Corporate Intragroup Reorganization: Merger by Absorption of Petrobras Argentina

Buenos Aires, February 16, 2017. Pampa Energía S.A. (‘Pampa‘ or the ‘Company‘; NYSE: PAM; BCBA: PAMP) informs that on the date of today, the General Extraordinary Shareholder‘s Meeting approved the merger of Pampa —as the surviving company— with Petrobras Argentina, Petrobras Energía Internacional S.A. and Albares Renovables Argentina S.A. —as the absorbed companies— in accordance with the Preliminary Merger Agreement executed on December 23, 2016 (the ‘Merger‘). The approval of the Merger was resolved by a majority vote of 99.99% of the shares with a right to vote.

Moreover, the General Extraordinary Shareholder‘s Meeting of Petrobras Argentina approved the Merger by a majority of 92.98% of the shares with a right to vote, having registered 0.16% of votes against it, 0.03% of abstentions and 6.83% of shareholders that did not participate of the Shareholders Meeting.

For further information, contact:

Gustavo Mariani – Vice-President and Co-Chief Executive Officer
Ricardo Torres – Vice-President and Co-Chief Executive Officer
Mariano Batistella -Planning, Strategy and Affiliates Executive Director
Lida Wang – Investor Relations Officer

Maipú 1, (C1084ABA), Buenos Aires, Argentina
Phone: +54 (11) 4344 6000
http://www.pampaenergia.com/ir
investor@pampaenergia.com