43 slides · Filed Oct 28, 2026

Every slide of this earnings presentation, with the text as published. Open the original deck ↗ · All YPF deck slides

Slide 1 — Documento: YPF-Privado

Documento: YPF-Privado APRIL 11, 2025

Slide 2 — Documento: YPF-Privado

Documento: YPF-Privado YPF IR DAY 2025 / DISCLAIMER AND FORWARD-LOOKING STATEMENTS Additional information about YPF S.A., a sociedad anónima organized under the laws of Argentina (the “Company” or “YPF”) can be found in the “Investors” section on the website at www.ypf.com. This presentation does not constitute an offer to sell or the solicitation of any offer to buy any securities of the Company, in any jurisdiction. Securities may not be offered or sold in the United States absent registration with the U.S. Securities Exchange Commission (“SEC”), the Comisión Nacional de Valores (Argentine National Securities and Exchange Commission, or “CNV”) or an exemption from such registrations. No reliance may be placed for any purpose whatsoever on the information contained in this document or on its completeness. Certain information contained in this presentation has been obtained from published sources, which may not have been independently verified or audited. No representation or warranty, express or implied, is given or will be given by or on behalf of the Company, or any of its affiliates (within the meaning of Rule 405 under the Act, “Affiliates”), members, directors, officers or employees or any other person (the “Related Parties”) as to the accuracy, completeness or fairness of the information or opinions contained in this presentation or any other material discussed verbally, and any reliance you place on them will be at your sole risk. Any opinions presented herein are based on general information gathered at the time of writing and are subject to change without notice. In addition, no responsibility, obligation or liability (whether direct or indirect, in contract, tort or otherwise) is or will be accepted by the Company or any of its Related Parties in relation to such information or opinions or any other matter in connection with this presentation or its contents or otherwise arising in connection therewith. This presentation may also include certain non-IFRS (International Financial Reporting Standards) financial measures which have not been subject to a financial audit for any period. The information and opinions contained in this presentation are provided as at the date of this presentation and are subject to verification, completion and change without notice. As from 4Q2022, the financial information in this document is expressed, unless otherwise indicated, in U.S. dollars corresponding to the functional currency of YPF. The information is based on the financial statements prepared in accordance with IFRS in force in Argentina. On the other hand, the financial information of previous periods is restated in U.S. dollars corresponding to the functional currency of YPF (in replacement of the individual financial results of YPF expressed in Argentine pesos divided by the average exchange rate for the period. This presentation includes “forward-looking statements” concerning the future. The words such as “believes,” “thinks,” “forecasts,” “expects,” “anticipates,” “intends,” “should,” “seeks,” “estimates,” “future” or similar expressions are included with the intention of identifying statements about the future. For the avoidance of doubt, any projection, guidance or similar estimation about the future or future results, performance or achievements is a forward-looking statement. Although the assumptions and estimates on which forward-looking statements are based are believed by our management to be reasonable and based on the best currently available information, such forward-looking statements are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Forward-looking statements speak only as of the date on which they were made, and we undertake no obligation to release publicly any updates or revisions to any forward-looking statements contained herein because of new information, future events or other factors. In light of these limitations, undue reliance should not be placed on forward-looking statements contained in this presentation. Further information concerning risks and uncertainties associated with these forward-looking statements and YPF’s business can be found in YPF’s public disclosures filed on EDGAR (www.sec.gov) or at the web page of the Argentine National Securities and Exchange Commission (www.argentina.gob.ar/cnv). You should not take any statement regarding past trends or activities as a representation that the trends or activities will continue in the future. Accordingly, you should not put undue reliance on these statements. This presentation is not intended to constitute and should not be construed as investment advice. Cautionary note to U.S. Investors on reserves information — Reserves estimates prepared in accordance with SEC rules and regulations may differ significantly from reserves estimates prepared in accordance with Petroleum Resources Management System (“PRMS”) guidelines. In turn, this presentation may include certain terms such as “resources,” “total organic reserves,” or other descriptions of volumes of reserves, which include quantities of oil and gas that may not meet the SEC’s definitions of proved, probable, and possible reserves, and which the SEC’s guidelines strictly prohibit YPF from including in filings with the SEC. These types of estimates do not represent, and are not intended to represent, any category of reserves based on SEC definitions, and may differ from and may not be comparable to the same or similarly-named measures used by other companies. These estimates are by their nature more speculative and would require substantial capital spending over a significant number of years to implement recovery, and accordingly are subject to substantially greater risk of not being recovered by YPF, particularly in areas or zones where there has been limited history. Actual locations drilled and quantities that may be ultimately recovered from our concessions will differ substantially. Ultimate recoveries will be dependent upon numerous factors including actual encountered geological conditions and the impact of future oil and gas pricing. U.S. investors are urged to consider closely the disclosure in our annual report on Form 20-F, File No. 001-12102 available on the SEC’s website www.sec.gov.

