Company: PAM
Filing Date: 2025-04-16
Form Type: 20-F
Source: 0001292814-25-001504
Chunk: 9

Company: Pampa Energy Inc.
Filing Date: 2025-04-16
Form: 20-F
Item: Item 3
Chunk 9
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 is made up of loose materials with a waterproof concrete
side. It has a total length of 1,045 m, a total height of 54 m at the deepest point of the foundation, and a crest at 480.2 m above sea
level. HPPL has an installed capacity of 285 MW, which represents 0.7% of Argentina’s installed capacity. From 2000 to 2023, HPPL’s
average annual generation was 928 GWh, with a generation record high of 1,430 GWh in 2006, and a record low of 494 GWh in 2016.

Summary of HPPL concession

HPPL’s main corporate purpose
is the generation, sale and bulk trading of electric power through the exploitation of hydroelectric systems pursuant to the following
terms and conditions:

Term. The term of the
HPPL concession agreements is 30 years, starting from August 30, 1999.

Royalty payments. Pursuant
to our concession contract and applicable laws, beginning in August 2002 we paid 1% in hydroelectric royalties, with scheduled annual
increases of 1% per year until royalties reached a cap of 12%, based upon the tariff rate applied to block sales of the electricity
sold. In addition, we pay the Argentine Government a monthly fee for the use of the water source amounting to 0.5% of the same amount
used for the calculation of hydroelectric royalties.

Contingency fund. HPPL,
along with the other Argentine hydroelectric generation companies, are obligated to make quarterly payments to a foundation that owns
and manages a contingency fund created to cover up to 80% of the difference between of the aggregate amount of potential costs relating
to any repair of the hydroelectric systems at any of the hydroelectric generation companies’ plants and U. S.$5 million that are
not covered by their respective insurance policies.

Fines and Penalties. HPPL
is subject to potential penalties and fines under the concessions that are calculated on the basis of the aggregate gross amount invoiced
for the 12-month period preceding the imposition of any such penalty. Such penalties and fines range from 0.1% to 1% (in cases of breach
of the terms of the agreement or regulations applicable to power generation, dam safety, water management, environmental protection, and
non-compliance of instructions from the ORSEP, CAMMESA, any of the regulatory authorities or the ENRE);