# EDGAR Filing Document

**Accession Number:** 0001469395
**File Stem:** 0001292814-26-002871
**Filing Date:** 2026-5
**Character Count:** 13464
**Document Hash:** 90e5ba6a09a654485426864d80014ad1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001292814-26-002871.hdr.sgml**: 20260507

**ACCESSION NUMBER**: 0001292814-26-002871

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260507

**DATE AS OF CHANGE**: 20260507

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pampa Energy Inc.
- **CENTRAL INDEX KEY:** 0001469395
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** C1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34429
- **FILM NUMBER:** 26952736

**BUSINESS ADDRESS:**
- **STREET 1:** MAIPU 1
- **CITY:** CITY OF BUENOS AIRES
- **STATE:** C1
- **ZIP:** C1084ABA
- **BUSINESS PHONE:** 54-11-4809-9500

**MAIL ADDRESS:**
- **STREET 1:** MAIPU 1
- **CITY:** CITY OF BUENOS AIRES
- **STATE:** C1
- **ZIP:** C1084ABA

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

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**FORM 6-K**

**REPORT OF FOREIGN ISSUER<br> PURSUANT TO RULE 13a-16 OR 15d-16 UNDER**

**SECURITIES EXCHANGE ACT OF 1934**

**For the month of May, 2026**

**(Commission File No. 001-34429),**

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**PAMPA ENERGIA S.A.<br> (PAMPA ENERGY INC.)**

**Argentina**

*(Jurisdiction of incorporation or organization)*

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**Maipú 1<br> C1084ABA<br> City of Buenos Aires<br> Argentina**

*(Address of principal executive offices)*

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(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)<br>Form 20-F ___X___ Form 40-F ______

(Indicate by check mark whether the registrant by furnishing the<br> information contained in this form is also thereby furnishing the<br> information to the Commission pursuant to Rule 12g3-2(b) under<br> the Securities Exchange Act of 1934.)<br>Yes ______ No ___X___

(If "Yes" is marked, indicate below the file number assigned to the<br> registrant in connection with Rule 12g3-2(b): 82- .)

This Form 6-K for Pampa Energía S.A. ("Pampa" or the "Company") contains:

**Exhibit 1:** [Q1 2026 RESULTS CALL](ex99-1.htm)

**<u><br> SIGNATURE</u>**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: May 6, 2026

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| | |
|:---|:---|
| **Pampa Energía S.A.** | **Pampa Energía S.A.** |
| By: | /s/ Gustavo Mariani<br>|
|  | Name: Gustavo Mariani<br> Title: Chief Executive Officer |

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**FORWARD-LOOKING STATEMENTS**

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will a ctually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