Open the original at slide 2 ↗

Slide 3 — IR DAY

Documento: YPF-Privado 9:30 to 10:30 PRESENTATION 01. 02. 03. 04. 05. 06. 07. 10:30 to 11:30 Q&A HORACIO MARIN CHAIRMAN & CEO SPEAKER APRIL 11, 2025 COMPANY OVERVIEW ARGENTINA MACRO VACA MUERTA YPF 4X4 2025 GUIDANCE 5-YEAR OUTLOOK FINAL REMARKS IR DAY

Open the original at slide 3 ↗

Slide 4 — IR DAY

Documento: YPF-Privado 9:30 to 10:30 PRESENTATION 10:30 to 11:30 Q&A IR DAY APRIL 11, 2025 01. 02. 03. 04. 05. 06. 07. COMPANY OVERVIEW ARGENTINA MACRO VACA MUERTA YPF 4X4 2025 GUIDANCE 5-YEAR OUTLOOK FINAL REMARKS

Open the original at slide 4 ↗

Slide 5 — RESULTS DRIVEN

Documento: YPF-Privado RESULTS DRIVEN MANAGEMENT FOCUS ON PROFITABILITY & VALUE CREATION FOR SHAREHOLDERS PURE SHALE COMPANY NEW PRODUCTION MATRIX YPF IR DAY 2025 / COMPANY OVERVIEW VERY FOCUSED EFFICIENCY PROGRAM RTIC / TOYOTA WELL / TIER 1 REFINERIES ARGENTINE NORMALIZATION PRICES MONETIZATION OF O&G EXPORTS VMOS & ARGENTINA LNG NEW ENERGIES FOCUS ON YPF 2030+ UPSTREAM MAIN GOAL

Open the original at slide 5 ↗

Slide 6 — 120

Documento: YPF-Privado UPSTREAM 257 OIL PRODUCTION 48% SHALE 50% OF ARGENTINA YPF IR DAY 2025 / COMPANY OVERVIEW KBBL/D 37.4 GAS PRODUCTION MM3/D DOWNSTREAM REFINING CAPACITY +300 KBBL/D ~14 MM3 OF LOCAL FUELS SOLD 120 KBBL/D IN VMOS (INITIAL SHIPPING STAKE) +25% OF ~28 MTPA ARGENTINA LNG PROJECT REVENUES 19 BUSD (2024) 10.5 1.5 2.9 4.4 ~1 OIL EXPORTS LOCAL FUELS NATURAL GAS AS PRODUCER EXPORTS OTHERS FULLY INTEGRATED LEADING ENERGY COMPANY IN ARGENTINA 56% OF ARGENTINA ONE OF THE LARGEST SHALE OPERATORS OUTSIDE USA O&G EXPORT PROJECTS 2024 2024 55% SHALE 2024 YPF LUZ #2 RENEWABLE POWER GENERATOR IN ARGENTINA AFFILIATE THE LARGEST OPERATOR OF VACA MUERTA 55% OIL 2024 PRODUCTION 23% GAS

Open the original at slide 6 ↗

Slide 7 — IR DAY

Open the original at slide 7 ↗

Slide 8 — MAIN DRIVERS

Documento: YPF-Privado 0 10 20 30 40 50 60 70 80 2005 2010 2015 2020 2025 09-Jan 560 0 500 1,000 1,500 2,000 2,500 3,000 Jan-23 Jul-23 Jan-24 Jul-24 Jan-25 Source: Bloomberg YPF’S STOCK PRICE MORE THAN TRIPLED IN A YEAR YPF IR DAY 2025 / ARGENTINA MACRO YPF STOCK PRICE. 2005-25 (USD) HISTORIC AVERAGE MAIN DRIVERS 01. SUCCESSFUL ECONOMIC PROGRAM 02. YPF 4X4 03. MAJOR CHANGE IN MANAGEMENT AND OBJECTIVES 04. COMMUNICATION HEADLINE INFLATION MOM [%] - 2023-25 6.0% 25.5% 2.4% 0% 5% 10% 15% 20% 25% 30% Jan-23 Jul-23 Jan-24 Jul-24 Jan-25 COUNTRY RISK PREMIUM DAILY FREQUENCY 2023-25 Source: EMBI Historical series & Indec Statistics 889 2,500

Open the original at slide 8 ↗

Slide 9 — MACRO STABILIZATION.

Documento: YPF-Privado 0 2 4 6 8 10 12 0 5 10 15 20 25 30 35 40 45 2022 2023 2024 2025 2026 2027 2028 2029 2030+ 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 2022 2023 2024 2025 2026 2027 2028 2029 2030+ O&G PRODUCTION GROWTH HAS REVERTED ENERGY BALANCE DEFICIT. USD ~40 B EXPORTS ARE EXPECTED FOR NEXT DECADE, CONTRIBUTING TO MACRO STABILIZATION. YPF IR DAY 2025 / ARGENTINA MACRO OIL AND GAS PRODUCTION AND FORECAST 2030+ MBOE/D HISTORICAL PEAK 2003 FORECAST RECORD HIGH EXPECTED IN 2025 ENERGY EXPORTS. ARGENTINA AND YPF NET BUSD FORECAST GAS OIL ARGENTINA YPF NET (RIGHT AXIS)

