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].

3 rd QUARTER 2020 EARNINGS WEBCAST NOVEMBER 11TH, 2020 IMPORTANT NOTICE Saf e harbor statement under the US Priv ate Securities Litigation Ref orm Act of 1995. This document contains statements that YPF believ es constitute f orward-looking statements within the meaning of the US Priv ate Securities Litigation Ref orm Act of 1995. These f orward-looking statements may include statements regarding the intent, belief , plans, current expectations or objectiv es of YPF and its management, including statements ...

Financial Data and Key Metrics Changes - Revenues contracted by 47% year-over-year and 31% quarter-over-quarter to $1.9 billion, with fuel sales declining by about 50% compared to the same quarter last year [33][34] - Adjusted EBITDA reached $28 million for the second quarter, significantly impacted by the pandemic, while reported EBITDA stood at $171 million [38][39] - Net debt at the end of June was $7.4 billion, approximately $250 million lower than at the end of March, primarily due to an increase in cash position [38] Business Line Data and Key Metrics Changes - Upstream segment's adjusted EBITDA contracted by 79% year-over-year to $156 million, with a margin decline from 44% to 19% [40] - Downstream adjusted EBITDA contributed $123 million, down 16% year-over-year, affected by steep declines in demand for gasoline, diesel, and jet fuel [41] - Gas and energy segment reported a loss of $128 million, primarily due to deteriorating results from Metrogas and a non-cash accounting provision [42] Market Data and Key Metrics Changes - Crude oil production decreased by 10% year-over-year to 201,000 barrels per day, while natural gas production fell by 13% to 35 million cubic meters per day [45] - Average crude oil realization price was $28.9 per barrel, down 51% from the previous year, with prices fluctuating due to local and international market conditions [46] - Natural gas selling price averaged $2.5 per million BTU, down from $3.9 per million BTU a year ago, with expectations for higher prices due to the new Plan Gas 4 [47] Company Strategy and Development Direction - The company aims to become a net oil and gas exporter by fully developing the Vaca Muerta shale play, focusing on both domestic and international markets [14][27] - A company-wide cost reduction program has been initiated, targeting a structural reduction of 30% across operations [55] - The upstream business has been decentralized into two vice presidencies to enhance efficiency and decision-making [24][56] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about recovering demand for products as COVID-19 restrictions ease, although the timing remains uncertain [13] - The company is focused on maintaining financial stability and managing net financial debt within sustainable levels [28] - Future production is expected to remain below 2019 levels, with a cautious approach to capital deployment until market conditions improve [96] Other Important Information - The company successfully executed a liability management exercise, achieving a 58.7% acceptance level for a bond exchange, significantly alleviating short-term refinancing needs [71] - A temporary reduction in salaries for non-unionized personnel was implemented, ranging from 10% to 25% [58] - The company has set up special sales to review and renegotiate contracts with over 10,000 vendors to achieve cost efficiencies [61] Q&A Session Summary Question: Details on the new gas plan and its impact - Management sees the new gas plan as a positive signal for price stability and expects it to mitigate production decline and reduce the need for gas imports [75][76] Question: Free cash flow generation and breakeven analysis - Free cash flow generation was primarily driven by non-cash items and collections from legacy gas programs, with approximately $500 million generated despite a challenging quarter [82] Question: Update on divestments - The company is evaluating potential divestments of non-core assets to strengthen core activities and improve cash generation [86][87] Question: Sustainability of working capital benefits - Working capital benefits were mainly from legacy gas program collections, with expectations for continued cash generation from these sources [90][91] Question: Future strategic plan and CapEx evolution - The company plans to maintain net indebtedness at sustainable levels and will limit capital deployment to core oil and gas activities, with a new strategic plan expected as market conditions clarify [96][97] Question: Operational concerns regarding conventional production decline - Conventional production is currently about 20,000 barrels per day below pre-COVID levels, but management is targeting a resumption of activity to restore production levels [99]

Clasificación YPF: No Confidencial 2 nd QUARTER 2020 EARNINGS WEBCAST AUGUST 11TH, 2020 IMPORTANT NOTICE Saf e harbor statement under the US Priv ate Securities Litigation Ref orm Act of 1995. This document contains statements that YPF believ es constitute f orward-looking statements within the meaning of the US Priv ate Securities Litigation Ref orm Act of 1995. These f orward-looking statements may include statements regarding the intent, belief , plans, current expectations or objectiv es of YPF and its ...

YPF Sociedad Anónima (NYSE:YPF) Q1 2020 Results Earnings Conference Call May 12, 2020 9:30 AM ET Company Participants Sergio Giorgi - Vice President of Strategy, Business Development and Investor Relations Guillermo Nielsen - Chairman of the Board Sergio Affronti - Chief Executive Officer Ignacio Rostagno - Head of Investor Relations, Market Relations Officer Conference Call Participants Luiz Carvalho - UBS Vicente Falanga - Bradesco Regis Cardoso - Credit Suisse Pavel Molchanov - Raymond James Bruno Montan ...

1 st QUARTER 2020 EARNINGS WEBCAST YPF MAY 12TH, 2020 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 with respec ...

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, 2019 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 ...