Company: PAM
Filing Date: 2025-04-16
Form Type: 20-F
Source: 0001292814-25-001504
Chunk: 103

Company: Pampa Energy Inc.
Filing Date: 2025-04-16
Form: 20-F
Item: Item 18
Chunk 103
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 the tax to the ARCA as of December 31 of each year. Although the law permits companies to recover the amounts
paid, recovery can be burdensome. In practice, companies usually bear the cost of this tax, which adversely affects their results and
does not generate any income tax deduction.

Notwithstanding, the Company
has applied for an exemption to pay the personal asset tax for the periods 2016 to 2018, in accordance with the benefits of Law 27,260.

Pursuant to the Argentine
Income Tax Law (the “ Income Tax Law”), dividends may be subject to income tax. For more information see“ Item 10.
Additional Information-Taxation”.

We did not declare any
dividends for the fiscal years ended on either December 31, 2022, 2023 or 2024.

We have a formal dividend
policy, for more information see “Item 6. Directors, Senior Management and Employees - Corporate Governance - Dividend
Policy” and“Item 10. Additional Information - Dividends. ”

Item 6. Directors, Senior Management and Employees— Corporate Governance— Dividend
Policy” and

“