Open the original at slide 9 ↗

Slide 10 — IR DAY

Open the original at slide 10 ↗

Slide 11 — DESPITE EARLY

Documento: YPF-Privado - 200 400 600 800 1,000 1,200 - 10 20 30 40 YPF IR DAY 2025 DESPITE EARLY STAGE OF DEVELOPMENT, VACA MUERTA PROVED OUTSTANDING PRODUCTIVITY ESTIMATED ULTIMATE RECOVERY (OIL) BARRELS VACA MUERTA Source: Rystad. PERMIAN DELAWARE ESTIMATED ULTIMATE RECOVERY (GAS) MILLION CUBIC FEET WELLHEAD BREAKEVEN OIL PRICE VS PRODUCTION PER FOOT(1) OIL PRODUCTION BBL/D 0 200,000 400,000 600,000 800,000 1,000,000 PERMIAN MIDLAND PERMIAN DELAWARE NEW MEXICO PERMIAN DELAWARE TEXAS EAGLE FORD BAKKEN MONTNEY VACA MUERTA 0 3,000 6,000 9,000 12,000 15,000 VACA MUERTA MONTNEY EAGLE FORD HAYNESVILLE (1) It considers marginal breakeven price. Bubble size correspond to EUR. BEP calculated for 2024 wells. 5 7 9 11 13 15 17 20 24 28 32 36 40 44 48 Barrels of oil per foot Wellhead Breakeven oil price, USD per barrel VACA MUERTA PERMIAN DELAWARE DJ BASIN PERMIAN MIDLAND EAGLEFORD BAKKEN $24 PER BARREL Source: Rystad. Source: Rystad. Source: Rystad. MONTH 200,000 400,000 600,000 800,000 1,000,000 3,000 6,000 9,000 12,000 15,000 1,200 1,000

Open the original at slide 11 ↗

Slide 12 — 15.2 K

Documento: YPF-Privado 19.7 10.6 11.6 4.2 DEVELOPMENT COST LIFTING COST 41% 60% 2016 2024 2016 2024 YPF IR DAY 2025 / VACA MUERTA YPF OIL CORE-HUB (1) USD/BBL Notes: (1) Includes 4 blocks at 100%: Loma Campana, La Amarga Chica, Bandurria Sur and Aguada del Chañar. (2) Considers the range for Core-hub and South-hub. (3) Certified by DeGolyer & MacNaughton. GROSS WELL INVENTORY (3) YPF @100% NET EQUIVALENT WELL INVENTORY (3) YPF @W/I YPF OIL WELLS IN VACA MUERTA (2) 1.3 – 2.0 PEAK IP 60&90 (KBBL/D) EUR (MBBL) LATERAL LENGTH (METERS) FRAC STAGES (#) 1.2 – 1.6 ~ 3,000 50 # WELLS 15.2 K 10% DEVELOPED OIL 5.4 K 18% DEVELOPED GAS 2.6 K 9% DEVELOPED # WELLS 8.8 K 9% DEVELOPED OIL 3.4 K 14% DEVELOPED GAS 2.3 K 8% DEVELOPED OPERATED OPERATED OIL 1.0 K GAS 6.2 K NON-OPERATED NON-OPERATED OPERATED OPERATED OIL 0.3 K GAS 2.8 K NON-OPERATED NON-OPERATED OPERATOR NON-OPERATOR EXPLORATION THE LARGEST HOLDER OF INVENTORY OF WELLS IN VACA MUERTA OIL WINDOW GAS WINDOW CONDENSATE

Open the original at slide 12 ↗

Slide 13 — IR DAY

Open the original at slide 13 ↗

Slide 14 — 4X4

Documento: YPF-Privado YPF IR DAY 2025 01 02 03 04 FOCUS ON OUR MOST PROFITABLE BUSINESS VACA MUERTA ACTIVE PORTFOLIO MANAGEMENT MAXIMIZE UPSTREAM AND DOWNSTREAM EFFICIENCY ARGENTINA LNG PROJECT SHORT TERM SHORT AND MEDIUM TERM SHORT AND MEDIUM TERM MEDIUM AND LONG TERM 4X4 STRATEGIC PILLARS

Open the original at slide 14 ↗

Slide 15 — 4X4

Documento: YPF-Privado YPF IR DAY 2025 STRATEGIC PILLARS / ACHIEVEMENTS SO FAR 4X4 FOCUS ON OUR MOST PROFITABLE BUSINESS VACA MUERTA ACTIVE PORTFOLIO MANAGEMENT MAXIMIZE UPSTREAM AND DOWNSTREAM EFFICIENCY ARGENTINA LNG PROJECT #1 SHALE OIL PRODUCER & EXPORTER VMOS 100% OIL-EXPORT PIPELINE + OLDELVAL & TRANSANDIAN EXIT MATURE FIELDS + BRAZIL & CHILE AFFILIATES TRANSFORMATION INTO AN UNCONVENTIONAL COMPANY RTIC UPSTREAM & DOWNSTREAM TOYOTA WELL WELL CYCLE OPTIMIZATION +400 MUSD SAVING DOWNSTREAM SHELL STRATEGIC PARTNER ARGENTINA LNG 2 01 02 03 04 Notes: (1) Estimated and rounded figure, as of Dec-24 (1) TOLLING SYSTEM ARGENTINA LNG 1 ENI STRATEGIC PARTNER ARGENTINA LNG 3

Open the original at slide 15 ↗

Slide 16 — 4X4

Documento: YPF-Privado YPF IR DAY 2025 4X4 FOCUS ON OUR MOST PROFITABLE BUSINESS VACA MUERTA ACTIVE PORTFOLIO MANAGEMENT MAXIMIZE UPSTREAM AND DOWNSTREAM EFFICIENCY ARGENTINA LNG PROJECT SHORT TERM SHORT AND MEDIUM TERM SHORT AND MEDIUM TERM MEDIUM AND LONG TERM 01 02 03 04 STRATEGIC PILLARS / 5-YEAR PLAN

