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

BUENOS AIRES, Argentina, Aug. 11, 2017

Main Results for the First Semester of 2017 ('1H17')

Consolidated sales revenues of AR$30,801 million[1], 267.4% higher than the AR$8,383 million for the first half of 2016 ('1H16'), explained by increases of AR$2,474 million in power generation, AR$5,412 million in electricity distribution, AR$6,654 million in oil and gas, AR$8,150 million in refining and distribution, AR$3,461 million in petrochemicals and AR$166 million in holding and others segment, partially offset by higher eliminations as a result of intersegment sales for AR$3,899 million.

• Power Generation of 7,768 GWh from 9 power plants
• Electricity sales of 10,857 GWh to 2.9 million end-users
• Production of 70.3 thousand barrels per day of hydrocarbons: 283 million cf/d of gas and 22.4 kb/d of oil
• Sales of 953 thousand m³ of refined products and 230 thousand tons of petrochemical products

Adjusted consolidated EBITDA[2] of AR$7,699 million, compared to AR$1,775 million for 1H16, mainly due to increases of AR$1,135 million in power generation, AR$1,188 million in electricity distribution, AR$3,061 million in oil and gas, AR$311 million in refining and distribution, AR$190 million in petrochemicals and AR$61 million in intersegment eliminations, partially offset by decreases of AR$21 million in holding and others segment.

Consolidated gain of AR$2,346 million, of which AR$1,810 million is attributable to the owners of the Company, higher than the AR$61 million loss attributable to the owners in 1H16, explained by higher reported gains in power generation (AR$ 1,420 million), electricity distribution (AR$1,155 million), oil and gas (AR$1,450 million), refining and distribution (AR$183 million) and intersegment eliminations (AR$61 million), partially offset by losses in petrochemicals (AR$13 million) and higher losses in holding and others segment (AR$2,385 million).

Main Results for the Second Quarter of 2017 ('Q2 17')[3]

Consolidated sales revenues of AR$15,635 million, compared to AR$4,156 million recorded in the second quarter 2016 ('Q2 16'), mainly explained by increases of AR$1,396 million in power generation, AR$3,035 million in electricity distribution, AR$3,234 million in oil and gas, AR$4,159 million in refining and distribution, AR$1,654 million in petrochemicals and AR$79 million in holding and others segment, partially offset by higher eliminations from intersegment sales of AR$2,078 million.