Corporate Governance Report

The Board has drawn up the following report corresponding to the degree of application of the principles set out in the Code of Corporate Governance for the fiscal year ended December 31, 2022, under the CNV Rules (Section 1, Title I, Chapter I of Part IV), by the text restated in 2013, as amended by CNV General Res. No. 797/19.

A. The Board of Directors’ functions
B. Board of Directors’ Chair and Corporate Secretary’s Office
C. Composition, nomination and succession of the Board of Directors
D. Compensation
E. Control environment
F. Ethics, integrity and compliance
G. Shareholder and stakeholder participation


(1) For further information, see Practices 22 and 23 in this Corporate Governance Report.

(2) For further information, see Section 7.2 of the 2023 Annual Report.

(3) For further information, see Practice 9 in this Corporate Governance Report.

(4) Although Pampa’s shareholders’ meetings held on April 27, 2022 and December 27, 2022 appointed 5 independent directors and 5 independent alternate directors, on September 12, 2023 and November 29, 2023, Mr. Darío Epstein and Ms. María Renata Scafati, respectively, resigned from their positions as independent directors. Moreover, on November 22 and 29, 2023, Mmes. Diana Mondino and Emilse Juárez, respectively, resigned from their positions as alternate independent directors. These resignations were approved by the Company’s Board of Directors at the meetings held on November 8, 2023, December 14, 2023 and January 4, 2024. Their replacements will be appointed at the next Annual Shareholders’ Meeting.

Glossary of Terms


Term Definition Term Definition
Board of Directors/The Board Board of Directors/The Board FS Financial Statements
Bylaws Pampa Energía’s Bylaws Government /
National Administration / Federal Government
Federal Government of the Republic of Argentina
ByMA Bolsas y Mercados Argentinos (Buenos Aires Stock Exchange) Pampa / the Company /

the Group / the Issuer

Pampa Energía S.A. and its subsidiaries
CEO Chief Executive Officer QHSE Quality, Health, Safety and Environment
CFO Chief Financial Officer Res. Resolution(s)
CMA Capital Markets Act No. 26,831 SEC Security and Exchange Commission
CNV Comisión Nacional de Valores (National Securities and Exchange Commission) Sect. Section(s)
Code Pampa’s Code of Corporate Governance