6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13A-16 OR 15D-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2026

Commission File Number: 001-12102

YPF Sociedad Anónima

(Exact name of registrant as specified in its charter)

Macacha Güemes 515

C1106BKK Buenos Aires, Argentina

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒ Form 40-F ☐

YPF Sociedad Anónima

TABLE OF CONTENT

ITEM 1****YPF S.A.’s Condensed Interim Consolidated Financial Statements as of March 31, 2026 and Comparative Information (US$).

ITEM 2****YPF S.A.’s Condensed Interim Consolidated Financial Statements as of March 31, 2026 and Comparative Information (Unaudited) (AR$).

LOGO

YPF SOCIEDAD ANONIMA

CONDENSED INTERIM CONSOLIDATED

FINANCIALSTATEMENTS AS OF MARCH 31, 2026

AND COMPARATIVE INFORMATION

YPF SOCIEDAD ANONIMA<br> <br>CONDENSED INTERIM CONSOLIDATEDFINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION

CONTENT

Note	Description	Page
	Glossary of terms	1
	Legal information	2
	Condensed interim consolidated statements of financial position	3
	Condensed interim consolidated statements of comprehensive income	4
	Condensed interim consolidated statements of changes in shareholders’<br>equity	5
	Condensed interim consolidated statements of cash flows	7
	Notes to the condensed interim consolidated financial statements:
1	General information, structure and organization of the Group’s business	8
2	Basis of preparation of the condensed interim consolidated financial statements	9
3	Seasonality of operations	10
4	Acquisitions and disposals	10
5	Financial risk management	10
6	Business segment information	11
7	Financial instruments by category	15
8	Intangible assets	15
9	Property, plant and equipment	16
10	Right-of-use assets	19
11	Investments in associates and joint ventures	19
12	Assets held for sale and associated liabilities	20
13	Inventories	21
14	Other receivables	22
15	Trade receivables	22
16	Investments in financial assets	22
17	Cash and cash equivalents	23
18	Provisions	23
19	Income tax	23
20	Taxes payable	24
21	Salaries and social security	24
22	Lease liabilities	24
23	Loans	25
24	Other liabilities	27
25	Accounts payable	27
26	Revenues	27
27	Costs	29
28	Expenses by nature	30
29	Other net operating results	31
30	Net financial results	31
31	Investments in joint operations and consortiums	31
32	Shareholders’ equity	32
33	Earnings per share	32
34	Contingent assets and liabilities	32
35	Contractual commitments	33
36	Main regulations	33
37	Balances and transactions with related parties	34
38	Employee benefit plans and similar obligations	36
39	Subsequent events	37

<br> 1<br>
YPF SOCIEDAD ANONIMA<br> <br>CONDENSED INTERIMCONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION

