As of October 31, 2025, Pampa’s outstanding capital stock amounts to 1,343,600,101 common shares or 53,744,004 ADRs equivalent, of one peso of nominal value and one vote per share (1 ADR equals to 25 common shares). For further information, see Buyback Programs.
The ownership of Pampa‘s shares is the following:
| Holder | Number of Shares, in Million | Number of ADRs, in Million | Share of Outstanding Capital, in % |
|---|---|---|---|
| Management1 | 308.8 | 12.4 | 23.0% |
| Free Float2 | 1,030.9 | 41.2 | 76.7% |
| Shares in treasury3 |
19.9 | 0.8 | – |
| Employee stock-based compensation plan | 3.9 | 0.2 | 0.3% |
| Total outstanding capital | 1,343.6 | 53.7 | 100.0% |
Note: All figures have been subject to rounding, so totals may not sum. 1 The management holdings based on public information as of September 30, 2025, includes direct and indirect stakes of Messrs. Marcos Marcelo Mindlin, Damián Miguel Mindlin, Gustavo Mariani and Ricardo Alejandro Torres. 2 Listed in NYSE and BYMA. 3 Updated as of October 31, 2025.
Pampa’s Capital Stock Evolution
| Period | Description | Number of Shares, in Million | Number of ADRs, in Million | |
|---|---|---|---|---|
| 2005 | November | Creation | 6.0 | 0.2 |
| 2006 | May | I capital increase | 146.0 | 5.8 |
| September | II capital increase | 446.0 | 17.8 | |
| 2007 | February | III capital increase | 1,046.0 | 41.8 |
| September | IV capital increase | 1,526.2 | 61.0 | |
| 2010 | September | I capital reduction | 1,314.3 | 52.6 |
| 2015 | December | V capital increase | 1,695.9 | 67.8 |
| 2016 | November | VI capital increase and merge with Petrobras Argentina I | 1,836.5 | 73.5 |
| 2018 | May | VII capital increase and merge with Petrobras Argentina II | 1,938.4 | 77.5 |
| August | VIII capital increase and exchange of minority holdings of Petrolera Pampa | 2,082.7 | 83.3 | |
| November | II capital reduction | 1,899.9 | 76.0 | |
| 2020 | May | III capital reduction | 1,747.9 | 69.9 |
| 2021 | June | IV capital reduction | 1,596.3 | 63.9 |
| October | V capital reduction | 1,455.5 | 58.2 | |
| VI capital reduction | 1,398.9 | 56.0 | ||
| 2022 | March | VII capital reduction | 1,386.4 | 55.5 |
| October | VIII capital reduction | 1,383.6 | 55.3 | |
| 2023 | July | IX capital reduction | 1,363.5 | 54.5 |
| Today |
As of October 31, 2025 | 1,363.5
(1,343.6 outstanding) |
54.5
(53.7 outstanding) |
|
For further information, see our History.