Open the original at slide 16 ↗

Slide 17 — VMON

Documento: YPF-Privado 330 540 540 540 540 100 100 100 100 100 110 110 110 110 110 ~180 ~550 +700 540 750 ~930 ~1,300 ~1,500 Dec-24 Apr-25 4Q26 3Q27 2028+ VMOS TRANSANDEAN REFINERIES OLDELVAL Notes: (1) Estimated and rounded figures; do not include the project Duplicar X. NEUQUINA BASIN’S OIL MIDSTREAM ESTIMATED CAPACITY EVOLUTION (1) KBBL/D PUNTA COLORADA PUERTO ROSALES PUESTO HERNANDEZ ALLEN BUENOS AIRES LA PAMPA MENDOZA RÍO NEGRO NEUQUÉN VMON 150 km YPF OIL PIPELINE YPF OIL PIPELINE PLAZA HUINCUL REFINERY LUJAN DE CUYO REFINERY LA PLATA REFINERY VMOC 130 km Loma Campana La Amarga Chica Bandurria Sur Aguada del Chañar LOMA CAMPANA VLCCs ~2,000 KBBL PANAMAX ~500 KBBL AFRAMAX ~750 KBBL VMOS 440 km OLDELVAL 525 km TRANSANDEAN References: VMOS (Vaca Muerta South oil pipeline); Refineries in Neuquina Basin consider processing level at Luján de Cuyo and Plaza Huincul refineries (both YPF). CAPACITY: ~115 KBBL/D CAPACITY: ~190 KBBL/D CAPACITY: ~25 KBBL/D Source: YPF’s Earnings Releases, Relevant Events and Presentations MAKING PROGRESS IN MIDSTREAM OIL EXPANSION PROJECTS YPF IR DAY 2025 / YPF 4X4

Open the original at slide 17 ↗

Slide 18 — 375

Documento: YPF-Privado 3 4 4 5 5 6 5 1 2 1 2 1 1 NET 57% 54% 54% 65% 61% 60% 59% -10% 0% 10% 20% 30% 40% 50% 60% 70% 0 1 2 3 4 5 6 7 8 9 2024 2025E 2026E 2027E 2028E 2029E 2030E 13 12 18 18 18 17 14 1 1 1 1 2 3 3 NET 60% 56% 60% 65% 59% 59% 60% -10% 0% 10% 20% 30% 40% 50% 60% 70% 0 5 10 15 20 25 30 2024 2025E 2026E 2027E 2028E 2029E 2030E 122 165 215 290 375 445 470 2024 2025E 2026E 2027E 2028E 2029E 2030E 39% 31% 20% 30% 18% 18% 7% 12% 16% 9% 6.4 K 3.7K OIL WINDOW GAS WINDOW CONDENSATE YPF IR DAY 2025 SHALE OIL 5-Y PLAN CORE HUB NORTH HUB SOUTH HUB OPERATOR NON-OPERATOR EXPLORATION Note: Company best estimates to facilitate its activity outlook to investors. However, these figures are not a guidance and are subject to market conditions. Figures are subject to rounding. (1) Certified by DeGolyer & MacNaughton. GROSS NET 5.4 K OPERATED WELL INVENTORY(1) NON- OPERATED SHALE OIL NET PRODUCTION KBBL/D 3.4 K OPERATED GROSS RIGS (% NET) GROSS FRAC FLEETS (% NET) GROSS WELLS DRILLED (% NET) SOUTH HUB NORTH HUB OTHERS CORE HUB 207 190 315 330 370 340 270 8 15 20 15 35 45 45 NET 60% 55% 59% 65% 58% 58% 58% -10% 0% 10% 20% 30% 40% 50% 60% 0 50 100 150 200 250 300 350 400 450 500 2024 2025E 2026E 2027E 2028E 2029E 2030E NON-OPERATED OPERATED NON-OPERATED OPERATED NON-OPERATED OPERATED Cum. 2025-30E Wells Drilled: 1,990

Open the original at slide 18 ↗

Slide 19 — 4X4

Documento: YPF-Privado YPF IR DAY 2025 4X4 STRATEGIC PILLARS / 5-YEAR PLAN FOCUS ON OUR MOST PROFITABLE BUSINESS VACA MUERTA ACTIVE PORTFOLIO MANAGEMENT MAXIMIZE UPSTREAM AND DOWNSTREAM EFFICIENCY ARGENTINA LNG PROJECT SHORT TERM SHORT AND MEDIUM TERM SHORT AND MEDIUM TERM MEDIUM AND LONG TERM 01 02 03 04

Open the original at slide 19 ↗

Slide 20 — MENDOZA

Documento: YPF-Privado MENDOZA MENDOZA NORTH 6 BLOCKS MENDOZA SOUTH 6 BLOCKS LLANCANELO 2 BLOCKS NEUQUÉN NEUQUEN NORTH 4 BLOCKS NEUQUEN SOUTH 3 BLOCKS CHIHUIDO – PTO. HERNANDEZ Initial conversations 2 BLOCKS SANTA CRUZ SANTA CRUZ MOU signed 10 BLOCKS RÍO NEGRO SEÑAL PICADA – PUNTA BARDA 1 BLOCK ESTACIÓN FERNANDEZ ORO 1 BLOCK RÍO NEGRO + NEUQUÉN EL TREBOL – ESCALANTE 1 BLOCK C. CENTRAL – C. PERDIDO 1 BLOCK CHUBUT TIERRA DEL FUEGO TDF NON-OPERATED 2 BLOCKS TDF OPERATED 7 BLOCKS Notes: It may increase the total number of blocks up to 55 COMPLETED 11 BLOCKS FINAL STAGE 23 BLOCKS IN PROGRESS 16 BLOCKS CHUBUT NON-OPERATED 3 BLOCKS RESTINGA ALI 1 BLOCK MENDOZA + NEUQUÉN EXIT PROGRAM MATURE FIELDS Reversal YPF IR DAY 2025 / YPF 4X4 Reversal Reversal Reversal

