# EDGAR Filing Document

**Accession Number:** 0000904851
**File Stem:** 0001193125-26-224194
**Filing Date:** 2026-5
**Character Count:** 385684
**Document Hash:** fdf2df10e9f78835aff099c65f09e078
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-224194.hdr.sgml**: 20260514

**ACCESSION NUMBER**: 0001193125-26-224194

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20260514

**FILED AS OF DATE**: 20260514

**DATE AS OF CHANGE**: 20260514

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** YPF SOCIEDAD ANONIMA
- **CENTRAL INDEX KEY:** 0000904851
- **STANDARD INDUSTRIAL CLASSIFICATION:** PETROLEUM REFINING [2911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 521612271
- **STATE OF INCORPORATION:** C1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-12102
- **FILM NUMBER:** 26979658

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** AVENIDA PTE R SAENZ 777-8 PISO
- **CITY:** BUENOS AIRES 1364 AR
- **PROVINCE COUNTRY:** C1
- **BUSINESS PHONE:** 5413267265

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** AVENIDA PTE R SAENZ 777-8 PISO
- **CITY:** BUENOS AIRES
- **PROVINCE COUNTRY:** C1
- **ZIP:** 1107

##### [**Table of Contents**](#toc)
**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER** 

**PURSUANT TO RULE 13A-16 OR 15D-16** 

**UNDER THE SECURITIES EXCHANGE ACT OF 1934** 

**For the month of May 2026** 

**Commission File Number: 001-12102**

## YPF Sociedad Anónima
**(Exact name of registrant as specified in its charter)** 

**Macacha Güemes 515** 

**C1106BKK Buenos Aires, Argentina** 

**(Address of principal executive office)** 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒ Form 40-F ☐

------

##### [**Table of Contents**](#toc)
**YPF Sociedad Anónima** 

**TABLE OF CONTENT** 

**[ITEM 1](#tx279826_2)**[YPF S.A.'s Condensed Interim Consolidated Financial Statements as of March 31, 2026 and Comparative Information (US$).](#tx279826_2)

**[ITEM 2](#tx279826_1)**[YPF S.A.'s Condensed Interim Consolidated Financial Statements as of March 31, 2026 and Comparative Information (Unaudited) (AR$).](#tx279826_1)

------

##### [**Table of Contents**](#toc)
![LOGO](g279826g26q61.jpg)

**YPF SOCIEDAD ANONIMA** 

**CONDENSED INTERIM CONSOLIDATED** 

**FINANCIAL STATEMENTS AS OF MARCH 31, 2026** 

**AND COMPARATIVE INFORMATION** 

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION** | ![LOGO](g279826g0512075808840.jpg) |

---

**CONTENT** 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Note**  | **Description** | **Page** |
|  | &nbsp;&nbsp;&nbsp; [Glossary of terms](#item2toc279826_1) | 1 |
|  | &nbsp;&nbsp;&nbsp; [Legal information](#item2toc279826_2) | 2 |
|  | &nbsp;&nbsp;&nbsp; [Condensed interim consolidated statements of financial position](#item2toc279826_3) | 3 |
|  | &nbsp;&nbsp;&nbsp; [Condensed interim consolidated statements of comprehensive income](#item2toc279826_4) | 4 |
|  | &nbsp;&nbsp;&nbsp; [Condensed interim consolidated statements of changes in shareholders' equity](#item2toc279826_5) | 5 |
|  | &nbsp;&nbsp;&nbsp; [Condensed interim consolidated statements of cash flows](#item2toc279826_6) | 7 |
|  | &nbsp;&nbsp;&nbsp; [Notes to the condensed interim consolidated financial statements:](#item2toc279826_7) |  |
| 1 | &nbsp;&nbsp;&nbsp; [General information, structure and organization of the Group's business](#item2toc279826_8) | 8 |
| 2 | &nbsp;&nbsp;&nbsp; [Basis of preparation of the condensed interim consolidated financial statements](#item2toc279826_9) | 9 |
| 3 | &nbsp;&nbsp;&nbsp; [Seasonality of operations](#item2toc279826_10) | 10 |
| 4 | &nbsp;&nbsp;&nbsp; [Acquisitions and disposals](#item2toc279826_11) | 10 |
| 5 | &nbsp;&nbsp;&nbsp; [Financial risk management](#item2toc279826_12) | 10 |
| 6 | &nbsp;&nbsp;&nbsp; [Business segment information](#item2toc279826_13) | 11 |
| 7 | &nbsp;&nbsp;&nbsp; [Financial instruments by category](#item2toc279826_14) | 15 |
| 8 | &nbsp;&nbsp;&nbsp; [Intangible assets](#item2toc279826_15) | 15 |
| 9 | &nbsp;&nbsp;&nbsp; [Property, plant and equipment](#item2toc279826_16) | 16 |
| 10 | &nbsp;&nbsp;&nbsp; [Right-of-use assets](#item2toc279826_17) | 19 |
| 11 | &nbsp;&nbsp;&nbsp; [Investments in associates and joint ventures](#item2toc279826_18) | 19 |
| 12 | &nbsp;&nbsp;&nbsp; [Assets held for sale and associated liabilities](#item2toc279826_19) | 20 |
| 13 | &nbsp;&nbsp;&nbsp; [Inventories](#item2toc279826_20) | 21 |
| 14 | &nbsp;&nbsp;&nbsp; [Other receivables](#item2toc279826_21) | 22 |
| 15 | &nbsp;&nbsp;&nbsp; [Trade receivables](#item2toc279826_22) | 22 |
| 16 | &nbsp;&nbsp;&nbsp; [Investments in financial assets](#item2toc279826_23) | 22 |
| 17 | &nbsp;&nbsp;&nbsp; [Cash and cash equivalents](#item2toc279826_24) | 23 |
| 18 | &nbsp;&nbsp;&nbsp; [Provisions](#item2toc279826_25) | 23 |
| 19 | &nbsp;&nbsp;&nbsp; [Income tax](#item2toc279826_26) | 23 |
| 20 | &nbsp;&nbsp;&nbsp; [Taxes payable](#item2toc279826_27) | 24 |
| 21 | &nbsp;&nbsp;&nbsp; [Salaries and social security](#item2toc279826_28) | 24 |
| 22 | &nbsp;&nbsp;&nbsp; [Lease liabilities](#item2toc279826_29) | 24 |
| 23 | &nbsp;&nbsp;&nbsp; [Loans](#item2toc279826_30) | 25 |
| 24 | &nbsp;&nbsp;&nbsp; [Other liabilities](#item2toc279826_31) | 27 |
| 25 | &nbsp;&nbsp;&nbsp; [Accounts payable](#item2toc279826_32) | 27 |
| 26 | &nbsp;&nbsp;&nbsp; [Revenues](#item2toc279826_33) | 27 |
| 27 | &nbsp;&nbsp;&nbsp; [Costs](#item2toc279826_34) | 29 |
| 28 | &nbsp;&nbsp;&nbsp; [Expenses by nature](#item2toc279826_35) | 30 |
| 29 | &nbsp;&nbsp;&nbsp; [Other net operating results](#item2toc279826_36) | 31 |
| 30 | &nbsp;&nbsp;&nbsp; [Net financial results](#item2toc279826_37) | 31 |
| 31 | &nbsp;&nbsp;&nbsp; [Investments in joint operations and consortiums](#item2toc279826_38) | 31 |
| 32 | &nbsp;&nbsp;&nbsp; [Shareholders' equity](#item2toc279826_39) | 32 |
| 33 | &nbsp;&nbsp;&nbsp; [Earnings per share](#item2toc279826_40) | 32 |
| 34 | &nbsp;&nbsp;&nbsp; [Contingent assets and liabilities](#item2toc279826_41) | 32 |
| 35 | &nbsp;&nbsp;&nbsp; [Contractual commitments](#item2toc279826_42) | 33 |
| 36 | &nbsp;&nbsp;&nbsp; [Main regulations](#item2toc279826_43) | 33 |
| 37 | &nbsp;&nbsp;&nbsp; [Balances and transactions with related parties](#item2toc279826_44) | 34 |
| 38 | &nbsp;&nbsp;&nbsp; [Employee benefit plans and similar obligations](#item2toc279826_45) | 36 |
| 39 | &nbsp;&nbsp;&nbsp; [Subsequent events](#item2toc279826_46) | 37 |

---

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1  |  |
| **YPF SOCIEDAD ANONIMA**<br> **CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION** | ![LOGO](g279826g0512075808840.jpg) |

---

**GLOSSARY OF TERMS** 

---

| | |
|:---|:---|
| **Term**  | **Definition** |
|  ADR | American Depositary Receipt |
|  ADS | American Depositary Share |
|  AESA | A-Evangelista S.A. |
|  AFIP | Argentine Tax Authority (Administración Federal de Ingresos Públicos) |
|  ANSES | National Administration of Social Security (Administración Nacional de la Seguridad Social) |
|  ARCA | Collection Customs and Control Agency (Agencia de Recaudación y Control Aduanero) (formerly "AFIP") |
|  Argentina LNG | Argentina LNG S.A.U. |
|  Associate | Company over which YPF has significant influence as provided for in IAS 28 "Investments in associates and joint ventures" |
|  BCRA | Central Bank of the Argentine Republic (Banco Central de la República Argentina) |
|  BNA | Bank of the Argentine Nation (Banco de la Nación Argentina) |
|  BO | Official Gazette of the Argentine Republic (Boletín Oficial de la República Argentina) |
|  CAMMESA | Compañía Administradora del Mercado Mayorista Eléctrico S.A. |
|  CAN | Northern Argentine basin (cuenca Argentina Norte) |
|  CDS | Central Dock Sud S.A. |
|  CENCH | Hydrocarbon Unconventional Exploitation Concessions |
|  CGU | Cash-generating unit |
|  CNDC | Argentine Antitrust Authority (Comisión Nacional de Defensa de la Competencia) |
|  CNV | Argentine Securities Commission (Comisión Nacional de Valores) |
|  CSJN | Argentine Supreme Court of Justice (Corte Suprema de Justicia de la Nación Argentina) |
|  CT Barragán | CT Barragán S.A. |
|  Eleran | Eleran Inversiones 2011 S.A.U. |
|  ENARGAS | Argentine Gas Regulator (Ente Nacional Regulador del Gas) |
|  ENARSA | Energía Argentina S.A. (formerly Integración Energética Argentina S.A., "IEASA") |
|  ENRE | National Electricity Regulatory Agency |
|  FOB | Free on board |
|  Gas Austral | Gas Austral S.A. |
|  GPA | Gasoducto del Pacífico (Argentina) S.A. |
|  Group | YPF and its subsidiaries |
|  IAS | International Accounting Standard |
|  IASB | International Accounting Standards Board |
|  IFRIC | IFRS Interpretations Committe |
|  IFRS | IFRS Accounting Standards |
|  INDEC | National Institute of Statistics and Census (Instituto Nacional de Estadística y Censos) |
|  IPC | Consumer Price Index (Índice de Precios al Consumidor) published by INDEC |
|  JO | Joint operation (Unión Transitoria) |
|  Joint venture | Company jointly owned by YPF as provided for in IFRS 11 "Joint arrangements" |
|  LGS | General Corporations Law (Ley General de Sociedades) No. 19,550 |
|  LNG | Liquefied natural gas |
|  LPG | Liquefied petroleum gas |
|  MEGA | Compañía Mega S.A. |
|  Metroenergía | Metroenergía S.A. |
|  Metrogas | Metrogas S.A. |
|  MINEM | Ministry of Energy and Mining (Ministerio de Energía y Minería) |
|  MLO | West Malvinas basin (cuenca Malvinas Oeste) |
|  MTN | Medium-term note |
|  NO | Negotiable obligations |
|  OLCLP | Oleoducto Loma Campana - Lago Pellegrini S.A.U. |
|  Oldelval | Oleoductos del Valle S.A. |
|  OPESSA | Operadora de Estaciones de Servicios S.A. |
|  OTA | OleoductoTrasandino (Argentina) S.A. |
|  OTAMERICA | OTAMERICA Ebytem S.A. |
|  OTC | OleoductoTrasandino (Chile) S.A. |
|  PEN | National Executive Branch (Poder Ejecutivo Nacional) |
|  Peso | Argentine peso |
|  PIST | Transportation system entry point (Punto de ingreso al sistema de transporte) |
|  Profertil | Profertil S.A. |
|  PSAR | Performance stock appreciation rights |
|  Refinor | Refinería del Norte S.A. |
|  RQT | Quinquennial Tariff Review (Revisión Quinquenal Tarifaria) |
|  RTI | Integral Tariff Review (Revisión Tarifaria Integral) |
|  RTT | Transitional Tariff Regime (Régimen Tarifario de Transición) |
|  SC Gas | SC Gas S.A.U. |
|  SE | Secretariat of Energy (Secretaría de Energía) (formerly "MINEM" and "SGE") |
|  SEC | U.S. Securities and Exchange Commission |
|  SEE | Secretariat of Electric Energy (Secretaría de Energía Eléctrica) |
|  SGE | Government Secretariat of Energy (Secretaría de Gobierno de Energía) |
|  SRH | Hydrocarbon Resources Secretariat (Secretaría de Recursos Hidrocarburíferos) |
|  SSHyC | Under-Secretariat of Hydrocarbons and Fuels (Subsecretaría de Hidrocarburos y Combustibles) |
|  Subsidiary | Company controlled by YPF as provided for in IFRS 10 "Consolidated financial statements" |
|  Sur Inversiones Energéticas | Sur Inversiones Energéticas S.A.U. |
|  Sustentator | Sustentator S.A. |
|  Termap | Terminales Marítimas Patagónicas S.A. |
|  Turnover tax | Impuesto a los ingresos brutos |
|  U.S. dollar | United States dollar |
|  UNG | Unaccounted natural gas |
|  US$ | United States dollar |
|  US$/bbl | U.S. dollar per barrel |
|  UVA | Unit of Purchasing Power |
|  VAT | Value added tax |
|  VMI | Vaca Muerta Inversiones S.A.U. |
|  VMOS | VMOS S.A. |
|  WEM | Wholesale Electricity Market |
|  YPF Chile | YPF Chile S.A. |
|  YPF EE | YPF Energía Eléctrica S.A. |
|  YPF Gas | YPF Gas S.A. |
|  YPF or the Company | YPF S.A. |
|  YPF Ventures | YPF Ventures S.A.U. |
|  Y-TEC | YPF Tecnología S.A. |
|  Y-LUZ | Y-LUZ Inversora S.A.U. controlled by YPF EE |

---

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2  |  |
| **YPF SOCIEDAD ANONIMA**<br> **CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION** | ![LOGO](g279826g0512075808840.jpg) |

---

**LEGAL INFORMATION** 

<u>Legal address</u> 

Macacha Güemes 515 - Ciudad Autónoma de Buenos Aires, Argentina.

<u>Fiscal year</u> 

No. 50 beginning on January 1, 2026.

<u>Main business of the Company</u> 

The Company's purpose shall be to perform, on its own, through third parties or in association with third parties, the survey, exploration and exploitation of liquid and/or gaseous hydrocarbon fields and other minerals, as well as the industrialization, transportation and commercialization of these products and their direct and indirect by-products, including petrochemical products, chemical products, whether derived from hydrocarbons or not, and non-fossil fuels, biofuels and their components, as well as the generation of electrical energy through the use of hydrocarbons, to which effect it may manufacture, use, purchase, sell, exchange, import or export them. It shall also be the Company's purpose the rendering, on its own, through a controlled company or in association with third parties, of telecommunications services in all forms and modalities authorized by the legislation in force after applying for the relevant licenses as required by the regulatory framework, as well as the production, industrialization, processing, commercialization, conditioning, transportation and stockpiling of grains and products derived from grains, as well as any other activity complementary to its industrial and commercial business or any activity which may be necessary to attain its object. To better achieve these purposes, it may set up, become associated with or have an interest in any public or private entity domiciled in Argentina or abroad, within the limits set forth in the Bylaws.

<u>Filing with the Public Registry of Commerce</u> 

Bylaws filed on February 5, 1991, under No. 404 of the Book 108 of Corporations, Volume A, with the Public Registry of Commerce of the Autonomous City of Buenos Aires, in charge of the Argentine Registry of Companies (Inspección General de Justicia); and Bylaws in substitution of previous Bylaws, filed on June 15, 1993, under No. 5,109 of the Book 113 of Corporations, Volume A, with the above mentioned Public Registry.

<u>Duration of the Company</u> 

Through June 15, 2093.

<u>Last amendment to the Bylaws</u> 

January 26, 2024, registered with the Public Registry of Commerce of the Autonomous City of Buenos Aires in charge of the Argentine Registry of Companies (Inspección General de Justicia) on March 15, 2024, under No. 4,735, Book 116 of Corporations. In addition, an amendment approved by the General Shareholders' Meeting on April 30, 2026, is currently in the process of being registered in the aforementioned Public Registry.

<u>Capital structure</u> 

393,312,793 shares of common stock, $10 par value and 1 vote per share.

<u>Subscribed, paid-in and authorized for stock exchange listing (in pesos)</u> 

3,933,127,930.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

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|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3  |  |
| **YPF SOCIEDAD ANONIMA**<br> **CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION**<br> **AS OF MARCH 31, 2026 AND DECEMBER 31, 2025**<br> (Amounts expressed in millions of United States dollars) | ![LOGO](g279826g0512075808840.jpg) |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Notes** | **March 31,<br>2026** | **December 31,<br>2025** |
|  **ASSETS** |  |  |  |
|  **Non-current assets** |  |  |  |
|  Intangible assets | 8 | 1073 | 1068 |
|  Property, plant and equipment | 9 | 19558 | 19085 |
|  Right-of-use assets | 10 | 609 | 537 |
|  Investments in associates and joint ventures | 11 | 1717 | 1610 |
|  Deferred income tax assets, net | 19 | 41 | 9 |
|  Other receivables | 14 | 636 | 648 |
|  Trade receivables | 15 | 6 | 5 |
|  **Total non-current assets** |  | **23640** | **22962** |
|  **Current assets** |  |  |  |
|  Assets held for sale | 12 | 957 | 1019 |
|  Inventories | 13 | 1460 | 1447 |
|  Contract assets | 26 | 5 | 3 |
|  Other receivables | 14 | 820 | 1159 |
|  Trade receivables | 15 | 1784 | 1654 |
|  Investments in financial assets | 16 | 366 | 262 |
|  Cash and cash equivalents | 17 | 1326 | 933 |
|  **Total current assets** |  | **6718** | **6477** |
|  **TOTAL ASSETS** |  | **30358** | **29439** |
|  **SHAREHOLDERS' EQUITY** |  |  |  |
|  Capital |  | 3921 | 3921 |
|  Treasury shares |  | 12 | 12 |
|  Share-based benefit plans |  | 10 | 7 |
|  Acquisition cost of treasury shares |  | (35) | (35) |
|  Share trading premiums |  | (44) | (44) |
|  Issuance premiums |  | 640 | 640 |
|  Legal reserve |  | 787 | 787 |
|  Reserve for investments |  | 6587 | 6587 |
|  Reserve for purchase of treasury shares |  | 33 | 33 |
|  Other comprehensive income |  | (193) | (338) |
|  Unappropriated retained earnings and losses |  | (352) | (756) |
|  **Shareholders' equity attributable to shareholders of the parent company** |  | **11366** | **10814** |
|  Non-controlling interest |  | 269 | 230 |
|  **TOTAL SHAREHOLDERS' EQUITY** |  | **11635** | **11044** |
|  **LIABILITIES** |  |  |  |
|  **Non-current liabilities** |  |  |  |
|  Provisions | 18 | 639 | 610 |
|  Contract liabilities | 26 | 212 | 180 |
|  Deferred income tax liabilities, net | 19 | 511 | 373 |
|  Income tax liability |  | 865 | 830 |
|  Taxes payable | 20 | 19 | 18 |
|  Salaries and social security | 21 | 98 | 63 |
|  Lease liabilities | 22 | 332 | 273 |
|  Loans | 23 | 8526 | 8226 |
|  Other liabilities | 24 | 347 | 373 |
|  Accounts payable | 25 | 6 | 6 |
|  **Total non-current liabilities** |  | **11555** | **10952** |
|  **Current liabilities** |  |  |  |
|  Liabilities directly associated with assets held for sale | 12 | 1060 | 1181 |
|  Provisions | 18 | 248 | 229 |
|  Contract liabilities | 26 | 145 | 117 |
|  Income tax liability |  | 194 | 73 |
|  Taxes payable | 20 | 350 | 217 |
|  Salaries and social security | 21 | 371 | 336 |
|  Lease liabilities | 22 | 308 | 298 |
|  Loans | 23 | 1591 | 2355 |
|  Other liabilities | 24 | 534 | 399 |
|  Accounts payable | 25 | 2367 | 2238 |
|  **Total current liabilities** |  | **7168** | **7443** |
|  **TOTAL LIABILITIES** |  | **18723** | **18395** |
|  **TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY** |  | **30358** | **29439** |

---

Accompanying notes are an integral part of these condensed interim consolidated financial statements.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4  |  |
| **YPF SOCIEDAD ANONIMA**<br> **CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME**<br> **FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2026 AND 2025**<br> (Amounts expressed in millions of United States dollars, except per share information expressed in United States dollars) | ![LOGO](g279826g0512075808840.jpg) |

---

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| | | | |
|:---|:---|:---|:---|
|  | | **For the three-month periods ended <br>March 31,** | **For the three-month periods ended <br>March 31,** |
|  |<br> **Notes** | **2026** | **2025** |
|  **<u>Net income</u>** |  |  |  |
|  Revenues | 26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4608 |
|  Costs | 27 | (3188) | (3308) |
|  **Gross profit** |  | **1758** | **1300** |
|  Selling expenses | 28 | (489) | (497) |
|  Administrative expenses | 28 | (291) | (258) |
| Exploration expenses | 28 | (20) | (30) |
|  Other net operating results | 29 | (80) | (323) |
|  **Operating profit** |  | **878** | **192** |
|  Income from equity interests in associates and joint ventures | 11 | 101 | 81 |
|  Financial income | 30 | 32 | 16 |
|  Financial costs | 30 | (304) | (285) |
|  Other financial results | 30 | (55) | 24 |
|  Net financial results | 30 | (327) | (245) |
|  **Net profit before income tax** |  | **652** | **28** |
|  Income tax | 19 | (243) | (38) |
|  **Net profit / (loss) for the period** |  | **409** | **(10)** |
|  **<u>Other comprehensive income</u>** |  |  |  |
|  *Items that may be reclassified subsequently to profit or loss:* |  |  |  |
| Translation effect from subsidiaries, associates and joint ventures |  | 51 | (38) |
| Result from net monetary position in subsidiaries, associates and joint ventures <sup>(1)</sup> |  | 128 | 84 |
|  **Other comprehensive income for the period** |  | **179** | **46** |
|  **Total comprehensive income for the period** |  | **588** | **36** |
|  **Net profit / (loss) for the period attributable to:** |  |  |  |
|  Shareholders of the parent company |  | 404 | (16) |
|  Non-controlling interest |  | 5 | 6 |
|  **Other comprehensive income for the period attributable to:** |  |  |  |
|  Shareholders of the parent company |  | 145 | 37 |
|  Non-controlling interest |  | 34 | 9 |
|  **Total comprehensive income for the period attributable to:** |  |  |  |
|  Shareholders of the parent company |  | 549 | 21 |
|  Non-controlling interest |  | 39 | 15 |
|  **Earnings per share attributable to shareholders of the parent company:** |  |  |  |
|  Basic and diluted | 33 | 1.03 | (0.04) |

---

(1) Results generated by subsidiaries, associates and joint ventures with the peso as functional currency, see Note 2.b.1) to
the annual consolidated financial statements.

Accompanying notes are an integral part of these condensed interim consolidated financial statements.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5  |  |
| **YPF SOCIEDAD ANONIMA**<br> **CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY**<br> **FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2026 AND 2025**<br> (Amounts expressed in millions of United States dollars) | ![LOGO](g279826g0512075808840.jpg) |

---

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** |
|  | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Retained earnings <sup>(4)</sup>** | **Retained earnings <sup>(4)</sup>** | **Retained earnings <sup>(4)</sup>** | **Retained earnings <sup>(4)</sup>** | **Retained earnings <sup>(4)</sup>** | **Equity attributable to** | **Equity attributable to** | |
|  | **Capital** | **Treasury<br>shares** | **Share-<br>based<br>benefit<br>plans** | **Acquisition<br>cost of<br>treasury<br>shares <sup>(2)</sup>** | **Share<br>trading<br>premiums** | **Issuance<br>premiums** | **Legal<br>reserve** | **Reserve for<br>investments** | **Reserve<br>for<br>purchase<br>of<br>treasury<br>shares** | **Other<br>comprehensive<br>income** | **Unappropriated<br>retained<br>earnings and<br>losses** | **Shareholders<br>of the parent<br>company** | **Non-controlling<br>interest** |<br>**Total<br>shareholders'<br>equity** |
| **Balance at the beginning of the fiscal year** | 3921 | 12 | 7 | (35) | (44) | 640 | 787 | 6587 | 33 | (338) | (756) | 10814 | 230 | 11044 |
| Accrual of share-based benefit plans <sup>(3)</sup> |  |  | 3 |  |  |  |  |  |  |  |  | 3 |  | 3 |
| Other comprehensive income |  |  |  |  |  |  |  |  |  | 145 |  | 145 | 34 | 179 |
| Net profit for the period |  |  |  |  |  |  |  |  |  |  | 404 | 404 | 5 | 409 |
| **Balance as of March 31, 2026** | &nbsp;&nbsp;&nbsp;&nbsp;3921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;&nbsp;6587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp;(193) <sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(352) | &nbsp;&nbsp;&nbsp;&nbsp;11366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269 | &nbsp;&nbsp;&nbsp;&nbsp;11635 |

---

(1) Includes (2,300) related to the effect of the translation of the financial statements of investments in subsidiaries,
associates and joint ventures with functional currencies other than the U.S. dollar, and 2,107 related to the recognition of the result from net monetary position of subsidiaries, associates and joint ventures with the peso as functional currency.
See Note 2.b.1) to the annual consolidated financial statements.

(2) Net of employees' income tax withholding related to the share-based benefit plans.

(3) See Note 38.

(4) Includes 35 restricted to the distribution of retained earnings as of March 31, 2026 and December 31, 2025,
respectively. See Note 31 to the annual consolidated financial statements.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6  |  |
| **YPF SOCIEDAD ANONIMA**<br> **CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY**<br> **FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2026 AND 2025 (cont.)**<br> (Amounts expressed in millions of United States dollars) | ![LOGO](g279826g0512075808840.jpg) |

---

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** |
|  | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Retained earnings <sup>(4)</sup>** | **Retained earnings <sup>(4)</sup>** | **Retained earnings <sup>(4)</sup>** | **Retained earnings <sup>(4)</sup>** | **Retained earnings <sup>(4)</sup>** | **Equity attributable to** | **Equity attributable to** | |
|  | **Capital** | **Treasury<br>shares** | **Share-<br>based<br>benefit<br>plans** | **Acquisition<br>cost of<br>treasury<br>shares <sup>(2)</sup>** | **Share<br>trading<br>premiums** | **Issuance<br>premiums** | **Legal<br>reserve** | **Reserve for<br>investments** | **Reserve<br>for<br>purchase<br>of<br>treasury<br>shares** | **Other<br>comprehensive<br>income** | **Unappropriated<br>retained<br>earnings and<br>losses** | **Shareholders<br>of the parent<br>company** | **Non-controlling<br>interest** |<br>**Total<br>shareholders'<br>equity** |
| **Balance at the beginning of the fiscal year** | 3922 | 11 | 3 | (28) | (42) | 640 | 787 | 4236 | 36 | (331) | 2418 | 11652 | 218 | 11870 |
| Accrual of share-based benefit plans <sup>(3)</sup> |  |  | 2 |  |  |  |  |  |  |  |  | 2 |  | 2 |
| Other comprehensive income |  |  |  |  |  |  |  |  |  | 46 | (9) | 37 | 9 | 46 |
| Net (loss) / profit for the period |  |  |  |  |  |  |  |  |  |  | (16) | (16) | 6 | (10) |
| **Balance as of March 31, 2025** | &nbsp;&nbsp;&nbsp;&nbsp;3922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | 5 | (28) | (42) | 640 | 787 | 4236 | 36 | (285) <sup>(1)</sup> | 2393 | 11675 | 233 | 11908 |

---

(1) Includes (2,005) related to the effect of the translation of the financial statements of investments in subsidiaries,
associates and joint ventures with functional currencies other than the U.S. dollar, and 1,720 related to the recognition of the result from net monetary position of subsidiaries, associates and joint ventures with the peso as functional currency.
See Note 2.b.1) to the annual consolidated financial statements.

(2) Net of employees' income tax withholding related to the share-based benefit plans.

(3) See Note 38.

(4) Includes 70 restricted to the distribution of retained earnings as of March 31, 2025 and December 31, 2024,
respectively. See Note 31 to the annual consolidated financial statements.

Accompanying notes are an integral part of these condensed interim consolidated financial statements.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW**<br> **FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2026 AND 2025**<br> (Amounts expressed in millions of United States dollars) | ![LOGO](g279826g0512075808840.jpg) |

---

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended<br>March 31,** | **For the three-month periods ended<br>March 31,** |
|  | **2026** | **2025** |
|  **Cash flows from operating activities** |  |  |
|  Net profit / (loss) | 409 | (10) |
|  *Adjustments to reconcile net profit to cash flows provided by operating activities:* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income from equity interests in associates and joint ventures | (101) | (81) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation of property, plant and equipment | 653 | 718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of intangible assets | 17 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation of right-of-use assets | 73 | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retirement of property, plant and equipment and intangible assets and consumption of materials | 56 | 99 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charge on income tax | 243 | 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase in provisions | 102 | 261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effect of changes in exchange rates, interest and others | 291 | 243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share-based benefit plans | 3 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Result from sale of assets | (4) | (14) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Result from changes in fair value of assets held for sale | (14) | 200 |
|  *Changes in assets and liabilities:* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trade receivables | (58) | (14) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other receivables | 1 | (224) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inventories | (5) | (69) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts payable | 81 | (282) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taxes payable | 123 | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Salaries and social security | 64 | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | (80) | (104) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease in provisions due to payment/use | (26) | (59) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract assets | (2) | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract liabilities | 63 | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from collection of profit loss insurance |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income tax payments | (24) | (8) |
|  **Net cash flows from operating activities <sup>(1) (2)</sup>** | **1865** | **850** |
|  **Investing activities: <sup>(3)</sup>** |  |  |
|  Acquisition of property, plant and equipment and intangible assets | (1090) | (1205) |
|  Additions of assets held for sale | (4) | (33) |
|  Contributions and acquisitions of interests in associates and joint ventures | (34) | (71) |
|  Acquisitions from business combinations net of cash and cash equivalents |  | (243) |
|  Proceeds from sales of financial assets | 49 | 97 |
|  Payments from purchase of financial assets | (145) |  |
|  Interests received from financial assets | 1 | 1 |
|  Proceeds from concessions, assignment agreements and sale of assets | 514 | 71 |
|  **Net cash flows used in investing activities** | **(709)** | **(1383)** |
|  **Financing activities: <sup>(3)</sup>** |  |  |
|  Payments of loans | (1173) | (1087) |
|  Payments of interests | (257) | (221) |
|  Proceeds from loans | 769 | 1767 |
|  Account overdrafts, net | (3) |  |
|  Payments of leases | (96) | (105) |
|  Payments of interests in relation to income tax | (27) |  |
|  **Net cash flows (used in) / from financing activities** | **(787)** | **354** |
|  **Effect of changes in exchange rates on cash and cash equivalents** | **24** | **(1)** |
|  **Increase / (Decrease) in cash and cash equivalents** | **393** | **(180)** |
|  Cash and cash equivalents at the beginning of the fiscal year | 933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1118 |
|  Cash and cash equivalents at the end of the period | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1326 | 938 |
|  **Increase / (Decrease) in cash and cash equivalents** | **393** | **(180)** |

---

(1) Does not include the effect of changes in exchange rates generated by cash and cash equivalents, which is disclosed
separately in this statement.

(2) Includes 19 and 20 for the three-month periods ended March 31, 2026 and 2025, respectively, for payments of
short-term leases and payments of the variable charge of leases related to the underlying asset use or performance.

(3) The main investing and financing transactions that have not affected cash and cash equivalents correspond to:

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended<br>March 31,** | **For the three-month periods ended<br>March 31,** |
|  | **2026** | **2025** |
|  Unpaid acquisitions of property, plant and equipment and intangible assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 |
|  Unpaid additions of assets held for sale | 1 | 5 |
|  Additions of right-of-use assets | 159 | 11 |
|  Capitalization of depreciation of right-of-use assets | 10 | 16 |
|  Capitalization of financial accretion for lease liabilities | 1 | 3 |
|  Unpaid receivables from the sale of assets | 387 |  |

---

Accompanying notes are an integral part of these condensed interim consolidated financial statements.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**1. GENERAL INFORMATION, STRUCTURE AND ORGANIZATION OF THE GROUP'S BUSINESS** 

<u>General information</u> 

YPF S.A. ("YPF" or the "Company") is a stock corporation (sociedad anónima) incorporated under the Argentine laws, with a registered office at Macacha Güemes 515, in the Autonomous City of Buenos Aires.

YPF and its subsidiaries (the "Group") form the leading energy group in Argentina, which operates a fully integrated oil and gas chain with leading positions in the local market for Upstream, Midstream, Downstream, LNG, Integrated Gas and New Energies businesses in Argentina.

<u>Structure and organization of the Group's business</u> 

As of March 31, 2026, the Group carries out its operations in accordance with the following structure:

Upstream <br>

- Midstream and Downstream

- LNG and Integrated Gas

- New Energies

- Central Administration and Others

Activities covered by each business segment are detailed in Note 6. The following table presents the main companies of the Group as of March 31, 2026, by business segment:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Entity** | **Country** | **Main business** | **% of ownership of<br>capital stock <sup>(1)</sup>** | **Relationship** |
|  **Upstream** |  |  |  |  |
|  SC Gas | Argentina | Hydrocarbon exploitation | 100% | Subsidiary |
|  VMI | Argentina | Hydrocarbon exploitation | 100% | Subsidiary |
|  **Midstream and Downstream** |  |  |  |  |
|  OPESSA | Argentina | Gas stations | 99.99% | Subsidiary |
|  Refinor | Argentina | Industrialization and commercialization of hydrocarbons | 100% | Subsidiary |
|  OTA | Argentina | Hydrocarbon transportation | 36% | Joint venture |
|  OTC | Chile | Hydrocarbon transportation | 36% | Joint venture |
|  Oldelval | Argentina | Hydrocarbon transportation | 37% | Associate |
|  OTAMERICA | Argentina | Hydrocarbon transportation | 30% | Associate |
|  Termap | Argentina | Hydrocarbon transportation | 33.15% | Associate |
|  VMOS <sup>(3) (5)</sup> | Argentina | Hydrocarbon transportation | 24.49% | Associate |
|  YPF Gas | Argentina | Commercialization of LPG | 33.99% | Associate |
|  **LNG and Integrated Gas** |  |  |  |  |
|  YPF Chile | Chile | Commercialization of natural gas | 100% | Subsidiary |
|  Argentina LNG | Argentina | Industrialization and commercialization of LNG | 100% | Subsidiary |
|  Sur Inversiones Energéticas | Argentina | Industrialization and commercialization of LNG through Southern Energy S.A. associate. | 100% | Subsidiary |
|  MEGA | Argentina | Separation of natural gas liquids and their fractionation | 38% | Joint venture |
|  **New Energies** |  |  |  |  |
|  Metrogas <sup>(2)</sup> | Argentina | Distribution of natural gas | 70% | Subsidiary |
|  Metroenergía | Argentina | Commercialization of natural gas | 71.50% | Subsidiary |
|  Y-TEC | Argentina | Research and development of technology | 51% | Subsidiary |
|  YPF EE | Argentina | Generation of electric power | 75% | Joint venture |
|  CT Barragán | Argentina | Generation of electric power | 50% | Joint venture |
|  CDS <sup>(4)</sup> | Argentina | Generation of electric power | 10.25% | Associate |
|  **Central Administration and Others** |  |  |  |  |
|  AESA | Argentina | Engineering and construction services | 100% | Subsidiary |
|  YPF Digital | Argentina | Digital development services and solutions | 100% | Subsidiary |

---

(1) Held directly by YPF and indirectly through its subsidiaries.