GLOSSARY OF TERMS

Term	Definition
ADR	American Depositary Receipt
ADS	American Depositary Share
AESA	A-Evangelista S.A.
AFIP	Argentine Tax Authority (Administración Federal de Ingresos Públicos)
ANSES	National Administration of Social Security (Administración Nacional de la Seguridad Social)
ARCA	Collection Customs and Control Agency (Agencia de Recaudación y Control Aduanero) (formerly “AFIP”)
Argentina LNG	Argentina LNG S.A.U.
Associate	Company over which YPF has significant influence as provided for in IAS 28 “Investments in associates and joint ventures”
BCRA	Central Bank of the Argentine Republic (Banco Central de la República Argentina)
BNA	Bank of the Argentine Nation (Banco de la Nación Argentina)
BO	Official Gazette of the Argentine Republic (Boletín Oficial de la República Argentina)
CAMMESA	Compañía Administradora del Mercado Mayorista Eléctrico S.A.
CAN	Northern Argentine basin (cuenca Argentina Norte)
CDS	Central Dock Sud S.A.
CENCH	Hydrocarbon Unconventional Exploitation Concessions
CGU	Cash-generating unit
CNDC	Argentine Antitrust Authority (Comisión Nacional de Defensa de la Competencia)
CNV	Argentine Securities Commission (Comisión Nacional de Valores)
CSJN	Argentine Supreme Court of Justice (Corte Suprema de Justicia de la Nación Argentina)
CT Barragán	CT Barragán S.A.
Eleran	Eleran Inversiones 2011 S.A.U.
ENARGAS	Argentine Gas Regulator (Ente Nacional Regulador del Gas)
ENARSA	Energía Argentina S.A. (formerly Integración Energética Argentina S.A., “IEASA”)
ENRE	National Electricity Regulatory Agency
FOB	Free on board
Gas Austral	Gas Austral S.A.
GPA	Gasoducto del Pacífico (Argentina) S.A.
Group	YPF and its subsidiaries
IAS	International Accounting Standard
IASB	International Accounting Standards Board
IFRIC	IFRS Interpretations Committe
IFRS	IFRS Accounting Standards
INDEC	National Institute of Statistics and Census (Instituto Nacional de Estadística y Censos)
IPC	Consumer Price Index (Índice de Precios al Consumidor) published by INDEC
JO	Joint operation (Unión Transitoria)
Joint venture	Company jointly owned by YPF as provided for in IFRS 11 “Joint arrangements”
LGS	General Corporations Law (Ley General de Sociedades) No. 19,550
LNG	Liquefied natural gas
LPG	Liquefied petroleum gas
MEGA	Compañía Mega S.A.
Metroenergía	Metroenergía S.A.
Metrogas	Metrogas S.A.
MINEM	Ministry of Energy and Mining (Ministerio de Energía y Minería)
MLO	West Malvinas basin (cuenca Malvinas Oeste)
MTN	Medium-term note
NO	Negotiable obligations
OLCLP	Oleoducto Loma Campana - Lago Pellegrini S.A.U.
Oldelval	Oleoductos del Valle S.A.
OPESSA	Operadora de Estaciones de Servicios S.A.
OTA	OleoductoTrasandino (Argentina) S.A.
OTAMERICA	OTAMERICA Ebytem S.A.
OTC	OleoductoTrasandino (Chile) S.A.
PEN	National Executive Branch (Poder Ejecutivo Nacional)
Peso	Argentine peso
PIST	Transportation system entry point (Punto de ingreso al sistema de transporte)
Profertil	Profertil S.A.
PSAR	Performance stock appreciation rights
Refinor	Refinería del Norte S.A.
RQT	Quinquennial Tariff Review (Revisión Quinquenal Tarifaria)
RTI	Integral Tariff Review (Revisión Tarifaria Integral)
RTT	Transitional Tariff Regime (Régimen Tarifario de Transición)
SC Gas	SC Gas S.A.U.
SE	Secretariat of Energy (Secretaría de Energía) (formerly “MINEM” and “SGE”)
SEC	U.S. Securities and Exchange Commission
SEE	Secretariat of Electric Energy (Secretaría de Energía Eléctrica)
SGE	Government Secretariat of Energy (Secretaría de Gobierno de Energía)
SRH	Hydrocarbon Resources Secretariat (Secretaría de Recursos Hidrocarburíferos)
SSHyC	Under-Secretariat of Hydrocarbons and Fuels (Subsecretaría de Hidrocarburos y Combustibles)
Subsidiary	Company controlled by YPF as provided for in IFRS 10 “Consolidated financial statements”
Sur Inversiones Energéticas	Sur Inversiones Energéticas S.A.U.
Sustentator	Sustentator S.A.
Termap	Terminales Marítimas Patagónicas S.A.
Turnover tax	Impuesto a los ingresos brutos
U.S. dollar	United States dollar
UNG	Unaccounted natural gas
US$	United States dollar
US$/bbl	U.S. dollar per barrel
UVA	Unit of Purchasing Power
VAT	Value added tax
VMI	Vaca Muerta Inversiones S.A.U.
VMOS	VMOS S.A.
WEM	Wholesale Electricity Market
YPF Chile	YPF Chile S.A.
YPF EE	YPF Energía Eléctrica S.A.
YPF Gas	YPF Gas S.A.
YPF or the Company	YPF S.A.
YPF Ventures	YPF Ventures S.A.U.
Y-TEC	YPF Tecnología S.A.
Y-LUZ	Y-LUZ Inversora S.A.U. controlled by YPF EE

<br> 2<br>
YPF SOCIEDAD ANONIMA<br> <br>CONDENSED INTERIMCONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION

LEGAL INFORMATION

Legal address

Macacha Güemes 515 - Ciudad Autónoma de Buenos Aires, Argentina.