Open the original at slide 20 ↗

Slide 21 — 5.3

Documento: YPF-Privado 48% 64% 88% 26% 9% 1% 20% 22% 9% 5.3 5.0 5.4 2023 2024 2030E Others Downstream Conventional Shale EXIT PROGRAM MATURE FIELDS YPF IR DAY 2025 / YPF 4X4 2024 LIFTING COST USD/BOE BUSD CONV. SHALE TOTAL CONV. SHALE TOTAL TOTAL ~28 ~5 ~16 ~17 ~5 ~5 ~9 WITH MATURE FIELDS ~50% SHALE WITHOUT MATURE FIELDS ~70% SHALE PURE SHALE ~50% CONV. ~30% CONV. 100% SHALE PROCESS WITHOUT PRECEDENTS IN ARGENTINA CAPEX CAPEX REALLOCATION FOCUS ON SHALE

Open the original at slide 21 ↗

Slide 22 — 4X4

Open the original at slide 22 ↗

Slide 23 — RTIC

Documento: YPF-Privado REAL TIME INTELLIGENCE CENTER HIGHLY EFFICIENT OPERATIONS AGILE DECISIONS CENTRALIZATION REAL TIME YPF IR DAY 2025 / YPF 4X4 RTIC

Open the original at slide 23 ↗

Slide 24 — 45.5%

Documento: YPF-Privado YPF IR DAY 2025 / YPF 4X4 UPSTREAM EFFICIENCY CHALLENGE RTIC MAIN ENABLERS TOYOTA WELL BEST 40 STANDARDS 312 215 170 2023 2025E 2029E LEAD TIME TOYOTA WELL(1) DRILLING SPEED (2) RTIC 272 360 439 2023 2025E 2029E FRAC SPEED 202 260 310 2023 2025E 2029E DAYS PER PAD OF 4 WELLS Notes: (1) Considerations: PAD: 4 wells; MD: 6,200 m; LL: 3,000 m; Stages: 50; 3Csg, Hub Core; STD 1.2_1,500. (2) Since 1Q23, values have been restated according to a new criteria, calculated as total meters drilled / days of drilling. (3) Includes YPF Core-Hub (Loma Campana, La Amarga Chica, Bandurria Sur and Aguada del Chañar) and La Angostura Sur. METERS/DAY CORE-HUB # STAGES/SET PER MONTH UNCONVENTIONAL EFFICIENCY + SAVING TOYOTA WELL + RTIC (2025 – 2029) ~1,000 MUSD 5Y RESULTS LEAD TIME WELL PRODUCTION LINE (2023 – 2029) 45.5% ~200 MUSD PER YEAR (3)

Open the original at slide 24 ↗

Slide 25 — ~ 800 MUSD

Documento: YPF-Privado 2024 2025 2026 2027 2028 2029 266 + 139 MUSD NON-RECURRING 2.4 USD/BBL RECURRING ~40% MUSD RECURRING BY 2024 +90% BY 2027 ~ 800 MUSD ASPIRATIONAL RECURRING 2024-2029 ~6 USD/BBL 5 NEW REAL TIME INTELLIGENCE CENTERS BY 2026 THE FIRST ONE ALREADY INAUGURATED IN APRIL 2025 FIRST-QUARTILE PERFORMANCE BY 2027 IMPROVED COMPETITIVENESS AND MARGIN SOLOMON’S REFINING BENCHMARKING EVOLUTION TO WORLD CLASS REAL-TIME OPTIMIZATION OPEX REDUCTION MAXIMIZE ASSET AVAILABILITY AND RELIABILITY DIESEL QUALITY EVOLUTION YPF IR DAY 2025 / YPF 4X4 DOWNSTREAM EFFICIENCY CHALLENGE TOYOTA REFINERY

Open the original at slide 25 ↗

Slide 26 — 4X4

Open the original at slide 26 ↗

Slide 27 — Documento: YPF-Privado

Documento: YPF-Privado ~6 ARGENTINA MTPA (2027-2028) ~10 MTPA (2029-2030) ~12 MTPA (2028-2029) YPF IR DAY 2025 / YPF 4X4 LNG TOTAL CAPACITY ~28 MTPA LOCATION PROVINCE OF RÍO NEGRO RIGI Notes: (1) According to initial preliminary discussions under negotiation. (2) 2 nearshore FLNGs of 5 MTPA each (no tolling, own facilities) and ~580-km export-dedicated gas pipeline. (3) Excluding upstream facilities and wells. Source: YPF’s Earnings Releases, Presentations and Relevant Events. POTENTIAL OFFTAKE(1) ~50 MTPA NEW DEDICATED GAS PIPELINE 2 FLOATING UNITS COD: 2027 2 OWN FLNGs + 1 EXPORT DEDICATED GAS PIPELINE(2) 3 SUPER MAJORS AS POTENTIAL OFFTAKES 2 OWN FLNGs + 1 EXPORT DEDICATED GAS PIPELINE(2) CAPEX: ~10-12 BUSD (PROJECT FINANCE)(3) FID: MID-2026 (30-35% YPF STAKE) FID: 4Q-2025 (~25% YPF STAKE) SHELL STRATEGIC PARTNER ENI STRATEGIC PARTNER TOLLING SYSTEM ARGENTINA LNG 1 NEW BUILDS ARGENTINA LNG 2 ARGENTINA LNG 3 FID: 2025 (20-30% YPF STAKE) 3 SUPER MAJORS AS POTENTIAL OFFTAKER, AMONG OTHERS