(2) See Note 35.c.3) "Note from ENARGAS related to YPF's equity interest in Metrogas" section to the annual
consolidated financial statements.

(3) See Note 34.d) to the annual consolidated financial statements.

(4) Additionally, the Group has a 22.36% indirect holding in capital stock through YPF EE.

(5) On April 23, 2026, VMOS's Shareholders' Meeting approved an increase in the transportation capacity
available to YPF and Chevron Argentina S.R.L., which will result in an increase in YPF's equity interest in VMOS. As of the date of issuance of these condensed interim consolidated financial statements, such increase is pending subscription
and payment. After the subscription and payment process is completed, YPF will hold a 29.82% interest in that company.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**2. BASIS OF PREPARATION OF THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS** 

**2. a) Applicable accounting framework** 

The condensed interim consolidated financial statements of the Company for the three-month period ended March 31, 2026, are presented in accordance with IAS 34 "Interim financial reporting". Therefore, they should be read together with the annual consolidated financial statements of the Company as of December 31, 2025 ("annual consolidated financial statements") presented in U.S. dollars and in accordance with IFRS Accounting Standards as issued by the IASB.

These condensed interim consolidated financial statements corresponding to the three-month period ended March 31, 2026, are unaudited. The Company believes they include all necessary adjustments to reasonably present the results of each period on a basis consistent with the audited annual consolidated financial statements. Net Income for the three-month period ended March 31, 2026 does not necessarily reflect the proportion of the Group's full-year net income.

**2. b) Material accounting policies** 

The material accounting policies are described in Note 2.b) to the annual consolidated financial statements.

The accounting policies adopted in the preparation of these condensed interim consolidated financial statements are consistent with those used in the preparation of the annual consolidated financial statements, except for the valuation policy for income tax described in Note 19.

<u>Functional currency</u>

As mentioned in Note 2.b.1) to the annual consolidated financial statements, YPF has defined the U.S. dollar as its functional currency.

The consolidated financial statements used by YPF for statutory, legal and regulatory purposes in Argentina are those in pesos and filed with the CNV and approved by the Board of Directors and authorized to be issued on May 7, 2026.

<u>Adoption of new standards, interpretations and amendments</u>

The Company has adopted all standards, interpretations and amendments issued by the IASB that are relevant to its operations and are mandatory effective January 1, 2026, as described in Note 2.b.14) to the annual consolidated financial statements.

In accordance with Article 1, Chapter III, Title IV of the CNV rules, the early application of the IFRS and/or their amendments is not permitted for issuers filing financial statements with the CNV, unless specifically admitted by such commission. Consequently, standards and interpretations issued by the IASB whose application is not mandatory at the closing date of these condensed interim consolidated financial statements have not been adopted by the Group.

**2. c) Significant estimates and key sources of estimation uncertainty** 

In preparing the financial statements at a certain date, the Group is required to make estimates and assessments affecting the amount of assets and liabilities recorded and the contingent assets and liabilities disclosed at such date, as well as income and expenses recognized in the fiscal year or period. Actual future profit or loss might differ from the estimates and assessments made at the date of preparation of these condensed interim consolidated financial statements.

The assumptions relating to the future and other key sources of uncertainty about the estimates made for the preparation of these condensed interim consolidated financial statements are consistent with those used by the Group in the preparation of the annual consolidated financial statements, which are disclosed in Note 2.c) to the annual consolidated financial statements.

**2. d) Comparative information** 

Amounts and other financial information corresponding to the fiscal year ended December 31, 2025 and for the three-month period ended March 31, 2025 are an integral part of these condensed interim consolidated financial statements and are intended to be read only in relation to these financial statements.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**3. SEASONALITY OF OPERATIONS** 

Historically, the Group's results have been subject to seasonal fluctuations throughout the year, particularly as a result of the increase in natural gas sales during the winter driven by the increased demand in the residential segment. Consequently, the Group is subject to seasonal fluctuations in its sales volumes and prices, with higher sales of natural gas during the winter at higher prices.

**4. ACQUISITIONS AND DISPOSALS** 

The most relevant acquisitions and disposals of companies that took place during the three-month period ended March 31, 2026 are described below:

<u>Asset exchange between YPF and Pluspetrol S.A. ("Pluspetrol")</u> 

On January 22, 2026, the Company entered into an asset swap agreement with Pluspetrol (see Note 38 to the annual consolidated financial statements). On April 30, 2026, after the fulfillment of the closing conditions, the asset exchange agreement between YPF and Pluspetrol was completed, as a result of which YPF, which owned 50% of the rights and obligations in the "Aguada Villanueva," "Las Tacanas," and "Meseta Buena Esperanza" exploitation concessions prior to the aforementioned exchange, is the only owner of 100% of those concessions.

Likewise, on that date, YPF and Pluspetrol signed an amendment to the agreement entered into on January 22, 2026, whereby YPF agrees, subject to the fulfillment of closing conditions, to assign 20% of the "La Escalonada" and "Rincón La Ceniza" exploitation concessions to Pluspetrol through VMI, or alternatively, to transfer 44.44% of VMI's shares to Pluspetrol. As of the date of issuance of these condensed consolidated interim financial statements, the closing conditions have not yet been met.

<u>Acquisition of interest in the "Bandurria Sur," "Bajo del Toro," and "Bajo del Toro Norte" blocks</u>

On February 1, 2026, YPF entered into agreements with Vista Energy S.A.B. de C.V. ("Vista") for (i) the share purchase and sale agreement in Equinor Argentina S.A.U., the company that owns 30% of the "Bandurria Sur" exploitation concession, and (ii) the acquisition of a 15% interest in the "Bajo del Toro" and "Bajo del Toro Norte" exploitation concessions (see Note 38 to the consolidated annual financial statements).

On May 7, 2026, after the fulfillment of the closing conditions, the agreements entered into between YPF and Vista were completed; as of that date YPF, which held interests in the "Bandurria Sur," "Bajo del Toro," and "Bajo del Toro Norte" prior to the aforementioned agreements, owns a total (direct and indirect) interest of 44.9% in the "Bandurria Sur" block and 65% in the "Bajo del Toro" and "Bajo del Toro Norte" blocks.

**5. FINANCIAL RISK MANAGEMENT** 

The Group's activities expose it to a variety of financial risks: Market risk (including exchange rate risk, interest rate risk, and price risk), liquidity risk and credit risk. Within the Group, risk management functions are conducted in relation to financial risks associated to financial instruments to which the Group is exposed during a certain period or as of a specific date.

During the three-month period ended March 31, 2026, there were no significant changes in the administration or policies of risk management implemented by the Group as described in Note 4 to the annual consolidated financial statements.

**•** **Liquidity risk management** 

Most of the Group's loans contain market-standard covenants for contracts of this nature, which include financial covenants mainly related to restrictions on incurring additional debt associated with the leverage ratio and the debt interest coverage ratio, restrictions on dividend payments, and events of defaults triggered by materially adverse judgements, among others. See Notes 17 and 33 to the annual consolidated financial statements and Notes 18 and 34.

The Group monitors compliance with covenants on a quarterly basis. As of March 31, 2026, the Group is in compliance with its covenants.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**6. BUSINESS SEGMENT INFORMATION** 

The different business segments in which the Group's organization is structured consider the different activities from which the Group can obtain revenues and incur expenses. Such organizational structure is based on the way in which the chief decision maker analyzes the main operating and financial magnitudes for making decisions about resource allocation and performance assessment, also considering the business strategy of the Group.

Business segment information is presented consistently with the manner of reporting the information used by the chief decision maker to allocate resources and assess business segment performance.

The business segments structure is organized as follows:

**•** **Upstream** 

It performs all activities related to the exploration and exploitation of hydrocarbon fields and production of crude oil and natural gas.

Its revenues are mainly derived from: (i) the sale of the produced crude oil to third parties and to the Midstream and Downstream business segment; (ii) the sale of the produced natural gas to third parties and to the LNG and Integrated Gas business segment; and (iii) the sale of the natural gas retained in plant to the Midstream and Downstream business segment.

It incurs all costs related to the aforementioned activities.

**•** **Midstream and Downstream** 

It performs activities related to: (i) the refining, transportation and commercialization of refined products; (ii) the production, transportation and commercialization of petrochemical products; (iii) the transportation and commercialization of crude oil; and (iv) the commercialization of specialties for the agribusiness industry and of grains and their by-products.

Its revenues are mainly derived from the sale of crude oil, refined and petrochemical products, and specialties for agribusiness industry and grains and their by-products, through the businesses of Retail, Commercial Networks, Industries, Transportation, Aviation, Agro, Lubricants and Specialties, LPG, Chemicals, International Trade and Transportation and Sales to Companies. In addition, it obtains revenues from midstream oil, midstream gas and natural gas storage operations and the provision of LNG regasification services.

It incurs all costs related to the aforementioned activities, including the purchase of: (i) crude oil from the Upstream business segment and third parties; (ii) natural gas to be consumed in the refinery and petrochemical industrial complexes from the LNG and Integrated Gas business segment; and (iii) natural gas retained in plant from the Upstream business segment.

**•** **LNG and Integrated Gas** 

It performs activities related to: (i) natural gas transportation and commercialization to third parties and to the Midstream and Downstream business segment; (ii) the separation of natural gas liquids and their fractionation, storage and transportation for the production of ethane, propane, butane and gasoline, and its commercialization, through our investment in joint venture Mega; and (iii) the development of LNG capacity.

Its revenues are mainly derived from the sale of natural gas as producers to third parties and to the Midstream and Downstream and the New Energies business segments for our subsidiary Metrogas.

It incurs all costs related to the aforementioned activities, including the purchase of natural gas from the Upstream business segment.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**6. BUSINESS SEGMENT INFORMATION (cont.)** 

**•** **New Energies** 

It performs activities related to: (i) the definition and development of the new energy portfolio; (ii) the definition and development of sustainability and energy transitions programs; (iii) the distribution of natural gas through our subsidiary Metrogas; and (iv) the provision of research and development services of technology applied to the hydrocarbon industry through our subsidiary Y-TEC. Furthermore, through our joint ventures YPF EE and CT Barragán, this business segment performs activities related to the generation of conventional thermal electric power and renewable energy.

Its revenues are mainly derived from the sale and transportation and distribution of natural gas to third parties through our subsidiary Metrogas.

It incurs all costs related to the aforementioned activities, including the purchase of natural gas from the LNG and Integrated Gas business segment through our subsidiary Metrogas.

**•** **Central Administration and Others** 

It includes the remaining activities performed by the Group that do not fall within the aforementioned business segments and which are not reporting business segments, mainly comprising revenues, expenses and assets related to: (i) corporate administrative; (ii) the production of frac sand for well drilling/fracking purposes; (iii) the construction activities through our subsidiary AESA; and (iv) digital development services and solutions through our subsidiary YPF Digital.

Sales between business segments were made at internal transfer prices established by the Group, which approximately reflect domestic market prices.

Operating profit or loss and assets of each business segment have been determined after consolidation adjustments.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**6. BUSINESS SEGMENT INFORMATION (cont.)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Upstream** | **Midstream and<br>Downstream** | **LNG and<br>Integrated Gas** | **New Energies** | **Central<br>Administration**<br>**and Others** | **Consolidation<br>adjustments <sup>(1)</sup>** | **Total** |
|  **<u>For the three-month period ended March 31, 2026</u>** |  |  |  |  |  |  |  |
|  Revenues | 33 | 4212 | 304 | 203 | 194 |  | 4946 |
|  Revenues from intersegment sales | 1988 | 45 | 67 | 3 | 265 | (2368) |  |
|  Revenues | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2368) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4946 |
|  Operating profit or loss | 616<sup>(3)</sup> | 1085 | (1) | 13 | (170) | (665) | 878 |
|  Income from equity interests in associates and joint ventures |  | 9 | 17 | 75 |  |  | 101 |
|  Net financial results |  |  |  |  |  |  | (327) |
|  Net profit before income tax |  |  |  |  |  |  | 652 |
|  Income tax |  |  |  |  |  |  | (243) |
|  Net profit for the period |  |  |  |  |  |  | 409 |
|  Acquisitions of property, plant and equipment | 828 | 169 | 18 | 9 | 12 |  | 1036 |
|  Acquisitions of right-of-use assets | 105 | 54 |  |  |  |  | 159 |
|  Increases from business combinations |  |  |  |  |  |  |  |
|  *Other income statement items* |  |  |  |  |  |  |  |
|  Depreciation of property, plant and equipment <sup>(2)</sup> | 480 | 137 | 1 | 11 | 24 |  | 653 |
|  Amortization of intangible assets |  | 9 |  | 3 | 5 |  | 17 |
|  Depreciation of right-of-use assets | 42 | 30 |  |  | 1 |  | 73 |
|  **<u>Balance as of March 31, 2026</u>** |  |  |  |  |  |  |  |
|  Assets | 13578 | 12019 | 746 | 2320 | 2513 | (818) | 30358 |

---

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**6. BUSINESS SEGMENT INFORMATION (cont.)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Upstream** | **Midstream and<br>Downstream** | **LNG and<br>Integrated Gas** | **New<br>Energies** | **Central<br>Administration**<br>**and Others** | **Consolidation<br>adjustments <sup>(1)</sup>** | **Total** |
|  **<u>For the three-month period ended March 31, 2025</u>** |  |  |  |  |  |  |  |
|  Revenues | 18 | 3868 | 333 | 189 | 200 |  | 4608 |
|  Revenues from intersegment sales | 2049 | 62 | 67 | 3 | 282 | (2463) |  |
|  Revenues | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2463) | 4608 |
|  Operating profit or loss | (103) | 422 | (5) | 24 | (115) | (31) | 192 |
|  Income from equity interests in associates and joint ventures |  | 14 | 22 | 45 |  |  | 81 |
|  Net financial results |  |  |  |  |  |  | (245) |
|  Net profit before income tax |  |  |  |  |  |  | 28 |
|  Income tax |  |  |  |  |  |  | (38) |
|  Net loss for the period |  |  |  |  |  |  | (10) |
|  Acquisitions of property, plant and equipment | 1060 | 213 | 3 | 10 | 20 |  | 1306 |
|  Acquisitions of right-of-use assets | 2 | 1 |  |  | 8 |  | 11 |
|  Increases from business combinations | 262 |  |  |  |  |  | 262 |
|  Other income statement items |  |  |  |  |  |  |  |
|  Depreciation of property, plant and equipment <sup>(2)</sup> | 561 | 125 | 1 | 10 | 21 |  | 718 |
|  Amortization of intangible assets |  | 9 |  | 4 | 1 |  | 14 |
|  Depreciation of right-of-use assets | 41 | 31 |  |  | 2 |  | 74 |
|  **<u>Balance as of December 31, 2025</u>** |  |  |  |  |  |  |  |
|  Assets | 13167 | 11093 | 735 | 2502 | 2094 | (152) | 29439 |

---

(1) Corresponds to the eliminations among the business segments of the Group.

(2) Includes depreciation of charges for impairment of property, plant and equipment.

(3) Includes 9 of unproductive exploratory drillings as of March 31, 2026.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**7. FINANCIAL INSTRUMENTS BY CATEGORY** 

<u>Fair value measurements</u> 

Fair value measurements are described in Note 6 to the annual consolidated financial statements.

The tables below present the Group's financial assets measured at fair value through profit or loss as of March 31, 2026 and December 31, 2025, and their allocation to their fair value hierarchy levels:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** |
| <br>**Financial assets** | **Level 1** | **Level 2** | **Level 3** | **Total** |
|  Investments in financial assets: |  |  |  |  |
|  - Public securities | 354 |  |  | 354 |
|  - Private securities - NO | 12 |  |  | 12 |
|  | 366 |  |  | 366 |
|  Cash and cash equivalents: |  |  |  |  |
|  - Mutual funds | 410 |  |  | 410 |
|  - Public securities | 37 |  |  | 37 |
|  | 447 |  |  | 447 |
|  | 813 |  |  | 813 |
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** |
| **Financial assets** | **Level 1** | **Level 2** | **Level 3** | **Total** |
|  Investments in financial assets: |  |  |  |  |
|  - Public securities | 250 |  |  | 250 |
|  - Private securities - NO | 12 |  |  | 12 |
|  | 262 |  |  | 262 |
|  Cash and cash equivalents: |  |  |  |  |
|  - Mutual funds | 382 |  |  | 382 |
|  - Public securities | 24 |  |  | 24 |
|  | 406 |  |  | 406 |
|  | 668 |  |  | 668 |

---

The Group has no financial liabilities measured at fair value through profit or loss.

During the three-month period ended March 31, 2026, there were no transfers between the different hierarchies used to determine the fair value of the Group's financial instruments.

<u>Fair value of financial assets and financial liabilities measured at amortized cost</u>

The estimated fair value of loans, considering unadjusted listed prices (Level 1) for NO and interest rates offered to the Group (Level 3) for the remaining loans, amounted to 9,938 and 10,696 as of March 31, 2026 and December 31, 2025, respectively.

The fair value of other receivables, trade receivables, cash and cash equivalents, other liabilities and accounts payable at amortized cost, do not differ significantly from their carrying amount.

**8. INTANGIBLE ASSETS** 

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
|  Net carrying amount of intangible assets | 1113 | 1108 |
|  Provision for impairment of intangible assets | (40) | (40) |
|  | 1073 | 1068 |

---

HORACIO DANIEL MARÍN President

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##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**8. INTANGIBLE ASSETS (cont.)** 

The evolution of the Group's intangible assets for the three-month period ended March 31, 2026 and as of the year ended December 31, 2025 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Service concessions | Exploration rights<br>and hydrocarbon<br>resources | Other intangibles | Total |
| &nbsp;&nbsp;&nbsp; Cost | 1050 | 110 | 536 | 1696 |
| &nbsp;&nbsp;&nbsp; Accumulated amortization | 730 | - | 435 | 1165 |
| &nbsp;&nbsp;&nbsp; **Balance as of December 31, 2024** | 320 | 110 | 101 | 531 |
| &nbsp;&nbsp;&nbsp; <u>Cost</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Increases | 74 |  | 8 | 82 |
| &nbsp;&nbsp;&nbsp; Increases from business combinations |  | 580 |  | 580 |
| &nbsp;&nbsp;&nbsp; Translation effect |  |  | (31) | (31) |
| &nbsp;&nbsp;&nbsp; Adjustment for inflation <sup>(1)</sup> |  |  | 24 | 24 |
| &nbsp;&nbsp;&nbsp; Decreases, reclassifications and other movements |  | (54) | 29 | (25) |
| &nbsp;&nbsp;&nbsp; <u>Accumulated amortization</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Increases | 27 |  | 34 | 61 |
| &nbsp;&nbsp;&nbsp; Translation effect |  |  | (20) | (20) |
| &nbsp;&nbsp;&nbsp; Adjustment for inflation <sup>(1)</sup> |  |  | 15 | 15 |
| &nbsp;&nbsp;&nbsp; Decreases, reclassifications and other movements |  |  | (3) | (3) |
| &nbsp;&nbsp;&nbsp; Cost | 1124 | 636 | 566 | 2326 |
| &nbsp;&nbsp;&nbsp; Accumulated amortization | 757 | - | 461 | 1218 |
| &nbsp;&nbsp;&nbsp; **Balance as of December 31, 2025** | 367 | 636 | 105 | 1108 |
| &nbsp;&nbsp;&nbsp; <u>Cost</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Increases | 8 |  | 2 | 10 |
| &nbsp;&nbsp;&nbsp; Increases from business combinations |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Translation effect |  |  | 4 | 4 |
| &nbsp;&nbsp;&nbsp; Adjustment for inflation <sup>(1)</sup> |  |  | 11 | 11 |
| &nbsp;&nbsp;&nbsp; Decreases, reclassifications and other movements |  |  | 9 | 9 |
| &nbsp;&nbsp;&nbsp; <u>Accumulated amortization</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Increases | 7 |  | 10 | 17 |
| &nbsp;&nbsp;&nbsp; Translation effect |  |  | 3 | 3 |
| &nbsp;&nbsp;&nbsp; Adjustment for inflation <sup>(1)</sup> |  |  | 9 | 9 |
| &nbsp;&nbsp;&nbsp; Decreases, reclassifications and other movements |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cost | 1132 | 636 | 592 | 2360 |
| &nbsp;&nbsp;&nbsp; Accumulated amortization | 764 | - | 483 | 1247 |
| &nbsp;&nbsp;&nbsp; **Balance as of March 31, 2026** | 368 | 636 | 109 | 113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cost** |  |  |  |  |

---

(1) Corresponds to the adjustment for inflation of opening balances of intangible assets of subsidiaries with the peso as
functional currency which was charged to "Other comprehensive income" in the statement of comprehensive income.

**9. PROPERTY, PLANT AND EQUIPMENT** 

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
|  Net carrying amount of property, plant and equipment | 20378 | 19926 |
|  Provision for obsolescence of materials and equipment | (481) | (484) |
|  Provision for impairment of property, plant and equipment | (339) | (357) |
|  | 19558 | 19085 |

---

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**9. PROPERTY, PLANT AND EQUIPMENT (cont.)** 

Changes in Group's property, plant and equipment for the three-month periods ended March 31, 2026 and as of the year ended December 31, 2025 are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Land and<br>buildings | Mining<br>property,<br>wells and<br>related<br>equipment | Refinery<br>equipment<br>and<br>petrochemical<br>plants | Transportation<br>equipment | Materials and<br>equipment in<br>warehouse | Drilling and<br>work in<br>progress | Exploratory<br>drilling in<br>progress | Furniture,<br>fixtures and<br>installations | Selling<br>equipment | Infrastructure<br>for natural<br>gas<br>distribution | Other<br>property | Total |
| Cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1355 | &nbsp;&nbsp;&nbsp;&nbsp;28511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52404 |
| Accumulated depreciation | 715 | 22329 | 6230 | 378 |  |  |  | 800 | 1041 | 711 | 744 | 32948 |
| **Balance as of December 31, 2024** | 640 | 6182 | 3101 | 350 | 1563 | 6068 | 59 | 96 | 524 | 664 | 209 | 19456 |
| <u>Cost</u> |  |  |  |  |  |  |  |  |  |  |  |  |
| Increases | 1 | 175 | 125 | 17 | 867 | 3673 | 40 | 3 |  |  | 8 | 4909 |
| Increases from business combinations | 11 | 184 | 51 | 93 | 46 | 50 |  |  |  |  |  | 435 |
| Translation effect | (81) |  |  | (31) | (10) | (16) |  | (18) |  | (399) | (100) | (655) |
| Adjustment for inflation <sup>(1)</sup> | 62 |  |  | 24 | 8 | 12 |  | 14 |  | 304 | 78 | 502 |
| Decreases, reclassifications and other movements | (24) | (1174) | 555 | 178 | (1200) | (4376) | (85) | 23 | 37 | 40 | (17) | (6043) <sup>(2) (3)</sup> |
| <u>Accumulated depreciation</u> |  |  |  |  |  |  |  |  |  |  |  |  |
| Increases | 27 | 2348 | 389 | 59 |  |  |  | 40 | 75 | 26 | 28 | 2992 |
| Translation effect | (45) |  |  | (19) |  |  |  | (11) |  | (205) | (74) | (354) |
| Adjustment for inflation <sup>(1)</sup> | 34 |  |  | 14 |  |  |  | 9 |  | 157 | 56 | 270 |
| Decreases, reclassifications and other movements | (28) | (4134) |  | (29) |  |  |  | (10) | (1) | (1) | (27) | (4230) <sup>(2) (3)</sup> |
| Cost | 1324 | 27696 | 10062 | 1009 | 1274 | 5411 | 14 | 918 | 1602 | 1320 | 922 | 51552 |
| Accumulated depreciation | 703 | 20543 | 6619 | 403 |  |  |  | 828 | 1115 | 688 | 727 | 31626 |
| **Balance as of December 31, 2025** | 621 | 7153 | 3443 | 606 | 1274 | 5411 | 14 | 90 | 487 | 632 | 195 | 19926 |
| <u>Cost</u> |  |  |  |  |  |  |  |  |  |  |  |  |
| Increases | 1 |  | 4 | 1 | 195 | 827 | 2 | 3 |  |  | 3 | 1036 |
| Increases from business combinations |  |  |  |  |  |  |  |  |  |  |  |  |
| Translation effect | 15 |  |  | 7 | 1 | 1 |  | 2 |  | 71 | 18 | 115 |
| Adjustment for inflation <sup>(1)</sup> | 25 |  |  | 11 | 3 | 3 |  | 4 |  | 127 | 37 | 210 |
| Decreases, reclassifications and other movements | 11 | 525 | 280 | 17 | (177) | (737) | 1 | 3 | 25 | 4 | 2 | (46) |
| <u>Accumulated depreciation</u> |  |  |  |  |  |  |  |  |  |  |  |  |
| Increases | 8 | 504 | 100 | 15 |  |  |  | 10 | 21 | 8 | 7 | 673 |
| Translation effect | 8 |  |  | 3 |  |  |  | 2 |  | 35 | 17 | 65 |
| Adjustment for inflation <sup>(1)</sup> | 15 |  |  | 6 |  |  |  | 4 |  | 65 | 25 | 115 |
| Decreases, reclassifications and other movements |  | (3) |  | 13 |  |  |  |  |  |  |  | 10 |
| Cost | 1376 | 28221 | 10346 | 1045 | 1296 | 5505 | 17 | 930 | 1627 | 1522 | 982 | 52867 |
| Accumulated depreciation | 734 | 21044 | 6719 | 440 |  |  |  | 844 | 1136 | 796 | 776 | 32489 |
| **Balance as of March 31, 2026** | 642 | 7177 | 3627 | 605 | 1296 | 5505 | 17 | 86 | 491 | 726 | 206 | 20378 |

---

(1) Corresponds to the adjustment for inflation of opening balances of property, plant and equipment of subsidiaries with
the peso as functional currency which was charged to "Other comprehensive income" in the statement of comprehensive income.

(2) Includes 380 and 74 of cost and accumulated depreciation, respectively, of assets related to the "Aguada del
Chañar" exploitation concession reclassified to the "Assets held for sale" line item in the statement of financial position, see Note 11.b) to the annual consolidated financial statements.

(3) Includes 4,630 and 3,879 of cost and accumulated depreciation, respectively, of assets related to the "Cerro
Fortunoso", "Valle del Río Grande" and "Manantiales Behr" exploitation concessions within the context of the Optimization plan of the conventional Upstream portfolio reclassified to the "Assets held for
sale" line item in the statement of financial position, see Note 11.a) to the annual consolidated financial statements.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**9. PROPERTY, PLANT AND EQUIPMENT (cont.)** 

The Group capitalizes the financial cost of loans as part of the cost of the property, plant and equipment. For the three-month periods ended March 31, 2026 and 2025, the rate of capitalization was 7.03% and 6.57%, respectively, and the amount capitalized amounted to 4 and 3, respectively.

Set forth present is the evolution of the provision for obsolescence of materials and equipment for the three-month period ended March 31, 2026 and as of the year ended December 31, 2025:

---

| | |
|:---|:---|
|  | **Provision for obsolescence** <br>**of materials and equipment** |
|  **Balance as of December 31, 2024** | 223 |
|  Increases charged to profit or loss | 371 |
|  Decreases charged to profit or loss | (41) |
|  Applications due to utilization | (20) |
|  Translation effect | (2) |
|  Adjustment for inflation <sup>(1)</sup> | 2 |
|  Reclassifications | (49) |
|  **Balance as of December 31, 2025** | 484 |
|  Increases charged to profit or loss |  |
|  Decreases charged to profit or loss | (9) |
|  Applications due to utilization |  |
|  Translation effect |  |
|  Adjustment for inflation <sup>(1)</sup> |  |
|  Reclassifications | 6 |
|  **Balance as of March 31, 2026** | 481 |

---

(1) Corresponds to the adjustment for inflation of opening balances of the provision for obsolescence of materials and
equipment of subsidiaries with the peso as functional currency which was charged to "Other comprehensive income" in the statement of comprehensive income.

Set forth present is the evolution of the provision for impairment of property, plant and equipment for the three-month period ended March 31, 2026 and as of the year ended December 31, 2025:

---

| | |
|:---|:---|
|  | **Provision for impairment of <br>property, plant and<br>equipment** |
|  **Balance as of December 31, 2024** | 497 |
|  Increases charged to profit or loss | 2 |
|  Decreases charged to profit or loss | (7) |
|  Depreciation <sup>(1)</sup> | (135) |
|  Translation effect | (4) |
|  Adjustment for inflation <sup>(2)</sup> | 4 |
|  **Balance as of December 31, 2025** | 357 |
|  Increases charged to profit or loss |  |
|  Decreases charged to profit or loss |  |
|  Depreciation <sup>(1)</sup> | (20) |
|  Translation effect | 1 |
|  Adjustment for inflation <sup>(2)</sup> | 1 |
|  **Balance as of March 31, 2026** | 339 |

---

(1) Included in "Depreciation of property, plant and equipment" line item in the statement of comprehensive
income, see Note 28.

(2) Corresponds to the adjustment for inflation of opening balances of the provision for impairment of property, plant and
equipment of subsidiaries with the peso as functional currency which was charged to "Other comprehensive income" in the statement of comprehensive income.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**10. RIGHT-OF-USE ASSETS** 

The evolution of the Group's right-of-use assets for the three-month period ended March 31, 2026 and as of the year ended December 31, 2025 is as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Land and<br>buildings | Exploitation<br>facilities and<br>equipment | Machinery<br>and<br>equipment | Gas<br>stations | Transportation<br>equipment | Total |
| &nbsp;&nbsp;&nbsp; Cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611 | 114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2018 |
| &nbsp;&nbsp;&nbsp; Accumulated depreciation | 32 | 502 | 284 | 67 | 390 | 1275 |
| &nbsp;&nbsp;&nbsp; **Balance as of December 31, 2024** | 20 | 66 | 327 | 47 | 283 | 743 |
| &nbsp;&nbsp;&nbsp; <u>Cost</u> |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Increases |  | 37 | 40 |  | 139 | 216 |
| &nbsp;&nbsp;&nbsp; Translation effect |  |  |  | (8) |  | (8) |
| &nbsp;&nbsp;&nbsp; Adjustment for inflation <sup>(1)</sup> |  |  |  | 5 |  | 5 |
| &nbsp;&nbsp;&nbsp; Decreases, reclassifications and other movements | (7) | (19) | (4) |  | (51) | (81) |
| &nbsp;&nbsp;&nbsp; <u>Accumulated depreciation</u> |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Increases | 6 | 35 | 111 | 11 | 180 | 343 |
| &nbsp;&nbsp;&nbsp; Translation effect |  |  |  | (6) |  | (6) |
| &nbsp;&nbsp;&nbsp; Adjustment for inflation <sup>(1)</sup> |  |  |  | 4 |  | 4 |
| &nbsp;&nbsp;&nbsp; Decreases, reclassifications and other movements | (1) | (2) |  |  |  | (3) |
| &nbsp;&nbsp;&nbsp; Cost | 45 | 586 | 647 | 111 | 761 | 2150 |
| &nbsp;&nbsp;&nbsp; Accumulated depreciation | 37 | 535 | 395 | 76 | 570 | 1613 |
| &nbsp;&nbsp;&nbsp; **Balance as of December 31, 2025** | 8 | 51 | 252 | 35 | 191 | 537 |
| &nbsp;&nbsp;&nbsp; <u>Cost</u> |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Increases |  | 105 | 19 |  | 35 | 159 |
| &nbsp;&nbsp;&nbsp; Translation effect |  |  |  | 1 |  | 1 |
| &nbsp;&nbsp;&nbsp; Adjustment for inflation <sup>(1)</sup> |  |  |  | 4 |  | 4 |
| &nbsp;&nbsp;&nbsp; Decreases, reclassifications and other movements |  | (20) |  | (8) |  | (28) |
| &nbsp;&nbsp;&nbsp; <u>Accumulated depreciation</u> |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Increases | 1 | 11 | 29 | 4 | 38 | 83 |
| &nbsp;&nbsp;&nbsp; Translation effect |  |  |  | 2 |  | 2 |
| &nbsp;&nbsp;&nbsp; Adjustment for inflation <sup>(1)</sup> |  |  |  | 1 |  | 1 |
| &nbsp;&nbsp;&nbsp; Decreases, reclassifications and other movements |  | (18) |  | (4) |  | (22) |
| &nbsp;&nbsp;&nbsp; Cost | 45 | 671 | 666 | 108 | 796 | 2286 |
| &nbsp;&nbsp;&nbsp; Accumulated depreciation | 38 | 528 | 424 | 79 | 608 | 1677 |
| &nbsp;&nbsp;&nbsp; **Balance as of March 31, 2026** | 7 | 143 | 242 | 29 | 188 | 609 |

---

(1) Corresponds to the adjustment for inflation of opening balances of right-of-use assets of subsidiaries with the peso as functional currency which was charged to "Other comprehensive income" in the statement of comprehensive income.

**11. INVESTMENTS IN ASSOCIATES AND JOINT VENTURES** 

The following table presents the value of the investments in associates and joint ventures at an aggregate level as of March 31, 2026 and December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
| &nbsp;&nbsp;&nbsp; Amount of investments in associates |  | 341 |  | 326 |
| &nbsp;&nbsp;&nbsp; Amount of investments in joint ventures |  | 1376 |  | 1284 |
|  |  | **1,717** |  | **1,610** |

---

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**11. INVESTMENTS IN ASSOCIATES AND JOINT VENTURES (cont.)** 

The main concepts which affected the value of the aforementioned investments during the three-month period ended March 31, 2026 and as of the year ended December 31, 2025, correspond to:

---

| | |
|:---|:---|
|  | **Investments in associates<br>and joint ventures** |
|  **Balance as of December 31, 2024** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1960 |
|  Acquisitions and contributions | 96 |
|  Capitalization in associates and joint ventures | 12 |
|  Income on investments in associates and joint ventures | 122 |
|  Distributed dividends <sup>(4)</sup> | (249) |
|  Translation differences | (17) |
|  Adjustment for inflation <sup>(1)</sup> | 18 |
|  Decrease of companies <sup>(2)</sup> | (261) |
|  Other movements <sup>(3)</sup> | (71) |
|  **Balance as of December 31, 2025** | 1610 |
|  Acquisitions and contributions | 34 |
|  Capitalization in associates and joint ventures |  |
|  Income on investments in associates and joint ventures | 101 |
|  Distributed dividends | (39) |
|  Translation differences | 4 |
|  Adjustment for inflation <sup>(1)</sup> | 7 |
|  Decrease of companies |  |
|  Other movements |  |
|  **Balance as of March 31, 2026** | 1717 |

---

(1) Corresponds to the adjustment for inflation of opening balances of associates and joint ventures with the peso as
functional currency which was charged to "Other comprehensive income" in the statement of comprehensive income, see Note 2.b.1) to the annual consolidated financial statements.

