Marval O'Farrell Mairal and Salaverri, Burgio & Wetzler Malbrán and Advised on Pampa Energia’s Bond Issuance

Pampa Energía S.A. ("Pampa Energía"), a leading Argentine company in the oil, gas and electric power industry, successfully completed the placement and issuance in the local market of (i) class 4 corporate bonds with a nominal value in pesos of ARS1.238.337.777 (the "Notes Series 4"); and (ii) class 5 corporate bonds with a nominal value in pesos of ARS565.004.705 (the "Notes Series 5", and together with the Notes Series 4, the "Notes").

Pampa Energía was advised by Salaverri, Burgio & Wetzler Malbrán; while Banco de Galicia y Buenos Aires S.A.U., HSBC Bank Argentina S.A. and Banco Santander Río S.A., which acted as arrangers and placement agents (together, the "Arrangers"); and Banco Mariva S.A., BACS, Banco de Crédito y Securitización S.A., Industrial and Commercial Bank of China (Argentina) S.A., Banco de Servicios y Transacciones S.A., Banco BBVA Argentina S.A. and Banco Hipotecario S.A., which acted as placement agents (together with the Arrangers, the "Placement Agents"), were advised by Marval O'Farrell Mairal.

The Notes were issued on April 30, 2020, under the Non-Convertible Simple Notes and/or Negotiable Obligations Convertible into Shares Program for up to USD 2,000,000,000 (or its equivalent in other currencies) (the "Program"). Notes Series 4 and Series 5 are denominated and payable in Pesos and bear a variable interest rate resulting from the addition of the Applicable Margin to the Reference Rate. The Notes will mature on July 29 and October 27, 2020, respectively.

Pampa Energía is currently the largest independent energy integrated company in Argentina, with active participation in the country’s electricity and gas value chain.

Legal advisors to Pampa Energía S.A.:

Salaverri, Burgio & Wetzler Malbrán: Partner Roberto Lizondo. Associates Natalia Ostropolsky, Fiamma Toto Ruá and Ramón Augusto Poliche.

In-house counsel: Victoria Hitce and Débora Tortosa Chavez.

Legal advisors to the Arrangers and Placement Agents:

Marval O’Farrell Mairal: Partner Hernan Slemenson, with associates María Manuela Lava and Jacqueline Berkenstadt.