Fiscal year

No. 50 beginning on January 1, 2026.

Main business of the Company

The Company’s purpose shall be to perform, on its own, through third parties or in association with third parties, the survey, exploration and exploitation of liquid and/or gaseous hydrocarbon fields and other minerals, as well as the industrialization, transportation and commercialization of these products and their direct and indirect by-products, including petrochemical products, chemical products, whether derived from hydrocarbons or not, and non-fossil fuels, biofuels and their components, as well as the generation of electrical energy through the use of hydrocarbons, to which effect it may manufacture, use, purchase, sell, exchange, import or export them. It shall also be the Company’s purpose the rendering, on its own, through a controlled company or in association with third parties, of telecommunications services in all forms and modalities authorized by the legislation in force after applying for the relevant licenses as required by the regulatory framework, as well as the production, industrialization, processing, commercialization, conditioning, transportation and stockpiling of grains and products derived from grains, as well as any other activity complementary to its industrial and commercial business or any activity which may be necessary to attain its object. To better achieve these purposes, it may set up, become associated with or have an interest in any public or private entity domiciled in Argentina or abroad, within the limits set forth in the Bylaws.

Filing with the Public Registry of Commerce

Bylaws filed on February 5, 1991, under No. 404 of the Book 108 of Corporations, Volume A, with the Public Registry of Commerce of the Autonomous City of Buenos Aires, in charge of the Argentine Registry of Companies (Inspección General de Justicia); and Bylaws in substitution of previous Bylaws, filed on June 15, 1993, under No. 5,109 of the Book 113 of Corporations, Volume A, with the above mentioned Public Registry.

Duration of the Company

Through June 15, 2093.

Last amendment to the Bylaws

January 26, 2024, registered with the Public Registry of Commerce of the Autonomous City of Buenos Aires in charge of the Argentine Registry of Companies (Inspección General de Justicia) on March 15, 2024, under No. 4,735, Book 116 of Corporations. In addition, an amendment approved by the General Shareholders’ Meeting on April 30, 2026, is currently in the process of being registered in the aforementioned Public Registry.

Capital structure

393,312,793 shares of common stock, $10 par value and 1 vote per share.

Subscribed, paid-in and authorized for stock exchange listing (in pesos)

3,933,127,930.

HORACIO DANIEL MARÍN<br><br><br>President

<br> 3<br>
YPF SOCIEDAD ANONIMA<br><br><br>CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION<br><br><br>AS OF MARCH 31, 2026 AND DECEMBER 31, 2025<br> <br>(Amounts expressed in<br>millions of United States dollars)
	Notes		March 31,2026		December 31,2025
---	---	---	---	---	---	---
ASSETS
Non-current assets
Intangible assets		8		1,073		1,068
Property, plant and equipment		9		19,558		19,085
Right-of-use assets		10		609		537
Investments in associates and joint ventures		11		1,717		1,610
Deferred income tax assets, net		19		41		9
Other receivables		14		636		648
Trade receivables		15		6		5
Total non-current assets			****	23,640	****	22,962
Current assets
Assets held for sale		12		957		1,019
Inventories		13		1,460		1,447
Contract assets		26		5		3
Other receivables		14		820		1,159
Trade receivables		15		1,784		1,654
Investments in financial assets		16		366		262
Cash and cash equivalents		17		1,326		933
Total current assets			****	6,718	****	6,477
TOTAL ASSETS			****	30,358	****	29,439
SHAREHOLDERS’ EQUITY
Capital				3,921		3,921
Treasury shares				12		12
Share-based benefit plans				10		7
Acquisition cost of treasury shares				(35)		(35)
Share trading premiums				(44)		(44)
Issuance premiums				640		640
Legal reserve				787		787
Reserve for investments				6,587		6,587
Reserve for purchase of treasury shares				33		33
Other comprehensive income				(193)		(338)
Unappropriated retained earnings and losses				(352)		(756)
Shareholders’ equity attributable to shareholders of the parent company			****	11,366	****	10,814
Non-controlling interest				269		230
TOTAL SHAREHOLDERS’ EQUITY			****	11,635	****	11,044
LIABILITIES
Non-current liabilities
Provisions		18		639		610
Contract liabilities		26		212		180
Deferred income tax liabilities, net		19		511		373
Income tax liability				865		830
Taxes payable		20		19		18
Salaries and social security		21		98		63
Lease liabilities		22		332		273
Loans		23		8,526		8,226
Other liabilities		24		347		373
Accounts payable		25		6		6
Total non-current liabilities			****	11,555	****	10,952
Current liabilities
Liabilities directly associated with assets held for sale		12		1,060		1,181
Provisions		18		248		229
Contract liabilities		26		145		117
Income tax liability				194		73
Taxes payable		20		350		217
Salaries and social security		21		371		336
Lease liabilities		22		308		298
Loans		23		1,591		2,355
Other liabilities		24		534		399
Accounts payable		25		2,367		2,238
Total current liabilities			****	7,168	****	7,443
TOTAL LIABILITIES			****	18,723	****	18,395
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY			****	30,358	****	29,439

