Delay and payment proposal made by CAMMESA
Buenos Aires, May 9, 2024. Pampa Energía S.A. (‘Pampa’ or the ‘Company’; NYSE: PAM; ByMA: PAMP) announces that through Res. SE No. 58/24 and No. 66/24 of May 8, 2024, an exceptional, temporary, and unique payment regime was established to balance economic transactions owed to MEM agents for December 2023, January, and February 2024. CAMMESA has been instructed to prepare and determine the amounts owed to its creditors by executing individual agreements.
Additionally, it is established that once the debt amount is settled and the agreement is signed, the receivables for December 2023 and January 2024 will be paid through the delivery of AE38 bonds (which currently trade at approximately 50% of their nominal value), with the exchange rate set at the date of the agreement’s signing. The credits for February 2024 will be paid in cash.
Consequently, with the information available to date, the Company has estimated its effects, recognizing a loss of approximately US$38 million in its financial statements for the three-month period that ended on March 31, 2024, concerning the mentioned credit.
The Company will evaluate potential courses of action once further information regarding these resolutions is available.
Finally, it is clarified that whatever decision Pampa adopts does not affect the solvency or repayment capacity of the Company’s obligations. The Company continues investing to expand its business and improve the country’s energy infrastructure.
For more information, please contact:
Gustavo Mariani – CEO
Nicolás Mindlin – CFO
Lida Wang – Investor relations and sustainability officer – investor@pampa.com
Josefina Espinoza Paz – Press officer – prensa@pampa.com
The Pampa Energía Building
Maipú 1, (C1084ABA), Buenos Aires, Argentina
Phone: +54 (11) 4344 6000