(2) Corresponds to the decrease due to the sale of Profertil, see Note 3 to the annual consolidated financial statements.

(3) Corresponds to the decrease in the OLCLP and Refinor joint ventures, see Note 3 to the annual consolidated financial
statements.

(4) Includes 23 that were offset by trade liabilities.

The following table presents the principal amounts of the results of the investments in associates and joint ventures of the Group, calculated according to the equity method, for the three-month periods ended March 31, 2026 and 2025. The values reported by these companies have been adjusted, if applicable, to adapt them to the accounting policies used by the Company for the calculation of the equity method value in the aforementioned dates:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Associates** | **Associates** | **Joint ventures** | **Joint ventures** |
|  | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** |
|  | **2026** | **2025** | **2026** | **2025** |
|  Net income | 8 | 9 | 93 | 72 |
|  Other comprehensive income | 11 | 3 |  | 1 |
|  **Comprehensive income** | 19 | 12 | 93 | 73 |

---

The Company has no investments in subsidiaries with significant non-controlling interests. Likewise, the Company has no significant investments in associates and joint ventures, except for the investment in YPF EE.

**12. ASSETS HELD FOR SALE AND ASSOCIATED LIABILITIES** 

The following table presents the main assets held for sale and associated liabilities as of March 31, 2026 and December 31, 2025:

---

| | | | |
|:---|:---|:---|:---|
|  | $nan<br>**Upstream** | $nan<br>**Midstream and<br>Downstream** | $nan<br>**Total** |
|  **<u>Balance as of March 31, 2026</u>** |  |  |  |
|  **<u>Assets held for sale</u>** |  |  |  |
|  Property, plant and equipment - Optimization plan of the conventional Upstream portfolio | 951 |  | 951 |
|  Property, plant and equipment - Gas stations |  | 6 | 6 |
|  | **951** | **6** | **957** |
|  **<u>Liabilities directly associated with assets held for sale</u>** |  |  |  |
|  Provision for hydrocarbon wells abandonment obligations - Optimization plan of the conventional Upstream portfolio | 1051 |  | 1051 |
|  Provision for environmental liabilities - Optimization plan of the conventional Upstream portfolio | 5 |  | 5 |
|  Liabilities for concessions - Optimization plan of the conventional Upstream portfolio | 4 |  | 4 |
|  | **1060** | **-** | **1060** |

---

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**12. ASSETS HELD FOR SALE AND ASSOCIATED LIABILITIES (cont.)** 

---

| | | | |
|:---|:---|:---|:---|
|  | $nan<br>**Upstream** | $nan<br>**Midstream and<br>Downstream** | $nan<br>**Total** |
|  **<u>Balance as of December 31, 2025</u>** |  |  |  |
|  **<u>Assets held for sale</u>** |  |  |  |
|  Property, plant and equipment - Optimization plan of the conventional Upstream portfolio | 1013 |  | 1013 |
|  Property, plant and equipment - Gas stations |  | 6 | 6 |
|  | **1013** | **6** | **1019** |
|  **<u>Liabilities directly associated with assets held for sale</u>** |  |  |  |
|  Provision for hydrocarbon wells abandonment obligations - Optimization plan of the conventional Upstream portfolio | 1172 |  | 1172 |
|  Provision for environmental liabilities - Optimization plan of the conventional Upstream portfolio | 5 |  | 5 |
|  Liabilities for concessions - Optimization plan of the conventional Upstream portfolio | 4 |  | 4 |
|  | **1181** | **-** | **1181** |

---

**12. a) Optimization plan of the conventional Upstream portfolio** 

**12. a.1) Description of the Plan** 

The Optimization plan of the conventional Upstream portfolio is described in Note 11.a.1) to the annual consolidated financial statements.

As of the date of issuance of these condensed interim consolidated financial statements, the Company has signed assignment agreements for certain groups of assets as held for sale that are subject to closing conditions mainly related to regulatory and provincial approvals, for which the Company is taking the necessary steps to close; and considers that it is highly probable that these assets will be disposed. In addition, the Company maintains groups of assets as held for sale for which agreements have not yet been signed but continues in negotiations with third parties for their disposal or reversal. The delay in the fulfillment of the plan for the disposal of mature fields is due to the complexity of the negotiations, which is beyond the Company's control. As of the date of issuance of these condensed interim consolidated financial statements, the Company considers that the disposal of such assets continues to be highly probable during 2026.

**12. a.2) Accounting matters** 

In relation to the assignment and/or reversion agreements that have met the agreed closing conditions during the three-month period ended March 31, 2026, the Company recognized:

- A gain from sale of assets in the "Other net operating results" line item in the statement of comprehensive income of 4.

- A gain from changes in the fair value of assets held for sale under "Other net operating results" line item in the statement of comprehensive income of 14.

The derecognition of the carrying amount of the liabilities directly associated with assets held for sale net of the assets held for sale of 90. <br>

Likewise, the Company has committed to an optimization plan that involves operating efficiency measures related to the reduction of third party employees directly or indirectly affected to the operation of areas related to certain groups of assets held for disposal. For such concept, the Company recognized a loss for 70 in the "Provision for operating optimizations" line under "Other operating results, net" line item in the statement of comprehensive income.

**13. INVENTORIES** 

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
|  Finished goods | 940 | 921 |
|  Crude oil and natural gas | 375 | 393<sup>(2)</sup> |
|  Products in process | 51 | 39 |
|  Raw materials, packaging materials and others | 94 | 94 |
|  | 1460<sup>(1)</sup> | 1447<sup>(1)</sup> |

---

(1) As of March 31, 2026, and December 31, 2025, the carrying amount of inventories does not exceed their net
realizable value.

(2) Includes 21 corresponding to the provision of inventories write-down as of December 31, 2025, respectively, see
Note 12 to the annual consolidated financial statements.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**14. OTHER RECEIVABLES** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
|  | **Non-current** | **Current** | **Non-current** | **Current** |
|  Receivables from services, sales of other assets and other advance payments | 76 | 116 | 85 | 502<sup>(3)</sup> |
|  Tax credit and export rebates | 85 | 100 | 67 | 99 |
|  Loans and balances with related parties <sup>(1)</sup> | 197 | 67 | 200 | 36 |
|  Collateral deposits |  | 16 |  | 15 |
|  Prepaid expenses | 44 | 82 | 48 | 39 |
|  Advances and loans to employees |  | 7 |  | 6 |
|  Advances to suppliers and custom agents <sup>(2)</sup> | 8 | 52 | 6 | 90 |
|  Receivables with partners in JO and Consortiums | 213 | 306 | 232 | 299 |
|  Miscellaneous | 54 | 74 | 49 | 73 |
|  | 677 | 820 | 687 | 1159 |
|  Provision for other doubtful receivables | (41) |  | (39) |  |
|  | 636 | 820 | 648 | 1159 |

---

(1) See Note 37 for information about related parties.

(2) Includes, among others, advances to custom agents for the payment of taxes and import rights related to the imports of
fuels and goods.

(3) Includes receivable balances from the sale of Profertil, see Note 3 to the annual consolidated financial statements.

**15. TRADE RECEIVABLES** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
|  | **Non-current** | **Current** | **Non-current** | **Current** |
|  Accounts receivable and related parties <sup>(1) (2)</sup> | 13 | 1863 | 12 | 1728 |
|  Provision for doubtful trade receivables | (7) | (79) | (7) | (74) |
|  | 6 | 1784 | 5 | 1654 |

---

(1) See Note 37 for information about related parties.

(2) See Note 26 for information about credits for contracts included in trade receivables.

Set forth present is the evolution of the provision for doubtful trade receivables for the three-month period ended March 31, 2026 and for the fiscal year ended December 31, 2025:

---

| | | |
|:---|:---|:---|
|  | **Provision for doubtful<br>trade receivables** | **Provision for doubtful<br>trade receivables** |
|  | **Non-current** | **Current** |
|  **Balance as of December 31, 2024** | 9 <sup>(1)</sup> | 52 |
|  Increases charged to expenses |  | 62 |
|  Decreases charged to income |  | (8) |
|  Applications due to utilization |  | (20) |
|  Net exchange and translation differences | (2) | (12) |
|  **Balance as of December 31, 2025** | 7<sup>(1)</sup> | 74 |
|  Increases charged to expenses |  | 7 |
|  Decreases charged to income |  | (4) |
|  Applications due to utilization |  | (1) |
|  Net exchange and translation differences |  | 3 |
|  **Balance as of March 31, 2026** | 7<sup>(1)</sup> | 79 |

---

(1) Mainly including credits with distributors of natural gas for the accumulated daily differences pursuant to Decree
No. 1,053/2018, see Note 35.c.1) to the annual consolidated financial statements.

**16. INVESTMENTS IN FINANCIAL ASSETS** 

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
|  **<u>Investments at fair value through profit or loss</u>** |  |  |
|  Public securities | 354 <sup>(1)</sup> | 250 |
|  Private securities - NO | 12 | 12 |
|  | 366 | 262 |

---

(1) See Note 37.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**17. CASH AND CASH EQUIVALENTS** 

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
|  Cash and banks <sup>(1)</sup> | 322 | 198 |
|  Short-term investments <sup>(2)</sup> | 557 | 329 |
|  Financial assets at fair value through profit or loss <sup>(3)</sup> | 447 | 406 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933 |

---

(1) Includes balances granted as collateral, see Note 34.d) to the annual consolidated financial statements.

(2) Includes 73 and 13 of term deposits and other investments with BNA as of March 31, 2026 and December 31, 2025,
respectively.

(3) See Note 7.

**18. PROVISIONS** 

Changes in the Group's provisions for the three-month period ended March 31, 2026 and for the fiscal year ended December 31, 2025 are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Provision for lawsuits<br>and contingencies** | **Provision for lawsuits<br>and contingencies** | **Provision for environmental<br>liabilities** | **Provision for environmental<br>liabilities** | **Provision for hydrocarbon<br>wells abandonment<br>obligations** | **Provision for hydrocarbon<br>wells abandonment<br>obligations** | **Total** | **Total** |
|  | **Non-current** | **Current** | **Non-current** | **Current** | **Non-current** | **Current** | **Non-current** | **Current** |
|  **Balance as of December 31, 2024** | 129 | 21 | 99 | 36 | 856 | 59 | 1084 | 116 |
|  Increases charged to expenses | 41 |  | 142 |  | 114 |  | 297 |  |
|  Decreases charged to income | (7) |  | (1) |  | (36) |  | (44) |  |
|  Increases from business combinations | 2 |  |  |  | 12 |  | 14 |  |
|  Applications due to utilization | (1) | (25) |  | (92) |  | (22) | (1) | (139) |
|  Net exchange and translation differences | (28) | (1) |  |  |  |  | (28) | (1) |
|  Result from net monetary position <sup>(1)</sup> |  |  |  |  |  |  |  |  |
|  Reclassifications and other movements <sup>(2)</sup> | (25) | 25 | (172) | 174 | (515) | 54 | (712) | 253 |
|  **Balance as of December 31, 2025** | 111 | 20 | 68 | 118 | 431 | 91 | 610 | 229 |
|  Increases charged to expenses | 14 |  | 49 |  | 15 |  | 78 |  |
|  Decreases charged to income |  |  | (1) |  | (6) |  | (7) |  |
|  Increases from business combinations |  |  |  |  |  |  |  |  |
|  Applications due to utilization |  | (2) |  | (19) |  | (4) |  | (25) |
|  Net exchange and translation differences | 5 |  |  |  |  |  | 5 |  |
|  Result from net monetary position <sup>(1)</sup> |  |  |  |  |  |  |  |  |
|  Reclassifications and other movements | (2) | 2 | (41) | 40 | (4) | 2 | (47) | 44 |
|  **Balance as of March 31, 2026** | 128 | 20 | 75 | 139 | 436 | 89 | 639 | 248 |

---

(1) Includes the adjustment for inflation of opening balances of provisions of subsidiaries with the peso as functional
currency which was charged to "Other comprehensive income" in the statement of comprehensive income, and the adjustment for inflation of the period which was charged to net profit or loss in the statement of comprehensive income.

(2) Includes 242 and 4 corresponding to the provisions for hydrocarbon wells abandonment obligations and for environmental
liabilities, respectively, related to the "Cerro Fortunoso", "Valle del Río Grande" and "Manantiales Behr" exploitation concessions within the context of the Optimization plan of the conventional Upstream
portfolio reclassified to the "Liabilities directly associated with assets held for sale" line item in the statement of financial position, see Note 11.a) to the annual consolidated financial statements.

Provisions are described in Note 17 to the annual consolidated financial statements.

**19. INCOME TAX** 

According to IAS 34, income tax expense is recognized in each interim period based on the best estimate of the effective income tax rate expected as the closing date of these condensed interim consolidated financial statements, considering the tax criteria that the Group assumes to apply during the fiscal year. If the estimate of such rate is modified based on new elements of judgment, the income tax expense could require adjustments in subsequent periods.

The amount accrued of income tax charge for the three-month periods ending March 31, 2026 and 2025 is as follows:

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended<br>March 31,** | **For the three-month periods ended<br>March 31,** |
|  | **2026** | **2025** |
|  Current income tax | (151) | (18) |
|  Deferred income tax | (92) | (20) |
|  | (243) | (38) |

---

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**19. INCOME TAX (cont.)** 

The effective income tax rate projected at the end of the fiscal year amounts to 37.27%. The difference between this rate and the effective rate as of December 31, 2025 is mainly explained by the effect of adhering in November 2025 to the Regularization plan associated with the calculation of tax loss carryforwards, see Note 18 to the annual consolidated financial statements.

As of March 31, 2026 and December 31, 2025 the Group has classified as deferred tax asset 41 and 9, respectively, and as deferred tax liability 511 and 373, respectively, all of which arise from the net deferred tax balances of each of the individual companies included in these condensed interim consolidated financial statements.

As of March 31, 2026 and December 31, 2025, the causes that generated charges within "Other comprehensive income" line item in the statement of comprehensive income did not generate temporary differences subject to income tax.

**20. TAXES PAYABLE** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Non-current** | **Non-current** | **Current** | **Current** | **Non-current** | **Non-current** | **Current** | **Current** |
|  VAT |  |  |  | 55 |  |  |  | 41 |
|  Withholdings and perceptions |  |  |  | 69 |  |  |  | 77 |
|  Royalties |  |  |  | 97 |  |  |  | 51 |
|  Fuels tax |  | 19 |  | 88 |  | 18 |  | 14 |
|  Turnover tax |  |  |  | 6 |  |  |  | 7 |
|  Miscellaneous |  |  |  | 35 |  |  |  | 27 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217 |

---

**21. SALARIES AND SOCIAL SECURITY** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
|  | **Non-current** | **Current** | **Non-current** | **Current** |
|  Salaries and social security |  | 99 |  | 73 |
|  Bonuses and incentives provision |  | 173 |  | 166 |
|  Cash-settled share-based payments provision <sup>(1)</sup> | 95 |  | 58 |  |
|  Vacation provision |  | 62 |  | 61 |
|  Provision for severance indemnities <sup>(2)</sup> |  | 32 |  | 31 |
|  Miscellaneous | 3 | 5 | 5 | 5 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | 336 |

---

(1) Corresponds to the Value Generation Plan, see Note 38.

(2) Includes, mainly, severance indemnities related to the Mature Fields Project, see Note 11.a) to the annual consolidated
financial statements.

**22. LEASE LIABILITIES** 

The evolution of the Group's leases liabilities for the three-month period ended March 31, 2026 and for the fiscal year ended December 31, 2025, is as follows:

---

| | |
|:---|:---|
|  | **Lease liabilities** |
|  **Balance as of December 31, 2024** | 776 |
|  Increases of leases | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216 |
|  Financial accretions | 65 |
|  Decreases of leases | (80) |
|  Payments | (406) |
|  **Balance as of December 31, 2025** | 571 |
|  Increases of leases | 159 |
|  Financial accretions | 12 |
|  Decreases of leases | (6) |
|  Payments | (96) |
|  **Balance as of March 31, 2026** | 640 |

---

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**23. LOANS** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
|  | **Interest rate <sup>(1)</sup>** | **Interest rate <sup>(1)</sup>** |<br> **Maturity** | **Non-current** | **Current** | **Non-current** | **Current** |
|  **<u>Pesos:</u>** |  |  |  |  |  |  |  |
|  Financial loans | 12.57% | 43.04% | 2026-2027 | 28 | 55 | 61 | 24 |
|  Account overdrafts |  |  |  |  |  |  | 3 |
|  |  |  |  | 28 | 55 | 61 | 27 |
|  **<u>Currencies other than the peso:</u>** |  |  |  |  |  |  |  |
|  NO <sup>(2) (3)</sup> | 0.00% | 10.00% | 2026-2047 | 7831 | 1216 | 7466 | 1486 |
|  Exports pre-financing | 2.00% | 8.65% | 2026-2028 | 102 | 14 <sup>(5)</sup> | 153 | 197 |
|  Imports financing | 7.60% | 10.50% | 2026 |  | 22 |  | 20 |
|  Financial loans <sup>(4)</sup> | 3.00% | 9.25% | 2026-2030 | 565 | 244 | 546 | 561 |
|  Stock market promissory notes | 3.95% | 4.50% | 2026 |  | 40 |  | 64 |
|  |  |  |  | 8498 | 1536 | 8165 | 2328 |
|  |  |  |  | **8526** | **1591** | **8226** | **2355** |

---

(1) Nominal annual interest rate as of March 31, 2026.

(2) Disclosed net of 176 and 175 corresponding to YPF's own NO repurchased through open market transactions, as of
March 31, 2026 and December 31, 2025, respectively.

(3) Includes 1,218 and 1,475 as of March 31, 2026 and December 31, 2025, respectively, of nominal value that will
be canceled in pesos at the applicable exchange rate in accordance with the terms of the series issued.

(4) Includes 284 and 233 of loans granted by BNA as of March 31, 2026 and December 31, 2025, respectively.

(5) Includes 3 as of March 31, 2026 of pre-financing of exports granted by
BNA.

Set forth below is the evolution of the loans for three-month period ended March 31, 2026 and for the fiscal year ended December 31, 2025:

---

| | |
|:---|:---|
|  | **Loans** |
|  **Balance as of December 31, 2024** | 8942 |
|  Proceeds from loans | 4481 |
|  Payments of loans | (2871) |
|  Payments of interest | (670) |
|  Account overdrafts, net | 4 |
|  Accrued interest <sup>(1)</sup> | 691 |
|  Net exchange and translation differences | (14) |
|  Result from net monetary position <sup>(2)</sup> | (5) |
|  Increases from business combinations | 23 |
|  **Balance as of December 31, 2025** | 10581 |
|  Proceeds from loans | 769 |
|  Payments of loans | (1173) |
|  Payments of interest | (257) |
|  Account overdrafts, net | (3) |
|  Accrued interest <sup>(1)</sup> | 197 |
|  Net exchange and translation differences | 3 |
|  Result from net monetary position <sup>(2)</sup> |  |
|  Increases from business combinations | - |
|  **Balance as of March 31, 2026** | 10117 |

---

(1) Includes capitalized financial costs.

(2) Includes the adjustment for inflation of opening balances of loans of subsidiaries with the peso as functional currency
which was charged to "Other comprehensive income" in the statement of comprehensive income, and the adjustment for inflation of the period which was charged to net profit or loss in the statement of comprehensive income.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**23. LOANS (cont.)** 

Details regarding the NO of the Group are as follows:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | | | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
| <br>**Month** |<br>**Year** | **Principal value <sup>(3)</sup>** | **Principal value <sup>(3)</sup>** |<br>**Class** | **Interest rate <sup>(1)</sup>** | **Interest rate <sup>(1)</sup>** |<br>**Principal maturity** | **Non-current** | **Current** | **Non-current** | **Current** |
|  **YPF** |  |  |  |  |  |  |  |  |  |  |  |
|  - | 1998 | U.S. dollar | 15 |  | Fixed | 10.00% | 2028 | 15 | 1 | 15 |  |
|  July, December | 2017 | U.S. dollar | 644 | Class LIII | Fixed | 6.95% | 2027 | 647 | 8 | 648 | 19 |
|  December | 2017 | U.S. dollar | 537 | Class LIV | Fixed | 7.00% | 2047 | 530 | 11 | 530 | 2 |
|  June | 2019 | U.S. dollar | 399 | Class I | Fixed | 8.50% | 2029 | 398 | 9 | 397 |  |
|  February | 2021 | U.S. dollar | 748 | Class XVII | Fixed | 9.00% | 2029 | 537 | 232 | 537 | 216 |
|  February | 2021 | U.S. dollar | 576 | Class XVIII | Fixed | 7.00% | 2033 | 559 |  | 558 | 11 |
|  July | 2021 | U.S. dollar | 384 | Class XX | Fixed | 5.75% | 2032 | 302 | 59 | 329 | 65 |
|  January | 2023 | U.S. dollar | 230 | Class XXI |  |  |  |  |  |  | 154 |
|  April | 2023 | U.S. dollar | 38 | Class XXIV | Fixed | 1.00% | 2027 | 38 |  | 38 |  |
|  June | 2023 | U.S. dollar | 213 | Class XXV |  |  |  |  |  |  | 188 |
|  September | 2023 | U.S. dollar | 400 | Class XXVI | Fixed | 0.00% | 2028 | 400 |  | 400 |  |
|  October | 2023 | U.S. dollar | 128 | Class XXVII | Fixed | 0.00% | 2026 |  | 126 |  | 133 |
|  January | 2024 | U.S. dollar | 800 | Class XXVIII | Fixed | 9.50% | 2031 | 636 | 174 | 714 | 114 |
|  May | 2024 | U.S. dollar | 131 | Class XXIX |  |  |  |  |  |  | 132 |
|  July, April | 2024/25 | U.S. dollar | 389 | Class XXX | Fixed | 1.00% | 2026 |  | 303 |  | 370 |
|  September | 2024 | U.S. dollar | 540 | Class XXXI | Fixed | 8.75% | 2031 | 1045 | 5 | 1046 | 21 |
|  October | 2024 | U.S. dollar | 125 | Class XXXII | Fixed | 6.50% | 2028 | 125 | 2 | 125 | 2 |
|  October | 2024 | U.S. dollar | 25 | Class XXXIII | Fixed | 7.00% | 2028 | 25 | 1 | 25 |  |
|  January <sup>(4)</sup> | 2025 | U.S. dollar | 1632 | Class XXXIV | Fixed | 8.25% | 2034 | 1624 | 28 | 1080 | 42 |
|  February | 2025 | U.S. dollar | 140 | Class XXXV | Fixed | 6.25% | 2027 |  | 140 | 140 | 1 |
|  May <sup>(2)</sup> | 2025 | U.S. dollar | 140 | Class XXXVII | Fixed | 7.00% | 2027 | 139 | 1 | 139 | 2 |
|  July <sup>(2)</sup> | 2025 | U.S. dollar | 250 | Class XXXVIII | Fixed | 7.50% | 2027 | 248 | 4 | 248 | 4 |
|  July, August <sup>(2)</sup> | 2025 | U.S. dollar | 225 | Class XXXIX | Fixed | 8.75% | 2030 | 154 | 4 | 155 | 8 |
|  August <sup>(2)</sup> | 2025 | U.S. dollar | 51 | Class XL | Fixed | 7.50% | 2028 | 50 |  | 50 |  |
|  October <sup>(4)</sup> | 2025 | U.S. dollar | 99 | Class XLI | Fixed | 6.00% | 2027 |  | 100 | 98 | 1 |
|  December <sup>(4)</sup> | 2025 | U.S. dollar | 361 | Class XLII | Fixed | 7.00% | 2027 | 359 | 8 | 194 | 1 |
|  |  |  |  |  |  |  |  | 7831 | 1216 | 7466 | 1486 |

---

(1) Nominal annual interest rate as of March 31, 2026.

(2) During the three-month period ended March 31, 2026, the Group has fully complied with the use of proceeds
disclosed in the corresponding pricing supplements.

(3) Total nominal value issued without including the nominal values canceled through exchanges or repurchases, expressed in
millions.

(4) As of the date of issuance of these condensed interim consolidated financial statements, the Group has not yet
definitively applied the proceeds disclosed in the corresponding pricing supplements. These proceeds are temporally invested until the committed plan of application is fully complied.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**24. OTHER LIABILITIES** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
|  | **Non-current** | **Current** | **Non-current** | **Current** |
| &nbsp;&nbsp;&nbsp; Liabilities for concessions and assignment agreements | 97 | 272 | 91 | 162 |
| &nbsp;&nbsp;&nbsp; Liabilities for contractual claims <sup>(1)</sup> | 11 | 54 | 54 | 56 |
| &nbsp;&nbsp;&nbsp; Provision for operating optimizations <sup>(2)</sup> |  | 75 |  | 22 |
| &nbsp;&nbsp;&nbsp; Liabilities for agreements <sup>(3)</sup> | 238 | 131 | 227 | 158 |
| &nbsp;&nbsp;&nbsp; Miscellaneous | 1 | 2 | 1 | 1 |
|  | 347 | 534 | 373 | 399 |

---

(1) Corresponds to the liability arising from the settlement agreement entered into with Transportadora de Gas del Norte
S.A. for claims related to restrictions in the natural gas market for the period from 2007 to 2010.

(2) Includes, mainly, operating optimizations relating to Mature Fields Project, see Note 11.a.2) to the annual
consolidated financial statements and Note 12.a.2).

(3) Includes, mainly, the liability related to the assignment of the exploitation concessions in the Province of Santa Cruz
within the context of the Mature Fields Project, see Note 11.a.2) to the annual consolidated financial statements.

**25. ACCOUNTS PAYABLE** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
|  | **Non-current** | **Current** | **Non-current** | **Current** |
| &nbsp;&nbsp;&nbsp; Trade payable and related parties <sup>(1)</sup> | 4 | 2317 | 4 | 2172 |
| &nbsp;&nbsp;&nbsp; Guarantee deposits | 1 | 3 | 1 | 3 |
| &nbsp;&nbsp;&nbsp; Payables with partners of JO and Consortiums | 1 | 30 | 1 | 48 |
| &nbsp;&nbsp;&nbsp; Miscellaneous |  | 17 |  | 15 |
|  | 6 | 2367 | 6 | 2238 |

---

(1) See Note 37 for information about related parties.

**26. REVENUES** 

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** |
|  | **2026** | **2025** |
| &nbsp;&nbsp;&nbsp; Revenue from contracts with customers | 4943 | 4600 |
| &nbsp;&nbsp;&nbsp; National Government incentives <sup>(1)</sup> | 3 | 8 |
|  | 4946 | 4608 |

---

(1) See Note 37.

The Group's transactions and the main revenues by business segments are described in Note 6. In accordance with Note 25 to the annual consolidated financial statements, revenues from contracts with customers of the Group is classified into the following categories:

**•** **Breakdown of revenues** 

<u>Type of good or service</u> 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three-month periods ended March 31, 2026** | **For the three-month periods ended March 31, 2026** | **For the three-month periods ended March 31, 2026** | **For the three-month periods ended March 31, 2026** | **For the three-month periods ended March 31, 2026** | **For the three-month periods ended March 31, 2026** |
|  | **Upstream** | **Midstream<br>and<br>Downstream** | **LNG and<br>Integrated<br>Gas** | **New**<br>**Energies** | **Central<br>Administration<br>and Others** | **Total** |
| &nbsp;&nbsp;&nbsp; Diesel |  | 1745 |  |  |  | 1745 |
| &nbsp;&nbsp;&nbsp; Gasolines |  | 1131 |  |  |  | 1131 |
| &nbsp;&nbsp;&nbsp; Natural gas <sup>(1)</sup> | 7 | 5 | 298 | 153 |  | 463 |
| &nbsp;&nbsp;&nbsp; Crude oil | 9 | 257 |  |  |  | 266 |
| &nbsp;&nbsp;&nbsp; Jet fuel |  | 282 |  |  |  | 282 |
| &nbsp;&nbsp;&nbsp; Lubricants and by-products |  | 84 |  |  |  | 84 |
| &nbsp;&nbsp;&nbsp; LPG |  | 124 |  |  |  | 124 |
| &nbsp;&nbsp;&nbsp; Fuel oil |  | 25 |  |  |  | 25 |
| &nbsp;&nbsp;&nbsp; Petrochemicals |  | 104 |  |  |  | 104 |
| &nbsp;&nbsp;&nbsp; Fertilizers and crop protection products |  | 41 |  |  |  | 41 |
| &nbsp;&nbsp;&nbsp; Flours, oils and grains |  | 149 |  |  |  | 149 |
| &nbsp;&nbsp;&nbsp; Asphalts |  | 23 |  |  |  | 23 |
| &nbsp;&nbsp;&nbsp; Goods for resale at gas stations |  | 33 |  |  |  | 33 |
| &nbsp;&nbsp;&nbsp; Income from services |  |  |  |  | 30 | 30 |
| &nbsp;&nbsp;&nbsp; Income from construction contracts |  |  |  |  | 86 | 86 |
| &nbsp;&nbsp;&nbsp; Virgin naphtha |  | 39 |  |  |  | 39 |
| &nbsp;&nbsp;&nbsp; Petroleum coke |  | 74 |  |  |  | 74 |
| &nbsp;&nbsp;&nbsp; LNG regasification |  | 1 |  |  |  | 1 |
| &nbsp;&nbsp;&nbsp; Other goods and services | 17 | 95 | 3 | 50 | 78 | 243 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4943 |

---

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**26. REVENUES (cont.)** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three-month periods ended March 31, 2025** | **For the three-month periods ended March 31, 2025** | **For the three-month periods ended March 31, 2025** | **For the three-month periods ended March 31, 2025** | **For the three-month periods ended March 31, 2025** | **For the three-month periods ended March 31, 2025** |
|  | **Upstream** | **Midstream<br>and<br>Downstream** | **LNG and<br>Integrated<br>Gas** | **New<br>Energies** | **Central<br>Administration<br>and Others** | **Total** |
| &nbsp;&nbsp;&nbsp; Diesel |  | 1586 |  |  |  | 1586 |
| &nbsp;&nbsp;&nbsp; Gasolines |  | 1037 |  |  |  | 1037 |
| &nbsp;&nbsp;&nbsp; Natural gas <sup>(1)</sup> | 10 | 5 | 325 | 146 |  | 486 |
| &nbsp;&nbsp;&nbsp; Crude oil |  | 251 |  |  |  | 251 |
| &nbsp;&nbsp;&nbsp; Jet fuel |  | 213 |  |  |  | 213 |
| &nbsp;&nbsp;&nbsp; Lubricants and by-products |  | 87 |  |  |  | 87 |
| &nbsp;&nbsp;&nbsp; LPG |  | 141 |  |  |  | 141 |
| &nbsp;&nbsp;&nbsp; Fuel oil |  | 30 |  |  |  | 30 |
| &nbsp;&nbsp;&nbsp; Petrochemicals |  | 95 |  |  |  | 95 |
| &nbsp;&nbsp;&nbsp; Fertilizers and crop protection products |  | 34 |  |  |  | 34 |
| &nbsp;&nbsp;&nbsp; Flours, oils and grains |  | 139 |  |  |  | 139 |
| &nbsp;&nbsp;&nbsp; Asphalts |  | 25 |  |  |  | 25 |
| &nbsp;&nbsp;&nbsp; Goods for resale at gas stations |  | 36 |  |  |  | 36 |
| &nbsp;&nbsp;&nbsp; Income from services |  |  |  |  | 32 | 32 |
| &nbsp;&nbsp;&nbsp; Income from construction contracts |  |  |  |  | 96 | 96 |
| &nbsp;&nbsp;&nbsp; Virgin naphtha |  | 33 |  |  |  | 33 |
| &nbsp;&nbsp;&nbsp; Petroleum coke |  | 63 |  |  |  | 63 |
| &nbsp;&nbsp;&nbsp; LNG regasification |  | 1 |  |  |  | 1 |
| &nbsp;&nbsp;&nbsp; Other goods and services | 8 | 91 | 2 | 42 | 72 | 215 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 |

---

(1) Includes 316 and 342 corresponding to sales of natural gas produced by the Company for the three-month periods ended
March 31, 2026 and 2025, respectively.

<u>Sales channels</u> 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three-month periods ended March 31, 2026** | **For the three-month periods ended March 31, 2026** | **For the three-month periods ended March 31, 2026** | **For the three-month periods ended March 31, 2026** | **For the three-month periods ended March 31, 2026** | **For the three-month periods ended March 31, 2026** |
|  | **Upstream** | **Midstream<br>and<br>Downstream** | **LNG and<br>Integrated<br>Gas** | **New<br>Energies** | **Central<br>Administration<br>and Others** | **Total** |
| &nbsp;&nbsp;&nbsp; Gas stations |  | 1842 |  |  |  | 1842 |
| &nbsp;&nbsp;&nbsp; Power plants |  |  | 117 | 67 |  | 184 |
| &nbsp;&nbsp;&nbsp; Distribution companies |  |  | 35 |  |  | 35 |
| &nbsp;&nbsp;&nbsp; Retail distribution of natural gas |  |  |  | 90 |  | 90 |
| &nbsp;&nbsp;&nbsp; Industries, transport and aviation | 6 | 1017 | 148 | 19 |  | 1190 |
| &nbsp;&nbsp;&nbsp; Agriculture |  | 431 |  |  |  | 431 |
| &nbsp;&nbsp;&nbsp; Petrochemical industry |  | 128 |  |  |  | 128 |
| &nbsp;&nbsp;&nbsp; Trading |  | 545 |  |  |  | 545 |
| &nbsp;&nbsp;&nbsp; Oil companies | 9 | 115 |  |  |  | 124 |
| &nbsp;&nbsp;&nbsp; Commercialization of LPG |  | 58 |  |  |  | 58 |
| &nbsp;&nbsp;&nbsp; Other sales channels | 18 | 76 | 1 | 27 | 194 | 316 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4943 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three-month periods ended March 31, 2025** | **For the three-month periods ended March 31, 2025** | **For the three-month periods ended March 31, 2025** | **For the three-month periods ended March 31, 2025** | **For the three-month periods ended March 31, 2025** | **For the three-month periods ended March 31, 2025** |
|  | **Upstream** | **Midstream<br>and<br>Downstream** | **LNG and<br>Integrated<br>Gas** | **New<br>Energies** | **Central<br>Administration<br>and Others** | **Total** |
| &nbsp;&nbsp;&nbsp; Gas stations |  | 1740 |  |  |  | 1740 |
| &nbsp;&nbsp;&nbsp; Power plants |  |  | 127 | 18 |  | 145 |
| &nbsp;&nbsp;&nbsp; Distribution companies |  |  | 50 |  |  | 50 |
| &nbsp;&nbsp;&nbsp; Retail distribution of natural gas |  |  |  | 92 |  | 92 |
| &nbsp;&nbsp;&nbsp; Industries, transport and aviation | 10 | 968 | 150 | 70 |  | 1198 |
| &nbsp;&nbsp;&nbsp; Agriculture |  | 381 |  |  |  | 381 |
| &nbsp;&nbsp;&nbsp; Petrochemical industry |  | 138 |  |  |  | 138 |
| &nbsp;&nbsp;&nbsp; Trading |  | 466 |  |  |  | 466 |
| &nbsp;&nbsp;&nbsp; Oil companies |  | 50 |  |  |  | 50 |
| &nbsp;&nbsp;&nbsp; Commercialization of LPG |  | 66 |  |  |  | 66 |
| &nbsp;&nbsp;&nbsp; Other sales channels | 8 | 58 |  | 8 | 200 | 274 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 |

---

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**26. REVENUES (cont.)** 

<u>Target market</u> 

Sales in the domestic market amounted to 4,070 and 3,844 for the three-month periods ended March 31, 2026 and 2025, respectively.

