Company: PAM
Filing Date: 2025-04-16
Form Type: 20-F
Source: 0001292814-25-001504
Chunk: 94

Company: Pampa Energy Inc.
Filing Date: 2025-04-16
Form: 20-F
Item: Item 16G
Chunk 94
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 a capital stock reduction through the cancellation of 20,124,225 common treasury
shares of Pampa. Consequently, our capital stock decreased to 1,363,520,380 shares.

J. P. Morgan informed
us that, as of March 31, 2025, there were 23,128,549 outstanding ADSs. As of such date, there was one registered holder of our ADSs in
the United States. Since certain of our ADSs are held by brokers or other nominees, the number of direct record holders in the United
States may not be fully indicative of the number of direct beneficial owners in the United States of our ADSs, or of where the direct
beneficial owners of such ADSs are resident. We have no information concerning holders with registered addresses in the United States
that hold our shares, which are not represented by ADSs.

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  Table of Contents  

The table below sets forth
information concerning the beneficial ownership of our common shares as of March 31, 2025:

  Name of Shareholder               Number of Shares      Percentage of our Capital Stock      Percentage of voting power  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  M anagement - C ontrol Group                                                                                             
  Marcos Marcelo Mindlin                 197,009,884                               14.45%                          14.45%  
  Gustavo Mariani                         38,378,992                                2.81%                           2.81%  
  Damián Miguel Mindlin                   38,053,720                                2.79%                           2.79%  
  Ricardo Alejandro Torres                25,766,080                                1.89%                           1.89%  
  O ther Major Shareholders                                                                                                
  ANSES (¹)                              306,958,364                               22.51%                          22.51%  
  Hidden Lake S. A.                       69,139,594                                5.07%                           5.07%  

Note: Our major shareholders
do not have different voting rights.

(1) On November
20, 2008, the Argentine Congress passed a law unifying the Argentine pension and retirement system into a system publicly administered
by the ANSES and eliminating the retirement savings system previously administered by private pension funds under the supervision of a
governmental agency. In accordance with the new law, private pension funds transferred all of