Open the original at slide 27 ↗

Slide 28 — Documento: YPF-Privado

Documento: YPF-Privado 20 26 28 30 45 49 65 2024 2025E 2026E 2027E 2028E 2029E 2030E 5 2 4 9 8 12 10 NET 43% 48% 45% 32% 39% 40% 39% -40% -30% -20% -10% 0% 10% 20% 30% 40% 50% 0 2 4 6 8 10 12 14 2024 2025E 2026E 2027E 2028E 2029E 2030E 1 1 1 3 2 3 2 NET 42% 45% 64% 36% 36% 39% 39% 0% 10% 20% 30% 40% 50% 60% 70% 0 1 1 2 2 3 3 4 4 2024 2025E 2026E 2027E 2028E 2029E 2030E 51 34 73 162 122 191 158 NET 42% 48% 44% 32% 39% 40% 39% -200% -150% -100% -50% 0% 50% 0 50 100 150 200 2024 2025E 2026E 2027E 2028E 2029E 2030E OIL WINDOW GAS WINDOW CONDENSATE YPF IR DAY SHALE GAS 5-Y PLAN GROSS RIGS (% NET) OPERATOR NON-OPERATOR EXPLORATION Note: Company best estimates to facilitate its activity outlook to investors. However, these figures are not a guidance and are subject to market conditions. Total production subject to rounding. (1) Certified by DeGolyer & MacNaughton. SHALE GAS NET PRODUCTION MM3/D GROSS FRAC FLEETS (% NET) GROSS WELLS DRILLED (% NET) REGIONAL EXPORT FEED GAS LNG LOCAL GROSS NET OPERATED NON- OPERATED 30% 45% 70% 55% 8.8 K 5.1 K WELL INVENTORY(1) GROSS GROSS GROSS OPERATED + NON OPERATED OPERATED + NON OPERATED OPERATED + NON OPERATED Cum. 2025-30E Wells Drilled: 740

Open the original at slide 28 ↗

Slide 29 — IR DAY

Open the original at slide 29 ↗

Slide 30 — 5.0 – 5.2

Documento: YPF-Privado SHALE OIL PRODUCTION ADJ. EBITDA US$ BILLION 5.2 – 5.5 2025 GUIDANCE 4.7 CAPEX 165+ 160+ 2025 FORMER GUIDANCE 2025 UPDATED GUIDANCE 122 2024 FY US$ BILLION NET LEVERAGE RATIO NET DEBT / EBITDA 1.6x 2024 FY 1.5x – 1.6x 2025 GUIDANCE KBBL / DAY 2024 FY 2025 GUIDANCE 5.0 2024 FY 5.0 – 5.2 ~66% SHALE GUIDANCE 2025 YPF IR DAY 2025 ~190 @DEC-25 72.5 US$/BBL BRENT 80 60 72.5 EBITDA USD BN BRENT USD (BBL) 4.2 4.5 5.2 5.5 5.7 6.0 NET LEVERAGE RATIO 2.0 2.1 1.5 1.6 1.3 1.4 80 60 72.5

Open the original at slide 30 ↗

Slide 31 — 4.0

Documento: YPF-Privado 59 204 140 102 757 1,802 2,091 1,462 1,095 834 458 601 528 473 440 530 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 … 2047 International notes due 2025 Already paid notes New local bonds New XXXIV Notes Other international debt Other local debt International bonds 1,100 YPF IR DAY 2025 DEBT MATURITY PROFILE YPF RESILIANCE IN UNCERTAIN TIMES PRINCIPAL AMORTIZATION PROFILE MUSD SUSTAINABLE AND DIVERSIFIED DEBT PORTFOLIO WITH DIFFERENT FINANCING SOURCING ALTERNATIVES KEY FINANCIAL DEBT METRICS 4.0 ’24 WEIGHTED AVG. LIFE ’24 WEIGHTED AVG. COST OF DEBT 6.4% y SINCE 2024, SUCCESFULLY REOPENED DIVERSIFIED POCKETS OF LIQUIDITY PROJECT FINANCE VMOS 1.7 BUSD (CLOSING 2Q25E) LNG FID SUBJECT TO PROJECT FINANCE & PARTNERS APPROVALS YPF ~25% SHARE 5 INT’L BANKS MANDATED YPF 25/30% TARGET FINANCIALLY DRIVEN PROJECT 2,440 INT’L MARKETS MUSD 915 LOCAL BONDS 400 SYNDICATED LOANS PRUDENT & SOLID CAPITAL STRUCTURE (D|E ‘24: 38% | 62%) 91% OF 2025 INT’L MATURITIES ALREADY REFINANCED IN JAN-25 75% OF 2026 MATURITIES ARE LOCAL FINANCING 2025 NET LEVERAGE RATIO EVOLUTION 2x MAX DURING THE CLOSING OF MATURE FIELDS 1.5x EoP DRIVEN BY SHALE OIL RAMP-UP & M&A FLEX APPROACH TO INVESTMENT PLANS HIGH RESILIENCE FROM SHALE OIL GROWING EXPORT PROFILE