Sales in the international market amounted to 873 and 756 for the three-month periods ended March 31, 2026 and 2025, respectively.

**•** **Contract balances** 

The following table presents information regarding credits, contract assets and contract liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
|  | **Non-current** | **Current** | **Non-current** | **Current** |
| &nbsp;&nbsp;&nbsp; Credits for contracts included in the item of "Trade receivables" | 12 | 1825 | 11 | 1678 |
| &nbsp;&nbsp;&nbsp; Contract assets |  | 5 |  | 3 |
| &nbsp;&nbsp;&nbsp; Contract liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117 |

---

Contract assets are mainly related to the activities carried out by the Group under construction contracts.

Contract liabilities are mainly related to advances received from customers under transportation service contracts.

For the three-month periods ended March 31, 2026 and 2025 the Group has recognized 36 and 42, respectively, in the "Revenues from contracts with customers" line under the "Revenues" line item in the statement of comprehensive income, which have been included in "Contract liabilities" line item in the statement of financial position at the beginning of each year.

**27. COSTS** 

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended<br>March 31,** | **For the three-month periods ended<br>March 31,** |
|  | **2026** | **2025** |
| &nbsp;&nbsp;&nbsp; Inventories at beginning of year | 1447 | 1546 |
| &nbsp;&nbsp;&nbsp; Purchases | 1277 | 1028 |
| &nbsp;&nbsp;&nbsp; Production costs <sup>(1)</sup> | 1916 | 2349 |
| &nbsp;&nbsp;&nbsp; Translation effect | 1 | (3) |
| &nbsp;&nbsp;&nbsp; Adjustment for inflation <sup>(2)</sup> | 5 | 5 |
| &nbsp;&nbsp;&nbsp; Other movements | 2 |  |
| &nbsp;&nbsp;&nbsp; Inventories at end of the period | (1460) | (1617) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3308 |

---

(1) See Note 28.

(2) Corresponds to the adjustment for inflation of opening balances of inventories of subsidiaries with the peso as
functional currency which was charged to "Other comprehensive income" in the statement of comprehensive income.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**28. EXPENSES BY NATURE** 

The Group presents the statement of comprehensive income by classifying expenses according to their function as part of the "Costs", "Administrative expenses", "Selling expenses" and "Exploration expenses" line items. The following additional information is disclosed as required on the nature of the expenses and their relation to the function within the Group for the three-month periods ended March 31, 2026 and 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **For the three-month periods ended March 31, 2026** | **For the three-month periods ended March 31, 2026** | **For the three-month periods ended March 31, 2026** | **For the three-month periods ended March 31, 2026** | **For the three-month periods ended March 31, 2026** |
|  | **Production <br>costs <sup>(2)</sup>** | **Administrative <br>expenses** | **Selling<br> expenses** | **Exploration <br>expenses** | **Total** |
|  Salaries and social security taxes | 216 | 108 | 43 | 3 | 370 |
|  Fees and compensation for services | 17 | 70 | 12 |  | 99 |
|  Other personnel expenses | 66 | 9 | 4 | 1 | 80 |
|  Taxes, charges and contributions | 32 | 50 | 222<sup>(1)</sup> |  | 304 |
|  Royalties, easements and fees | 264 |  | 1 | 1 | 266 |
|  Insurance | 8 | 1 |  |  | 9 |
|  Rental of real estate and equipment | 28 |  | 3 |  | 31 |
|  Survey expenses |  |  |  | 1 | 1 |
|  Depreciation of property, plant and equipment | 613 | 14 | 26 |  | 653 |
|  Amortization of intangible assets | 10 | 7 |  |  | 17 |
|  Depreciation of right-of-use assets | 70 |  | 3 |  | 73 |
|  Industrial inputs, consumable materials and supplies | 83 | 3 | 3 | 1 | 90 |
|  Operation services and other service contracts | 38 | 3 | 16 | 1 | 58 |
|  Preservation, repair and maintenance | 304 | 9 | 9 | 2 | 324 |
|  Unproductive exploratory drillings |  |  |  | 9 | 9 |
|  Transportation, products and charges | 146 |  | 115 |  | 261 |
|  Provision for doubtful receivables |  |  | 3 |  | 3 |
|  Publicity and advertising expenses |  | 13 | 10 |  | 23 |
|  Fuel, gas, energy and miscellaneous | 21 | 4 | 19 | 1 | 45 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2716 |

---

(1) Includes 63 corresponding to export withholdings and 137 corresponding to turnover tax.

(2) Includes 7 corresponding to research and development activities.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **For the three-month periods ended March 31, 2025** | **For the three-month periods ended March 31, 2025** | **For the three-month periods ended March 31, 2025** | **For the three-month periods ended March 31, 2025** | **For the three-month periods ended March 31, 2025** |
|  | **Production <br>costs <sup>(2)</sup>** | **Administrative <br>expenses** | **Selling<br> expenses** | **Exploration <br>expenses** | **Total** |
|  Salaries and social security taxes | 267 | 72 | 37 | 1 | 377 |
|  Fees and compensation for services | 24 | 70 | 13 |  | 107 |
|  Other personnel expenses | 79 | 9 | 3 | 1 | 92 |
|  Taxes, charges and contributions | 20 | 55 | 220<sup>(1)</sup> |  | 295 |
|  Royalties, easements and fees | 287 |  | 1 | 1 | 289 |
|  Insurance | 21 |  |  |  | 21 |
|  Rental of real estate and equipment | 67 |  | 4 |  | 71 |
|  Survey expenses |  |  |  | 16 | 16 |
|  Depreciation of property, plant and equipment | 683 | 10 | 25 |  | 718 |
|  Amortization of intangible assets | 9 | 4 | 1 |  | 14 |
|  Depreciation of right-of-use assets | 70 |  | 4 |  | 74 |
|  Industrial inputs, consumable materials and supplies | 121 | 1 | 4 | 1 | 127 |
|  Operation services and other service contracts | 150 | 4 | 12 | 4 | 170 |
|  Preservation, repair and maintenance | 402 | 8 | 11 | 5 | 426 |
|  Unproductive exploratory drillings |  |  |  |  |  |
|  Transportation, products and charges | 129 |  | 125 |  | 254 |
|  Provision for doubtful receivables |  |  | 4 |  | 4 |
|  Publicity and advertising expenses |  | 18 | 12 |  | 30 |
|  Fuel, gas, energy and miscellaneous | 20 | 7 | 21 | 1 | 49 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3134 |

---

(1) Includes 65 corresponding to export withholdings and 148 corresponding to turnover tax.

(2) Includes 8 corresponding to research and development activities.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**29. OTHER NET OPERATING RESULTS** 

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** |
|  | **2026** | **2025** |
|  Lawsuits | (13) | (8) |
|  Export Increase Program <sup>(1)</sup> |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
|  Result from sale of assets <sup>(2)</sup> | 4 | 14 |
|  Result from changes in fair value of assets held for sale <sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | (200) |
|  Provision for severance indemnities <sup>(2)</sup> |  | (26) |
|  Provision for operating optimizations <sup>(2)</sup> | (70) |  |
|  Provision for obsolescence of materials and equipment <sup>(2)</sup> | 9 | (136) |
|  Miscellaneous | (24) | 16 |
|  | (80) | (323) |

---

(1) See Note 35.j) to the annual consolidated financial statements.

(2) See Note 11.a.2) to the annual consolidated financial and Note 12.a.2).

**30. NET FINANCIAL RESULTS** 

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** |
|  | **2026** | **2025** |
|  <u>Financial income</u> |  |  |
|  Interest on cash and cash equivalents and investments in financial assets | 10 | 6 |
|  Interest on trade receivables | 17 | 9 |
|  Other financial income | 5 | 1 |
|  **Total financial income** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
|  <u>Financial costs</u> |  |  |
|  Loan interest | (194) | (162) |
|  Hydrocarbon well abandonment provision financial accretion <sup>(1)</sup> | (51) | (95) |
|  Other financial costs | (59) | (28) |
|  **Total financial costs** | (304) | (285) |
|  <u>Other financial results</u> |  |  |
|  Exchange differences generated by loans | (1) | 1 |
|  Exchange differences generated by cash and cash equivalents and investments in financial assets | 14 | (10) |
|  Other exchange differences, net | (69) | 13 |
|  Result on financial assets at fair value through profit or loss | 28 | 30 |
|  Result from derivative financial instruments | (6) | 1 |
|  Result from net monetary position | (21) | (11) |
|  **Total other financial results** | (55) | 24 |
|  **Total net financial results** | (327) | (245) |

---

(1) Includes 37 and 64 corresponding to the financial accretion of liabilities directly associated with assets held for
sale for the three-month periods ending March 31, 2026 and 2025, respectively, see Notes 2.b.13) and 11.a) to the annual consolidated financial statements.

**31. INVESTMENTS IN JOINT OPERATIONS AND CONSORTIUMS** 

The assets and liabilities as of March 31, 2026 and December 31, 2025, and expenses for the three-month periods ended March 31, 2026 and 2025, of JO and Consortiums in which the Group participates are as follows:

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
|  Non-current assets <sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6936 |
|  Current assets | 398 | 337 |
|  Total assets | 7484 | 7273 |
|  Non-current liabilities | 246 | 245 |
|  Current liabilities | 750 | 557 |
|  Total liabilities | 996 | 802 |

---

(1) Does not include charges for impairment of property, plant and equipment because they are recorded by the partners
participating in the JO and Consortiums.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** |
|  | **2026** | **2026** | **2025** | **2025** |
|  Production cost |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673 |
|  Exploration expenses |  | 3 |  | 4 |

---

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**32. SHAREHOLDERS' EQUITY** 

As of March 31, 2026, the Company's capital amounts to 3,921 and treasury shares amount to 12 represented by 393,312,793 book-entry shares of common stock and divided into four classes of shares (A, B, C and D), with a par value of 10 pesos and 1 vote per share. These shares are fully subscribed, paid-in and authorized for stock exchange listing.

As of March 31, 2026, there are 3,764 Class A outstanding shares. As long as any Class A share remains outstanding, the affirmative vote of the Argentine Government is required for: (i) mergers; (ii) acquisitions of more than 50% of YPF shares in an agreed or hostile bid; (iii) transfers of all the YPF's exploitation and exploration rights; (iv) the voluntary dissolution of YPF; (v) change of corporate and/or tax address outside Argentina; or (vi) make an acquisition that would result in the purchaser holding 15% or more of the Company's capital stock, or 20% or more of the outstanding Class D shares. Items (iii) and (iv) also require prior approval by the Argentine Congress.

During the three-month periods ended March 31, 2026 and 2025, the Company has not repurchased any of its own shares.

On April 30, 2026, the General Shareholders' Meeting was held, which approved the statutory financial statements of YPF (see Note 2.b)) corresponding to the year ended on December 31, 2025 and, additionally, approved the following in relation to the retained earnings: (i) completely release the reserve for purchase of treasury shares and the reserve for investments; (ii) absorb accumulated losses in retained earnings up to 756 (1,096,460 million of pesos) (iii) allocate the amount of 27 (38,468 million of pesos) to appropriate a reserve for purchase of treasury shares; and (iv) allocate the amount of 5,802 (8,415,450 million of pesos) to appropriate a reserve for investments.

**33. EARNINGS PER SHARE** 

The following table presents the net profit or loss attributable to shareholders of the parent company and the number of shares that have been used for the calculation of the basic and diluted earnings per share:

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** |
|  | **2026** | **2025** |
|  Net profit / (loss) | 404 | (16) |
|  Weighted average number of shares outstanding | 392082386 | 392203637 |
|  Basic and diluted earnings per share | 1.03 | (0.04) |

---

There are no financial instruments or other contracts outstanding issued by YPF that imply the issuance of potential ordinary shares, thus the diluted earnings per share equals the basic earnings per share.

**34. CONTINGENT ASSETS AND LIABILITIES** 

Contingent assets and liabilities are described in Note 33 to the annual consolidated financial statements. Updates for the three-month period ended March 31, 2026, are described below:

● **Petersen Energía Inversora, S.A.U. and Petersen Energía, S.A.U. (collectively, "Petersen") - Eton Park Capital Management, L.P., Eton Park Master Fund, LTD. and Eton Park Fund, L.P. (collectively, "Eton Park", and together with Petersen, the "Plaintiffs")** 

On March 10, 2026, in proceedings brought by Bainbridge Fund Ltd. against the Republic, the Republic filed a motion to stay its appeal of the turnover order with the consent of Bainbridge Fund Ltd., until confirmation of a settlement between the parties. On March 16, 2026, the Court of Appeals ordered that the Republic's appeal of the turnover order be held in abeyance pending settlement.

On March 18, 2026, the Court of Appeals stayed all post-judgment proceedings in the District Court, including discovery, pending the appeals of the District Court's September 15, 2023 judgment.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**34. CONTINGENT ASSETS AND LIABILITIES (cont.)** 

On March 27, 2026, briefing was completed in YPF's appeals of the District Court's September 17, 2025 and November 10, 2025 orders. Oral argument was calendared for April 16, 2026.

Likewise, on March 27, 2026, the Court of Appeals issued its decision in the appeals of the District Court's September 15, 2023 judgment. The Court of Appeals' decision affirmed the District Court's determination that YPF has no contractual liability and owes no damages to Plaintiffs, and affirmed the dismissal of all of Plaintiffs' claims against YPF. In addition, the Court of Appeals reversed the District Court's judgment against the Republic on the basis that Plaintiffs' contract claim is not cognizable under Argentine law and vacated the turnover order in Plaintiffs' proceedings. YPF is not a party to the turnover proceedings.

On April 2, 2026, the Court of Appeals directed the parties to submit letter briefing regarding whether, in light of its March 27, 2026 decision, the other pending appeals, including YPF's appeals, should be dismissed as moot.

On April 6, 2026, the District Court stayed all proceedings pending receipt of the mandate from the Court of Appeals and denied Plaintiffs' motion for sanctions and contempt against the Republic as moot, without prejudice to refiling. YPF is not a party to this motion.

On April 9, 2026, the Court of Appeals granted Plaintiffs' motion for an extension of time to file a petition for rehearing, and set May 8, 2026, as the deadline.

On April 10, 2026, after receiving briefs from all parties, the Court of Appeals adjourned the oral arguments scheduled for April 16 and held the pending appeals in abeyance, pending resolution of any rehearing or certiorari petitions related to the March 27, 2026 decision.

YPF will continue to defend itself in accordance with the applicable legal procedures and available defenses.

The Company will continue to reassess the status of these litigations and their possible impact on the results and financial situation of the Group, as needed.

**35. CONTRACTUAL COMMITMENTS** 

During the three-month period ended March 31, 2026 there were no significant updates to the contractual commitments described in Note 34 to the annual consolidated financial statements.

**36. MAIN REGULATIONS** 

Main regulations are described in Note 35 to the annual consolidated financial statements. Updates for the three-month period ended March 31, 2026, are described below:

**•** **Regulations applicable to natural gas and LNG activities** 

On March 13, 2026, in the context of the emergency in the national energy sector (see Note 35.e) to the annual consolidated financial statements), SE Resolution No. 66/2026 was published, establishing the "Reconfiguration of the Natural Gas Transportation System". On April 14, 2026, ENARGAS Resolution No. 409/2026 was published, which, among other things, instructs transporters and distributors to enter into new firm transportation contracts or to adjust existing ones in accordance with SE Resolution No. 66/2026. Likewise, on May 1, 2026, the applicable regulatory framework defined by ENARGAS entered into force.

**•** **Tax Regulations** 

On March 6, 2026, Law No. 27,802, the "Labor Modernization Law" was published, introducing amendments to the Income Tax Law. The law establishes that loss carryforwards arising in fiscal years beginning on or after January 1, 2025, shall be adjusted based on the variation in the CPI published by INDEC between the closing month of the fiscal year in which such loss carryforwards originated and the closing month of the fiscal year in which they are settled. Likewise, the Labor Modernization Law introduced changes to Argentina's labor regime related to the severance indemnity schemes, the collective negotiation frameworks, the calculation of interest in labor proceedings, among other things.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**37. BALANCES AND TRANSACTIONS WITH RELATED PARTIES** 

The tables below present the balances with associates and joint ventures as of March 31, 2026 and December 31, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
|  | **Other receivables** | **Other receivables** | **Trade<br>receivables** | **Investments in<br>financial assets** | **Accounts<br>payable** | **Contract<br>liabilities** | **Contract<br>assets** |
|  | **Non-Current** | **Current** | **Current** | **Current** | **Current** | **Current** | **Current** |
| &nbsp;&nbsp;&nbsp; **Joint Ventures:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; YPF EE |  | 6 | 7 | 4 | 32 |  |  |
| &nbsp;&nbsp;&nbsp; Profertil <sup>(1)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; MEGA |  |  | 41 |  | 5 |  | 2 |
| &nbsp;&nbsp;&nbsp; Refinor <sup>(1)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; OLCLP <sup>(1)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CT Barragán |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; OTA |  |  |  |  | 1 |  |  |
|  |  | 6 | 48 | 4 | 38 |  | 2 |
| &nbsp;&nbsp;&nbsp; **Associates:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CDS |  |  | 9 |  |  |  |  |
| &nbsp;&nbsp;&nbsp; YPF Gas |  |  | 11 |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Oldelval | 151 | 52 |  | 5 | 16 |  |  |
| &nbsp;&nbsp;&nbsp; Termap |  |  |  |  | 2 |  |  |
| &nbsp;&nbsp;&nbsp; GPA |  |  |  |  | 6 |  |  |
| &nbsp;&nbsp;&nbsp; OTAMERICA | 46 |  |  |  | 5 |  |  |
| &nbsp;&nbsp;&nbsp; Gas Austral |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; VMOS |  | 9 | 45 |  |  | 54 |  |
|  | 197 | 61 | 65 | 5 | 29 | 54 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Other receivables** | **Other receivables** | **Trade<br>receivables** | **Investments in<br>financial assets** | **Accounts<br>payable** | **Contract<br>liabilities** | **Contract<br>assets** |
|  | **Non-Current** | **Current** | **Current** | **Current** | **Current** | **Current** | **Current** |
| &nbsp;&nbsp;&nbsp; **Joint Ventures:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; YPF EE |  | 6 | 6 | 4 | 32 |  |  |
| &nbsp;&nbsp;&nbsp; Profertil <sup>(1)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; MEGA |  |  | 33 |  |  |  | 3 |
| &nbsp;&nbsp;&nbsp; Refinor <sup>(1)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; OLCLP <sup>(1)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CT Barragán |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; OTA |  | 1 |  |  | 4 |  |  |
|  |  | 7 | 39 | 4 | 36 |  | 3 |
| &nbsp;&nbsp;&nbsp; **Associates:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CDS |  |  | 1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp; YPF Gas |  |  | 10 |  | 1 |  |  |
| &nbsp;&nbsp;&nbsp; Oldelval | 154 | 13 |  | 4 | 33 |  |  |
| &nbsp;&nbsp;&nbsp; Termap |  |  |  |  | 2 |  |  |
| &nbsp;&nbsp;&nbsp; GPA |  |  |  |  | 2 |  |  |
| &nbsp;&nbsp;&nbsp; OTAMERICA | 46 |  | 1 | 1 | 3 |  |  |
| &nbsp;&nbsp;&nbsp; Gas Austral |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; VMOS |  | 16 | 53 |  |  | 44 |  |
|  | 200 | 29 | 65 | 5 | 41 | 44 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |

---

(1) See Note 3 to the annual consolidated financial statements.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**37. BALANCES AND TRANSACTIONS WITH RELATED PARTIES (cont.)** 

The table below presents the transactions with associates and joint ventures for the three-month periods ended March 31, 2026 and 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2026** | **2026** | **2025** | **2025** | **2025** |
|  | **Revenues** | **Costs and<br>expenses** | **Net interest<br>income (loss)** | **Revenues** | **Costs and<br>expenses** | **Net interest<br>income (loss)** |
| &nbsp;&nbsp;&nbsp; **Joint Ventures:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; YPF EE | 4 | 31 |  | 5 | 35 |  |
| &nbsp;&nbsp;&nbsp; Profertil <sup>(1)</sup> |  |  |  | 17 | 15 |  |
| &nbsp;&nbsp;&nbsp; MEGA | 68 | 16 |  | 85 | 1 |  |
| &nbsp;&nbsp;&nbsp; Refinor <sup>(1)</sup> |  |  |  | 16 | 2 |  |
| &nbsp;&nbsp;&nbsp; OLCLP <sup>(1)</sup>  |  |  |  |  | 3 |  |
| &nbsp;&nbsp;&nbsp; CT Barragán |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; OTA |  | 4 |  |  | 6 |  |
|  | 72 | 51 |  | 123 | 62 |  |
| &nbsp;&nbsp;&nbsp; **Associates:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; CDS | 7 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; YPF Gas | 16 |  | 1 | 19 | 1 |  |
| &nbsp;&nbsp;&nbsp; Oldelval |  | 35 |  |  | 18 |  |
| &nbsp;&nbsp;&nbsp; Termap |  | 5 |  |  | 6 |  |
| &nbsp;&nbsp;&nbsp; GPA |  | 6 |  |  | 6 |  |
| &nbsp;&nbsp;&nbsp; OTAMERICA |  | 9 |  |  | 6 |  |
| &nbsp;&nbsp;&nbsp; Gas Austral | 1 |  |  | 1 |  |  |
| &nbsp;&nbsp;&nbsp; VMOS | 51 |  |  | 4 |  |  |
|  | 75 | 55 | 1 | 24 | 37 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 |  |

---

(1) See Note 3 to the annual consolidated financial statements

Additionally, in the normal course of business and considering being the main energy group of Argentina, the Group's clients and suppliers portfolio encompasses both private sector as well as national public sector entities. As required by IAS 24 "Related party disclosures", among the major transactions above mentioned the most important are:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Balances <sup>(15)</sup>** | **Balances <sup>(15)</sup>** | **Transactions** | **Transactions** |
| | | **Receivables / (Liabilities)** | **Receivables / (Liabilities)** | **Income / (Costs)** | **Income / (Costs)** |
| | | **March 31,<br>2026** | **December 31,<br>2025** | **For the three-month periods ended<br>March 31,** | **For the three-month periods ended<br>March 31,** |
| <br>**Client / Suppliers** | <br>**Ref.** | **March 31,<br>2026** | **December 31,<br>2025** | **2026** | **2025** |
| &nbsp;&nbsp;&nbsp;&nbsp; SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) (14) | 31 | 41 | 2 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp; SE | (2) (14) |  | 1 |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; SE | (3) (14) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; SE | (4) (14) | 3 | 4 | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; SE | (5) (14) | 5 | 5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Secretary of Transport | (6) (14) | 4 | 4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Secretary of Industry | (7) (14) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; CAMMESA | (8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114 | 87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 |
| &nbsp;&nbsp;&nbsp;&nbsp; CAMMESA | (9) | (1) | (1) | (4) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; ENARSA | (10) | 69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127 | 20 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp; ENARSA | (11) | (34) | (33) | (2) | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp; Aerolíneas Argentinas S.A. | (12) | 29 | 33 | 75 | 80 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aerolíneas Argentinas S.A. | (13) |  |  |  |  |

---

(1) Benefits for the Plan GasAr 2020-2024 and Plan GasAr 2023-2028, see Note 35.f.1) to the annual consolidated financial
statements.

(2) Benefits for the propane gas supply agreement for undiluted propane gas distribution networks, see Note 35.f.2)
"Propane Network Agreement" section to the annual consolidated financial statements.

(3) Benefits for the recognition of the financial cost generated by payment deferral by providers of the distribution service
of natural gas and undiluted propane gas through networks, see Note 36 to the annual consolidated financial statements.

(4) Compensation for the lower income that natural gas distribution services by companies receive from their users, see Note
35. c.3) to the annual consolidated financial statements.

(5) Compensation by Decree No. 1,053/2018, see Note 35.c.1) to the annual consolidated financial statements.

(6) Compensation for providing diesel to public transport of passengers at a differential price, see Note 36 to the annual
consolidated financial statements.

(7) Incentive for domestic manufacturing of capital goods, for the benefit of AESA, see Note 36 to the annual consolidated
financial statements.

(8) Sales of fuel oil, diesel, natural gas and transportation and distribution services.

(9) Purchases of electrical energy.

(10) Sales of natural gas and provision of regasification service of LNG and construction inspection service.

(11) Purchases of natural gas and crude oil.

(12) Sales of jet fuel.

(13) Purchases of miles for YPF Serviclub Program and publicity expenses.

(14) Income from incentives recognized according to IAS 20, see Note 2.b.12) "Income from Government incentive
programs" section to the annual consolidated financial statements.

(15) Do not include, if applicable, the provision for doubtful trade receivables.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**37. BALANCES AND TRANSACTIONS WITH RELATED PARTIES (cont.)** 

Additionally, the Group has entered into certain financing and insurance transactions with entities related to the national public sector. Such transactions consist of certain financial transactions that are described in Notes 16, 17 and 23 and transactions with Nación Seguros S.A. related to certain insurance policies contracts.

As of March 31, 2026, the Group holds Bonds of the Argentine Republic 2029 and 2030, Government Bonds and BCRA bonds (BOPREAL, for its acronym in spanish) identified as investments in financial assets (see Note 16).

In addition, in connection with the investment agreement signed between YPF and subsidiaries of Chevron Corporation, YPF has an indirect non-controlling interest in Compañía de Hidrocarburo No Convencional S.R.L. ("CHNC"). During the three-month periods ended March 31, 2026 and 2025, YPF and CHNC carried out transactions such as the purchases of crude oil by YPF for 22 and 133, respectively, among others. These transactions were consummated in accordance with the general and regulatory conditions of the market. As a result, as of March 31, 2026, YPF has a net balance receivable from CHNC of 1 and as of December 31, 2025 the net balance payable to CHNC amounted to 53. See Note 36 to the annual consolidated financial statements.

The table below presents the accrued compensation for the YPF's key management personnel, including members of the Board of Directors and first-line executives, managers with executive functions appointed by the Board of Directors, for the three-month periods ended March 31, 2026 and 2025:

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** |
|  | **2026** | **2025** |
|  Short-term benefits <sup>(1)</sup> | 8 | 6 |
|  Share-based benefits <sup>(2)</sup> | 31 | 3 |
|  Post-retirement benefits |  |  |
|  | 39 | 9 |

---

(1) Does not include social security contributions of 2 and 1 for the three-month periods ended March 31, 2026 and 2025,
respectively.

(2) Include Value Generation Plan, see Note 38 and Note 37 to the annual consolidated financial statements.

**38.** **EMPLOYEE BENEFIT PLANS AND SIMILAR OBLIGATIONS** 

Note 37 to the annual consolidated financial statements describes the main characteristics and accounting treatment for employee benefit plans and similar obligations implemented by the Group.

<u>Retirement plan</u> 

The amount charged to expense related to the Retirement Plan was 1 and 1 for the three-month periods ended March 31, 2026 and 2025, respectively.

<u>Short-term benefit programs</u> 

The amount charged to expense related to the short-term benefit programs was 36 and 38 for the three-month periods ended March 31, 2026 and 2025 respectively.

<u>Share-based benefit plans</u> 

As of March 31, 2026, there are 4.6 million number of PSARs outstanding with and a weighted average fair value of US$29.95 per PSARs. The charge to income related to the Value Creation Plan was a loss of 37 and a recovery of 1, for the three-month periods ended March 31, 2026 and 2025, respectively. As of December 31, 2025, weighted average fair value was US$20.84 per PSARs.

The amount charged to expense in relation with the remaining share-based benefit plans was 3 and 2 to be settled in equity instruments, for the three-month periods ended March 31, 2026 and 2025, respectively.

Note 2.b.11) to the annual consolidated financial statements describes the accounting policies for share-based benefit plans. Repurchases of treasury shares are disclosed in Note 32.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**39. SUBSEQUENT EVENTS** 

<u>Issuance of ON</u> 

On April 14, 2026, the Company issued in the local market Class XLIII NO denominated and payable in U.S. dollars for a nominal amount of 120, maturing in April 2030 and semi-annual interest payments at a fixed nominal annual rate of 5.5% from the ninth month.

<u>Stock split on YPF's ordinary shares</u> 

On April 30, 2026, the General Shareholders' Meeting approved the modification of the nominal value of the Company's shares from $10 (ten pesos) to $1 (one peso) per share, which means that for every share with a nominal value of $10 currently outstanding, 10 shares with a nominal value of $1 each will be issued, while the Company's capital stock remains unchanged ("Split"). Likewise, the Split does not imply a change in the proportion of each shareholder's equity interest, but only in the number of shares outstanding and their nominal value per share. The Split will also not alter the economic or voting rights of the shareholders.

As of the date of issuance of these condensed interim consolidated financial statements, there have been no other material subsequent events additional to those mentioned in notes whose effect on Group's financial position, results of operations or their disclosure in notes to the financial statements for the period ended as of March 31, 2026, should have been considered in said financial statements under IFRS.

These condensed interim consolidated financial statements were approved by the Board of Directors' meeting and authorized to be issued on May 7, 2026.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)
![LOGO](g279826g26q61.jpg)

**YPF SOCIEDAD ANONIMA** 

**CONDENSED INTERIM CONSOLIDATED** 

**FINANCIAL STATEMENTS AS OF MARCH 31, 2026** 

**AND COMPARATIVE INFORMATION (UNAUDITED)** 

------

##### [**Table of Contents**](#toc)
English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| <br> **YPF SOCIEDAD ANONIMA**<br> **CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)** | ![LOGO](g279826g67z24.jpg) |

---

**CONTENT** 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Note**  | **Description** | **Page** |
|  | &nbsp;&nbsp;&nbsp; [Glossary of terms](#item1toc279826_1) | 1 |
|  | &nbsp;&nbsp;&nbsp; [Legal information](#item1toc279826_2) | 2 |
|  | &nbsp;&nbsp;&nbsp; [Condensed interim consolidated statements of financial position](#item1toc279826_3) | 3 |
|  | &nbsp;&nbsp;&nbsp; [Condensed interim consolidated statements of comprehensive income](#item1toc279826_4) | 4 |
|  | &nbsp;&nbsp;&nbsp; [Condensed interim consolidated statements of changes in shareholders' equity](#item1toc279826_5) | 5 |
|  | &nbsp;&nbsp;&nbsp; [Condensed interim consolidated statements of cash flows](#item1toc279826_6) | 7 |
|  | &nbsp;&nbsp;&nbsp; [Notes to the condensed interim consolidated financial statements:](#item1toc279826_7) |  |
| 1 | &nbsp;&nbsp;&nbsp; [General information, structure and organization of the Group's business](#item1toc279826_8) | 8 |
| 2 | &nbsp;&nbsp;&nbsp; [Basis of preparation of the condensed interim consolidated financial statements](#item1toc279826_9) | 9 |
| 3 | &nbsp;&nbsp;&nbsp; [Seasonality of operations](#item1toc279826_10) | 10 |
| 4 | &nbsp;&nbsp;&nbsp; [Acquisitions and disposals](#item1toc279826_11) | 10 |
| 5 | &nbsp;&nbsp;&nbsp; [Financial risk management](#item1toc279826_12) | 10 |
| 6 | &nbsp;&nbsp;&nbsp; [Business segment information](#item1toc279826_13) | 11 |
| 7 | &nbsp;&nbsp;&nbsp; [Financial instruments by category](#item1toc279826_14) | 15 |
| 8 | &nbsp;&nbsp;&nbsp; [Intangible assets](#item1toc279826_15) | 15 |
| 9 | &nbsp;&nbsp;&nbsp; [Property, plant and equipment](#item1toc279826_16) | 16 |
| 10 | &nbsp;&nbsp;&nbsp; [Right-of-use assets](#item1toc279826_17) | 20 |
| 11 | &nbsp;&nbsp;&nbsp; [Investments in associates and joint ventures](#item1toc279826_18) | 20 |
| 12 | &nbsp;&nbsp;&nbsp; [Assets held for sale and associated liabilities](#item1toc279826_19) | 21 |
| 13 | &nbsp;&nbsp;&nbsp; [Inventories](#item1toc279826_20) | 22 |
| 14 | &nbsp;&nbsp;&nbsp; [Other receivables](#item1toc279826_21) | 23 |
| 15 | &nbsp;&nbsp;&nbsp; [Trade receivables](#item1toc279826_22) | 23 |
| 16 | &nbsp;&nbsp;&nbsp; [Investments in financial assets](#item1toc279826_23) | 23 |
| 17 | &nbsp;&nbsp;&nbsp; [Cash and cash equivalents](#item1toc279826_24) | 24 |
| 18 | &nbsp;&nbsp;&nbsp; [Provisions](#item1toc279826_25) | 24 |
| 19 | &nbsp;&nbsp;&nbsp; [Income tax](#item1toc279826_26) | 24 |
| 20 | &nbsp;&nbsp;&nbsp; [Taxes payable](#item1toc279826_27) | 25 |
| 21 | &nbsp;&nbsp;&nbsp; [Salaries and social security](#item1toc279826_28) | 25 |
| 22 | &nbsp;&nbsp;&nbsp; [Lease liabilities](#item1toc279826_29) | 25 |
| 23 | &nbsp;&nbsp;&nbsp; [Loans](#item1toc279826_30) | 26 |
| 24 | &nbsp;&nbsp;&nbsp; [Other liabilities](#item1toc279826_31) | 28 |
| 25 | &nbsp;&nbsp;&nbsp; [Accounts payable](#item1toc279826_32) | 28 |
| 26 | &nbsp;&nbsp;&nbsp; [Revenues](#item1toc279826_33) | 28 |
| 27 | &nbsp;&nbsp;&nbsp; [Costs](#item1toc279826_34) | 30 |
| 28 | &nbsp;&nbsp;&nbsp; [Expenses by nature](#item1toc279826_35) | 31 |
| 29 | &nbsp;&nbsp;&nbsp; [Other net operating results](#item1toc279826_36) | 32 |
| 30 | &nbsp;&nbsp;&nbsp; [Net financial results](#item1toc279826_37) | 32 |
| 31 | &nbsp;&nbsp;&nbsp; [Investments in joint operations and consortiums](#item1toc279826_38) | 32 |
| 32 | &nbsp;&nbsp;&nbsp; [Shareholders' equity](#item1toc279826_39) | 33 |
| 33 | &nbsp;&nbsp;&nbsp; [Earnings per share](#item1toc279826_40) | 33 |
| 34 | &nbsp;&nbsp;&nbsp; [Contingent assets and liabilities](#item1toc279826_41) | 33 |
| 35 | &nbsp;&nbsp;&nbsp; [Contractual commitments](#item1toc279826_42) | 34 |
| 36 | &nbsp;&nbsp;&nbsp; [Main regulations](#item1toc279826_43) | 34 |
| 37 | &nbsp;&nbsp;&nbsp; [Balances and transactions with related parties](#item1toc279826_44) | 36 |
| 38 | &nbsp;&nbsp;&nbsp; [Employee benefit plans and similar obligations](#item1toc279826_45) | 38 |
| 39 | &nbsp;&nbsp;&nbsp; [Assets and liabilities in currencies other than the peso](#item1toc279826_46) | 39 |
| 40 | &nbsp;&nbsp;&nbsp; [Subsequent events](#item1toc279826_47) | 40 |

---

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)** | ![LOGO](g279826g0512075808840.jpg) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**GLOSSARY OF TERMS** 