Accompanying notes are an integral part of these condensed interim consolidated financial statements.

HORACIO DANIEL MARÍN<br><br><br>President

<br> 4<br>
YPF SOCIEDAD ANONIMA<br> <br>CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME<br> <br>FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2026 AND 2025<br><br><br>(Amounts expressed in millions of United States dollars, except per share information expressed in United States dollars)
			For the three-month periods ended March 31,
---	---	---	---	---	---	---
	Notes		2026		2025
Net income
Revenues		26		4,946		4,608
Costs		27		(3,188)		(3,308)
Gross profit			****	1,758	****	1,300
Selling expenses		28		(489)		(497)
Administrative expenses		28		(291)		(258)
Exploration expenses		28		(20)		(30)
Other net operating results		29		(80)		(323)
Operating profit			****	878	****	192
Income from equity interests in associates and joint ventures		11		101		81
Financial income		30		32		16
Financial costs		30		(304)		(285)
Other financial results		30		(55)		24
Net financial results		30		(327)		(245)
Net profit before income tax			****	652	****	28
Income tax		19		(243)		(38)
Net profit / (loss) for the period			****	409	****	(10)
Other comprehensive income
Items that may be reclassified subsequently to profit or loss:
Translation effect from subsidiaries, associates and joint ventures				51		(38)
Result from net monetary position in subsidiaries, associates and joint ventures^(1)^				128		84
Other comprehensive income for the period			****	179	****	46
Total comprehensive income for the period			****	588	****	36
Net profit / (loss) for the period attributable to:
Shareholders of the parent company				404		(16)
Non-controlling interest				5		6
Other comprehensive income for the period attributable to:
Shareholders of the parent company				145		37
Non-controlling interest				34		9
Total comprehensive income for the period attributable to:
Shareholders of the parent company				549		21
Non-controlling interest				39		15
Earnings per share attributable to shareholders of the parent company:
Basic and diluted		33		1.03		(0.04)
(1)	Results generated by subsidiaries, associates and joint ventures with the peso as functional currency, see Note 2.b.1) to<br>the annual consolidated financial statements.
---	---

Accompanying notes are an integral part of these condensed interim consolidated financial statements.

HORACIO DANIEL MARÍN<br><br><br>President

<br> 5<br>
YPF SOCIEDAD ANONIMA<br> <br>CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY<br> <br>FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2026AND 2025<br> <br>(Amounts expressed in millions of United States dollars)
	For the three-month period ended March 31, 2026
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Shareholders’ contributions														Retained earnings ^(4)^												Equity attributable to
	Capital		Treasuryshares		Share-basedbenefitplans		Acquisitioncost oftreasuryshares ^(2)^			Sharetradingpremiums			Issuancepremiums		Legalreserve		Reserve forinvestments		Reserveforpurchaseoftreasuryshares		Othercomprehensiveincome			Unappropriatedretainedearnings andlosses			Shareholdersof the parentcompany		Non-controllinginterest		Totalshareholders’equity
Balance at the beginning of the fiscal year		3,921		12		7		(35	)		(44	)		640		787		6,587		33		(338	)		(756	)		10,814		230		11,044
Accrual of share-based benefit plans ^(3)^		-		-		3		-			-			-		-		-		-		-			-			3		-		3
Other comprehensive income		-		-		-		-			-			-		-		-		-		145			-			145		34		179
Net profit for the period		-		-		-		-			-			-		-		-		-		-			404			404		5		409
Balance as of March 31, 2026		3,921		12		10		(35)			(44)			640		787		6,587		33		(193)	^(1)^		(352)			11,366		269		11,635
(1)	Includes (2,300) related to the effect of the translation of the financial statements of investments in subsidiaries,<br>associates and joint ventures with functional currencies other than the U.S. dollar, and 2,107 related to the recognition of the result from net monetary position of subsidiaries, associates and joint ventures with the peso as functional currency.<br>See Note 2.b.1) to the annual consolidated financial statements.
---	---
(2)	Net of employees’ income tax withholding related to the share-based benefit plans.
---	---
(3)	See Note 38.
---	---
(4)	Includes 35 restricted to the distribution of retained earnings as of March 31, 2026 and December 31, 2025,<br>respectively. See Note 31 to the annual consolidated financial statements.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