Open the original at slide 31 ↗

Slide 32 — IR DAY

Open the original at slide 32 ↗

Slide 33 — GROSS PRODUCTION OUTLOOK

Documento: YPF-Público Documento: YPF-Público 410385 420 525 645 770 820 2024 2025E 2026E 2027E 2028E 2029E 2030E MM3/D GROSS PRODUCTION OUTLOOK POSITIONING AS PURE SHALE PLAYER OIL (GROSS) KBBL/D CONVENTIONAL SHALE (VM) YPF IR DAY 2025 68 66 63 63 127 136 174 2024 2025E 2026E 2027E 2028E 2029E 2030E 410 385 420 525 645 770 820 425 415 400 395 800 855 1,095 55 60 105 115 115 155 170 890 860 925 1,035 1,560 1,780 2,085 2024 2025E 2026E 2027E 2028E 2029E 2030E TOTAL HYDROCARBON PRODUCTION (GROSS) KBOE/D GAS (GROSS) LNG CONVENTIONAL SHALE (VM) NGL GAS OIL Note: Company best estimates to facilitate its activity outlook to investors. However, these figures are not a guidance and are subject to market conditions.

Open the original at slide 33 ↗

Slide 34 — 1,000

Documento: YPF-Público Documento: YPF-Público 257 230 220 295 380 455 475 235 220 225 230 315 335 440 43 45 45 50 55 70 75 536 495 490 575 755 865 1,000 2024 2025E 2026E 2027E 2028E 2029E 2030E 255 230 220 295 380 450 475 2024 2025E 2026E 2027E 2028E 2029E 2030E MM3/D OIL PRODUCTION KBBL/D YPF IR DAY 2025 NGL GAS OIL GAS PRODUCTION 14% 19% 25% 39% 45% 48% 14% OIL EXPORT (%) CONVENTIONAL SHALE (VM) 37 35 36 36 51 54 70 2024 2025E 2026E 2027E 2028E 2029E 2030E LNG CONVENTIONAL SHALE (VM) 6% 7% 8% 29% 31% 40% 5% NET PRODUCTION OUTLOOK POSITIONING AS PURE SHALE PLAYER Note: Company best estimates to facilitate its activity outlook to investors. However, these figures are not a guidance and are subject to market conditions. KBOE/D TOTAL HYDROCARBON PRODUCTION GAS EXPORT (%)

Open the original at slide 34 ↗

Slide 35 — YPF 5-Y

Documento: YPF-Privado 12 6 5 5 5 5 2025E 2026E 2027E 2028E 2029E 2030E 3.6 4.5 4.5 4.6 5.2 4.1 0.9 0.7 0.7 0.8 0.5 0.5 1.0 0.8 0.9 0.7 5.0 5.6 6.4 6.5 6.8 5.4 2025E 2026E 2027E 2028E 2029E 2030E Feed Gas LNG Other Downstream Upstream YPF IR DAY 2025 YPF 5-Y CAPEX & OPEX CAPEX (1) BUSD (1) Other includes Midstream, G&E & Corporation. (2) Does not include Midstream. LIFTING & OPEX GROSS DRILLING RIGS #RIGS GROSS FRAC FLEETS #FLEETS YPF GROSS DRILLING RIGS OPERATED & NON OPERATED 13 19 19 20 20 17 2 3 2 3 4 3 2 8 5 8 6 15 23 29 28 32 26 2025E 2026E 2027E 2028E 2029E 2030E Feed Gas LNG Gas L&R Market Oil 4 6 6 7 7 6 1 1 1 1 1 2 1 2 2 5 7 8 9 10 9 2025E 2026E 2027E 2028E 2029E 2030E Feed Gas LNG Gas L&R Market Oil OPERATED + NON OPERATED OPERATED + NON OPERATED 20 20 19 20 19 19 2025E 2026E 2027E 2028E 2029E 2030E LIFTING COST UP (USD/BOE) OPEX DW(2) (USD/BBL)

Open the original at slide 35 ↗

Slide 36 — PRO-FORMA

Documento: YPF-Privado 5.3 6.2 7.8 9.4 11.0 11.1 5.0 5.5 5.4 5.6 5.9 4.7 2025E 2026E 2027E 2028E 2029E … PRO- FORMA YPF BASE CASE: SHALE OIL PLAY YPF IR DAY 2025 YPF 5-Y & PRO-FORMA FINANCIALS BUSD EBITDA CAPEX 2025E EBITDA CAPEX 2026E EBITDA CAPEX 2027E EBITDA CAPEX 2028E EBITDA CAPEX 2029E PRO-FORMA EBITDA CAPEX … EBITDA & CAPEX FCF (0.8) 0.5 1.3 2.4 3.1 4.0 2025E 2026E 2027E 2028E 2029E … PRO- FORMA Note: Company best estimates to facilitate its activity outlook to investors. However, figures are not a guidance and subject to market conditions. Pro-forma: Company representative figures at mature stage. (1) Brent at 70 USD/BBL is the base case: average of 72.5 USD/BBL (’25) & 70 USD/BBL (’26- ’29). BRENT 5Y AVERAGE 70 USD/BBL (1) EBITDA CAPEX FCF 1.5x 1.3x 0.8x 0.4x 0.1x