---

| | |
|:---|:---|
| **Term** | **Definition** |
| ADR | American Depositary Receipt |
| ADS | American Depositary Share |
| AESA | A-Evangelista S.A. |
| AFIP | Argentine Tax Authority (Administración Federal de Ingresos Públicos) |
| ANSES | National Administration of Social Security (Administración Nacional de la Seguridad Social) |
| ARCA | Collection Customs and Control Agency (Agencia de Recaudación y Control Aduanero) (formerly "AFIP") |
| Argentina LNG | Argentina LNG S.A.U. |
| Associate | Company over which YPF has significant influence as provided for in IAS 28 "Investments in associates and joint ventures" |
| BCRA | Central Bank of the Argentine Republic (Banco Central de la República Argentina) |
| BNA | Bank of the Argentine Nation (Banco de la Nación Argentina) |
| BO | Official Gazette of the Argentine Republic (Boletín Oficial de la República Argentina) |
| CAMMESA | Compañía Administradora del Mercado Mayorista Eléctrico S.A. |
| CAN | Northern Argentine basin (cuenca Argentina Norte) |
| CDS | Central Dock Sud S.A. |
| CENCH | Hydrocarbon Unconventional Exploitation Concessions |
| CGU | Cash-generating unit |
| CNDC | Argentine Antitrust Authority (Comisión Nacional de Defensa de la Competencia) |
| CNV | Argentine Securities Commission (Comisión Nacional de Valores) |
| CSJN | Argentine Supreme Court of Justice (Corte Suprema de Justicia de la Nación Argentina) |
| CT Barragán | CT Barragán S.A. |
| Eleran | Eleran Inversiones 2011 S.A.U. |
| ENARGAS | Argentine Gas Regulator (Ente Nacional Regulador del Gas) |
| ENARSA | Energía Argentina S.A. (formerly Integración Energética Argentina S.A., "IEASA") |
| ENRE | National Electricity Regulatory Agency |
| FOB | Free on board |
| Gas Austral | Gas Austral S.A. |
| GPA | Gasoducto del Pacífico (Argentina) S.A. |
| Group | YPF and its subsidiaries |
| IAS | International Accounting Standard |
| IASB | International Accounting Standards Board |
| IFRIC | IFRS Interpretations Committe |
| IFRS | IFRS Accounting Standards |
| INDEC | National Institute of Statistics and Census (Instituto Nacional de Estadística y Censos) |
| IPC | Consumer Price Index (Índice de Precios al Consumidor) published by INDEC |
| JO | Joint operation (Unión Transitoria) |
| Joint venture | Company jointly owned by YPF as provided for in IFRS 11 "Joint arrangements" |
| LGS | General Corporations Law (Ley General de Sociedades) No. 19,550 |
| LNG | Liquefied natural gas |
| LPG | Liquefied petroleum gas |
| MEGA | Compañía Mega S.A. |
| Metroenergía | Metroenergía S.A. |
| Metrogas | Metrogas S.A. |
| MINEM | Ministry of Energy and Mining (Ministerio de Energía y Minería) |
| MLO | West Malvinas basin (cuenca Malvinas Oeste) |
| MTN | Medium-term note |
| NO | Negotiable obligations |
| OLCLP | Oleoducto Loma Campana - Lago Pellegrini S.A.U. |
| Oldelval | Oleoductos del Valle S.A. |
| OPESSA | Operadora de Estaciones de Servicios S.A. |
| OTA | OleoductoTrasandino (Argentina) S.A. |
| OTAMERICA | OTAMERICA Ebytem S.A. |
| OTC | OleoductoTrasandino (Chile) S.A. |
| PEN | National Executive Branch (Poder Ejecutivo Nacional) |
| Peso | Argentine peso |
| PIST | Transportation system entry point (Punto de ingreso al sistema de transporte) |
| Profertil | Profertil S.A. |
| PSAR | Performance stock appreciation rights |
| Refinor | Refinería del Norte S.A. |
| RQT | Quinquennial Tariff Review (Revisión Quinquenal Tarifaria) |
| RTI | Integral Tariff Review (Revisión Tarifaria Integral) |
| RTT | Transitional Tariff Regime (Régimen Tarifario de Transición) |
| SC Gas | SC Gas S.A.U. |
| SE | Secretariat of Energy (Secretaría de Energía) (formerly "MINEM" and "SGE") |
| SEC | U.S. Securities and Exchange Commission |
| SEE | Secretariat of Electric Energy (Secretaría de Energía Eléctrica) |
| SGE | Government Secretariat of Energy (Secretaría de Gobierno de Energía) |
| SRH | Hydrocarbon Resources Secretariat (Secretaría de Recursos Hidrocarburíferos) |
| SSHyC | Under-Secretariat of Hydrocarbons and Fuels (Subsecretaría de Hidrocarburos y Combustibles) |
| Subsidiary | Company controlled by YPF as provided for in IFRS 10 "Consolidated financial statements" |
| Sur Inversiones Energéticas | Sur Inversiones Energéticas S.A.U. |
| Sustentator | Sustentator S.A. |
| Termap | Terminales Marítimas Patagónicas S.A. |
| Turnover tax | Impuesto a los ingresos brutos |
| U.S. dollar | United States dollar |
| UNG | Unaccounted natural gas |
| US$ | United States dollar |
| US$/bbl | U.S. dollar per barrel |
| UVA | Unit of Purchasing Power |
| VAT | Value added tax |
| VMI | Vaca Muerta Inversiones S.A.U. |
| VMOS | VMOS S.A. |
| WEM | Wholesale Electricity Market |
| YPF Chile | YPF Chile S.A. |
| YPF EE | YPF Energía Eléctrica S.A. |
| YPF Gas | YPF Gas S.A. |
| YPF or the Company | YPF S.A. |
| YPF Ventures | YPF Ventures S.A.U. |
| Y-TEC | YPF Tecnología S.A. |
| Y-LUZ | Y-LUZ Inversora S.A.U. controlled by YPF EE |

---

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)** | ![LOGO](g279826g0512075808840.jpg) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**LEGAL INFORMATION** 

<u>Legal address</u> 

Macacha Güemes 515 - Ciudad Autónoma de Buenos Aires, Argentina.

<u>Fiscal year</u> 

No. 50 beginning on January 1, 2026.

<u>Main business of the Company</u> 

The Company's purpose shall be to perform, on its own, through third parties or in association with third parties, the survey, exploration and exploitation of liquid and/or gaseous hydrocarbon fields and other minerals, as well as the industrialization, transportation and commercialization of these products and their direct and indirect by-products, including petrochemical products, chemical products, whether derived from hydrocarbons or not, and non-fossil fuels, biofuels and their components, as well as the generation of electrical energy through the use of hydrocarbons, to which effect it may manufacture, use, purchase, sell, exchange, import or export them. It shall also be the Company's purpose the rendering, on its own, through a controlled company or in association with third parties, of telecommunications services in all forms and modalities authorized by the legislation in force after applying for the relevant licenses as required by the regulatory framework, as well as the production, industrialization, processing, commercialization, conditioning, transportation and stockpiling of grains and products derived from grains, as well as any other activity complementary to its industrial and commercial business or any activity which may be necessary to attain its object. To better achieve these purposes, it may set up, become associated with or have an interest in any public or private entity domiciled in Argentina or abroad, within the limits set forth in the Bylaws.

<u>Filing with the Public Registry of Commerce</u> 

Bylaws filed on February 5, 1991, under No. 404 of the Book 108 of Corporations, Volume A, with the Public Registry of Commerce of the Autonomous City of Buenos Aires, in charge of the Argentine Registry of Companies (Inspección General de Justicia); and Bylaws in substitution of previous Bylaws, filed on June 15, 1993, under No. 5,109 of the Book 113 of Corporations, Volume A, with the above mentioned Public Registry.

<u>Duration of the Company</u> 

Through June 15, 2093.

<u>Last amendment to the Bylaws</u> 

January 26, 2024, registered with the Public Registry of Commerce of the Autonomous City of Buenos Aires in charge of the Argentine Registry of Companies (Inspección General de Justicia) on March 15, 2024, under No. 4,735, Book 116 of Corporations. In addition, an amendment approved by the General Shareholders' Meeting on April 30, 2026, is currently in the process of being registered in the aforementioned Public Registry.

<u>Capital structure</u> 

393,312,793 shares of common stock, $10 par value and 1 vote per share.

<u>Subscribed, paid-in and authorized for stock exchange listing (in pesos)</u> 

3,933,127,930.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION**<br> **AS OF MARCH 31, 2026 AND DECEMBER 31, 2025 (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos) | ![LOGO](g279826g0512075808840.jpg) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **Notes** | **March 31,<br>2026** | **December 31,<br>2025** |
|  **ASSETS** |  |  |  |
|  **Non-current assets** |  |  |  |
|  Intangible assets | 8 | 1478362 | 1548809 |
|  Property, plant and equipment | 9 | 26940626 | 27682554 |
|  Right-of-use assets | 10 | 838745 | 779202 |
|  Investments in associates and joint ventures | 11 | 2365104 | 2334746 |
|  Deferred income tax assets, net | 19 | 56478 | 13055 |
|  Other receivables | 14 | 875961 | 940204 |
|  Trade receivables | 15 | 8707 | 7497 |
|  **Total non-current assets** |  | **32563983** | **33306067** |
|  **Current assets** |  |  |  |
|  Assets held for sale | 12 | 1318789 | 1479221 |
|  Inventories | 13 | 2011757 | 2098590 |
|  Contract assets | 26 | 7232 | 4522 |
|  Other receivables | 14 | 1128959 | 1681800 |
|  Trade receivables | 15 | 2456372 | 2399905 |
|  Investments in financial assets | 16 | 504765 | 380569 |
|  Cash and cash equivalents | 17 | 1825751 | 1352703 |
|  **Total current assets** |  | **9253625** | **9397310** |
|  **TOTAL ASSETS** |  | **41817608** | **42703377** |
|  **SHAREHOLDERS' EQUITY** |  |  |  |
|  Capital |  | 3921 | 3921 |
|  Adjustment to capital |  | 6081 | 6081 |
|  Treasury shares |  | 12 | 12 |
|  Adjustment to treasury shares |  | 20 | 20 |
|  Share-based benefit plans |  | 14020 | 9323 |
|  Acquisition cost of treasury shares |  | (34414) | (34274) |
|  Share trading premiums |  | 13912 | 13707 |
|  Issuance premiums |  | 640 | 640 |
|  Legal reserve |  | 1083622 | 1141047 |
|  Reserve for investments |  | 9072843 | 9553655 |
|  Reserve for purchase of treasury shares |  | 45723 | 48146 |
|  Other comprehensive income |  | 5934760 | 6039399 |
|  Unappropriated retained earnings and losses |  | (485606) | (1096460) |
|  **Shareholders' equity attributable to shareholders of the parent company** |  | **15655534** | **15685217** |
|  Non-controlling interest |  | 370984 | 333766 |
|  **TOTAL SHAREHOLDERS' EQUITY** |  | **16026518** | **16018983** |
|  **LIABILITIES** |  |  |  |
|  **Non-current liabilities** |  |  |  |
|  Provisions | 18 | 880641 | 884901 |
|  Contract liabilities | 26 | 291460 | 261205 |
|  Deferred income tax liabilities, net | 19 | 703603 | 541035 |
|  Income tax liability |  | 1192977 | 1204132 |
|  Taxes payable | 20 | 26832 | 26749 |
|  Salaries and social security | 21 | 135244 | 90400 |
|  Lease liabilities | 22 | 457557 | 396386 |
|  Loans | 23 | 11745180 | 11931848 |
|  Other liabilities | 24 | 477053 | 541608 |
|  Accounts payable | 25 | 8013 | 8404 |
|  **Total non-current liabilities** |  | **15918560** | **15886668** |
|  **Current liabilities** |  |  |  |
|  Liabilities directly associated with assets held for sale | 12 | 1459695 | 1713545 |
|  Provisions | 18 | 342003 | 332986 |
|  Contract liabilities | 26 | 199670 | 169937 |
|  Income tax liability |  | 266278 | 105232 |
|  Taxes payable | 20 | 482453 | 315457 |
|  Salaries and social security | 21 | 511267 | 486905 |
|  Lease liabilities | 22 | 424017 | 432437 |
|  Loans | 23 | 2190533 | 3415028 |
|  Other liabilities | 24 | 735438 | 580311 |
|  Accounts payable | 25 | 3261176 | 3245888 |
|  **Total current liabilities** |  | **9872530** | **10797726** |
|  **TOTAL LIABILITIES** |  | **25791090** | **26684394** |
|  **TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY** |  | **41817608** | **42703377** |

---

Accompanying notes are an integral part of these condensed interim consolidated financial statements.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME**<br> **FOR THE THREE MONTH PERIODS ENDED MARCH 31, 2026 (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except per share information expressed in Argentine pesos) | ![LOGO](g279826g0512075808840.jpg) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | | **For the three-month<br>periods ended March 31,** | **For the three-month<br>periods ended March 31,** |
|  |<br> **Notes** | **2026** | **2025** |
| **Net income** |  |  |  |
|  Revenues | 26 | 6956434 | 4870820 |
|  Costs | 27 | (4478072) | (3506382) |
|  **Gross profit** |  | **2478362** | **1364438** |
|  Selling expenses | 28 | (688015) | (528861) |
|  Administrative expenses | 28 | (413461) | (268976) |
|  Exploration expenses | 28 | (27517) | (32495) |
|  Other net operating results | 29 | (107510) | (342297) |
|  **Operating profit** |  | **1241859** | **191809** |
|  Income from equity interests in associates and joint ventures | 11 | 166345 | 86034 |
|  Financial income | 30 | 46428 | 17677 |
|  Financial costs | 30 | (422202) | (296717) |
|  Other financial results | 30 | (77696) | 28947 |
|  Net financial results | 30 | (453470) | (250093) |
|  **Net profit before income tax** |  | **954734** | **27750** |
|  Income tax | 19 | (342873) | (40720) |
|  **Net profit / (loss) for the period** |  | **611861** | **(12970)** |
|  **<u>Other comprehensive income</u>** |  |  |  |
|  *Items that may be reclassified subsequently to profit or loss:* |  |  |  |
|  Translation effect from subsidiaries, associates and joint ventures |  | 69617 | (40032) |
|  Result from net monetary position in subsidiaries, associates and joint ventures <sup>(1)</sup> |  | 161540 | 98348 |
|  *Items that may not be reclassified subsequently to profit or loss:* |  |  |  |
|  Translation differences from YPF <sup>(2)</sup> |  | (840245) | 492110 |
|  **Other comprehensive income for the period** |  | **(609088)** | **550426** |
|  **Total comprehensive income for the period** |  | **2773** | **537456** |
|  **Net profit / (loss) for the period attributable to:** |  |  |  |
|  Shareholders of the parent company |  | 606289 | (19864) |
|  Non-controlling interest |  | 5572 | 6894 |
|  **Other comprehensive income for the period attributable to:** |  |  |  |
|  Shareholders of the parent company |  | (640734) | 531518 |
|  Non-controlling interest |  | 31646 | 18908 |
|  **Total comprehensive income for the period attributable to:** |  |  |  |
|  Shareholders of the parent company |  | (34445) | 511654 |
|  Non-controlling interest |  | 37218 | 25802 |
|  **Earnings per share attributable to shareholders of the parent company:** |  |  |  |
|  Basic and diluted | 33 | 1546.33 | (50.65) |

---

(1) Results generated by subsidiaries, associates and joint ventures with the peso as functional currency, see Note 2.b.1) to
the annual consolidated financial statements.

(2) Correspond to the effect of the translation to YPF´s presentation currency, see Note 2.b.1).

Accompanying notes are an integral part of these condensed interim consolidated financial statements.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| 5 | ![LOGO](g279826g0512075808840.jpg) |
| <br> English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.<br> In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.<br>**YPF SOCIEDAD ANONIMA**<br> **CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY**<br> **FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2026 AND 2025 (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos) | ![LOGO](g279826g0512075808840.jpg) |

---

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** |
|  | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Retained earnings <sup>(4)</sup>** | **Retained earnings <sup>(4)</sup>** | **Retained earnings <sup>(4)</sup>** | **Retained earnings <sup>(4)</sup>** | **Retained earnings <sup>(4)</sup>** | **Equity attributable to** | **Equity attributable to** | |
|  | **Capital** | **Adjustment<br>to capital** | **Treasury<br>shares** | **Adjustment<br>to capital** | **Share-<br>based<br>benefit<br>plans** | **Acquisition<br>cost of<br>treasury<br>shares <sup>(2)</sup>** | **Share<br>trading<br>premiums** | **Issuance<br>premiums** | **Legal<br>reserve** | **Reserve for<br>investments** | **Reserve<br>for<br>purchase<br>of<br>treasury<br>shares** | **Other<br>comprehensive<br>income** | **Unappropriated<br>retained<br>earnings and<br>losses** | **Shareholders<br>of the parent<br>company** | **Non-controlling<br>interest** |<br>**Total<br>shareholders'<br>equity** |
| **Balance at the beginning of the fiscal year** | 3921 | 6081 | 12 | 20 | 9323 | (34274) | 13707 | 640 | 1141047 | 9553655 | 48146 | 6039399 | (1096460) | 15685217 | 333766 | 16018983 |
| Accrual of share-based benefit plans <sup>(3)</sup> |  |  |  |  | 4921 |  |  |  |  |  |  |  |  | 4921 |  | 4921 |
| Settlement of share-based benefit plans |  |  |  |  | (224) | (140) | 205 |  |  |  |  |  |  | (159) |  | (159) |
| Other comprehensive income |  |  |  |  |  |  |  |  | (57425) | (480812) | (2423) | (104639) | 4565 | (640734) | 31646 | (609088) |
| Net profit for the period |  |  |  |  |  |  |  |  |  |  |  |  | 606289 | 606289 | 5572 | 611861 |
| **Balance as of March 31, 2026** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | 14020 | (34414) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | 1083622 | 9072843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45723 | 5934760<sup>(1)</sup> | (485606) | 15655534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370984 | 16026518 |

---

---

| |
|:---|
| (1) Includes 6,200,026 related to the effect of the translation of the shareholders' contributions (see Note 36 "Effect of the translation of the shareholders' contributions" section). (3168260) related to the effect of the translation of the financial statements of investments in subsidiaries, associates and joint ventures with functional currencies other than the U.S. dollar, and 2,902,994 related to the recognition of the result from net monetary position of subsidiaries, associates and joint ventures with the peso as functional currency. See Notes 2.b.1) and 2.b.10) to the annual consolidated financial statements. |
| (2) Net of employees' income tax withholding related to the share-based benefit plans. |
| (3) See Note 38. |
| (4) Includes 48,825 and 51,423 restricted to the distribution of retained earnings as of March 31, 2026, and December 2025, respectively. See Note 31 to the annual consolidated financial statements. |

---

HORACIO DANIEL MARÍN

President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| 6 | ![LOGO](g279826g0512075808840.jpg) |
| <br> English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.<br> In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.<br>**YPF SOCIEDAD ANONIMA**<br> **CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY**<br> **FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2026 AND 2025 (UNAUDITED) (cont.)**<br> (Amounts expressed in millions of Argentine pesos) | ![LOGO](g279826g0512075808840.jpg) |

---

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** |
|  | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Shareholders' contributions** | **Retained earnings <sup>(4)</sup>** | **Retained earnings <sup>(4)</sup>** | **Retained earnings <sup>(4)</sup>** | **Retained earnings <sup>(4)</sup>** | **Retained earnings <sup>(4)</sup>** | **Equity attributable to** | **Equity attributable to** | |
|  | **Capital** | **Adjustment<br>to capital** | **Treasury<br>shares** | **Adjustment<br>to capital** | **Share-based<br>benefit plans** | **Acquisition<br>cost of<br>treasury shares <sup>(2)</sup>** | **Share<br>trading<br>premiums** | **Issuance<br>premiums** | **Legal<br>reserve** | **Reserve for<br>investments** | **Reserve for<br>purchase of<br>treasury shares** | **Other<br>comprehensive<br>income** | **Unappropriated<br>retained<br>earnings and<br>losses** | **Shareholders<br>of the parent<br>company** | **Non-controlling<br>interest** |<br>**Total<br>shareholders'<br>equity** |
| **Balance at the beginning of the fiscal year** | 3922 | 6083 | 11 | 18 | 3563 | (9655) | 2546 | 640 | 810651 | 4365198 | 36708 | 4296133 | 2491779 | 12007597 | 224363 | 12231960 |
| Accrual of share-based benefit plans <sup>(3)</sup> |  |  |  |  | 2770 |  |  |  |  |  |  |  |  | 2770 |  | 2770 |
| Settlement of share-based benefit plans |  |  |  |  | (54) | (65) | 44 |  |  |  |  |  |  | (75) |  | (75) |
| Other comprehensive income |  |  |  |  |  |  |  |  | 33040 | 177912 | 1496 | 224401 | 94669 | 531518 | 18908 | 550426 |
| Net (loss) / profit for the period |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |  |  |  |  |  |  | (19864) | (19864) | 6894 | (12970) |
| **Balance as of March 31, 2025** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6279 | (9720) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | 843691 | 4543110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38204 | 4520534<sup>(1)</sup> | 2566584 | 12521946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250165 | 12772111 |

---

---

| |
|:---|
| (1) Includes 4,825,541 related to the effect of the translation of the shareholders' contributions (see Note 36 "Effect of the translation of the shareholders' contributions" section). (2149854) related to the effect of the translation of the financial statements of investments in subsidiaries, associates and joint ventures with functional currencies other than the U.S. dollar, and 1,844,847 related to the recognition of the result from net monetary position of subsidiaries, associates and joint ventures with the peso as functional currency. See Notes 2.b.1) and 2.b.10) to the annual consolidated financial statements. |
| (2) Net of employees' income tax withholding related to the share-based benefit plans. |
| (3) See Note 38. |
| (4) Includes 75,099 and 72,137 restricted to the distribution of retained earnings as of March 31, 2025 and December 31, 2024, respectively. See Note 31 to the annual consolidated financial statements. |

---

Accompanying notes are an integral part of these condensed interim consolidated financial statements.

HORACIO DANIEL MARÍN

President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW**<br> **FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2026 AND 2025 (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos) | ![LOGO](g279826g0512075808840.jpg) |

---

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended<br>March 31,** | **For the three-month periods ended<br>March 31,** |
|  | **2026** | **2025** |
|  **Cash flows from operating activities** |  |  |
|  Net profit / (loss) | 611861 | (12970) |
|  *Adjustments to reconcile net profit to cash flows provided by operating activities:* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income from equity interests in associates and joint ventures | (166345) | (86034) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation of property, plant and equipment | 921680 | 757677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of intangible assets | 23711 | 15249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation of right-of-use assets | 101971 | 77536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retirement of property, plant and equipment and intangible assets and consumption of materials | 75417 | 104639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charge on income tax | 342873 | 40720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase in provisions | 143009 | 278736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effect of changes in exchange rates, interest and others | 437179 | 237255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share-based benefit plans | 4921 | 2770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Result from sale of assets | (5475) | (15042) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Result from changes in fair value of assets held for sale | (19979) | 214500 |
|  *Changes in assets and liabilities:* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trade receivables | (85404) | (26840) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other receivables | (24771) | (208368) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inventories | (8212) | (71353) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts payable | 147793 | (316130) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taxes payable | 171204 | (15339) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Salaries and social security | 82838 | 33351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | (129212) | (109306) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease in provisions due to payment/use | (35580) | (62159) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract assets | (2710) | 4845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract liabilities | 71735 | 60475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from collection of profit loss insurance |  | 1474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income tax payments | (34140) | (9269) |
|  **Net cash flows from operating activities <sup>(1) (2)</sup>** | **2624364** | **896417** |
|  **Investing activities: <sup>(3)</sup>** |  |  |
|  Acquisition of property, plant and equipment and intangible assets | (1530062) | (1279802) |
|  Additions of assets held for sale | (4522) | (34607) |
|  Contributions and acquisitions of interests in associates and joint ventures | (48892) | (74621) |
|  Acquisitions from business combinations net of cash and cash equivalents |  | (256152) |
|  Proceeds from sales of financial assets | 70164 | 101514 |
|  Payments from purchase of financial assets | (201963) |  |
|  Interests received from financial assets | 1254 | 1421 |
|  Proceeds from concessions, assignment agreements and sale of assets | 739624 | 75669 |
|  **Net cash flows used in investing activities** | **(974397)** | **(1466578)** |
|  **Financing activities: <sup>(3)</sup>** |  |  |
|  Payments of loans | (1674053) | (1144695) |
|  Payments of interests | (364107) | (232177) |
|  Proceeds from loans | 1081404 | 1854108 |
|  Account overdrafts, net | (4719) |  |
|  Payments of leases | (134990) | (110201) |
|  Payments of interests in relation to income tax | (38971) | (459) |
|  **Net cash flows (used in) / from financing activities** | **(1135436)** | **366576** |
|  **Effect of changes in exchange rates on cash and cash equivalents** | **(41483)** | **58698** |
|  **Increase / (Decrease) in cash and cash equivalents** | **473048** | **(144887)** |
|  Cash and cash equivalents at the beginning of the fiscal year | 1352703 | 1151868 |
|  Cash and cash equivalents at the end of the period | 1825751 | 1006981 |
|  **Increase / Decrease in cash and cash equivalents** | **473048** | **(144887)** |

---

(1) Does not include the effect of changes in exchange rates generated by cash and cash equivalents, which is disclosed
separately in this statement.

(2) Includes 27,504 and 32,376 for the three-month periods ended March 31, 2026 and 2025, respectively, for payments of
short-term leases and payments of the variable charge of leases related to the underlying asset use or performance.

(3) The main investing and financing transactions that have not affected cash and cash equivalents correspond to:

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended<br>March 31,** | **For the three-month periods ended<br>March 31,** |
|  | **2026** | **2025** |
|  Unpaid acquisitions of property, plant and equipment and intangible assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643447 |
|  Unpaid additions of assets held for sale | 1423 | 5217 |
|  Additions of right-of-use assets | 217842 | 11869 |
|  Capitalization of depreciation of right-of-use assets | 13795 | 17313 |
|  Capitalization of financial accretion for lease liabilities | 1306 | 2896 |
|  Unpaid receivables from the sale of assets | 533093 |  |

---

Accompanying notes are an integral part of these condensed interim consolidated financial statements.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**1. GENERAL INFORMATION, STRUCTURE AND ORGANIZATION OF THE GROUP'S BUSINESS** 

<u>General information</u> 

YPF S.A. ("YPF" or the "Company") is a stock corporation (sociedad anónima) incorporated under the Argentine laws, with a registered office at Macacha Güemes 515, in the Autonomous City of Buenos Aires.

YPF and its subsidiaries (the "Group") form the leading energy group in Argentina, which operates a fully integrated oil and gas chain with leading positions in the local market for Upstream, Midstream, Downstream, LNG, Integrated Gas and New Energies businesses in Argentina.

<u>Structure and organization of the Group's business</u> 

As of March 31, 2026, the Group carries out its operations in accordance with the following structure:

Upstream <br>

- Midstream and Downstream

- LNG and Integrated Gas

- New Energies

- Central Administration and Others

Activities covered by each business segment are detailed in Note 6. The following table presents the main companies of the Group as of March 31, 2026, by business segment:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Entity** | **Country** | **Main business** | **% of ownership of<br>capital stock <sup>(1)</sup>** | **Relationship** |
|  **Upstream** |  |  |  |  |
|  SC Gas | Argentina | Hydrocarbon exploitation | 100% | Subsidiary |
|  VMI | Argentina | Hydrocarbon exploitation | 100% | Subsidiary |
| **Midstream and Downstream** |  |  |  |  |
|  OPESSA | Argentina | Gas stations | 99.99% | Subsidiary |
|  Refinor | Argentina | Industrialization and commercialization of hydrocarbons | 100% | Subsidiary |
|  OTA | Argentina | Hydrocarbon transportation | 36% | Joint venture |
|  OTC | Chile | Hydrocarbon transportation | 36% | Joint venture |
|  Oldelval | Argentina | Hydrocarbon transportation | 37% | Associate |
|  OTAMERICA | Argentina | Hydrocarbon transportation | 30% | Associate |
|  Termap | Argentina | Hydrocarbon transportation | 33.15% | Associate |
|  VMOS <sup>(3)(5)</sup> | Argentina | Hydrocarbon transportation | 24.49% | Associate |
|  YPF Gas | Argentina | Commercialization of LPG | 33.99% | Associate |
|  **LNG and Integrated Gas** |  |  |  |  |
|  YPF Chile | Chile | Commercialization of natural gas | 100% | Subsidiary |
|  Argentina LNG | Argentina | Industrialization and commercialization of LNG | 100% | Subsidiary |
|  Sur Inversiones Energéticas | Argentina | Industrialization and commercialization of LNG through Southern<br>Energy S.A. associate | 100% | Subsidiary |
|  MEGA | Argentina | Separation of natural gas liquids and their fractionation | 38% | Joint venture |
|  **New Energies** |  |  |  |  |
|  Metrogas <sup>(2)</sup> | Argentina | Distribution of natural gas | 70% | Subsidiary |
|  Metroenergía | Argentina | Commercialization of natural gas | 71.50% | Subsidiary |
|  Y-TEC | Argentina | Research and development of technology | 51% | Subsidiary |
|  YPF EE | Argentina | Generation of electric power | 75% | Joint venture |
|  CT Barragán | Argentina | Generation of electric power | 50% | Joint venture |
|  CDS <sup>(4)</sup> | Argentina | Generation of electric power | 10.25% | Associate |
|  **Central Administration and Others** |  |  |  |  |
|  AESA | Argentina | Engineering and construction services | 100% | Subsidiary |
|  YPF Digital | Argentina | Digital development services and solutions | 100% | Subsidiary |

---

(1) Held directly by YPF and indirectly through its subsidiaries.

(2) See Note 35.c.3) "Note from ENARGAS related to YPF's equity interest in Metrogas" section to the annual
consolidated financial statements.

(3) See Note 34.d) to the annual consolidated financial statements.

(4) Additionally, the Group has a 22.36% indirect holding in capital stock through YPF EE.

(5) On April 23, 2026, VMOS's Shareholders' Meeting approved an increase in the transportation capacity
available to YPF and Chevron Argentina S.R.L., which will result in an increase in YPF's equity interest in VMOS. As of the date of issuance of these condensed interim consolidated financial statements, such increase is pending subscription
and payment. After the subscription and payment process is completed, YPF will hold a 29.82% interest in that company.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**2. BASIS OF PREPARATION OF THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS** 

**2. a) Applicable accounting framework** 

The condensed interim consolidated financial statements of the Company for the three-month period ended March 31, 2026, are presented in accordance with IAS 34 "Interim financial reporting". Therefore, they should be read together with the annual consolidated financial statements of the Company as of December 31, 2025 ("annual consolidated financial statements") presented in U.S. dollars and in accordance with IFRS Accounting Standards as issued by the IASB.

These condensed interim consolidated financial statements corresponding to the three-month period ended March 31, 2026, are unaudited. The Company believes they include all necessary adjustments to reasonably present the results of each period on a basis consistent with the audited annual consolidated financial statements. Net Income for the three-month period ended March 31, 2026 does not necessarily reflect the proportion of the Group's full-year net income.

**2. b) Material accounting policies** 

The material accounting policies are described in Note 2.b) to the annual consolidated financial statements.

The accounting policies adopted in the preparation of these condensed interim consolidated financial statements are consistent with those used in the preparation of the annual consolidated financial statements, except for the valuation policy for income tax described in Note 19.

<u>Functional currency</u>

As mentioned in Note 2.b.1) to the annual consolidated financial statements, YPF has defined the U.S. dollar as its functional currency.

The consolidated financial statements used by YPF for statutory, legal and regulatory purposes in Argentina are those in pesos and filed with the CNV and approved by the Board of Directors and authorized to be issued on May 7, 2026.

<u>Adoption of new standards, interpretations and amendments</u>

The Company has adopted all standards, interpretations and amendments issued by the IASB that are relevant to its operations and are mandatory effective January 1, 2026, as described in Note 2.b.14) to the annual consolidated financial statements.

In accordance with Article 1, Chapter III, Title IV of the CNV rules, the early application of the IFRS and/or their amendments is not permitted for issuers filing financial statements with the CNV, unless specifically admitted by such commission. Consequently, standards and interpretations issued by the IASB whose application is not mandatory at the closing date of these condensed interim consolidated financial statements have not been adopted by the Group.

**2. c) Significant estimates and key sources of estimation uncertainty** 

In preparing the financial statements at a certain date, the Group is required to make estimates and assessments affecting the amount of assets and liabilities recorded and the contingent assets and liabilities disclosed at such date, as well as income and expenses recognized in the fiscal year or period. Actual future profit or loss might differ from the estimates and assessments made at the date of preparation of these condensed interim consolidated financial statements.

The assumptions relating to the future and other key sources of uncertainty about the estimates made for the preparation of these condensed interim consolidated financial statements are consistent with those used by the Group in the preparation of the annual consolidated financial statements, which are disclosed in Note 2.c) to the annual consolidated financial statements.

**2. d) Comparative information** 

Amounts and other financial information corresponding to the fiscal year ended December 31, 2025 and for the three-month period ended March 31, 2025 are an integral part of these condensed interim consolidated financial statements and are intended to be read only in relation to these financial statements.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**3. SEASONALITY OF OPERATIONS** 

Historically, the Group's results have been subject to seasonal fluctuations throughout the year, particularly as a result of the increase in natural gas sales during the winter driven by the increased demand in the residential segment. Consequently, the Group is subject to seasonal fluctuations in its sales volumes and prices, with higher sales of natural gas during the winter at higher prices.

**4. ACQUISITIONS AND DISPOSALS** 

The most relevant acquisitions and disposals of companies that took place during the three-month period ended March 31, 2026 are described below:

<u>Asset exchange between YPF and Pluspetrol S.A. ("Pluspetrol")</u>

On January 22, 2026, the Company entered into an asset swap agreement with Pluspetrol (see Note 39 to the annual consolidated financial statements). On April 30, 2026, after the fulfillment of the closing conditions, the asset exchange agreement between YPF and Pluspetrol was completed, as a result of which YPF, which owned 50% of the rights and obligations in the "Aguada Villanueva," "Las Tacanas," and "Meseta Buena Esperanza" exploitation concessions prior to the aforementioned exchange, is the only owner of 100% of those concessions.

Likewise, on that date, YPF and Pluspetrol signed an amendment to the agreement entered into on January 22, 2026, whereby YPF agrees, subject to the fulfillment of closing conditions, to assign 20% of the "La Escalonada" and "Rincón La Ceniza" exploitation concessions to Pluspetrol through VMI, or alternatively, to transfer 44.44% of VMI's shares to Pluspetrol. As of the date of issuance of these condensed consolidated interim financial statements, the closing conditions have not yet been met.

<u>Acquisition of interest in the "Bandurria Sur," "Bajo del Toro," and "Bajo del Toro Norte" blocks</u>

On February 1, 2026, YPF entered into agreements with Vista Energy S.A.B. de C.V. ("Vista") for (i) the share purchase and sale agreement in Equinor Argentina S.A.U., the company that owns 30% of the "Bandurria Sur" exploitation concession, and (ii) the acquisition of a 15% interest in the "Bajo del Toro" and "Bajo del Toro Norte" exploitation concessions (see Note 39 to the consolidated annual financial statements).

On May 7, 2026, after the fulfillment of the closing conditions, the agreements entered into between YPF and Vista were completed; as of that date YPF, which held interests in the "Bandurria Sur," "Bajo del Toro," and "Bajo del Toro Norte" prior to the aforementioned agreements, owns a total (direct and indirect) interest of 44.9% in the "Bandurria Sur" block and 65% in the "Bajo del Toro" and "Bajo del Toro Norte" blocks.

