Clasificación YPF: No Confidencial Clasificación YPF: No Confidencial YPF 3 rd QUARTER 2021 EARNINGS WEBCAST NOVEMBER 10TH, 2021 IMPORTANT NOTICE Clasificación YPF: No Confidencial Safe harbor statement under the U.S. Private Securities Litigation Reform Act of 1995 (the "Private Securities Litigation Reform Act"). This document contains statements that YPF believes constitute forward-looking statements under within the meaning of the Private Securities Litigation Reform Act. These forward-looking statement ...

YPF Sociedad Anonima (NYSE:YPF) Q3 Earnings Conference Call November 10, 2021 8:30 AM ET Company Participants Santiago Wesenack – IR Manager Sergio Affronti – CEO Alejandro Lew – CFO Conference Call Participants Frank Mcgann – Bank of America Guilherme Levy – Morgan Stanley Regis Cardoso – Credit Suisse Bruno Amorim – Goldman Sachs Konstantinos Papalios – Plenti Argentina Ezequiel Fernandez – Balanz Luiz Carvalho – UBS Walter Chiarvesio – Santander Operator Good morning. My name is Chris and I'll be your co ...

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q2 reached $1.1 billion, a 41% increase compared to the previous quarter and 14% higher than Q2 2019 [5][19] - Revenues increased by 26% sequentially to over $3.3 billion, although still 9% below Q2 2019 levels [15][19] - Free cash flow before debt financing totaled $311 million, allowing for a reduction in net debt to $6.5 billion by June 30 [11][22] Business Line Data and Key Metrics Changes - Total hydrocarbon production grew by 6% sequentially, with shale gas production increasing by 35% [23][24] - Shale oil production rose by 7%, while conventional production remained almost flat [8][24] - Overall lifting costs per barrel of oil equivalent were around 10% below pre-pandemic levels, but increased by 5% sequentially [17][19] Market Data and Key Metrics Changes - Domestic demand for gasoline and diesel showed recovery, with diesel demand almost back to pre-COVID levels, while gasoline demand was still 18% below pre-pandemic levels [6][29] - Average realization price for natural gas was $3.80 per MMBTU, aligning with 2019 levels, while crude oil prices increased to $51.60 per barrel [25][31] Company Strategy and Development Direction - The company is focused on executing a $2.7 billion CapEx plan, with production targets for the year potentially biased to the upside [12][13] - The management is optimistic about the new hydrocarbon law that aims to incentivize investment and accelerate development in the sector [78][80] - Continuous efforts are being made to reduce costs and improve operational efficiencies, with a focus on maintaining structural cost reductions [16][64] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving production targets and executing the CapEx plan despite challenges faced in the first half of the year [12][46] - Inflation is creating cost pressures, but the company aims to maintain cost efficiencies [63][64] - The company anticipates becoming a net exporter of crude oil in a few years as production in Vaca Muerta expands [91] Other Important Information - The company has successfully reduced its net leverage ratio to 2.7 times by the end of Q2, allowing for greater financial flexibility [38] - The company is actively managing its liquidity and FX exposure, maintaining a low net FX exposure of 6% [35][36] - Recent rating upgrades from credit agencies reflect improvements in the company's financial condition [40] Q&A Session Summary Question: CapEx deployment in the second half of the year - Management acknowledged the need to ramp up CapEx and expressed confidence in achieving the $2.7 billion target despite challenges faced in the first half [45][46] Question: Timeline for liability management for 2022 maturities - Management indicated comfort with upcoming maturities and plans to refinance through local bonds and bank facilities [50][52] Question: Expectations for production increase next year - Management expects significant growth in oil production, particularly in Vaca Muerta, while gas production growth may be limited [58][60] Question: Future pricing strategies and lifting costs - Management anticipates stable lifting costs around $11 per barrel of oil equivalent for the remainder of the year [71] Question: ESG investment plans - The company is focused on reducing CO2 emissions and investing in renewable energy projects through its subsidiary YPF Luz [73][74]

了三人丁 YPF 2 nd QUARTER 2021 EARNINGS WEBCAST AUGUST 11TH, 2021 IMPORTANT NOTICE Safe harbor statement under the U.S. Private Securities Litigation Reform Act of 1995 (the "Private Securities Litigation Reform Act"). This document contains statements that YPF believes constitute forward-looking statements under within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements may include statements regarding the intent, belief, plans, current expectations or objectives of YP ...

YPF SA (NYSE:YPF) Q1 2021 Earnings Conference Call May 12, 2021 9:00 AM ET Company Participants Santiago Wesenack - IR Manager Sergio Affronti - CEO Alejandro Lew - CFO Conference Call Participants Guilherme Levy - Morgan Stanley Barbara Halberstadt - JPMorgan Chase & Co. Frank McGann - Bank of America Merrill Lynch Marcelo Gumiero - Crédit Suisse Ezequiel Fernandez - Balanz Luiz Carvalho - UBS Operator Good day, and thank you for standing by. Welcome to the YPF First Quarter 2021 Earnings Call. [Operator I ...

