Pampa Energía S.A. announces results for the nine-month period and quarter ended on September 30, 2017

BUENOS AIRES, Argentina, Nov. 10, 2017

Main Results for the Nine-Month Period ended on September 30, 2017 ('9M17')

Consolidated net revenues of AR$48,158 million^[1], 163.4% higher than the AR$18,280 million for the same period of 2016 ('9M16'), explained by increases of AR$3,813 million in power generation, AR$8,459 million in electricity distribution, AR$7,811 million in oil and gas, AR$9,529 million in refining and distribution, AR$4,459 million in petrochemicals and AR$254 million in holding and others segment, partially offset by higher eliminations as a result of intersegment sales for AR$4,447 million.

• Power Generation of 11,494 GWh from 10 power plants
• Electricity sales of 16,440 GWh to 2.9 million end-users
• Production of 70.4 thousand barrels per day of hydrocarbons: 285 million cf/d of gas and 23 kboe/d of oil and NGL
• Sales of 1.4 million m³ of refined products and 354 thousand tons of petrochemical products

Adjusted consolidated EBITDA^[2] of AR$12,811 million, compared to AR$3,252 million for 9M16, mainly due to increases of AR$2,145 million in power generation, AR$2,594 million in electricity distribution, AR$3,708 million in oil and gas, AR$556 million in refining and distribution, AR$198 million in petrochemicals, AR$343 million in holding and others segment, and AR$15 million in intersegment eliminations.

Consolidated gain of AR$3,970 million, of which AR$3,094 million is attributable to the owners of the Company, higher than the AR$993 million of loss attributable to the owners in 9M16, explained by higher reported gains in power generation (AR$2,199 million), electricity distribution (AR$1,733 million), oil and gas (AR$1,629 million), refining and distribution (AR$408 million) and intersegment eliminations (AR$16 million), partially offset by losses in petrochemicals (AR$146 million) and higher losses in holding and others segment (AR$1,752 million).

Main Results for the Third Quarter of 2017 ('Q3 17')^[3]

Consolidated net revenues of AR$17,357 million, compared to AR$9,897 million recorded in the third quarter 2016 ('Q3 16'), mainly explained by increases of AR$1,339 million in power generation, AR$3,047 million in electricity distribution, AR$1,157 million in oil and gas, AR$1,379 million in refining and distribution, AR$998 million in petrochemicals and AR$88 million in holding and others segment, partially offset by higher eliminations from intersegment sales of AR$548 million.