**5. FINANCIAL RISK MANAGEMENT** 

The Group's activities expose it to a variety of financial risks: Market risk (including exchange rate risk, interest rate risk, and price risk), liquidity risk and credit risk. Within the Group, risk management functions are conducted in relation to financial risks associated to financial instruments to which the Group is exposed during a certain period or as of a specific date.

During the three-month period ended March 31, 2026, there were no significant changes in the administration or policies of risk management implemented by the Group as described in Note 4 to the annual consolidated financial statements.

• **Liquidity risk management** 

Most of the Group's loans contain market-standard covenants for contracts of this nature, which include financial covenants mainly related to restrictions on incurring additional debt associated with the leverage ratio and the debt interest coverage ratio, restrictions on dividend payments, and events of defaults triggered by materially adverse judgements, among others. See Notes 17 and 33 to the annual consolidated financial statements and Notes 18 and 34.

The Group monitors compliance with covenants on a quarterly basis. As of March 31, 2026, the Group is in compliance with its covenants.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**6. BUSINESS SEGMENT INFORMATION** 

The different business segments in which the Group's organization is structured consider the different activities from which the Group can obtain revenues and incur expenses. Such organizational structure is based on the way in which the chief decision maker analyzes the main operating and financial magnitudes for making decisions about resource allocation and performance assessment, also considering the business strategy of the Group.

Business segment information is presented consistently with the manner of reporting the information used by the chief decision maker to allocate resources and assess business segment performance.

The business segments structure is organized as follows:

• **Upstream** 

It performs all activities related to the exploration and exploitation of hydrocarbon fields and production of crude oil and natural gas.

Its revenues are mainly derived from: (i) the sale of the produced crude oil to third parties and to the Midstream and Downstream business segment; (ii) the sale of the produced natural gas to third parties and to the LNG and Integrated Gas business segment; and (iii) the sale of the natural gas retained in plant to the Midstream and Downstream business segment.

It incurs all costs related to the aforementioned activities.

• **Midstream and Downstream** 

It performs activities related to: (i) the refining, transportation and commercialization of refined products; (ii) the production, transportation and commercialization of petrochemical products; (iii) the transportation and commercialization of crude oil; and (iv) the commercialization of specialties for the agribusiness industry and of grains and their by-products.

Its revenues are mainly derived from the sale of crude oil, refined and petrochemical products, and specialties for agribusiness industry and grains and their by-products, through the businesses of Retail, Commercial Networks, Industries, Transportation, Aviation, Agro, Lubricants and Specialties, LPG, Chemicals, International Trade and Transportation and Sales to Companies. In addition, it obtains revenues from midstream oil, midstream gas and natural gas storage operations and the provision of LNG regasification services.

It incurs all costs related to the aforementioned activities, including the purchase of: (i) crude oil from the Upstream business segment and third parties; (ii) natural gas to be consumed in the refinery and petrochemical industrial complexes from the LNG and Integrated Gas business segment; and (iii) natural gas retained in plant from the Upstream business segment.

• **LNG and Integrated Gas** 

It performs activities related to: (i) natural gas transportation and commercialization to third parties and to the Midstream and Downstream business segment; (ii) the separation of natural gas liquids and their fractionation, storage and transportation for the production of ethane, propane, butane and gasoline, and its commercialization, through our investment in joint venture Mega; and (iii) the development of LNG capacity.

Its revenues are mainly derived from the sale of natural gas as producers to third parties and to the Midstream and Downstream and the New Energies business segments for our subsidiary Metrogas.

It incurs all costs related to the aforementioned activities, including the purchase of natural gas from the Upstream business segment.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**6. BUSINESS SEGMENT INFORMATION (cont.)** 

• **New Energies** 

It performs activities related to: (i) the definition and development of the new energy portfolio; (ii) the definition and development of sustainability and energy transitions programs; (iii) the distribution of natural gas through our subsidiary Metrogas; and (iv) the provision of research and development services of technology applied to the hydrocarbon industry through our subsidiary Y-TEC. Furthermore, through our joint ventures YPF EE and CT Barragán, this business segment performs activities related to the generation of conventional thermal electric power and renewable energy.

Its revenues are mainly derived from the sale and transportation and distribution of natural gas to third parties through our subsidiary Metrogas.

It incurs all costs related to the aforementioned activities, including the purchase of natural gas from the LNG and Integrated Gas business segment through our subsidiary Metrogas.

• **Central Administration and Others** 

It includes the remaining activities performed by the Group that do not fall within the aforementioned business segments and which are not reporting business segments, mainly comprising revenues, expenses and assets related to: (i) corporate administrative; (ii) the production of frac sand for well drilling/fracking purposes; (iii) the construction activities through our subsidiary AESA; and (iv) digital development services and solutions through our subsidiary YPF Digital.

Sales between business segments were made at internal transfer prices established by the Group, which approximately reflect domestic market prices.

Operating profit or loss and assets of each business segment have been determined after consolidation adjustments.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

---

| | | |
|:---|:---|:---|
|  | 13 | ![LOGO](g279826g0512075808840.jpg) |
| **YPF SOCIEDAD ANONIMA** |  | ![LOGO](g279826g0512075808840.jpg) |
| **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)** | **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)** | **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)** |
| (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, and as otherwise indicated) | (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, and as otherwise indicated) | (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, and as otherwise indicated) |

---

**6.** **BUSINESS SEGMENT INFORMATION (cont.)** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | | | **In millions of<br>pesos** |
|  | **Upstream** | **Midstream and<br>Downstream** | **LNG and<br>Integrated Gas** | **New Energies** | **Central<br>Administration and<br>Others** | **Consolidation<br>adjustments <sup>(1)</sup>** | **Total** | **Total** |
|  **<u>For the three-month period ended March 31, 2026</u>** |  |  |  |  |  |  |  |  |
|  Revenues | 33 | 4212 | 304 | 203 | 194 |  | 4946 | 6956434 |
|  Revenues from intersegment sales | 1988 | 45 | 67 | 3 | 265 | (2368) |  |  |
|  Revenues | 2021 | 4257 | 371 | 206 | 459 | (2368) | 4946 | 6956434 |
|  Operating profit or loss | 616<sup>(3)</sup> | 1085 | (1) | 13 | (170) | (665) | 878 | 1241859 |
|  Income from equity interests in associates and joint ventures |  | 9 | 17 | 75 |  |  | 101 | 166345 |
|  Net financial results |  |  |  |  |  |  | (327) | (453470) |
|  Net profit before income tax |  |  |  |  |  |  | 652 | 954734 |
|  Income tax |  |  |  |  |  |  | (243) | (342873) |
|  Net profit for the period |  |  |  |  |  |  | 409 | 611861 |
|  Acquisitions of property, plant and equipment | 828 | 169 | 18 | 9 | 12 |  | 1036 | 1435473 |
|  Acquisitions of right-of-use assets | 105 | 54 |  |  |  |  | 159 | 217842 |
|  Increases from business combinations |  |  |  |  |  |  |  |  |
|  *Other income statement items* |  |  |  |  |  |  |  |  |
|  Depreciation of property, plant and equipment <sup>(2)</sup> | 480 | 137 | 1 | 11 | 24 |  | 653 | 921680 |
|  Amortization of intangible assets |  | 9 |  | 3 | 5 |  | 17 | 23711 |
|  Depreciation of right-of-use assets | 42 | 30 |  |  | 1 |  | 73 | 101971 |
|  **<u>Balance as of March 31, 2026</u>** |  |  |  |  |  |  |  |  |
|  Assets | 13578 | 12019 | 746 | 2320 | 2513 | (818) | 30358 | 41817608 |

---

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

---

| | | |
|:---|:---|:---|
|  | 14 | ![LOGO](g279826g0512075808840.jpg) |
| **YPF SOCIEDAD ANONIMA** |  | ![LOGO](g279826g0512075808840.jpg) |
| **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)** | **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)** | **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)** |
| (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, and as otherwise indicated) | (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, and as otherwise indicated) | (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, and as otherwise indicated) |

---

**6.** **BUSINESS SEGMENT INFORMATION (cont.)** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | | | | | **In millions of<br>pesos** |
|  | **Upstream** | **Midstream and<br>Downstream** | **LNG and<br>Integrated Gas** | **New<br>Energies** | **Central<br>Administration and<br>Others** | **Consolidation<br>adjustments <sup>(1)</sup>** | **Total** | **Total** |
|  **<u>For the three-month period ended March 31, 2025</u>** |  |  |  |  |  |  |  |  |
|  Revenues | 18 | 3868 | 333 | 189 | 200 |  | 4608 | 4870820 |
|  Revenues from intersegment sales | 2049 | 62 | 67 | 3 | 282 | (2463) |  |  |
|  Revenues | 2067 | 3930 | 400 | 192 | 482 | (2463) | 4608 | 4870820 |
|  Operating profit or loss | (103) | 422 | (5) | 24 | (115) | (31) | 192 | 191809 |
|  Income from equity interests in associates and joint ventures |  | 14 | 22 | 45 |  |  | 81 | 86034 |
|  Net financial results |  |  |  |  |  |  | (245) | (250093) |
|  Net profit before income tax |  |  |  |  |  |  | 28 | 27750 |
|  Income tax |  |  |  |  |  |  | (38) | (40720) |
|  Net loss for the period |  |  |  |  |  |  | (10) | (12970) |
|  Acquisitions of property, plant and equipment | 1060 | 213 | 3 | 10 | 20 |  | 1306 | 1425770 |
|  Acquisitions of right-of-use assets | 2 | 1 |  |  | 8 |  | 11 | 11869 |
|  Increases from business combinations | 262 |  |  |  |  |  | 262 | 275624 |
|  *Other income statement items* |  |  |  |  |  |  |  |  |
|  Depreciation of property, plant and equipment <sup>(2)</sup> | 561 | 125 | 1 | 10 | 21 |  | 718 | 757677 |
|  Amortization of intangible assets |  | 9 |  | 4 | 1 |  | 14 | 15249 |
|  Depreciation of right-of-use assets | 41 | 31 |  |  | 2 |  | 74 | 77536 |
|  **<u>Balance as of December 31, 2025</u>** |  |  |  |  |  |  |  |  |
|  Assets | 13167 | 11093 | 735 | 2502 | 2094 | (152) | 29439 | 42703377 |

---

(1) Corresponds to the eliminations among the business segments of the Group.

(2) Includes depreciation of charges for impairment of property, plant and equipment.

(3) Includes US$9 millions of unproductive exploratory drillings as of March 31, 2026.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**7. FINANCIAL INSTRUMENTS BY CATEGORY** 

<u>Fair value measurements</u> 

Fair value measurements are described in Note 6 to the annual consolidated financial statements.

The tables below present the Group's financial assets measured at fair value through profit or loss as of March 31, 2026 and December 31, 2025, and their allocation to their fair value hierarchy levels:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** |
| <br>**Financial assets** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Investments in financial assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; - Public securities | 487415 |  |  | 487415 |
| &nbsp;&nbsp;&nbsp; - Private securities - NO | 17350 |  |  | 17350 |
|  | 504765 |  |  | 504765 |
| &nbsp;&nbsp;&nbsp; Cash and cash equivalents: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; - Mutual funds | 564028 |  |  | 564028 |
| &nbsp;&nbsp;&nbsp; - Public securities | 50968 |  |  | 50968 |
|  | 614996 |  |  | 614996 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1119761 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1119761 |
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** |
| **Financial assets** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp; Investments in financial assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; - Public securities | 360622 |  |  | 360622 |
| &nbsp;&nbsp;&nbsp; - Private securities - NO | 19947 |  |  | 19947 |
|  | 380569 |  |  | 380569 |
| &nbsp;&nbsp;&nbsp; Cash and cash equivalents: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; - Mutual funds | 554227 |  |  | 554227 |
| &nbsp;&nbsp;&nbsp; - Public securities | 34812 |  |  | 34812 |
|  | 589039 |  |  | 589039 |
|  | 969608 |  |  | 969608 |

---

The Group has no financial liabilities measured at fair value through profit or loss.

During the three-month period ended March 31, 2026, there were no transfers between the different hierarchies used to determine the fair value of the Group's financial instruments.

<u>Fair value of financial assets and financial liabilities measured at amortized cost</u>

The estimated fair value of loans, considering unadjusted listed prices (Level 1) for NO and interest rates offered to the Group (Level 3) for the remaining loans, amounted to 13,690,087 and 15,514,096 as of March 31, 2026 and December 31, 2025, respectively.

The fair value of other receivables, trade receivables, cash and cash equivalents, other liabilities and accounts payable at amortized cost, do not differ significantly from their carrying amount.

**8. INTANGIBLE ASSETS** 

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
|  Net carrying amount of intangible assets | 1533085 | 1606432 |
|  Provision for impairment of intangible assets <sup>(1)</sup> | (54723) | (57623) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1478362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1548809 |

---

(1) Includes (2,900) and 16,685 corresponding to the conversion effect as of March 31, 2026 and December 31, 2025,
respectively.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**8. INTANGIBLE ASSETS (cont.)** 

The evolution of the Group's intangible assets for the three-month period ended March 31, 2026 and as of the year ended December 31, 2025 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Service concessions | Exploration rights<br>and hydrocarbon<br>resources | Other intangibles | Total |
|  Cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1082670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1747757 |
|  Accumulated amortization | 753429 |  | 447563 | 1200992 |
|  **Balance as of December 31, 2024** | 329241 | 113320 | 104204 | 546765 |
|  <u>Cost</u> |  |  |  |  |
|  Increases | 92236 |  | 12529 | 104765 |
|  Increases from business combinations |  | 759941 |  | 759941 |
|  Translation effect | 456262 | 107049 | 187306 | 750617 |
|  Adjustment for inflation <sup>(1)</sup> |  |  | 34598 | 34598 |
|  Decreases, reclassifications and other movements |  | (57196) | 34934 | (22262) |
|  <u>Accumulated amortization</u> |  |  |  |  |
|  Increases | 34237 |  | 46335 | 80572 |
|  Translation effect | 312637 |  | 156503 | 469140 |
|  Adjustment for inflation <sup>(1)</sup> |  |  | 22323 | 22323 |
|  Decreases, reclassifications and other movements |  |  | (4043) | (4043) |
|  Cost | 1631168 | 923114 | 821134 | 3375416 |
|  Accumulated amortization | 1100303 |  | 668681 | 1768984 |
|  **Balance as of December 31, 2025** | 530865 | 923114 | 152453 | 1606432 |
|  <u>Cost</u> |  |  |  |  |
|  Increases | 10782 |  | 2359 | 13141 |
|  Increases from business combinations |  |  |  |  |
|  Translation effect | (82143) | (46459) | (33931) | (162533) |
|  Adjustment for inflation <sup>(1)</sup> |  |  | 14414 | 14414 |
|  Decreases, reclassifications and other movements |  |  | 12319 | 12319 |
|  <u>Accumulated amortization</u> |  |  |  |  |
|  Increases | 9363 |  | 14348 | 23711 |
|  Translation effect | (55613) |  | (27991) | (83604) |
|  Adjustment for inflation <sup>(1)</sup> |  |  | 10581 | 10581 |
|  Decreases, reclassifications and other movements |  |  |  |  |
|  Cost | 1559807 | 876655 | 816295 | 3252757 |
|  Accumulated amortization | 1054053 |  | 665619 | 1719672 |
|  **Balance as of March 31, 2026** | 505754 | 876655 | 150676 | 1533085 |

---

(1) Corresponds to the adjustment for inflation of opening balances of intangible assets of subsidiaries with the peso as
functional currency which was charged to "Other comprehensive income" in the statement of comprehensive income.

**9. PROPERTY, PLANT AND EQUIPMENT** 

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
|  Net carrying amount of property, plant and equipment | 28070685 | 28902606 |
|  Provision for obsolescence of materials and equipment | (662676) | (701832) |
|  Provision for impairment of property, plant and equipment | (467383) | (518220) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26940626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27682554 |

---

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION**<br> (Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**9. PROPERTY, PLANT AND EQUIPMENT (cont.)** 

Changes in Group's property, plant and equipment for the three-month periods ended March 31, 2026 and as of the year ended December 31, 2025 are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Land and<br>buildings | Mining<br>property, wells<br>and related<br>equipment | Refinery<br>equipment<br>and<br>petrochemical<br>plants | Transportation<br>equipment | Materials and<br>equipment in<br>warehouse | Drilling and<br>work in<br>progress | Exploratory<br>drilling in<br>progress | Furniture,<br>fixtures and<br>installations | Selling<br>equipment | Infrastructure<br>for natural gas<br>distribution | Other property | Total |
|  Cost | 1397768 | 29380502 | 9616896 | 750211 | 1606015 | 6255923 | 60235 | 921363 | 1614157 | 1417617 | 983516 | 54004203 |
|  Accumulated depreciation | 733891 | 23011806 | 6420236 | 389498 |  |  |  | 825928 | 1073276 | 730457 | 769479 | 33954571 |
| **Balance as of December 31, 2024** | 663877 | 6368696 | 3196660 | 360713 | 1606015 | 6255923 | 60235 | 95435 | 540881 | 687160 | 214037 | 20049632 |
| <u>Cost</u> |  |  |  |  |  |  |  |  |  |  |  |  |
| Increases | 998 | 193786 | 145749 | 23738 | 1092716 | 4773047 | 65539 | 4823 | 61 |  | 11277 | 6311734 |
| Increases from business combinations | 15846 | 217829 | 73466 | 110066 | 62572 | 55125 |  |  |  |  |  | 534904 |
| Translation effect | 460776 | 12769595 | 4011197 | 303398 | 567419 | 2229359 | 9263 | 351490 | 666855 |  | 256368 | 21625720 |
| Adjustment for inflation <sup>(1)</sup> | 90170 |  |  | 34715 | 11388 | 16961 |  | 20784 |  | 441446 | 111579 | 727043 |
| Decreases, reclassifications and other movements | (42594) | (2390050) | 749629 | 242878 | (1500349) | (5477667) | (115194) | 30459 | 45237 | 57912 | (23974) | (8423713)<sup>(2) (3)</sup> |
| <u>Accumulated depreciation</u> |  |  |  |  |  |  |  |  |  |  |  |  |
| Increases | 34109 | 2904444 | 487506 | 78303 |  |  |  | 50106 | 92608 | 37302 | 38653 | 3723031 |
| Translation effect | 236103 | 9786042 | 2693411 | 134340 |  |  |  | 323524 | 453051 |  | 209482 | 13835953 |
| Adjustment for inflation <sup>(1)</sup> | 49029 |  |  | 21358 |  |  |  | 14160 |  | 227464 | 81617 | 393628 |
| Decreases, reclassifications and other movements | (36193) | (5901506) |  | (38374) |  |  |  | (13262) | (997) | (1517) | (38049) | (6029898)<sup>(2) (3)</sup> |
| Cost | 1922964 | 40171662 | 14596937 | 1465006 | 1839761 | 7852748 | 19843 | 1328919 | 2326310 | 1916975 | 1338766 | 74779891 |
| Accumulated depreciation | 1016939 | 29800786 | 9601153 | 585125 |  |  |  | 1200456 | 1617938 | 993706 | 1061182 | 45877285 |
| **Balance as of December 31, 2025** | &nbsp;&nbsp;&nbsp;&nbsp;906025 | 10370876 | 4995784 | &nbsp;&nbsp;&nbsp;&nbsp;879881 | 1839761 | 7852748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19843 | &nbsp;&nbsp;&nbsp;&nbsp;128463 | &nbsp;&nbsp;&nbsp;&nbsp;708372 | &nbsp;&nbsp;&nbsp;&nbsp;923269 | &nbsp;&nbsp;&nbsp;&nbsp;277584 | 28902606 |

---

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**9. PROPERTY, PLANT AND EQUIPMENT (cont.)** 

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Land and<br>buildings | Mining<br>property,<br>wells and<br>related<br>equipment | Refinery<br>equipment<br>and<br>petrochemical<br>plants | Transportation<br>equipment | Materials and<br>equipment in<br>warehouse | Drilling and<br>work in<br>progress | Exploratory<br>drilling in<br>progress | Furniture,<br>fixtures and<br>installations | Selling<br>equipment | Infrastructure<br>for natural<br>gas<br>distribution | Other<br>property | Total |
|  Cost | 1922964 | 40171662 | 14596937 | 1465006 | 1839761 | 7852748 | 19843 | 1328919 | 2326310 | 1916975 | 1338766 | 74779891 |
|  Accumulated depreciation | 1016939 | 29800786 | 9601153 | 585125 |  |  |  | 1200456 | 1617938 | 993706 | 1061182 | 45877285 |
| **Balance as of December 31, 2025** | 906025 | 10370876 | 4995784 | 879881 | 1839761 | 7852748 | 19843 | 128463 | 708372 | 923269 | 277584 | 28902606 |
| <u>Cost</u> |  |  |  |  |  |  |  |  |  |  |  |  |
| Increases | 353 |  | 5528 | 1197 | 274601 | 1146247 | 2514 | 1549 |  |  | 3484 | 1435473 |
| Increases from business combinations |  |  |  |  |  |  |  |  |  |  |  |  |
| Translation effect | (77677) | (2053470) | (751873) | (67178) | (88546) | (353261) | (1116) | (62358) | (118070) |  | (42729) | (3616278) |
| Adjustment for inflation <sup>(1)</sup> | 35572 |  |  | 14858 | 4537 | 4158 |  | 8693 |  | 175570 | 45154 | 288542 |
| Decreases, reclassifications and other movements | 15528 | 754259 | 403574 | 23563 | (251584) | (1061386) | 1413 | 4550 | 36034 | 5345 | 4175 | (64529) |
| <u>Accumulated depreciation</u> |  |  |  |  |  |  |  |  |  |  |  |  |
| Increases | 13589 | 712549 | 140813 | 21015 |  |  |  | 12924 | 26206 | 11296 | 10602 | 948994 |
| Translation effect | (40681) | (1517206) | (486712) | (26373) |  |  |  | (57490) | (82060) |  | (35132) | (2245654) |
| Adjustment for inflation <sup>(1)</sup> | 19826 |  |  | 8999 |  |  |  | 5968 |  | 89623 | 33542 | 157958 |
| Decreases, reclassifications and other movements | (516) | (4606) |  | 19705 |  |  |  | (3) | (244) |  | (505) | 13831 |
| Cost | 1896740 | 38872451 | 14254166 | 1437446 | 1778769 | 7588506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22654 | 1281353 | 2244274 | 2097890 | 1348850 | 72823099 |
| Accumulated depreciation | 1009157 | 28991523 | 9255254 | 608471 |  |  |  | 1161855 | 1561840 | 1094625 | 1069689 | 44752414 |
| **Balance as of March 31, 2026** | 887583 | 9880928 | 4998912 | 828975 | 1778769 | 7588506 | 22654 | 119498 | 682434 | 1003265 | 279161 | 28070685 |

---

(1) Corresponds to the adjustment for inflation of opening balances of property, plant and equipment of subsidiaries with
the peso as functional currency which was charged to "Other comprehensive income" in the statement of comprehensive income.

(2) Includes 404,035 and 78,681 of cost and accumulated depreciation, respectively, of assets related to the "Aguada
del Chañar" exploitation concession reclassified to the "Assets held for sale" line item in the statement of financial position, see Note 11.b) to the annual consolidated financial statements

(3) Includes 6,700,490 and 5,614,054 of cost and accumulated depreciation, respectively, of assets related
to the "Cerro Fortunoso", "Valle del Río Grande" and "Manantiales Behr" exploitation concessions within the context of the Optimization plan of the conventional Upstream portfolio reclassified to the
"Assets held for sale" line item in the statement of financial position, see Note 11.a) to the annual consolidated financial statements.

HORACIO DANIEL MARÍN President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**9. PROPERTY, PLANT AND EQUIPMENT (cont.)** 

The Group capitalizes the financial cost of loans as part of the cost of the property, plant and equipment. For the three-month periods ended March 31, 2026 and 2025, the rate of capitalization was 7.03% and 6.57%, respectively, and the amount capitalized amounted to 5,733 and 2,963, respectively.

Set forth present is the evolution of the provision for obsolescence of materials and equipment for the three-month period ended March 31, 2026 and as of the year ended December 31, 2025:

---

| | |
|:---|:---|
|  | **Provision for obsolescence** <br>**of materials and equipment** |
|  **Balance as of December 31, 2024** | 229813 |
|  Increases charged to profit or loss | 453929 |
|  Decreases charged to profit or loss | (54034) |
|  Applications due to utilization | (25858) |
|  Translation effect | 165860 |
|  Adjustment for inflation <sup>(1)</sup> | 1463 |
|  Reclassifications | (69341) |
|  **Balance as of December 31, 2025** | 701832 |
|  Increases charged to profit or loss | 174 |
|  Decreases charged to profit or loss | (11425) |
|  Applications due to utilization | (467) |
|  Translation effect | (34932) |
|  Adjustment for inflation <sup>(1)</sup> | 654 |
|  Reclassifications | 6840 |
|  **Balance as of March 31, 2026** | 662676 |

---

(1) Corresponds to the adjustment for inflation of opening balances of the provision for obsolescence of materials and
equipment of subsidiaries with the peso as functional currency which was charged to "Other comprehensive income" in the statement of comprehensive income.

Set forth present is the evolution of the provision for impairment of property, plant and equipment for the three-month period ended March 31, 2026 and as of the year ended December 31, 2025:

---

| | |
|:---|:---|
|  | **Provision for impairment of** <br>**property, plant and**<br>**equipment** |
|  **Balance as of December 31, 2024** | 512396 |
|  Increases charged to profit or loss | 3503 |
|  Decreases charged to profit or loss | (10107) |
|  Depreciation <sup>(1)</sup> | (168137) |
|  Translation effect | 175215 |
|  Adjustment for inflation <sup>(2)</sup> | 5350 |
|  **Balance as of December 31, 2025** | 518220 |
|  Increases charged to profit or loss |  |
|  Decreases charged to profit or loss |  |
|  Depreciation <sup>(1)</sup> | (27314) |
|  Translation effect | (24786) |
|  Adjustment for inflation <sup>(2)</sup> | 1263 |
|  **Balance as of March 31, 2026** | 467383 |

---

(1) Included in "Depreciation of property, plant and equipment" line item in the statement of comprehensive
income, see Note 28.

(2) Corresponds to the adjustment for inflation of opening balances of the provision for impairment of property, plant and
equipment of subsidiaries with the peso as functional currency which was charged to "Other comprehensive income" in the statement of comprehensive income.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**10. RIGHT-OF-USE ASSETS** 

The evolution of the Group's right-of-use assets for the three-month period ended March 31, 2026 and as of the year ended December 31, 2025 is as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Land and<br>buildings | Exploitation<br>facilities and<br>equipment | Machinery and<br>equipment | Gas stations | Transportation<br>equipment | Total |
| &nbsp;&nbsp;&nbsp; Cost | 54305 | 584830 | 631922 | 116145 | 693712 | 2080914 |
| &nbsp;&nbsp;&nbsp; Accumulated depreciation | 32896 | 517392 | 294406 | 69119 | 401858 | 1315671 |
| &nbsp;&nbsp;&nbsp; **Balance as of December 31, 2024** | 21409 | 67438 | 337516 | 47026 | 291854 | 765243 |
| &nbsp;&nbsp;&nbsp; <u>Cost</u> |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Increases | 68 | 53812 | 48834 |  | 167983 | 270697 |
| &nbsp;&nbsp;&nbsp; Translation effect | 19563 | 234322 | 273756 | 36037 | 304986 | 868664 |
| &nbsp;&nbsp;&nbsp; Adjustment for inflation <sup>(1)</sup> | 343 |  |  | 8694 |  | 9037 |
| &nbsp;&nbsp;&nbsp; Decreases, reclassifications and other movements | (9405) | (24266) | (5740) |  | (62048) | (101459) |
| &nbsp;&nbsp;&nbsp; <u>Accumulated depreciation</u> |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Increases | 6816 | 41657 | 137915 | 14579 | 223316 | 424283 |
| &nbsp;&nbsp;&nbsp; Translation effect | 13881 | 218278 | 150048 | 21368 | 202146 | 605721 |
| &nbsp;&nbsp;&nbsp; Adjustment for inflation <sup>(1)</sup> | 341 |  |  | 6758 |  | 7099 |
| &nbsp;&nbsp;&nbsp; Decreases, reclassifications and other movements | (1119) | (2634) |  |  | (370) | (4123) |
| &nbsp;&nbsp;&nbsp; Cost | 64874 | 848698 | 948772 | 160876 | 1104633 | 3127853 |
| &nbsp;&nbsp;&nbsp; Accumulated depreciation | 52815 | 774693 | 582369 | 111824 | 826950 | 2348651 |
| &nbsp;&nbsp;&nbsp; **Balance as of December 31, 2025** | 12059 | 74005 | 366403 | 49052 | 277683 | 779202 |
| &nbsp;&nbsp;&nbsp; <u>Cost</u> |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Increases | 28 | 143027 | 26630 |  | 48157 | 217842 |
| &nbsp;&nbsp;&nbsp; Translation effect | (3189) | (42434) | (48663) | (6139) | (55601) | (156026) |
| &nbsp;&nbsp;&nbsp; Adjustment for inflation <sup>(1)</sup> | 138 |  |  | 3409 |  | 3547 |
| &nbsp;&nbsp;&nbsp; Decreases, reclassifications and other movements |  | (25872) |  | (11576) |  | (37448) |
| &nbsp;&nbsp;&nbsp; <u>Accumulated depreciation</u> |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Increases | 1678 | 15500 | 40659 | 4015 | 53914 | 115766 |
| &nbsp;&nbsp;&nbsp; Translation effect | (2625) | (39115) | (31275) | (4088) | (42993) | (120096) |
| &nbsp;&nbsp;&nbsp; Adjustment for inflation <sup>(1)</sup> | 135 |  |  | 2918 |  | 3053 |
| &nbsp;&nbsp;&nbsp; Decreases, reclassifications and other movements |  | (25441) |  | (4910) |  | (30351) |
| &nbsp;&nbsp;&nbsp; Cost | 61851 | 923419 | 926739 | 146570 | 1097189 | 3155768 |
| &nbsp;&nbsp;&nbsp; Accumulated depreciation | 52003 | 725637 | 591753 | 109759 | 837871 | 2317023 |
| &nbsp;&nbsp;&nbsp; **Balance as of March 31, 2026** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838745 |

---

<sup>(1)</sup> Corresponds to the adjustment for inflation of opening balances of right-of-use assets of subsidiaries with the peso as functional currency which was charged to "Other comprehensive income" in the statement of comprehensive income.

**11. INVESTMENTS IN ASSOCIATES AND JOINT VENTURES** 

The following table presents the value of the investments in associates and joint ventures at an aggregate level as of March 31, 2026 and December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
|  Amount of investments in associates |  | 469891 |  | 473518 |
|  Amount of investments in joint ventures |  | 1895213 |  | 1861228 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,365,104 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,334,746 |

---

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**11. INVESTMENTS IN ASSOCIATES AND JOINT VENTURES (cont.)** 

The main concepts which affected the value of the aforementioned investments during the three-month period ended March 31, 2026 and as of the year ended December 31, 2025, correspond to:

---

| | |
|:---|:---|
|  | **Investments in associates <br>and joint ventures** |
|  **Balance as of December 31, 2024** | 2019790 |
|  Acquisitions and contributions | 113669 |
|  Capitalization in associates and joint ventures | 13726 |
|  Income on investments in associates and joint ventures | 149044 |
|  Distributed dividends <sup>(4)</sup> | (292912) |
|  Translation differences | 773380 |
|  Adjustment for inflation <sup>(1)</sup> | 25562 |
|  Decrease of companies <sup>(2)</sup> | (379476) |
|  Other movements <sup>(3)</sup> | (88037) |
|  **Balance as of December 31, 2025** | 2334746 |
|  Acquisitions and contributions | 48892 |
|  Capitalization in associates and joint ventures |  |
|  Income on investments in associates and joint ventures | 166345 |
|  Distributed dividends | (53727) |
|  Translation differences | (141729) |
|  Adjustment for inflation <sup>(1)</sup> | 10577 |
|  Decrease of companies |  |
|  Other movements |  |
|  **Balance as of March 31, 2026** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2365104 |

---

(1) Corresponds to the adjustment for inflation of opening balances of associates and joint ventures with the peso as
functional currency which was charged to "Other comprehensive income" in the statement of comprehensive income, see Note 2.b.1) to the annual consolidated financial statements.

(2) Corresponds to the decrease due to the sale of Profertil, see Note 3 to the annual consolidated financial statements.

(3) Corresponds to the decrease in the OLCLP and Refinor joint ventures, see Note 3 to the annual consolidated financial
statements.

(4) Includes 32,495 that were offset by trade liabilities.

The following table presents the principal amounts of the results of the investments in associates and joint ventures of the Group, calculated according to the equity method, for the three-month periods ended March 31, 2026 and 2025. The values reported by these companies have been adjusted, if applicable, to adapt them to the accounting policies used by the Company for the calculation of the equity method value in the aforementioned dates:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Associates** | **Associates** | **Joint ventures** | **Joint ventures** |
|  | **For the three-month periods<br>ended March 31,** | **For the three-month periods<br>ended March 31,** | **For the three-month periods<br>ended March 31,** | **For the three-month periods<br>ended March 31,** |
|  | **2026** | **2025** | **2026** | **2025** |
|  Net income | 35785 | 10437 | 130560 | 75597 |
|  Other comprehensive income | (34583) | 14352 | (96569) | 77334 |
|  **Comprehensive income** | 1202 | 24789 | 33991 | 152931 |

---

The Company has no investments in subsidiaries with significant non-controlling interests. Likewise, the Company has no significant investments in associates and joint ventures, except for the investment in YPF EE.

**12. ASSETS HELD FOR SALE AND ASSOCIATED LIABILITIES** 

The following table presents the main assets held for sale and associated liabilities as of March 31, 2026 and December 31, 2025:

---

| | | | |
|:---|:---|:---|:---|
|  | **Upstream** | **Midstream and <br>Downstream** | **Total** |
|  **<u>Balance as of March 31, 2026</u>** |  |  |  |
|  **<u>Assets held for sale</u>** |  |  |  |
|  Property, plant and equipment - Optimization plan of the conventional Upstream portfolio | 1310825 |  | 1310825 |
|  Property, plant and equipment - Gas stations |  | 7964 | 7964 |
|  | **1310825** | **7964** | **1318789** |
| **Liabilities directly associated with assets held for sale** |  |  |  |
|  Provision for hydrocarbon wells abandonment obligations - Optimization plan of the conventional Upstream portfolio | 1447059 |  | 1447059 |
|  Provision for environmental liabilities - Optimization plan of the conventional Upstream portfolio | 6816 |  | 6816 |
|  Liabilities for concessions - Optimization plan of the conventional Upstream portfolio | 5820 |  | 5820 |
|  | **1459695** | **-** | **1459695** |

---

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**12. ASSETS HELD FOR SALE AND ASSOCIATED LIABILITIES (cont.)** 

---

| | | | |
|:---|:---|:---|:---|
|  | **Upstream** | **Midstream and <br>Downstream** | **Total** |
|  **<u>Balance as of December 31, 2025</u>** |  |  |  |
|  **<u>Assets held for sale</u>** |  |  |  |
|  Property, plant and equipment - Optimization plan of the conventional Upstream portfolio | 1470346 |  | 1470346 |
|  Property, plant and equipment - Gas stations |  | 8875 | 8875 |
|  | **1470346** | **8875** | **1479221** |
|  **<u>Liabilities directly associated with assets held for sale</u>** |  |  |  |
|  Provision for hydrocarbon wells abandonment obligations - Optimization plan of the conventional Upstream portfolio | 1700516 |  | 1700516 |
|  Provision for environmental liabilities - Optimization plan of the conventional Upstream portfolio | 6817 |  | 6817 |
|  Liabilities for concessions - Optimization plan of the conventional Upstream portfolio | 6212 |  | 6212 |
|  | **1713545** | **-** | **1713545** |

---

**12. a) Optimization plan of the conventional Upstream portfolio** 

**12. a.1) Description of the Plan** 

The Optimization plan of the conventional Upstream portfolio is described in Note 11.a.1) to the annual consolidated financial statements.