## Exhibit 99.1

Q1 2026 May 7, 2026 @ 10:00 AM EST/11:00 AM ART RESULTS CALL ThematerialthatfollowsisapresentationofgeneralbackgroundinformationaboutPampaEnergíaS.A.("Pampa"orthe"Company")asofthedateofthepresentation.Itisinformationinsummaryformanddoesnotpurporttobecomplete.Itisnotintendedtoberelieduponasadvicetopotentialinvestors.Thispresentationisstrictlyconfidentialandmaynotbedisclosedtoanyotherperson.Norepresentationorwarranty,expressorimplied,ismadeconcerning,andnorelianceshouldbeplacedon,theaccuracy,fairness,orcompletenessoftheinformationpresentedherein. Thispresentationcontainsinformationandstatementsthatareforward-lookingwithinthemeaningofSection27AoftheU.S.SecuritiesActof1933,asamended(the'SecuritiesAct')andSection21EoftheU.S.SecuritiesExchangeActof1934,asamended.Forward-lookingstatementsarestatementsthatarenothistoricalfacts.Thesestatementsareonlypredictionsbasedonourcurrentassumptions,expectationsandprojectionsaboutfutureevents.Forward-lookingstatementsmaybeidentifiedbythewords'believe','expect','anticipate','target',orsimilarexpressions.WhilePampa'smanagementbelievesthattheexpectationsreflectedinsuchforward-lookingstatementsarereasonable,investorsarecautionedthatforward-lookinginformationandstatementsaresubjecttovariousrisksanduncertainties,manyofwhicharedifficulttopredictandaregenerallybeyondthecontrolofPampa,whichcouldcauseactualresultsanddevelopmentstodiffermateriallyfromthoseexpressedin,orimpliedorprojectedby,theforward-lookinginformationandstatements.Theserisksanduncertaintiesinclude,butarenotlimitedto,changingbusiness,regulatory,politicalorothermarketconditionsinArgentinaandelsewhere,thecompletionofournewgenerationprojects,thecompletionofourdistributionandtransmissionsubsidiaries'tariffrevisionprocess,theprospectsforgrowthanticipatedbyourmanagement,andtheotherrisksanduncertaintiesdiscussedinourreportsandotherdocumentsfiledwiththeU.S.SecuritiesandExchangeCommission.Further,Pampaundertakesnoobligationtopubliclyupdateitsforward-lookingstatements,whetherasaresultofnewinformation,futureevents,orotherwise,normakesanyrepresentationorwarranty,expressedorimplied,astotheaccuracyorcompletenessoftheinformationcontainedherein,andnothingcontainedhereinis,orshallberelieduponasapromiseorrepresentationthatanysuchforwardlookingstatementswillbeachieved.Managementisnotmakingandyoushouldnotinferanyrepresentationaboutthelikelyexistenceofanyparticularfuturesetoffactsorcircumstances Thispresentationdoesnotconstituteanoffer,orinvitation,orsolicitationofanoffer,tosubscribefororpurchaseanysecurities.Neitherthispresentationnoranythingcontainedhereinshallformthebasisofanycontractorcommitmentwhatsoever.SecuritiesmaynotbeofferedorsoldintheUnitedStatesunlesstheyareregisteredorexemptfromregistrationundertheSecuritiesAct.AnyofferingofsecuritiestobemadeintheUnitedStateswillbemadebymeansofaprospectusorofferingpreparedinconnectionwithanysuchoffering Unlessotherwiseindicated,thecalculationoftheincomestatementfiguresinUS$isderivedfromthesumof:1PampaEnergiaS.A.stand-alonefinancialresultsintransactionalUS$,2powergenerationandothersubsidiariesfinancialresultsintransactionalUS$,and3thefinancialresultsofTransenerandTGS(holdingandotherssegment)affiliatesexpressedinArgentinepesosdividedbytheexchangerateattheendofperiod. ConversionsfromlocalcurrencyreportingtoUS$shouldnotbeconsideredrepresentationsthatanysuchamountshavebeen,couldhavebeenorcouldbeconvertedintoUS$atthatoratanyotherFX.Moreover,asaresultoffluctuationsintheUS$toAR$exchangerate,theexchangerateusedintheconversionmaynotbeindicativeofcurrentorfutureexchangerates. DISCLAIMER 2 114 239 RDA 163 178 371 242 Q1 25 … Q4 25 Q1 26 220 230 325 41% 35% 45% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% - 50 100 150 200 250 300 350 Q1 25 … Q4 25 Q1 26 EBITDA margin Consolidated adjusted EBITDA1 Consolidated adjusted EBITDA breakdown1,2 CapEx1 Q1 2026'S KEY TAKEAWAYSCONSOLIDATED FIGURES, IN US$ MILLION 3 Oil & Gas 50% Electricity 50% Power 44% Note:1ItincludesaffiliatesatO/S(CTEB,TransenerandTGS):inQ126US$158millioninsales,US$97millioninadjustedEBITDAandUS$44millionincapex.Salesincludethecompensationfromretail'sPlanGas.Ar.2Itdoesnotincludepureholdingandeliminations. % Q1 26 Q1 26 +36% yoy -35% qoq ✓ Rincón de Aranda +48% yoy +41% qoq ✓ Rincón de Aranda ✓ Spot ✓ Gas Crude oil prices TGS 18% TRX 7% E&P 32% Main highlights O&G ATH quarterly production @ 100.6 kbpd, +38% yoy, +24% qoq Rincón de Aranda surpassed the 20 kbpd milestone, today @ 25.3 kbpd New power framework allowing higher gas output and better spot margins Issued 200m for 3 years at 5.49% PTQ 0% 0.9 17.1 RDA 18.2 Convt'l 2.4 3.2 18.0 19.5 - 5.0 10.0 15.0 20.0 25.0 Q1 25 … Q4 25 Gas 69.5 96% 63.2 78% 81.2 81% Oil 3.2 4% 18.0 / 22% 72.7 