Company: PAM
Filing Date: 2025-04-16
Form Type: 20-F
Source: 0001292814-25-001504
Chunk: 35

Company: Pampa Energy Inc.
Filing Date: 2025-04-16
Form: 20-F
Item: Item 5
Chunk 35
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  other risks factors discussed under “ Item  
  3. Risk Factors.”                           
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The words “believe”,
“may”, “will”, “aim”, “estimate”, “continue”, “anticipate”, “intend”,
“expect” and similar words are intended to identify estimates and forward-looking statements. Estimates and forward-looking
statements speak only as of the date they were made, and we undertake no obligation to update or to renew any estimates and/or forward-looking
statements because of new information, future events or other factors. Estimates and forward-looking statements involve risks and uncertainties
and are not guarantees of future performance. Our future results may differ materially from those expressed in these estimates and forward-looking
statements. In light of the risks and uncertainties described above, the estimates and forward-looking statements discussed in this annual
report might not occur, and our future results and our performance may differ materially from those expressed in these forward-looking
statements due to factors including, but not limited to, those mentioned above.

   2  

  Table of Contents  

GLOSSARY

Glossary of certain terms used in this Annual Report

Unless the context indicates otherwise, the following terms have the meanings
shown below:

  “ A3”: A3 Mercados S. A. (former Mercado  

  “ ADEERA”: Asociación de                                        

  “ ADR”: American Depositary Receipt;  

  “ ADS” or “ ADSs”: American  

  “ AGEERA”: Asociación de                                     

  “ AGUERA”: Asociación Grandes                              

  “ ANSES”: National Social Security                         

  “ Anti-Money Laundering Law”: Law                                                                                                   

  “ ARCA” Federal Tax and Customs Authority                                                                 

  “ ATEERA”: Asociación de                                        

  “ Authorized Markets”: securities                                         

  “ BCRA” or “ Central Bank”: Central                                            

  “ Banco Nación”: Banco de la  

  “ BASE”: Buenos Aires Stock Exchange;  
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  “ Bases Law”: Law Nº 27,742 ( Ley                                 

  “bbl”: Barrel of crude oil;  

  “ BCL”: Business Corporation Law;  

  “ Board of Directors”: the board of  

  “boe”: Barrel of oil equivalent;  

  “ ByMA”: Argentine stock exchange                   
  and markets ( Bolsas y Mercados Argentinos S. A