As of the date of issuance of these condensed interim consolidated financial statements, the Company has signed assignment agreements for certain groups of assets as held for sale that are subject to closing conditions mainly related to regulatory and provincial approvals, for which the Company is taking the necessary steps to close; and considers that it is highly probable that these assets will be disposed. In addition, the Company maintains groups of assets as held for sale for which agreements have not yet been signed but continues in negotiations with third parties for their disposal or reversal. The delay in the fulfillment of the plan for the disposal of mature fields is due to the complexity of the negotiations, which is beyond the Company's control. As of the date of issuance of these condensed interim consolidated financial statements, the Company considers that the disposal of such assets continues to be highly probable during 2026.

**12. a.2) Accounting matters** 

In relation to the assignment and/or reversion agreements that have met the agreed closing conditions during the three-month period ended March 31, 2026, the Company recognized:

- A gain from sale of assets in the "Other net operating results" line item in the statement of comprehensive income of 5,475.

- A gain from changes in the fair value of assets held for sale under "Other net operating results" line item in the statement of comprehensive income of 19,979.

The derecognition of the carrying amount of the liabilities directly associated with assets held for sale net of the assets held for sale of 130,324. <br>

Likewise, the Company has committed to an optimization plan that involves operating efficiency measures related to the reduction of third party employees directly or indirectly affected to the operation of areas related to certain groups of assets held for disposal. For such concept, the Company recognized a loss for 98,773 in the "Provision for operating optimizations" line under "Other operating results, net" line item in the statement of comprehensive income.

**13. INVENTORIES** 

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
|  Finished goods | 1295542 | 1335298 |
|  Crude oil and natural gas | 517377 | 569719<sup>(2)</sup> |
|  Products in process | 69576 | 56049 |
|  Raw materials, packaging materials and others | 129262 | 137524 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2011757<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2098590<sup>(1)</sup> |

---

(1) As of March 31, 2026, and December 31, 2025, the carrying amount of inventories does not exceed their net
realizable value.

(2) Includes 29,786 corresponding to the provision of inventories write-down as of December 31, 2025, respectively, see
Note 12 to the annual consolidated financial statements.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**14. OTHER RECEIVABLES** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
|  | **Non-current** | **Current** | **Non-current** | **Current** |
|  Receivables from services, sales of other assets and other advance payments | 105025 | 159229 | 122759 | 729011<sup>(3)</sup> |
|  Tax credit and export rebates | 116800 | 138118 | 97201 | 143490 |
|  Loans and balances with related parties <sup>(1)</sup> | 271032 | 92431 | 289989 | 51218 |
|  Collateral deposits | 2 | 22677 | 2 | 22064 |
|  Prepaid expenses | 61164 | 112649 | 69395 | 56750 |
|  Advances and loans to employees | 586 | 9401 | 578 | 9296 |
|  Advances to suppliers and custom agents <sup>(2)</sup> | 10372 | 72272 | 9118 | 130073 |
|  Receivables with partners in JO and Consortiums | 293609 | 421728 | 336027 | 434170 |
|  Miscellaneous | 72940 | 100478 | 71579 | 105807 |
|  | 931530 | 1128983 | 996648 | 1681879 |
|  Provision for other doubtful receivables | (55569) | (24) | (56444) | (79) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1681800 |

---

(1) See Note 37 for information about related parties.

(2) Includes, among others, advances to custom agents for the payment of taxes and import rights related to the imports of
fuels and goods.

(3) Includes receivable balances from the sale of Profertil, see Note 3 to the annual consolidated financial statements.

**15. TRADE RECEIVABLES** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
|  | **Non-current** | **Current** | **Non-current** | **Current** |
|  Accounts receivable and related parties <sup>(1) (2)</sup> | 18495 | 2565349 | 17285 | 2507770 |
|  Provision for doubtful trade receivables | (9788) | (108977) | (9788) | (107865) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2456372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2399905 |

---

(1) See Note 37 for information about related parties.

(2) See Note 26 for information about credits for contracts included in trade receivables.

Set forth present is the evolution of the provision for doubtful trade receivables for the three-month period ended March 31, 2026 and for the fiscal year ended December 31, 2025:

---

| | | |
|:---|:---|:---|
|  | **Provision for doubtful trade<br>receivables** | **Provision for doubtful trade<br>receivables** |
|  | **Non-current** | **Current** |
|  **Balance as of December 31, 2024** | 9788<sup>(2)</sup> | 53757 |
|  Increases charged to expenses |  | 84015 |
|  Decreases charged to income |  | (9252) |
|  Applications due to utilization |  | (29381) |
|  Net exchange and translation differences |  | 9320 |
|  Result from net monetary position <sup>(1)</sup> |  | (402) |
|  Reclassifications |  | (192) |
|  **Balance as of December 31, 2025** | 9788<sup>(2)</sup> | 107865 |
|  Increases charged to expenses |  | 10055 |
|  Decreases charged to income |  | (6470) |
|  Applications due to utilization |  | (1792) |
|  Net exchange and translation differences |  | (613) |
|  Result from net monetary position <sup>(1)</sup> |  | (68) |
|  Reclassifications |  |  |
|  **Balance as of March 31, 2026** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9788<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108977 |

---

(1) Includes the adjustment for inflation of opening balances of the provision for doubtful trade receivables of subsidiaries
with the peso as functional currency which was charged to "Other comprehensive income" in the statement of comprehensive income, and the adjustment for inflation of the period, which was charged to net profit or loss in the statement of
comprehensive income.

(2) Mainly including credits with distributors of natural gas for the accumulated daily differences pursuant to Decree
No. 1,053/2018, see Note 35.c.1) to the annual consolidated financial statements.

**16. INVESTMENTS IN FINANCIAL ASSETS** 

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
|  **<u>Investments at fair value through profit or loss</u>** |  |  |
|  Public securities | 487415<sup>(1)</sup> | 360622 |
|  Private securities - NO | 17350 | 19947 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380569 |

---

(1) See Note 37.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**17. CASH AND CASH EQUIVALENTS** 

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
|  Cash and banks <sup>(1)</sup> | 443897 | 287600 |
|  Short-term investments <sup>(2)</sup>  | 766858 | 476064 |
|  Financial assets at fair value through profit or loss <sup>(3)</sup> | 614996 | 589039 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1825751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1352703 |

---

(1) Includes balances granted as collateral, see Note 34.d) to the annual consolidated financial statements.

(2) Includes 100,770 and 18,897 of term deposits and other investments with BNA as of March 31, 2026 and
December 31, 2025, respectively.

(3) See Note 7.

**18. PROVISIONS** 

Changes in the Group's provisions for the three-month period ended March 31, 2026 and for the fiscal year ended December 31, 2025 are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Provision for lawsuits and<br>contingencies** | **Provision for lawsuits and<br>contingencies** | **Provision for environmental<br>liabilities** | **Provision for environmental<br>liabilities** | **Provision for hydrocarbon<br>wells abandonment obligations** | **Provision for hydrocarbon<br>wells abandonment obligations** | **Total** | **Total** |
|  | **Non-**<br>**current** | **Current** | **Non-**<br>**current** | **Current** | **Non-**<br>**current** | **Current** | **Non-**<br>**current** | **Current** |
|  **Balance as of December 31, 2024** | 133291 | 21135 | 102348 | 37843 | 882286 | 60413 | 1117925 | 119391 |
|  Increases charged to expenses | 53664 | 638 | 193570 |  | 145055 |  | 392289 | 638 |
|  Decreases charged to income | (10945) | (41) | (1575) |  | (51495) |  | (64015) | (41) |
|  Increases from business combinations | 2881 |  |  |  | 14565 |  | 17446 |  |
|  Applications due to utilization | (2685) | (28990) |  | (112677) |  | (27441) | (2685) | (169108) |
|  Net exchange and translation differences | 13395 | 8400 | 47230 |  | 383437 | 21705 | 444062 | 30105 |
|  Result from net monetary position <sup>(1)</sup> | (57) |  |  |  |  |  | (57) |  |
|  Reclassifications and other movements <sup>(2)</sup> | (28781) | 28150 | (243001) | 246609 | (748282) | 77242 | (1020064) | 352001 |
|  **Balance as of December 31, 2025** | 160763 | 29292 | 98572 | 171775 | 625566 | 131919 | 884901 | 332986 |
|  Increases charged to expenses | 20271 | 5 | 68239 |  | 21534 |  | 110044 | 5 |
|  Decreases charged to income | (1092) | (11) | (704) |  | (8480) |  | (10276) | (11) |
|  Increases from business combinations |  |  |  |  |  |  |  |  |
|  Applications due to utilization | (146) | (1378) |  | (27798) |  | (5285) | (146) | (34461) |
|  Net exchange and translation differences | (2244) | (1460) | (13737) |  | (31711) | (6461) | (47692) | (7921) |
|  Result from net monetary position <sup>(1)</sup> | (35) |  |  |  |  |  | (35) |  |
|  Reclassifications and other movements | (1738) | 1690 | (48909) | 47034 | (5508) | 2681 | (56155) | 51405 |
|  **Balance as of March 31, 2026** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342003 |

---

(1) Includes the adjustment for inflation of opening balances of provisions of subsidiaries with the peso as functional
currency which was charged to "Other comprehensive income" in the statement of comprehensive income and the adjustment for inflation of the period, which was charged to net profit or loss in the statement of comprehensive income.

(2) Includes 350,928 and 5,152 corresponding to the provisions for hydrocarbon wells abandonment obligations and for
environmental liabilities, respectively, related to the "Cerro Fortunoso", "Valle del Río Grande" and "Manantiales Behr" exploitation concessions within the context of the Optimization plan of the
conventional Upstream portfolio reclassified to the "Liabilities directly associated with assets held for sale" line item in the statement of financial position, see Note 11.a) to the annual consolidated financial statements.

Provisions are described in Note 17 to the annual consolidated financial statements.

**19. INCOME TAX** 

According to IAS 34, income tax expense is recognized in each interim period based on the best estimate of the effective income tax rate expected as the closing date of these condensed interim consolidated financial statements, considering the tax criteria that the Group assumes to apply during the fiscal year. If the estimate of such rate is modified based on new elements of judgment, the income tax expense could require adjustments in subsequent periods.

The amount accrued of income tax charge for the three-month periods ending March 31, 2026 and 2025 is as follows:

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** |
|  | **2026** | **2025** |
|  Current income tax | (208332) | (19845) |
|  Deferred income tax | (134541) | (20875) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(342873) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40720) |

---

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**19. INCOME TAX (cont.)** 

The effective income tax rate projected at the end of the fiscal year amounts to 35.91%. The difference between this rate and the effective rate as of December 31, 2025 is mainly explained by the effect of adhering in November 2025 to the Regularization plan associated with the calculation of tax loss carryforwards, see Note 18 to the annual consolidated financial statements.

As of March 31, 2026 and December 31, 2025 the Group has classified as deferred tax asset 56,478 and 13,055, respectively, and as deferred tax liability 703,603 and 541,035, respectively, all of which arise from the net deferred tax balances of each of the individual companies included in these condensed interim consolidated financial statements.

As of March 31, 2026 and December 31, 2025, the causes that generated charges within "Other comprehensive income" line item in the statement of comprehensive income did not generate temporary differences subject to income tax.

**20. TAXES PAYABLE** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
|  | **Non-current** | **Current** | **Non-current** | **Current** |
|  VAT |  | 74560 |  | 59925 |
|  Withholdings and perceptions |  | 95197 |  | 112127 |
|  Royalties |  | 133602 |  | 74016 |
|  Fuels tax | 26459 | 121475 | 26459 | 20638 |
|  Turnover tax |  | 9693 |  | 9525 |
|  Miscellaneous | 373 | 47926 | 290 | 39226 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315457 |

---

**21. SALARIES AND SOCIAL SECURITY** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
|  | **Non-current** | **Current** | **Non-current** | **Current** |
|  Salaries and social security |  | 136358 |  | 105389 |
|  Bonuses and incentives provision |  | 236906 |  | 240216 |
|  Cash-settled share-based payments provision <sup>(1)</sup> | 130646 |  | 83504 |  |
|  Vacation provision |  | 85439 |  | 87910 |
|  Provision for severance indemnities <sup>(2)</sup> |  | 44529 |  | 44447 |
|  Miscellaneous | 4598 | 8035 | 6896 | 8943 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486905 |

---

(1) Corresponds to the Value Generation Plan, see Note 38.

(2) Includes, mainly, severance indemnities related to the Mature Fields Project, see Note 11.a) to the annual consolidated
financial statements

**22. LEASE LIABILITIES** 

The evolution of the Group's leases liabilities for the three-month period ended March 31, 2026 and for the fiscal year ended December 31, 2025, is as follows:

---

| | |
|:---|:---|
|  | **Lease liabilities** |
|  **Balance as of December 31, 2024** | 799656 |
|  Increases of leases | 270697 |
|  Financial accretions | 79309 |
|  Decreases of leases | (98411) |
|  Payments | (501810) |
|  Net exchange and translation differences | 279383 |
|  Result from net monetary position <sup>(1)</sup> | (1) |
|  **Balance as of December 31, 2025** | 828823 |
|  Increases of leases | 217842 |
|  Financial accretions | 17385 |
|  Decreases of leases | (8799) |
|  Payments | (134990) |
|  Net exchange and translation differences | (38686) |
|  Result from net monetary position <sup>(1)</sup> | (1) |
|  **Balance as of March 31, 2026** | 881574 |

---

(1) Includes the adjustment for inflation of opening balances of lease liabilities of subsidiaries with the peso as functional
currency, which was charged to "Other comprehensive income" in the statement of comprehensive income and the adjustment for inflation of the period, which was charged to net profit or loss in the statement of comprehensive income.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**23. LOANS** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
|  | **Interest rate <sup>(1)</sup>** | **Interest rate <sup>(1)</sup>** |<br>**Maturity** | **Non-current** | **Current** | **Non-current** | **Current** |
|  **<u>Pesos:</u>** |  |  |  |  |  |  |  |
|  Financial loans | 12.57% | 43.04% | 2026-2027 | 39160 | 77024 | 88194 | 34630 |
|  Account overdrafts |  |  |  |  |  |  | 4724 |
|  |  |  |  | 39160 | 77024 | 88194 | 39354 |
|  **<u>Currencies other than the peso:</u>** |  |  |  |  |  |  |  |
|  NO <sup>(2) (3)</sup> | 0.00% | 10.00% | 2026-2047 | 10786338 | 1674140 | 10828470 | 2154333 |
|  Exports pre-financing | 2.00% | 8.65% | 2026-2028 | 140021 | 19934<sup>(5)</sup> | 221317 | 286067 |
|  Imports financing | 7.60% | 10.50% | 2026 |  | 29488 |  | 30201 |
|  Financial loans <sup>(4)</sup>  | 3.00% | 9.25% | 2026-2030 | 779661 | 335340 | 793867 | 811933 |
|  Stock market promissory notes | 3.95% | 4.50% | 2026 |  | 54607 |  | 93140 |
|  |  |  |  | 11706020 | 2113509 | 11843654 | 3375674 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11745180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2190533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11931848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3415028 |

---

(1) Nominal annual interest rate as of March 31, 2026.

(2) Disclosed net of 243,517 and 254,221 corresponding to YPF's own NO repurchased through open market transactions, as
of March 31, 2026, and December 31, 2025, respectively.

(3) Includes 1,677,295 and 2,139,221 as of March 31, 2026, and December 31, 2025, respectively, of nominal value
that will be canceled in pesos at the applicable exchange rate in accordance with the terms of the series issued.

(4) Includes 390,748 and 338,464 of loans granted by BNA as of March 31, 2026 and December 31, 2025, respectively.

(5) Includes 4,136 as of March 31, 2026 of pre-financing of exports granted by
BNA.

Set forth below is the evolution of the loans for three-month period ended March 31, 2026 and for the fiscal year ended December 31, 2025:

---

| | |
|:---|:---|
|  | **Loans** |
|  **Balance as of December 31, 2024** | 9214492 |
|  Proceeds from loans | 5427949 |
|  Payments of loans | (3555040) |
|  Payments of interest | (820364) |
|  Account overdrafts, net | 4719 |
|  Accrued interest <sup>(1)</sup> | 865596 |
|  Net exchange and translation differences | 4184012 |
|  Result from net monetary position <sup>(2)</sup> | (7620) |
|  Increases from business combinations | 33132 |
|  **Balance as of December 31, 2025** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15346876 |
|  Proceeds from loans | 1081404 |
|  Payments of loans | (1674053) |
|  Payments of interest | (364107) |
|  Account overdrafts, net | (4719) |
|  Accrued interest <sup>(1)</sup> | 278756 |
|  Net exchange and translation differences | (728592) |
|  Result from net monetary position <sup>(2)</sup> | 148 |
|  Increases from business combinations |  |
|  **Balance as of March 31, 2026** | 13935713 |

---

(1) Includes capitalized financial costs.

(2) Includes the adjustment for inflation of opening balances of loans of subsidiaries with the peso as functional currency
which was charged to "Other comprehensive income" in the statement of comprehensive income, and the adjustment for inflation of the period which was charged to net profit or loss in the statement of comprehensive income.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**23. LOANS (cont.)** 

Details regarding the NO of the Group are as follows:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | | | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
| <br>**Month** |<br>**Year** | **Principal value** <sup>(3)</sup> | **Principal value** <sup>(3)</sup> | <br>**Class** | **Interest rate <sup>(1)</sup>** | **Interest rate <sup>(1)</sup>** |<br>**Principal maturity** | **Non-current** | **Current** | **Non-current** | **Current** |
| &nbsp;&nbsp;&nbsp; **YPF** | &nbsp;&nbsp;&nbsp; **YPF** | &nbsp;&nbsp;&nbsp; **YPF** | &nbsp;&nbsp;&nbsp; **YPF** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; - | 1998 | U.S. dollar | 15 |  | Fixed | 10.00% | 2028 | 20412 | 856 | 21494 | 364 |
| &nbsp;&nbsp;&nbsp; July, December | 2017 | U.S. dollar | 644 | Class LIII | Fixed | 6.95% | 2027 | 890940 | 11276 | 939447 | 28006 |
| &nbsp;&nbsp;&nbsp; December | 2017 | U.S. dollar | 537 | Class LIV | Fixed | 7.00% | 2047 | 730092 | 15433 | 768782 | 2608 |
| &nbsp;&nbsp;&nbsp; June | 2019 | U.S. dollar | 399 | Class I | Fixed | 8.50% | 2029 | 548100 | 12298 | 577147 | 551 |
| &nbsp;&nbsp;&nbsp; February | 2021 | U.S. dollar | 748 | Class XVII | Fixed | 9.00% | 2029 | 739886 | 319920 | 779096 | 313660 |
| &nbsp;&nbsp;&nbsp; February | 2021 | U.S. dollar | 576 | Class XVIII | Fixed | 7.00% | 2033 | 769689 |  | 808875 | 15585 |
| &nbsp;&nbsp;&nbsp; July | 2021 | U.S. dollar | 384 | Class XX | Fixed | 5.75% | 2032 | 415839 | 80872 | 477683 | 93836 |
| &nbsp;&nbsp;&nbsp; January | 2023 | U.S. dollar | 230 | Class XXI |  |  |  |  |  |  | 222666 |
| &nbsp;&nbsp;&nbsp; April | 2023 | U.S. dollar | 38 | Class XXIV | Fixed | 1.00% | 2027 | 51681 | 92 | 54420 | 100 |
| &nbsp;&nbsp;&nbsp; June | 2023 | U.S. dollar | 213 | Class XXV |  |  |  |  |  |  | 272931 |
| &nbsp;&nbsp;&nbsp; September | 2023 | U.S. dollar | 400 | Class XXVI | Fixed | 0.00% | 2028 | 551000 |  | 580200 |  |
| &nbsp;&nbsp;&nbsp; October | 2023 | U.S. dollar | 128 | Class XXVII | Fixed | 0.00% | 2026 |  | 173622 |  | 192255 |
| &nbsp;&nbsp;&nbsp; January | 2024 | U.S. dollar | 800 | Class XXVIII | Fixed | 9.50% | 2031 | 875484 | 239286 | 1036414 | 164802 |
| &nbsp;&nbsp;&nbsp; May | 2024 | U.S. dollar | 131 | Class XXIX |  |  |  |  |  |  | 191024 |
| &nbsp;&nbsp;&nbsp; July, April | 2024/25 | U.S. dollar | 389 | Class XXX | Fixed | 1.00% | 2026 |  | 417597 |  | 535423 |
| &nbsp;&nbsp;&nbsp; September | 2024 | U.S. dollar | 540 | Class XXXI | Fixed | 8.75% | 2031 | 1440683 | 6552 | 1517683 | 30694 |
| &nbsp;&nbsp;&nbsp; October | 2024 | U.S. dollar | 125 | Class XXXII | Fixed | 6.50% | 2028 | 172188 | 2453 | 181313 | 2648 |
| &nbsp;&nbsp;&nbsp; October | 2024 | U.S. dollar | 25 | Class XXXIII | Fixed | 7.00% | 2028 | 34438 | 1136 | 36263 | 570 |
| &nbsp;&nbsp;&nbsp; January <sup>(4)</sup> | 2025 | U.S. dollar | 1632 | Class XXXIV | Fixed | 8.25% | 2034 | 2237346 | 38568 | 1565996 | 61639 |
| &nbsp;&nbsp;&nbsp; February | 2025 | U.S. dollar | 140 | Class XXXV | Fixed | 6.25% | 2027 |  | 193422 | 202432 | 1216 |
| &nbsp;&nbsp;&nbsp; May <sup>(2)</sup> | 2025 | U.S. dollar | 140 | Class XXXVII | Fixed | 7.00% | 2027 | 191412 | 1999 | 201404 | 2185 |
| &nbsp;&nbsp;&nbsp; July <sup>(2)</sup> | 2025 | U.S. dollar | 250 | Class XXXVIII | Fixed | 7.50% | 2027 | 341704 | 4990 | 359585 | 5405 |
| &nbsp;&nbsp;&nbsp; July, August <sup>(2)</sup> | 2025 | U.S. dollar | 225 | Class XXXIX | Fixed | 8.75% | 2030 | 212563 | 5014 | 223290 | 11933 |
| &nbsp;&nbsp;&nbsp; August <sup>(2)</sup> | 2025 | U.S. dollar | 51 | Class XL | Fixed | 7.50% | 2028 | 69335 | 463 | 73007 | 518 |
| &nbsp;&nbsp;&nbsp; October <sup>(4)</sup> | 2025 | U.S. dollar | 99 | Class XLI | Fixed | 6.00% | 2027 |  | 137687 | 142715 | 2142 |
| &nbsp;&nbsp;&nbsp; December <sup>(4)</sup> | 2025 | U.S. dollar | 361 | Class XLII | Fixed | 7.00% | 2027 | 493546 | 10604 | 281224 | 1572 |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10786338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1674140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10828470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2154333 |

---

(1) Nominal annual interest rate as of March 31, 2026.

(2) During the three-month period ended March 31, 2026, the Group has fully complied with the use of proceeds disclosed
in the corresponding pricing supplements.

(3) Total nominal value issued without including the nominal values canceled through exchanges or repurchases, expressed in
millions.

(4) As of the date of issuance of these condensed interim consolidated financial statements, the Group has not yet
definitively applied the proceeds disclosed in the corresponding pricing supplements. These proceeds are temporally invested until the committed plan of application is fully complied.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**24. OTHER LIABILITIES** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
|  | **Non-current** | **Current** | **Non-current** | **Current** |
|  Liabilities for concessions and assignment agreements | 132088 | 374240 | 132286 | 234259 |
|  Liabilities for contractual claims <sup>(1)</sup> | 15200 | 73670 | 78377 | 81252 |
|  Provision for operating optimizations <sup>(2)</sup> |  | 103513 |  | 31809 |
|  Liabilities for agreements <sup>(3)</sup> | 328306 | 180246 | 329496 | 230115 |
|  Miscellaneous | 1459 | 3769 | 1449 | 2876 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580311 |

---

(1) Corresponds to the liability arising from the settlement agreement entered into with Transportadora de Gas del Norte S.A.
for claims related to restrictions in the natural gas market for the period from 2007 to 2010.

(2) Includes, mainly, operating optimizations relating to Mature Fields Project, see Note 11.a.2) to the annual consolidated
financial statements and Note 12.a.2).

(3) Includes, mainly, the liability related to the assignment of the exploitation concessions in the Province of Santa Cruz
within the context of the Mature Fields Project, see Note 11.a.2) to the annual consolidated financial statements.

**25. ACCOUNTS PAYABLE** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
|  | **Non-current** | **Current** | **Non-current** | **Current** |
|  Trade payable and related parties <sup>(1)</sup> | 5600 | 3190172 | 5806 | 3149111 |
|  Guarantee deposits | 1083 | 4762 | 1197 | 4890 |
|  Payables with partners of JO and Consortiums | 1330 | 41091 | 1401 | 70101 |
|  Miscellaneous |  | 25151 |  | 21786 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3261176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3245888 |

---

(1) See Note 37 for information about related parties.

**26. REVENUES** 

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** |
|  | **2026** | **2025** |
|  Revenue from contracts with customers | 6951284 | 4862236 |
|  National Government incentives <sup>(1)</sup> | 5150 | 8584 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6956434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4870820 |

---

(1) See Note 37.

The Group's transactions and the main revenues by business segments are described in Note 6. In accordance with Note 25 to the annual consolidated financial statements, revenues from contracts with customers of the Group is classified into the following categories:

**•** **Breakdown of revenues** 

<u>Type of good or service</u> 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** |
|  | **Upstream** | **Midstream and<br>Downstream** | **LNG and<br>Integrated<br>Gas** | **New Energies** | **Central<br>Administration<br>and Others** | **Total** |
|  Diesel |  | 2453773 |  |  |  | 2453773 |
|  Gasolines |  | 1592872 |  |  |  | 1592872 |
|  Natural gas <sup>(1)</sup> | 9539 | 6872 | 424093 | 210210 |  | 650714 |
|  Crude oil | 13332 | 364844 |  |  |  | 378176 |
|  Jet fuel |  | 399124 |  |  |  | 399124 |
|  Lubricants and by-products |  | 117507 |  |  |  | 117507 |
|  LPG |  | 174751 |  |  |  | 174751 |
|  Fuel oil |  | 34118 |  |  |  | 34118 |
|  Petrochemicals |  | 147108 |  |  |  | 147108 |
|  Fertilizers and crop protection products |  | 58290 |  |  |  | 58290 |
|  Flours, oils and grains |  | 208857 |  |  |  | 208857 |
|  Asphalts |  | 32912 |  |  |  | 32912 |
|  Goods for resale at gas stations |  | 44974 |  |  |  | 44974 |
|  Income from services |  | 255 |  | 298 | 41664 | 42217 |
|  Income from construction contracts |  |  |  |  | 114010 | 114010 |
|  Virgin naphtha |  | 54771 |  |  |  | 54771 |
|  Petroleum coke |  | 104206 |  |  |  | 104206 |
|  LNG regasification |  | 1627 |  |  |  | 1627 |
|  Other goods and services | 23227 | 133848 | 3805 | 70718 | 109679 | 341277 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5930709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6951284 |

---

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**26. REVENUES (cont.)** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** |
|  | **Upstream** | **Midstream<br>and<br>Downstream** | **LNG and<br>Integrated<br>Gas** | **New<br>Energies** | **Central<br>Administration<br>and Others** | **Total** |
|  Diesel |  | 1671695 |  |  |  | 1671695 |
|  Gasolines |  | 1091366 |  |  |  | 1091366 |
|  Natural gas <sup>(1)</sup> | 9555 | 3953 | 343434 | 157501 |  | 514443 |
|  Crude oil |  | 268072 |  |  |  | 268072 |
|  Jet fuel |  | 225711 |  |  |  | 225711 |
|  Lubricants and by-products |  | 90597 |  |  |  | 90597 |
|  LPG |  | 149146 |  |  |  | 149146 |
|  Fuel oil |  | 31949 |  |  |  | 31949 |
|  Petrochemicals |  | 99902 |  |  |  | 99902 |
|  Fertilizers and crop protection products |  | 36035 |  |  |  | 36035 |
|  Flours, oils and grains |  | 147067 |  |  |  | 147067 |
|  Asphalts |  | 26517 |  |  |  | 26517 |
|  Goods for resale at gas stations |  | 38298 |  |  |  | 38298 |
|  Income from services |  |  |  | 406 | 34860 | 35266 |
|  Income from construction contracts |  |  |  |  | 103860 | 103860 |
|  Virgin naphtha |  | 34968 |  |  |  | 34968 |
|  Petroleum coke |  | 66866 |  |  |  | 66866 |
|  LNG regasification |  | 894 |  |  |  | 894 |
|  Other goods and services | 9439 | 99044 | 1859 | 46398 | 72844 | 229584 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4082080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4862236 |

---

(1) Includes 446,535 and 360,348 corresponding to sales of natural gas produced by the Company for the three-month periods
ended March 31, 2026 and 2025, respectively.

<u>Sales channels</u> 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** |
|  | **Upstream** | **Midstream<br>and<br>Downstream** | **LNG and<br>Integrated<br>Gas** | **New<br>Energies** | **Central<br>Administration<br>and Others** | **Total** |
|  Gas stations |  | 2592271 |  |  |  | 2592271 |
|  Power plants |  |  | 164148 | 92581 |  | 256729 |
|  Distribution companies |  |  | 52718 |  |  | 52718 |
|  Retail distribution of natural gas |  |  |  | 123585 |  | 123585 |
|  Industries, transport and aviation | 8148 | 1431424 | 207239 | 28488 |  | 1675299 |
|  Agriculture |  | 604903 |  |  |  | 604903 |
|  Petrochemical industry |  | 181350 |  |  |  | 181350 |
|  Trading |  | 769976 |  |  |  | 769976 |
|  Oil companies | 13332 | 162331 |  |  |  | 175663 |
|  Commercialization of LPG |  | 81593 |  |  |  | 81593 |
|  Other sales channels | 24618 | 106861 | 3793 | 36572 | 265353 | 437197 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5930709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6951284 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** |
|  | **Upstream** | **Midstream<br>and<br>Downstream** | **LNG and<br>Integrated<br>Gas** | **New<br>Energies** | **Central<br>Administration<br>and Others** | **Total** |
|  Gas stations |  | 1828020 |  |  |  | 1828020 |
|  Power plants |  |  | 134011 | 19588 |  | 153599 |
|  Distribution companies |  |  | 52540 |  |  | 52540 |
|  Retail distribution of natural gas |  |  |  | 99083 |  | 99083 |
|  Industries, transport and aviation | 9555 | 1022505 | 158710 | 76482 |  | 1267252 |
|  Agriculture |  | 402443 |  |  |  | 402443 |
|  Petrochemical industry |  | 145412 |  |  |  | 145412 |
|  Trading |  | 496248 |  |  |  | 496248 |
|  Oil companies |  | 53255 |  |  |  | 53255 |
|  Commercialization of LPG |  | 69164 |  |  |  | 69164 |
|  Other sales channels | 9439 | 65033 | 32 | 9152 | 211564 | 295220 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4082080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4862236 |

---

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**26. REVENUES (cont.)** 

<u>Target market</u> 

Sales in the domestic market amounted to 5,719,253 and 4,060,130 for the three-month periods ended March 31, 2026 and 2025, respectively.

Sales in the international market amounted to 1,232,031 and 802,106 for the three -month periods ended March 31, 2026 and 2025, respectively.

**•** **Contract balances** 

The following table presents information regarding credits, contract assets and contract liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
|  | **Non-current** | **Current** | **Non-current** | **Current** |
|  Credits for contracts included in the item of "Trade receivables" | 16782 | 2513239 | 15572 | 2435111 |
|  Contract assets |  | 7232 |  | 4522 |
|  Contract liabilities | 291460 | 199670 | 261205 | 169937 |

---

Contract assets are mainly related to the activities carried out by the Group under construction contracts.

Contract liabilities are mainly related to advances received from customers under transportation service contracts.

For the three-month periods ended March 31, 2026 and 2025 the Group has recognized 51,100 and 45,112, respectively, in the "Revenues from contracts with customers" line under the "Revenues" line item in the statement of comprehensive income, which have been included in "Contract liabilities" line item in the statement of financial position at the beginning of each year.

**27. COSTS** 

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended<br>March 31,** | **For the three-month periods ended<br>March 31,** |
|  | **2026** | **2025** |
|  Inventories at beginning of year | 2098590 | 1593666 |
|  Purchases | 1797821 | 1082386 |
|  Production costs <sup>(1)</sup> | 2688463 | 2495349 |
|  Translation effect | (104476) | 64702 |
|  Adjustment for inflation <sup>(2)</sup> | 6514 | 4262 |
|  Other movements | 2917 |  |
|  Inventories at end of the period | (2011757) | (1733983) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4478072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3506382 |

---

(1) See Note 28.

(2) Corresponds to the adjustment for inflation of opening balances of inventories of subsidiaries with the peso as functional
currency which was charged to "Other comprehensive income" in the statement of comprehensive income.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**28. EXPENSES BY NATURE** 

The Group presents the statement of comprehensive income by classifying expenses according to their function as part of the "Costs", "Administrative expenses", "Selling expenses" and "Exploration expenses" line items. The following additional information is disclosed as required on the nature of the expenses and their relation to the function within the Group for the three-month periods ended March 31, 2026 and 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** | **For the three-month period ended March 31, 2026** |
|  | **Production** <br>**costs <sup>(2)</sup>** | **Administrative** <br>**expenses <sup>(3)</sup>** | **Selling<br> expenses** | **Exploration <br>expenses** | **Total** |
|  Salaries and social security taxes | 301954 | 153558 | 59387 | 4536 | 519435 |
|  Fees and compensation for services | 23890 | 97264 | 17224 | 54 | 138432 |
|  Other personnel expenses | 92964 | 11852 | 5806 | 711 | 111333 |
|  Taxes, charges and contributions | 43664 | 71515 | 312924<sup>(1)</sup> |  | 428103 |
|  Royalties, easements and fees | 369584 |  | 851 | 1951 | 372386 |
|  Insurance | 12489 | 2818 | 307 |  | 15614 |
|  Rental of real estate and equipment | 39571 | 467 | 3647 |  | 43685 |
|  Survey expenses |  |  |  | 1323 | 1323 |
|  Depreciation of property, plant and equipment | 864003 | 20225 | 37452 |  | 921680 |
|  Amortization of intangible assets | 14457 | 9071 | 183 |  | 23711 |
|  Depreciation of right-of-use assets | 97784 | 12 | 4175 |  | 101971 |
|  Industrial inputs, consumable materials and supplies | 114666 | 5057 | 3153 | 726 | 123602 |
|  Operation services and other service contracts | 52443 | 5053 | 22285 | 1551 | 81332 |
|  Preservation, repair and maintenance | 425951 | 12057 | 12948 | 2309 | 453265 |
|  Unproductive exploratory drillings |  |  |  | 12792 | 12792 |
|  Transportation, products and charges | 206655 |  | 161570 |  | 368225 |
|  Provision for doubtful receivables |  |  | 3585 |  | 3585 |
|  Publicity and advertising expenses |  | 18836 | 14394 |  | 33230 |
|  Fuel, gas, energy and miscellaneous | 28388 | 5676 | 28124 | 1564 | 63752 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2688463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3817456 |

---

(1) Includes 88,942 corresponding to export withholdings and 193,875 corresponding to turnover tax.