Open the original at slide 36 ↗

Slide 37 — SENSITIVITY

Documento: YPF-Privado 2025E 2026E 2027E 2028E 2029E … PRO- FORMA 2025E 5.0 5.5 5.4 5.6 5.9 2025E 2026E 2027E 2028E 2029E … PRO- FORMA YPF BASE CASE: SHALE OIL PLAY YPF IR DAY 2025 BRENT SENSITIVITY ANALYSIS FCF Note: Company best estimates to facilitate its activity outlook to investors. However, figures are not a guidance and subject to market conditions. Pro- forma: Company representative figures at mature stage. VACA MUERTA RESILIENCY NO CHANGE IN CAPEX PROGRAM 5.9 4.4 3.6 7.0 5.4 4.6 8.8 6.9 5.9 10.6 8.3 7.1 12.3 9.6 8.2 5.3 6.2 7.8 9.4 11.0 (0.2) (1.8) (2.6) (0.8) 1.3 (0.3) (1.2) 0.5 2.3 0.3 (0.7) 1.3 3.6 1.2 (0.1) 2.4 4.4 1.8 0.3 3.1 BRENT 70 BRENT 60 BRENT 50 BRENT 80 5-Y BRENT SENSITIVITY IN USD/BBL BUSD EBITDA & CAPEX EBITDA CAPEX 2025E EBITDA CAPEX 2026E EBITDA CAPEX 2027E EBITDA CAPEX 2028E EBITDA CAPEX 2029E 2026E 2027E 2028E 2029E

Open the original at slide 37 ↗

Slide 38 — Documento: YPF-Privado

Documento: YPF-Privado 0.4 0.5 1.0 0.1 1.0 0.8 0.9 0.5 2025E 2026E 2027E 2028E 2029E … PRO- FORMA RIGI SUPER MAJOR PARTNERS (0.3) (1.3) (1.6) (0.7) (0.7) 1.0 2025E 2026E 2027E 2028E 2029E … PRO- FORMA YPF LNG YPF IR DAY 2025 YPF 5-Y & PRO-FORMA FINANCIALS BUSD EBITDA CAPEX 2025E EBITDA CAPEX 2026E EBITDA CAPEX 2027E EBITDA CAPEX 2028E EBITDA CAPEX 2029E PRO-FORMA EBITDA CAPEX … EBITDA & CAPEX FCF Note: Company best estimates to facilitate its activity outlook to investors. However, figures are not a guidance and subject to market conditions. Pro- forma: Company representative figures at mature stage. ~7.5 USD/MBTU FINANCIALLY DRIVEN 70% PROJECT FINANCE EBITDA CAPEX FCF EBITDA & CAPEX IS UPSTREAM LNG FCF INCLUDES CAPITAL CONTRIBUTION & DIVIDEND COLLECTION FROM LNG SPV FIRST CLASS OFFTAKERS VACA MUERTA ACRES QUALITY, COMPETITIVENESS & MATERIALITY 70% PROJECT FINANCE 5 FUNDAMENTALS

Open the original at slide 38 ↗

Slide 39 — PRO-FORMA

Documento: YPF-Privado (1.1) (0.8) (0.3) 1.7 2.4 5.0 2025E 2026E 2027E 2028E 2029E … PRO- FORMA 5.3 6.2 7.8 9.9 11.4 12.1 5.0 5.6 6.4 6.5 6.8 5.2 2025E 2026E 2027E 2028E 2029E … PRO- FORMA YPF PROFORMA: SHALE OIL PLAY & LNG YPF IR DAY 2025 YPF 5-Y & PRO-FORMA FINANCIALS BUSD EBITDA CAPEX 2025E EBITDA CAPEX 2026E EBITDA CAPEX 2027E EBITDA CAPEX 2028E EBITDA CAPEX 2029E PRO-FORMA EBITDA CAPEX … EBITDA & CAPEX FCF Note: Company best estimates to facilitate its activity outlook to investors. However, figures are not a guidance and subject to market conditions. Pro-forma: Company representative figures at mature stage. (1) Brent at 70 USD/BBL is the base case: average of 72.5 USD/BBL (’25) & 70 USD/BBL (’26- ’29). BRENT 5Y AVERAGE 70 USD/BBL (1) EBITDA CAPEX FCF 1.6x 1.5x 1.2x 0.8x 0.5x

Open the original at slide 39 ↗

Slide 40 — IR DAY

Open the original at slide 40 ↗

Slide 41 — NEW ENERGIES

Documento: YPF-Privado INTEGRATED UNCONVENTIONAL COMPANY YPF IR DAY 2025 / FINAL REMARKS VOLUME & EFFICIENCIES WORLD-CLASS DOWNSTREAM PERFORMER MARKET LEADER & TIER 1 REFINERIES #1 EXPORTER OF ARGENTINA SUSTAINABLE LONG-TERM POSITIVE FCF GENERATOR NEW ENERGIES WHILE PREPARING THE COMPANY FOR THE FUTURE TOP 10 SHALE PLAYER WORLDWIDE DIVIDEND PAYER 2028+