Buenos Aires, February 18, 2026
COMISIÓN NACIONAL DE VALORES (“CNV”)
25 de Mayo 175
Buenos Aires
BOLSAS Y MERCADOS ARGENTINOS S.A. (“ByMA”)
Sarmiento 299
Buenos Aires
A3 MERCADOS S.A. (“A3 Mercados”)
Maipú 1210
Buenos Aires
Ref.: Material Event – Portfolio Optimization Strategy: Assignment of Manantiales Behr Conventional Area – Province of Chubut. Update
Ladies and Gentlemen,
We are writing to you in order to comply with the CNV Rules and the corresponding regulations of ByMA and A3 Mercados.
Following up on our material event dated January 16, 2026, the Company reports that the agreements entered into between YPF S.A. (“YPF” or the “Company”) and Limay Energía S.A. (a company of the Rovella Capital group) for the assignment of 100% of the conventional exploitation concession over the Manantiales Behr area have become null and void on February 13, 2026, as the initial contribution of funds by Limay Energía S.A., an essential condition for the Agreement to enter into force, has not been verified. No outstanding obligations remain between the parties.
It is also reported that today, the Board of Directors of the Company approved entering into the following agreements with Pecom Servicios Energía S.A.U. (51%) and its affiliate San Benito Upstream S.A.U. (49%): (i) the assignment of 100% of the conventional exploitation concession over the Manantiales Behr area and the hydrocarbon transportation concession over the “El Trébol – Caleta Córdova,” “Km. 9 – Caleta Córdova,” and “Manantiales Behr – Cañadón Perdido” pipelines in the Province of Chubut; and (ii) the partial sale of the stock of materials in the Manantiales Behr and Km 20 warehouses.
These companies jointly submitted the second-best economic offer after the offer by Limay Energía S.A. (Rovella Group) in the competitive process carried out in a timely manner.
At the end of 2025, the area had an approximate daily production of 25 kbbl/d and 0.4 million m3/d of natural gas.
The total price agreed for both agreements amounts to US$410 million, plus applicable VAT, and a contingent price of up to US$40 million, plus or minus a closing price adjustment. The agreed price will be paid as follows: US$150 million between the signing date and the closing date of the transaction, and the remaining balance within a period between12 and 24 months after closing.
The assignment is subject to the fulfillment of certain conditions precedent and suspensive, including authorization by the Executive Branch of the Province of Chubut.
Sincerely,
Margarita Chun
Market Relations Officer
YPF S.A.