(2) Includes 10,069 corresponding to research and development activities.

(3) Includes 9,956 corresponding to fees and remunerations of Directors of YPF's Board of Directors and Statutory
Auditors.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** | **For the three-month period ended March 31, 2025** |
|  | **Production<br>costs <sup>(2)</sup>** | **Administrative<br>expenses <sup>(3)</sup>** | **Selling<br>expenses** | **Exploration<br>expenses** | **Total** |
|  Salaries and social security taxes | 283855 | 74112 | 37962 | 1040 | 396969 |
|  Fees and compensation for services | 25159 | 74312 | 13267 | 113 | 112851 |
|  Other personnel expenses | 84634 | 9417 | 3780 | 1269 | 99100 |
|  Taxes, charges and contributions | 23967 | 52082 | 237711<sup>(1)</sup> |  | 313760 |
|  Royalties, easements and fees | 302677 |  | 614 | 811 | 304102 |
|  Insurance | 22448 | 854 | 307 |  | 23609 |
|  Rental of real estate and equipment | 70901 | 38 | 3783 |  | 74722 |
|  Survey expenses |  |  |  | 18491 | 18491 |
|  Depreciation of property, plant and equipment | 720502 | 11109 | 26066 |  | 757677 |
|  Amortization of intangible assets | 9716 | 4475 | 1058 |  | 15249 |
|  Depreciation of right-of-use assets | 74219 | 14 | 3303 |  | 77536 |
|  Industrial inputs, consumable materials and supplies | 128938 | 1279 | 4593 | 672 | 135482 |
|  Operation services and other service contracts | 158866 | 4164 | 12802 | 3957 | 179789 |
|  Preservation, repair and maintenance | 431523 | 9185 | 11292 | 5508 | 457508 |
|  Unproductive exploratory drillings |  |  |  | 78 | 78 |
|  Transportation, products and charges | 136340 | 2 | 131698 |  | 268040 |
|  Provision for doubtful receivables |  |  | 4344 |  | 4344 |
|  Publicity and advertising expenses |  | 19224 | 13393 |  | 32617 |
|  Fuel, gas, energy and miscellaneous | 21604 | 8709 | 22888 | 556 | 53757 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2495349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3325681 |

---

(1) Includes 68,109 corresponding to export withholdings and 156,036 corresponding to turnover tax.

(2) Includes 8,357 corresponding to research and development activities.

(3) Includes 2,613 corresponding to fees and remunerations of Directors of YPF's Board of Directors and Statutory
Auditors.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**29. OTHER NET OPERATING RESULTS** 

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended** <br>**March 31,** | **For the three-month periods ended** <br>**March 31,** |
|  | **2026** | **2025** |
|  Lawsuits | (18011) | (9290) |
|  Export Increase Program <sup>(1)</sup> |  | 17470 |
|  Result from sale of assets <sup>(2)</sup> | 5475 | 15042 |
|  Result from changes in fair value of assets held for sale <sup>(2)</sup> | 19979 | (214500) |
|  Provision for severance indemnities <sup>(2)</sup> |  | (28026) |
|  Provision for operating optimizations <sup>(2)</sup> | (98773) |  |
|  Provision for obsolescence of materials and equipment <sup>(2)</sup> | 11934 | (145544) |
|  Miscellaneous | (28114) | 22551 |
|  | (107510) | (342297) |

---

(1) See Note 35.j) to the annual consolidated financial statements.

(2) See Note 11.a.2) to the annual consolidated financial and Note 12.a.2).

**30. NET FINANCIAL RESULTS** 

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** |
|  | **2026** | **2025** |
|  <u>Financial income</u> |  |  |
|  Interest on cash and cash equivalents and investments in financial assets | 13352 | 6794 |
|  Interest on trade receivables | 24990 | 9549 |
|  Other financial income | 8086 | 1334 |
|  **Total financial income** | 46428 | 17677 |
|  <u>Financial costs</u> |  |  |
|  Loan interest | (275701) | (171157) |
|  Hydrocarbon well abandonment provision financial accretion <sup>(1)</sup> | (72446) | (99674) |
|  Other financial costs | (74055) | (25886) |
|  **Total financial costs** | (422202) | (296717) |
|  <u>Other financial results</u> |  |  |
|  Exchange differences generated by loans | (1255) | 1476 |
|  Exchange differences generated by cash and cash equivalents and investments in financial assets | 19490 | (9522) |
|  Other exchange differences, net | (97206) | 13944 |
|  Result on financial assets at fair value through profit or loss | 39227 | 33373 |
|  Result from derivative financial instruments | (8348) | 738 |
|  Result from net monetary position | (29604) | (11062) |
|  **Total other financial results** | (77696) | 28947 |
|  **Total net financial results** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(453470) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(250093) |

---

(1) Includes 50,913 and 68,911 corresponding to the financial accretion of liabilities directly associated with assets held
for sale for the three-month periods ending March 31, 2026 and 2025, respectively, see Notes 2.b.13) and 11.a) to the annual consolidated financial statements.

**31. INVESTMENTS IN JOINT OPERATIONS AND CONSORTIUMS** 

The assets and liabilities as of March 31, 2026 and December 31, 2025, and expenses for the three-month periods ended March 31, 2026 and 2025, of JO and Consortiums in which the Group participates are as follows:

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
|  Non-current assets <sup>(1)</sup> | 9761534 | 10060481 |
|  Current assets | 548151 | 489163 |
|  Total assets | 10309685 | 10549644 |
|  Non-current liabilities | 339309 | 354707 |
|  Current liabilities | 1032115 | 808643 |
|  Total liabilities | 1371424 | 1163350 |

---

(1) Does not include charges for impairment of property, plant and equipment because they are recorded by the partners
participating in the JO and Consortiums.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** |
|  | **2026** | **2026** | **2025** | **2025** |
|  Production cost |  | 1005135 |  | 710984 |
|  Exploration expenses |  | 4197 |  | 4060 |

---

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**32. SHAREHOLDERS' EQUITY** 

As of March 31, 2026, the Company's capital amounts to 3,921 and treasury shares amount to 12 represented by 393,312,793 book-entry shares of common stock and divided into four classes of shares (A, B, C and D), with a par value of 10 pesos and 1 vote per share. These shares are fully subscribed, paid-in and authorized for stock exchange listing.

As of March 31, 2026, there are 3,764 Class A outstanding shares. As long as any Class A share remains outstanding, the affirmative vote of the Argentine Government is required for: (i) mergers; (ii) acquisitions of more than 50% of YPF shares in an agreed or hostile bid; (iii) transfers of all the YPF's exploitation and exploration rights; (iv) the voluntary dissolution of YPF; (v) change of corporate and/or tax address outside Argentina; or (vi) make an acquisition that would result in the purchaser holding 15% or more of the Company's capital stock, or 20% or more of the outstanding Class D shares. Items (iii) and (iv) also require prior approval by the Argentine Congress.

During the three-month periods ended March 31, 2026 and 2025, the Company has not repurchased any of its own shares.

On April 30, 2026, the General Shareholders' Meeting was held, which approved the statutory financial statements of YPF corresponding to the year ended on December 31, 2025 and, additionally, approved the following in relation to the retained earnings: (i) completely release the reserve for purchase of treasury shares and the reserve for investments; (ii) absorb accumulated losses in retained earnings up to 1,096,460 (iii) allocate the amount of 38,468 to appropriate a reserve for purchase of treasury shares; and (iv) allocate the amount of 8,415,450 to appropriate a reserve for investments.

**33. EARNINGS PER SHARE** 

The following table presents the net profit or loss attributable to shareholders of the parent company and the number of shares that have been used for the calculation of the basic and diluted earnings per share:

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended** <br>**March 31,** | **For the three-month periods ended** <br>**March 31,** |
|  | **2026** | **2025** |
|  Net profit / (loss) | 606289 | (19864) |
|  Weighted average number of shares outstanding | 392082386 | 392203637 |
|  Basic and diluted earnings per share | 1546.33 | (50.65) |

---

There are no financial instruments or other contracts outstanding issued by YPF that imply the issuance of potential ordinary shares, thus the diluted earnings per share equals the basic earnings per share.

**34. CONTINGENT ASSETS AND LIABILITIES** 

Contingent assets and liabilities are described in Note 33 to the annual consolidated financial statements. Updates for the three-month period ended March 31, 2026, are described below:

**•** **Petersen Energía Inversora, S.A.U. and Petersen Energía, S.A.U. (collectively, "Petersen") - Eton Park Capital Management, L.P., Eton Park Master Fund, LTD. and Eton Park Fund, L.P. (collectively, "Eton Park", and together with Petersen, the "Plaintiffs")** 

On March 10, 2026, in proceedings brought by Bainbridge Fund Ltd. against the Republic, the Republic filed a motion to stay its appeal of the turnover order with the consent of Bainbridge Fund Ltd., until confirmation of a settlement between the parties. On March 16, 2026, the Court of Appeals ordered that the Republic's appeal of the turnover order be held in abeyance pending settlement.

On March 18, 2026, the Court of Appeals stayed all post-judgment proceedings in the District Court, including discovery, pending the appeals of the District Court's September 15, 2023 judgment.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**34. CONTINGENT ASSETS AND LIABILITIES (cont.)** 

On March 27, 2026, briefing was completed in YPF's appeals of the District Court's September 17, 2025 and November 10, 2025 orders. Oral argument was calendared for April 16, 2026.

Likewise, on March 27, 2026, the Court of Appeals issued its decision in the appeals of the District Court's September 15, 2023 judgment. The Court of Appeals' decision affirmed the District Court's determination that YPF has no contractual liability and owes no damages to Plaintiffs, and affirmed the dismissal of all of Plaintiffs' claims against YPF. In addition, the Court of Appeals reversed the District Court's judgment against the Republic on the basis that Plaintiffs' contract claim is not cognizable under Argentine law and vacated the turnover order in Plaintiffs' proceedings. YPF is not a party to the turnover proceedings.

On April 2, 2026, the Court of Appeals directed the parties to submit letter briefing regarding whether, in light of its March 27, 2026 decision, the other pending appeals, including YPF's appeals, should be dismissed as moot.

On April 6, 2026, the District Court stayed all proceedings pending receipt of the mandate from the Court of Appeals and denied Plaintiffs' motion for sanctions and contempt against the Republic as moot, without prejudice to refiling. YPF is not a party to this motion.

On April 9, 2026, the Court of Appeals granted Plaintiffs' motion for an extension of time to file a petition for rehearing, and set May 8, 2026, as the deadline.

On April 10, 2026, after receiving briefs from all parties, the Court of Appeals adjourned the oral arguments scheduled for April 16 and held the pending appeals in abeyance, pending resolution of any rehearing or certiorari petitions related to the March 27, 2026 decision.

YPF will continue to defend itself in accordance with the applicable legal procedures and available defenses.

The Company will continue to reassess the status of these litigations and their possible impact on the results and financial situation of the Group, as needed.

**35. CONTRACTUAL COMMITMENTS** 

During the three-month period ended March 31, 2026 there were no significant updates to the contractual commitments described in Note 34 to the annual consolidated financial statements.

**36. MAIN REGULATIONS** 

Main regulations are described in Note 35 to the annual consolidated financial statements. Updates for the three-month period ended March 31, 2026, are described below:

**•** **Regulations applicable to natural gas and LNG activities** 

On March 13, 2026, in the context of the emergency in the national energy sector (see Note 35.e) to the annual consolidated financial statements), SE Resolution No. 66/2026 was published, establishing the "Reconfiguration of the Natural Gas Transportation System". On April 14, 2026, ENARGAS Resolution No. 409/2026 was published, which, among other things, instructs transporters and distributors to enter into new firm transportation contracts or to adjust existing ones in accordance with SE Resolution No. 66/2026. Likewise, on May 1, 2026, the applicable regulatory framework defined by ENARGAS entered into force.

**•** **Tax Regulations** 

On March 6, 2026, Law No. 27,802, the "Labor Modernization Law" was published, introducing amendments to the Income Tax Law. The law establishes that loss carryforwards arising in fiscal years beginning on or after January 1, 2025, shall be adjusted based on the variation in the CPI published by INDEC between the closing month of the fiscal year in which such loss carryforwards originated and the closing month of the fiscal year in which they are settled. Likewise, the Labor Modernization Law introduced changes to Argentina's labor regime related to the severance indemnity schemes, the collective negotiation frameworks, the calculation of interest in labor proceedings, among other things.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**36. MAIN REGULATIONS (cont.)** 

**•** **CNV Regulatory Framework** 

<u>Information requirements as Settlement and Clearing Agent and Trading Agent</u>

As of the date of issuance of these consolidated financial statements, the Company is registered in the CNV under the category "Settlement and Clearing Agent and Trading Agent - Direct Participant", record No. 549. Considering the Company's business and the CNV rules, the Company will not, under any circumstance, offer brokerage services to third parties for transactions in markets under the jurisdiction of the CNV, and it will also not open operating accounts to third parties to issue orders and trade in markets under the jurisdiction of the CNV.

In accordance with the regulations to the CNV, the Company is subject to the provisions of Section 5 c), Chapter II, Title VII of the regulations to the CNV, "Settlement and Clearing Agent - Direct Participant". In this respect, as set forth in Section 13, Title VII, Chapter II, of the CNV rules, as of March 31, 2026, the equity of the Company exceeds the minimum equity required by such rules, which amounts to 873.

<u>Documentation keeper</u>

According to the dispositions established in Article 48, Section XII, Chapter IV, Title II of the CNV rules, the Company informs that supporting documentation of YPF's operations, which is not in YPF's headquarters, is stored in the following companies:

- AdeA Administradora de Archivos S.A. located in Barn 3 - Route 36, Km. 31.5 - Florencio Varela - Province of Buenos Aires.

- Custodia Archivos del Comahue S.A. - Parque Industrial Este, Block N Plot 2 - Capital of Neuquén, Province of Neuquén.

Additionally, it is placed on record that the detail of the documentation given in custody is available at the registered office, as well as the documents mentioned in Section 5, Subsection a.3, Section I, Chapter V, Title II of the CNV rules.

<u>Additional and/or complementary information</u> 

According to the dispositions established in Article 3, item 7, section d), Chapter III, Title IV of the CNV rules relating to the disclosure requirement of unpaid accrued dividends on preferred shares, we inform that the Company has not issued any preferred shares.

According to the dispositions established in Article 3, item 7, section e), Chapter III, Title IV of the CNV rules relating to the disclosure requirement of the conditions, circumstances and deadlines for the cessation of restrictions to the distribution of unappropriated retained earnings and losses and/or reserves, we inform that the restrictions to the distribution of unappropriated retained earnings and losses and/or reserves are detailed in Note 31.

In accordance with the limits set forth in Article 31 of the LGS and in accordance with the provisions of Article 6, Chapter III, Title IV of the CNV regulations, we inform those investments in other companies, excluding those with complementary or integrating corporate purpose, do not exceed such limits.

<u>Effect of the translation of the shareholders' contributions</u> 

In accordance with the requirement of the Section 5, Chapter III, Title IV of the CNV rules, the table below discloses the translation effect originated in the accounts of "Capital", "Adjustment to capital", "Treasury shares" and "Adjustment to treasury shares" of the equity:

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** |
|  | **2026** | **2025** |
|  **Balance at the beginning of the fiscal year** | 5695203 | 4043221 |
|  Other comprehensive income | (287130) | 165199 |
|  **Balance at the end of the period** | 5408073 | 4208420 |

---

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**36. MAIN REGULATIONS (cont.)** 

As of March 31, 2026 and 2025 the translation effect corresponding to the "Issuance premiums" account amounts to 880,950 and 685,753, respectively, and is included within "Other comprehensive income".

As of March 31, 2026 and 2025, the translation effect corresponding to the accounts "Share-based benefit plans", "Acquisition cost of treasury shares" and "Share trading premium" amounts to (88,997) and (68,632), respectively, and is included within "Other comprehensive income".

**37. BALANCES AND TRANSACTIONS WITH RELATED PARTIES** 

The tables below present the balances with associates and joint ventures as of March 31, 2026 and December 31, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
|  | **Other receivables** | **Other receivables** | **Trade<br>receivables** | **Investments in<br> financial assets** | **Accounts<br>payable** | **Contract<br>liabilities** | **Contract<br>assets** |
|  | **Non-Current** | **Current** | **Current** | **Current** | **Current** | **Current** | **Current** |
|  **Joint Ventures:** |  |  |  |  |  |  |  |
|  YPF EE |  | 8477 | 10375 | 5750 | 43699 |  |  |
|  Profertil <sup>(1)</sup> |  |  |  |  |  |  |  |
|  MEGA |  |  | 56887 |  | 7559 | 141 | 2573 |
|  Refinor <sup>(1)</sup> |  |  |  |  |  |  |  |
|  OLCLP <sup>(1)</sup>  |  |  |  |  |  |  |  |
|  CT Barragán |  |  | 1 |  |  |  |  |
|  OTA |  |  |  |  | 1805 |  |  |
|  |  | 8477 | 67263 | 5750 | 53063 | 141 | 2573 |
|  **Associates:** |  |  |  |  |  |  |  |
|  CDS |  |  | 10579 |  |  |  |  |
|  YPF Gas |  |  | 14768 |  | 683 | 558 |  |
|  Oldelval | 207327 | 71372 | 94 | 6643 | 23084 |  |  |
|  Termap |  |  |  |  | 3117 |  |  |
|  GPA |  |  |  |  | 8222 |  |  |
|  OTAMERICA | 63705 |  |  |  | 6683 |  |  |
|  Gas Austral |  |  | 169 |  | 10 |  |  |
|  VMOS |  | 12582 | 61605 |  |  | 74120 |  |
|  | 271032 | 83954 | 87215 | 6643 | 41799 | 74678 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2573 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Other receivables** | **Other receivables** | **Trade<br>receivables** | **Investments in<br> financial assets** | **Accounts<br>payable** | **Contract<br>liabilities** | **Contract<br>assets** |
|  | **Non-Current** | **Current** | **Current** | **Current** | **Current** | **Current** | **Current** |
|  **Joint Ventures:** |  |  |  |  |  |  |  |
|  YPF EE |  | 8787 | 8043 | 5924 | 46995 |  |  |
|  Profertil <sup>(1)</sup> |  |  |  |  |  |  |  |
|  MEGA |  |  | 46895 |  | 32 | 194 | 4238 |
|  Refinor <sup>(1)</sup> |  |  |  |  |  |  |  |
|  OLCLP <sup>(1)</sup>  |  |  |  |  |  |  |  |
|  CT Barragán |  |  | 1 |  |  |  |  |
|  OTA |  | 902 | 1 |  | 5126 |  |  |
|  |  | 9689 | 54940 | 5924 | 52153 | 194 | 4238 |
|  **Associates:** |  |  |  |  |  |  |  |
|  CDS |  |  | 1289 |  |  |  |  |
|  YPF Gas |  |  | 14120 |  | 1131 |  |  |
|  Oldelval | 222908 | 18970 | 70 | 6748 | 47529 |  |  |
|  Termap |  |  |  |  | 2271 |  |  |
|  GPA |  |  |  |  | 2948 |  |  |
|  OTAMERICA | 67081 |  | 1267 | 865 | 4193 |  |  |
|  Gas Austral |  |  | 200 |  | 8 |  |  |
|  VMOS |  | 22559 | 77220 |  |  | 64119 |  |
|  | 289989 | 41529 | 94166 | 7613 | 58080 | 64119 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4238 |

---

(1) See Note 3 to the annual consolidated financial statements.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**37. BALANCES AND TRANSACTIONS WITH RELATED PARTIES (cont.)** 

The table below presents the transactions with associates and joint ventures for the three-month periods ended March 31, 2026 and 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** | **For the three-month period ended March 31,** |
|  | **2026** | **2026** | **2026** | **2025** | **2025** | **2025** |
|  | **Revenues** | **Costs and expenses** | **Net interest**<br> **income (loss)** | **Revenues** | **Costs and<br> expenses** | **Net**<br>**interest**<br> **income** <br>**(loss)** |
|  **Joint Ventures:** |  |  |  |  |  |  |
|  YPF EE | 5671 | 44243 |  | 5186 | 38232 | 48 |
|  Profertil <sup>(1)</sup> |  |  |  | 17572 | 16486 |  |
|  MEGA | 93746 | 21585 | (71) | 90718 | 1063 |  |
|  Refinor <sup>(1)</sup> |  |  |  | 17259 | 2752 | 215 |
|  OLCLP <sup>(1)</sup> |  |  |  | 216 | 3730 |  |
|  CT Barragán | 3 |  |  | 2 |  |  |
|  OTA | 19 | 6150 |  | 11 | 6123 |  |
|  | 99439 | 71978 | (71) | 130964 | 68386 | 263 |
|  **Associates:** |  |  |  |  |  |  |
|  CDS | 9256 |  | 16 |  |  | 3 |
|  YPF Gas | 22110 | 492 | 1230 | 19391 | 1164 | 10 |
|  Oldelval | 171 | 48074 | 5 | 123 | 18892 | 1 |
|  Termap |  | 6979 |  |  | 6328 |  |
|  GPA |  | 7662 |  |  | 6601 |  |
|  OTAMERICA | 10 | 12027 |  | 8 | 6345 | 1 |
|  Gas Austral | 750 | 13 |  | 890 |  |  |
|  VMOS | 69995 |  |  | 4679 |  |  |
|  | 102292 | 75247 | 1251 | 25091 | 39330 | 15 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147225 | 1180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107716 | 278 |

---

(1) See Note 3 to the annual consolidated financial statements

Additionally, in the normal course of business and considering being the main energy group of Argentina, the Group's clients and suppliers portfolio encompasses both private sector as well as national public sector entities. As required by IAS 24 "Related party disclosures", among the major transactions above mentioned the most important are:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Balances <sup>(15)</sup>** | **Balances <sup>(15)</sup>** | **Transactions** | **Transactions** |
| | | **Receivables / (Liabilities)** | **Receivables / (Liabilities)** | **Income / (Costs)** | **Income / (Costs)** |
| | | **March 31,** <br>**2026** | **December 31,** <br>**2025** | **For the three-month periods<br>ended March 31,** | **For the three-month periods<br>ended March 31,** |
| <br>**Client / Suppliers** | <br>**Ref.** | **March 31,** <br>**2026** | **December 31,** <br>**2025** | **2026** | **2025** |
| &nbsp;&nbsp;&nbsp;&nbsp; SE | (1) (14) | 42522 | 60005 | 3310 | 6396 |
| &nbsp;&nbsp;&nbsp;&nbsp; SE | (2) (14) | 636 | 1088 | 596 | 674 |
| &nbsp;&nbsp;&nbsp;&nbsp; SE | (3) (14) | 167 | 167 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; SE | (4) (14) | 3662 | 6189 | 1244 | 1514 |
| &nbsp;&nbsp;&nbsp;&nbsp; SE | (5) (14) | 6813 | 6813 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Secretary of Transport | (6) (14) | 5123 | 5210 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Secretary of Industry | (7) (14) |  | 172 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; CAMMESA | (8) | 157005 | 126908 | 177372 | 143628 |
| &nbsp;&nbsp;&nbsp;&nbsp; CAMMESA | (9) | (1310) | (2087) | (5491) | (1617) |
| &nbsp;&nbsp;&nbsp;&nbsp; ENARSA | (10) | 94971 | 184188 | 28532 | 25928 |
| &nbsp;&nbsp;&nbsp;&nbsp; ENARSA | (11) | (46156) | (47674) | (2961) | (2497) |
| &nbsp;&nbsp;&nbsp;&nbsp; Aerolíneas Argentinas S.A. | (12) | 39859 | 47540 | 106171 | 84336 |
| &nbsp;&nbsp;&nbsp;&nbsp; Aerolíneas Argentinas S.A. | (13) | (19) | (20) |  | (8) |

---

(1) Benefits for the Plan GasAr 2020-2024 and Plan GasAr 2023-2028, see Note 35.f.1) to the annual consolidated financial
statements.

(2) Benefits for the propane gas supply agreement for undiluted propane gas distribution networks, see Note 35.f.2)
"Propane Network Agreement" section to the annual consolidated financial statements.

(3) Benefits for the recognition of the financial cost generated by payment deferral by providers of the distribution service
of natural gas and undiluted propane gas through networks, see Note 36 to the annual consolidated financial statements.

(4) Compensation for the lower income that natural gas distribution services by companies receive from their users, see Note
35. c.3) to the annual consolidated financial statements.

(5) Compensation by Decree No. 1,053/2018, see Note 35.c.1) to the annual consolidated financial statements.

(6) Compensation for providing diesel to public transport of passengers at a differential price, see Note 36 to the annual
consolidated financial statements.

(7) Incentive for domestic manufacturing of capital goods, for the benefit of AESA, see Note 36 to the annual consolidated
financial statements..

(8) Sales of fuel oil, diesel, natural gas and transportation and distribution services.

(9) Purchases of electrical energy.

(10) Sales of natural gas and provision of regasification service of LNG and construction inspection service.

(11) Purchases of natural gas and crude oil.

(12) Sales of jet fuel.

(13) Purchases of miles for YPF Serviclub Program and publicity expenses.

(14) Income from incentives recognized according to IAS 20, see Note 2.b.12) "Income from Government incentive
programs" section to the annual consolidated financial statements.

(15) Do not include, if applicable, the provision for doubtful trade receivables.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**37. BALANCES AND TRANSACTIONS WITH RELATED PARTIES (cont.)** 

Additionally, the Group has entered into certain financing and insurance transactions with entities related to the national public sector. Such transactions consist of certain financial transactions that are described in Notes 16, 17 and 23 and transactions with Nación Seguros S.A. related to certain insurance policies contracts.

As of March 31, 2026, the Group holds Bonds of the Argentine Republic 2029 and 2030, Government Bonds and BCRA bonds (BOPREAL, for its acronym in spanish) identified as investments in financial assets (see Note 16).

In addition, in connection with the investment agreement signed between YPF and subsidiaries of Chevron Corporation, YPF has an indirect non-controlling interest in Compañía de Hidrocarburo No Convencional S.R.L. ("CHNC"). During the three-month periods ended March 31, 2026 and 2025, YPF and CHNC carried out transactions such as the purchases of crude oil by YPF for 30,630 and 142,604, respectively, among others. These transactions were consummated in accordance with the general and regulatory conditions of the market. As a result, as of March 31, 2026, YPF has a net balance receivable from CHNC of 1,208 and as of December 31, 2025 the net balance payable to CHNC amounted to 18,842, respectively. See Note 36 to the annual consolidated financial statements.

The table below presents the accrued compensation for the YPF's key management personnel, including members of the Board of Directors and first-line executives, managers with executive functions appointed by the Board of Directors, for the three-month periods ended March 31, 2026 and 2025:

---

| | | |
|:---|:---|:---|
|  | **For the three-month periods ended March 31,** | **For the three-month periods ended March 31,** |
|  | **2026** | **2025** |
|  Short-term benefits <sup>(1)</sup> | 11268 | 6092 |
|  Share-based benefits <sup>(3)</sup> | 43704 | 3251 |
|  Post-retirement benefits | 289 | 238 |
|  | 55261<sup>(2)</sup> | 9581 |

---

(1) Does not include social security contributions of 2,574 and 1,373 for the three-month periods ended March 31, 2026
and 2025, respectively.

(2) The accrued compensation for the YPF's key management personnel, to the functional currency of the Company,
correspond to US$39 million and US$9 million for the years ended March 31, 2026 and 2025, respectively.

(3) Include Value Generation Plan, see Note 38 and Note 37 to the annual consolidated financial statements.

**38. EMPLOYEE BENEFIT PLANS AND SIMILAR OBLIGATIONS** 

Note 37 to the annual consolidated financial statements describes the main characteristics and accounting treatment for employee benefit plans and similar obligations implemented by the Group.

<u>Retirement plan</u>

The amount charged to expense related to the Retirement Plan was 1,927 and 1,400 for the three-month periods ended March 31, 2026 and 2025, respectively.

<u>Short-term benefit programs</u>

The amount charged to expense related to the short-term benefit programs was 51,932 and 45,383 for the three-month periods ended March 31, 2026 and 2025, respectively.

<u>Share-based benefit plans</u>

As of March 31, 2026, there are 4.6 million number of PSARs outstanding with and a weighted average fair value of US$29.95 per PSARs. The charge to income related to the Value Creation Plan was a loss of 52,679 and a recovery of 604 for the three-month periods ended March 31, 2026 and 2025, respectively. As of December 31, 2025, weighted average fair value was US$20.84 per PSARs.

The amount charged to expense in relation with the remaining share-based benefit plans was 4,921 and 2,770 to be settled in equity instruments, for the three-month periods ended March 31, 2026 and 2025, respectively.

Note 2.b.11) to the annual consolidated financial statements describes the accounting policies for share-based benefit plans. Repurchases of treasury shares are disclosed in Note 32.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

------

##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

---

| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

---

**39. ASSETS AND LIABILITIES IN CURRENCIES OTHER THAN THE PESO** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Amount in<br>currencies<br>other than<br> the peso** | **Exchange<br>rate in<br> force <sup>(1)</sup>** | **Total** | **Amount in<br>currencies<br>other than<br> the peso** | **Exchange<br>rate in<br> force <sup>(1)</sup>** | **Total** |
|  **<u>Non-current assets</u>** |  |  |  |  |  |  |
|  <u>Other receivables</u> |  |  |  |  |  |  |
|  U.S. dollar | 445 | 1373.00 | 610691 | 466 | 1446.00 | 673812 |
|  **Total non-current assets** |  |  | 610691 |  |  | 673812 |
|  **<u>Current assets</u>** |  |  |  |  |  |  |
| <u>Other receivables</u> |  |  |  |  |  |  |
|  U.S. dollar | 247 | 1373.00 | 338640 | 676 | 1446.00 | 976984 |
|  Chilean peso | 7446 | 1.48 | 11020 | 10035 | 1.59 | 15956 |
|  <u>Trade receivables</u> |  |  |  |  |  |  |
|  U.S. dollar | 750 | 1373.00 | 1029420 | 621 | 1446.00 | 898569 |
|  <u>Investments in financial assets</u> |  |  |  |  |  |  |
|  U.S. dollar | 366 | 1373.00 | 502908 | 241 | 1446.00 | 347947 |
|  <u>Cash and cash equivalents</u> |  |  |  |  |  |  |
|  U.S. dollar | 707 | 1373.00 | 970321 | 440 | 1446.00 | 635922 |
|  **Total current assets** |  |  | 2852309 |  |  | 2875378 |
|  **Total assets** |  |  | 3463000 |  |  | 3549190 |
|  **<u>Non-current liabilities</u>** |  |  |  |  |  |  |
| <u>Provisions</u> |  |  |  |  |  |  |
|  U.S. dollar | 534 | 1382.00 | 737970 | 521 | 1455.00 | 758001 |
|  <u>Contract liabilities</u> |  |  |  |  |  |  |
|  U.S. dollar | 211 | 1382.00 | 291460 | 180 | 1455.00 | 261205 |
|  <u>Salaries and social security</u> |  |  |  |  |  |  |
|  U.S. dollar | 95 | 1382.00 | 130646 | 57 | 1455.00 | 83504 |
|  <u>Lease liabilities</u> |  |  |  |  |  |  |
|  U.S. dollar | 331 | 1382.00 | 457536 | 272 | 1455.00 | 396386 |
|  <u>Loans</u> |  |  |  |  |  |  |
|  U.S. dollar | 8470 | 1382.00 | 11706020 | 8140 | 1455.00 | 11843654 |
|  <u>Other liabilities</u> |  |  |  |  |  |  |
|  U.S. dollar | 333 | 1382.00 | 460394 | 357 | 1455.00 | 519892 |
|  **Total non-current liabilities** |  |  | 13784026 |  |  | 13862642 |
|  **<u>Current liabilities</u>** |  |  |  |  |  |  |
|  <u>Liabilities directly associated with assets held for sale</u> |  |  |  |  |  |  |
|  U.S. dollar | 1056 | 1382.00 | 1459695 | 1178 | 1455.00 | 1713545 |
|  <u>Provisions</u> |  |  |  |  |  |  |
|  U.S. dollar | 247 | 1382.00 | 342003 | 229 | 1455.00 | 332986 |
|  <u>Contract liabilities</u> |  |  |  |  |  |  |
|  U.S. dollar | 43 | 1382.00 | 59426 | 19 | 1455.00 | 27645 |
|  <u>Salaries and social security</u> |  |  |  |  |  |  |
|  U.S. dollar | 108 | 1382.00 | 149256 | 89 | 1455.00 | 129495 |
|  <u>Lease liabilities</u> |  |  |  |  |  |  |
|  U.S. dollar | 307 | 1382.00 | 424007 | 297 | 1455.00 | 432423 |
|  <u>Loans</u> |  |  |  |  |  |  |
|  U.S. dollar | 1529 | 1382.00 | 2113509 | 2320 | 1455.00 | 3375674 |
|  <u>Other liabilities</u> |  |  |  |  |  |  |
|  U.S. dollar | 460 | 1382.00 | 636333 | 381 | 1455.00 | 554118 |
|  <u>Accounts payable</u> |  |  |  |  |  |  |
|  U.S. dollar | 1039 | 1382.00 | 1436532 | 1053 | 1455.00 | 1532201 |
|  Euro | 10 | 1598.28 | 16261 | 19 | 1713.12 | 32675 |
|  **Total current liabilities** |  |  | 6637022 |  |  | 8130762 |
|  **Total liabilities** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20421048 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21993404 |

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(1) Exchange rate as of March 31, 2026 and December 31, 2025 according to the BNA.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

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##### [**Table of Contents**](#toc)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

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| | |
|:---|:---|
| **YPF SOCIEDAD ANONIMA**<br> **NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS**<br> **AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)**<br> (Amounts expressed in millions of Argentine pesos, or as otherwise indicated) | ![LOGO](g279826g0512075808840.jpg) |

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**40. SUBSEQUENT EVENTS** 

<u>Issuance of ON</u>

On April 14, 2026, the Company issued in the local market Class XLIII NO denominated and payable in U.S. dollars for a nominal amount of 120, maturing in April 2030 and semi-annual interest payments at a fixed nominal annual rate of 5.5% from the ninth month.

<u>Stock split on YPF's ordinary shares</u>

On April 30, 2026, the General Shareholders' Meeting approved the modification of the nominal value of the Company's shares from $10 (ten pesos) to $1 (one peso) per share, which means that for every share with a nominal value of $10 currently outstanding, 10 shares with a nominal value of $1 each will be issued, while the Company's capital stock remains unchanged ("Split"). Likewise, the Split does not imply a change in the proportion of each shareholder's equity interest, but only in the number of shares outstanding and their nominal value per share. The Split will also not alter the economic or voting rights of the shareholders.

As of the date of issuance of these condensed interim consolidated financial statements, there have been no other material subsequent events additional to those mentioned in notes whose effect on Group's financial position, results of operations or their disclosure in notes to the financial statements for the period ended as of March 31, 2026, should have been considered in said financial statements under IFRS.

These condensed interim consolidated financial statements were approved by the Board of Directors' meeting and authorized to be issued on May 7, 2026.

HORACIO DANIEL MARÍN &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President

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##### [**Table of Contents**](#toc)
**SIGNATURE** 

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.

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| | | |
|:---|:---|:---|
|  | **YPF Sociedad Anónima** | **YPF Sociedad Anónima** |
|  Date: May 14, 2026 | By: | /s/ Margarita Chun |
|  | Name: | Margarita Chun |
|  | Title: | Market Relations Officer |

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