<br> 6<br>
YPF SOCIEDAD ANONIMA<br><br><br>CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY<br><br><br>FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2026 AND 2025 (cont.)<br><br><br>(Amounts expressed in millions of United States dollars)
	For the three-month period ended March 31, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Shareholders’ contributions														Retained earnings ^(4)^												Equity attributable to
	Capital		Treasuryshares		Share-basedbenefitplans		Acquisitioncost oftreasuryshares ^(2)^			Sharetradingpremiums			Issuancepremiums		Legalreserve		Reserve forinvestments		Reserveforpurchaseoftreasuryshares		Othercomprehensiveincome			Unappropriatedretainedearnings andlosses			Shareholdersof the parentcompany			Non-controllinginterest		Totalshareholders’equity
Balance at the beginning of the fiscal year		3,922		11		3		(28	)		(42	)		640		787		4,236		36		(331	)		2,418			11,652			218		11,870
Accrual of share-based benefit plans ^(3)^		-		-		2		-			-			-		-		-		-		-			-			2			-		2
Other comprehensive income		-		-		-		-			-			-		-		-		-		46			(9	)		37			9		46
Net (loss) / profit for the period		-		-		-		-			-			-		-		-		-		-			(16	)		(16	)		6		(10	)
Balance as of March 31, 2025		3,922		11		5		(28)			(42)			640		787		4,236		36		(285)	^(1)^		2,393			11,675			233		11,908
(1)	Includes (2,005) related to the effect of the translation of the financial statements of investments in subsidiaries,<br>associates and joint ventures with functional currencies other than the U.S. dollar, and 1,720 related to the recognition of the result from net monetary position of subsidiaries, associates and joint ventures with the peso as functional currency.<br>See Note 2.b.1) to the annual consolidated financial statements.
---	---
(2)	Net of employees’ income tax withholding related to the share-based benefit plans.
---	---
(3)	See Note 38.
---	---
(4)	Includes 70 restricted to the distribution of retained earnings as of March 31, 2025 and December 31, 2024,<br>respectively. See Note 31 to the annual consolidated financial statements.
---	---

Accompanying notes are an integral part of these condensed interim consolidated financial statements.