81.2 19.5 / 19% 100.6 - 20.0 40.0 60.0 80.0 100.0 120.0 Q1 25 … Q4 25 Q1 26 45 59 56 6.9 8.0 6.1 4.5 5.5 6.5 7.5 8.5 9.5 10.5 11.5 20 25 30 35 40 45 50 55 60 65 Q1 25 … Q4 25 Q1 26 Production 41 77 104 28% 37% 42% 0% 20% 40% 60% 80% 100% 120% 140% 160% 180% 200% - 20 40 60 80 100 120 Q1 25 … Q4 25 Q1 26 EBITDA margin Lifting cost, in US$ million Crude oil production, in kbpd Adjusted EBITDA, in US$ million Production performance, in kboepd OIL AND GASQUARTER BOOSTED BY RDA AND GAS SELF-PROCUREMENT 4 ✓ Rincón de Aranda ✓ Sierra Chata El Mangrullo Non-operated blocks +155% yoy +36% qoq Per boe -11% yoy -23% qoq +38% yoy +24% qoq Q1 26 58.2 Avg Price w/hedge, in US$/bbl Price Hedge Production ✓ Rincón de Aranda 6x yoy +8% qoq 68.4 Q1 26 Q1 26 60.9 ✓ Rincón de Aranda ✓ Gas Q1 26 ✓ Rincón de Aranda ✓ Gas output Oil price Treatment, transportation and royalties 2 high-spec rigs 1 frac fleet 11 pads tied-in2 DUC2 being drilled Building infra + CPFApplied for Upstream RIGI on March 9, 2026 +US$1.5bn capex until 45kbpd plateau 1 20 25 28 45 0 15 30 45 217 286 326 330 PAD 2 PAD 7 PAD 8 PAD 9 Oil production, in kbpd RINCÓN DE ARANDA IMPROVING EFFICIENCY TOWARDS PLATEAU VMOS + CPF TPF#2 Apr-25 Dec-25 Mid-26 2027 43 wells online 6.8 6.7 8.2 8.1 8.9 PAD 2 PAD 7 PAD 8 PAD 9 PAD 10 Daily drilling rate,in meters Daily completion stages TODAY Apr-25 Feb-26 Apr-26 +52% +31% 5 Feb-26 Retail 23% 13% 22% CAMMESA 24% 59% 61% Expo 11% 9% 8% Industrial 10% 13% 8% Interco 32% 7% 2% Winter 3.0 4.0 4.4 3.0 2.9 2.0 2.5 3.0 3.5 4.0 4.5 5.0 Q2 Q3 Q4 11.8 10.7 13.8 - 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 Q1 25 … Q4 25 Q1 26 Weighted avg gas price for Pampa, in US$/MBTU 2025 = 3.7 2026 = 2.9 Destination of our gas sales Gas production, in mcmpd GASMONETAZING THE VERTICAL INTEGRATION 6 +17% yoy +28% qoq Q4 25 Q1 26 Q1 25 Q1 26 ✓ Self-supply ✓ Exports ✓ Industries Plan Gas GSA Q1 82% 72% PG 47% 68% Old capacity 70% 68% 32% Contracted 30% 32% 5,472 5,472 5,472 0 1,000 2,000 3,000 4,000 5,000 6,000 Q1 25 … Q4 25 Q1 26 Nat'l grid 84% 82% 83% PAMPA 96% 93% 91% 70% 75% 80% 85% 90% 95% 100% Q1 25 … Q4 25 Q1 26 Thermal 85% 84% 87% Hydro 8% 7% 6% Wind 7% 10% 8% 5,951 4,947 5,738 - 1,000 2,000 3,000 4,000 5,000 6,000 7,000 Q1 25 … Q4 25 Q1 26 130 111 144 61% 48% 47% 10% 30% 50% 70% 90% 110% 130% 150% - 20 40 60 80 100 120 140 160 Q1 25 … Q4 25 Q1 26 EBITDA margin Generation performance, in GWh Spot vs. contracted, in MW Adjusted EBITDA1, in US$ million POWER GENERATION THE NEW SPOT FRAMEWORK BOOSTED THE SEGMENT 7 Q1 26 Q1 26 Note:1Incl.EBITDAfromCTEBat50%O/S. +11% yoy +30% qoq -4% yoy +16% qoq ✓ Spot Hydros Outages & maintenances ✓ Thermal demand -468 bps yoy -210 bps qoq CTLL's GT04 Scheduled overhauls Thermal availability, in % of installed capacity Q1 26 90% Pampa's total availability 93% 91% Q1 26 1,091228(343)(22)(23)11677(265)1234567802004006008001, 0001,2001,400 Key cash flow figures for the Parent Company, in US$ million Q1 26 NEGATIVE FCF MAINLY DUE TO BRENT COVERAGE AMID DEVELOPMENT OF RINCÓN DE ARANDA 8 Note: This chart is an approximate evolution of the cash flow expressed in US$ million, in order to identify the most relevant figures for the convenience of the audience. Therefore, its breakdown may differ from Pampa Energía's Consolidated Financial Statements as of March 31, 2026. Cash = Cash, cash equivalents, financial assets at fair value and financial assets at amortized cost. Q1 26 FCF = US$(402) million -US$283m yoy, -US$383m qoq -US$437m yoy -US$414m qoq Cash @ Dec-25 EBITDA CapEx WK & others Debt principal, net Debt service Cash @ Mar-26 Cash yield RdA Collaterals 2025 capex payments Higher DSO Key leverage figures1 as of March 2026, in US$ million Pampa Parent Company principal debt, net of repurchases, in US$ million SOLID BALANCE SHEET TO SUPPORT MORE GROWTH 9 Note: Cash includes cash and cash equivalents, financial assets at fair value with changing results, and investments at amortizedcost. 1FX AR$1,382/US$. LTM adjusted EBITDA is as of March 2026. 2Incl. accrued financial interests. 3Affiliates CTEB, TGS and Transener are included at O/S. Leverage evolution S&P B- bb-(stand-alone) Fitch B B+ (bond rating) AAA (argLT) A1+ (argST) 1.3x 0.9x 0.6x 1.1x 1.5x 2.1x 2.2x 3.0x 2.6x 2.3x 2021 2023 2024 2025 TODAY Net leverage Gross leverage 877 8 102 211 200 410 700 450 Cash 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 AR$ US$5.49% interest rate Local Bonds 22% Int'l Bonds 75% Banks 3% % Parent CompanyConsolidated with affiliates at O/S3Debt21, 8802,262Cash & equiv.6771,078Net debt1, 2031,185LTM Adj. EBITDA8121,113Gross leverage2.3x2.0xNet leverage1.5x1.1x THANK YOU Q&A

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