Company: PAM
Filing Date: 2025-04-16
Form Type: 20-F
Source: 0001292814-25-001504
Chunk: 92

Company: Pampa Energy Inc.
Filing Date: 2025-04-16
Form: 20-F
Item: Item 16G
Chunk 92
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 of which around 2 million were allocated to the compensation of senior managers. As of the date of this
annual report, we held in treasury 3,878,939 common shares to be delivered to employees under such plan, which represents 0.3% of our
issued capital.

During fiscal years ended
December 31, 2022, 2023 and 2024, the Company delivered 0.6, 0.6 and 0.5 million, respectively, of its own shares each year as payments
under the stock compensation plan for officers and other key staff. As of the date of this report, during 2025, the Company delivered
0.5 million shares as payments under the stock compensation plan for officers and other key staff.

Compensation Agreements - Senior
Management

The Company has executed compensation
agreements with the Company’s main executives, aimed at aligning the interests of such executives with those of the Company and
its shareholders, creating value for them only to the extent that value is created for the shareholders. These agreements mainly provide
for an annual, variable and contingent compensation equivalent to, in the aggregate, to 3.6% of the Company’s annual market value
appreciation, measured in U. S. Dollars, with an annual cap of 50% of the accrued amount and 1.8% of the Company’s operating income
before interest, taxes and other non-cash items (adjusted EBITDA provision) for the period to be compensated. Accrued amounts which have
not been paid by the Company will be deferred to future fiscal periods.

The payment of the annual compensation
will be subject to the prior approval of the Shareholders’ Meeting to be held in each fiscal year.

Furthermore, Pampa will deduct
from the variable compensation, if applicable, remunerations that beneficiaries may have collected on account of bonds and/or other similar
items from subsidiaries of Pampa, proportionally to the Company’s interests in such companies.

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Compensation Policy and Compensation
Committee

The Company’s Board
of Directors approved a Compensation Policy to provide guidance on the principles pursuant to which compensation is payable to the members
of the Board of Directors of Pampa.

Within the Compensation
Policy framework, the Board of Directors created a Compensation Committee that will assist them and the shareholders in matters related
to the compensation of the members of Pampa’s Board of Directors, in compliance with the requirements and procedures