Clasificación YPF: No Confidencial YPF Clasificación YPF: No Confidencial 1 st QUARTER 2021 EARNINGS WEBCAST MAY 11TH, 2021 Clasificación YPF: No Confidencial IMPORTANT NOTICE Safe harbor statement under the U.S. Private Securities Litigation Reform Act of 1995 (the "Private Securities Litigation Reform Act"). This document contains statements that YPF believes constitute forward-looking statements under within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements may ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 Commission file number: 1-12102 YPF Sociedad Anónima (Exact name of registrant as specified in its charter) Republic of Argentina (Jurisdiction of incorporation or organization) Macacha Güemes 515 C1106BKK Ciudad Autónoma de Buenos Aires, Argentina (Address of principal executive of ...

YPF Sociedad Anónima (NYSE:YPF) Q4 2020 Earnings Conference Call March 5, 2021 8:30 AM ET Company Participants Sergio Affronti - CEO Alejandro Lew - CFO Santiago Wesenack - IR Manager Conference Call Participants Bruno Montanari - Morgan Stanley Marcelo Gumiero - Credit Suisse Frank McGann - Bank of America Merrill Lynch Barbara Halberstadt - JPMorgan Andres Cardona - Citigroup Ezequiel Fernández López - Balance Luiz Carvalho - UBS Operator Thank you for standing by, and welcome to the YPF Full Year and Fou ...

YPF FULL YEAR & 4th QUARTER 2020 EARNINGS WEBCAST MARCH 5TH, 2021 IMPORTANT NOTICE Safe harbor statement under the US Private Securities Litigation Reform Act of 1995. This document contains statements that YPF believes constitute forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements may include statements regarding the intent, belief, plans, current expectations or objectives of YPF and its management, including statements ...

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $392 million for Q3 2020, a significant recovery from $28 million in the previous quarter, although still down 44% year-over-year [17][30]. - Revenues increased by 20% from the previous quarter, primarily due to a 27% increase in diesel and gasoline volumes dispatched [24]. - Net debt decreased to $7.2 billion, down over $500 million compared to September of the previous year [28]. Business Line Data and Key Metrics Changes - Upstream adjusted EBITDA increased by 130% quarter-over-quarter to $358 million, benefiting from higher crude oil and natural gas prices, stable production, and lower lifting costs [30]. - Downstream adjusted EBITDA declined by 68% sequentially to $40 million, as demand recovery was insufficient to offset lower margins from higher crude transfer prices [31]. - Gas & Power segment adjusted EBITDA reached $20 million, a recovery from a $128 million loss in the previous quarter, driven by higher natural gas prices [32]. Market Data and Key Metrics Changes - Fuel sales showed a positive sequential evolution, with gasoline contraction close to 30% and diesel around 18% compared to the previous year [13]. - Crude oil production averaged 202,000 barrels per day, with shale production increasing 14% compared to the previous quarter [34]. - Average crude oil realization price was $40 per barrel, up 39% sequentially, while natural gas selling price averaged $2.7 per million BTU [36]. Company Strategy and Development Direction - The company plans a more ambitious CapEx program for 2021 to reverse the production decline trend seen over the last five years, which may require net new funding [20][64]. - Active discussions with strategic partners regarding potential formations in Vaca Muerta and analyzing divestment opportunities in mature conventional blocks [19]. - The new gas plan announced by President Fernandez is expected to provide stability and incentives for developing natural gas reserves [21]. Management's Comments on Operating Environment and Future Outlook - Management indicated that the worst effects of the COVID-19 pandemic are behind, with signs of recovery in performance [7]. - The company anticipates a sequential contraction in EBITDA for Q4 due to lower production and higher operating expenses, but expects profitability to improve in 2021 as production ramps up [62][64]. - Management emphasized the importance of cost reduction and efficiency improvements to manage high leverage while pursuing aggressive CapEx [119]. Other Important Information - The company achieved a 12% cumulative price increase at the pump in Argentine pesos, stabilizing net prices in dollars [17][44]. - Cash generation from operations reached $666 million, with cash used for investment activities contracting by 33% sequentially [50][51]. - The company’s consolidated cash position stood at $1 billion, with gross debt shrinking further [54]. Q&A Session Summary Question: What is the expected EBITDA for Q4 excluding the FLNG contract payments? - Management expects a contraction in EBITDA due to lower production and higher operating expenses, despite the non-recurrent expense reduction from the FLNG contract [70][72]. Question: What growth can be expected in non-conventional production in 2021 and 2022? - Management anticipates an increase in non-conventional production, particularly in Vaca Muerta, with expectations of shale oil production rising from 20% to closer to 25% in 2021 [74]. Question: What is the outlook for CapEx in 2021? - Management indicated that CapEx levels are expected to increase in 2021, with a more aggressive plan needed to reverse production declines [84]. Question: How is the company addressing potential liquidity issues? - Management acknowledged the delicate balance of high leverage and aggressive CapEx, emphasizing cost reduction and efficiency as key strategies [119]. Question: What is the expected sustainability of Gas & Power segment results? - Management expects the Gas & Power segment's adjusted EBITDA to remain stable, influenced by seasonal prices and the new gas plan [112].