HORACIO DANIEL MARÍN<br><br><br>President

YPF SOCIEDAD ANONIMA<br> <br>CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW<br> <br>FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2026 AND 2025<br><br><br>(Amounts expressed in millions of United States dollars)
	For the three-month periods endedMarch 31,
---	---	---	---	---
	2026		2025
Cash flows from operating activities
Net profit / (loss)		409		(10)
Adjustments to reconcile net profit to cash flows provided by operating activities:
Income from equity interests in associates and joint ventures		(101)		(81)
Depreciation of property, plant and equipment		653		718
Amortization of intangible assets		17		14
Depreciation of right-of-use<br>assets		73		74
Retirement of property, plant and equipment and intangible assets and consumption of materials		56		99
Charge on income tax		243		38
Net increase in provisions		102		261
Effect of changes in exchange rates, interest and others		291		243
Share-based benefit plans		3		2
Result from sale of assets		(4)		(14)
Result from changes in fair value of assets held for sale		(14)		200
Changes in assets and liabilities:
Trade receivables		(58)		(14)
Other receivables		1		(224)
Inventories		(5)		(69)
Accounts payable		81		(282)
Taxes payable		123		(12)
Salaries and social security		64		27
Other liabilities		(80)		(104)
Decrease in provisions due to payment/use		(26)		(59)
Contract assets		(2)		5
Contract liabilities		63		45
Proceeds from collection of profit loss insurance		-		1
Income tax payments		(24)		(8)
Net cash flows from operating activities ^(1)(2)^	****	1,865	****	850
Investing activities: ^(3)^
Acquisition of property, plant and equipment and intangible assets		(1,090)		(1,205)
Additions of assets held for sale		(4)		(33)
Contributions and acquisitions of interests in associates and joint ventures		(34)		(71)
Acquisitions from business combinations net of cash and cash equivalents		-		(243)
Proceeds from sales of financial assets		49		97
Payments from purchase of financial assets		(145)		-
Interests received from financial assets		1		1
Proceeds from concessions, assignment agreements and sale of assets		514		71
Net cash flows used in investing activities	****	(709)	****	(1,383)
Financing activities: ^(3)^
Payments of loans		(1,173)		(1,087)
Payments of interests		(257)		(221)
Proceeds from loans		769		1,767
Account overdrafts, net		(3)		-
Payments of leases		(96)		(105)
Payments of interests in relation to income tax		(27)		-
Net cash flows (used in) / from financing activities	****	(787)	****	354
Effect of changes in exchange rates on cash and cash equivalents	****	24	****	(1)
Increase / (Decrease) in cash and cash equivalents	****	393	****	(180)
Cash and cash equivalents at the beginning of the fiscal year		933		1,118
Cash and cash equivalents at the end of the period		1,326		938
Increase / (Decrease) in cash and cash equivalents	****	393	****	(180)
(1)	Does not include the effect of changes in exchange rates generated by cash and cash equivalents, which is disclosed<br>separately in this statement.
---	---
(2)	Includes 19 and 20 for the three-month periods ended March 31, 2026 and 2025, respectively, for payments of<br>short-term leases and payments of the variable charge of leases related to the underlying asset use or performance.
---	---
(3)	The main investing and financing transactions that have not affected cash and cash equivalents correspond to:<br>
---	---
	For the three-month periods endedMarch 31,
---	---	---	---	---
	2026		2025
Unpaid acquisitions of property, plant and equipment and intangible assets		404		590
Unpaid additions of assets held for sale		1		5
Additions of right-of-use<br>assets		159		11
Capitalization of depreciation of<br>right-of-use assets		10		16
Capitalization of financial accretion for lease liabilities		1		3
Unpaid receivables from the sale of assets		387		-

Accompanying notes are an integral part of these condensed interim consolidated financial statements.

HORACIO DANIEL MARÍN<br><br><br>President

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

1. GENERAL INFORMATION, STRUCTURE AND ORGANIZATION OF THEGROUP’S BUSINESS

General information

YPF S.A. (“YPF” or the “Company”) is a stock corporation (sociedad anónima) incorporated under the Argentine laws, with a registered office at Macacha Güemes 515, in the Autonomous City of Buenos Aires.

YPF and its subsidiaries (the “Group”) form the leading energy group in Argentina, which operates a fully integrated oil and gas chain with leading positions in the local market for Upstream, Midstream, Downstream, LNG, Integrated Gas and New Energies businesses in Argentina.

Structure and organization of the Group’s business

As of March 31, 2026, the Group carries out its operations in accordance with the following structure:

-	Upstream
-	Midstream and Downstream
---	---
-	LNG and Integrated Gas
---	---
-	New Energies
---	---
-	Central Administration and Others
---	---

Activities covered by each business segment are detailed in Note 6. The following table presents the main companies of the Group as of March 31, 2026, by business segment:

Entity	Country		Main business
Upstream
SC Gas		Argentina	Hydrocarbon exploitation	100%	Subsidiary
VMI		Argentina	Hydrocarbon exploitation	100%	Subsidiary
Midstream and Downstream
OPESSA		Argentina	Gas stations	99.99%	Subsidiary
Refinor		Argentina	Industrialization and commercialization of hydrocarbons	100%	Subsidiary
OTA		Argentina	Hydrocarbon transportation	36%	Joint venture
OTC		Chile	Hydrocarbon transportation	36%	Joint venture
Oldelval		Argentina	Hydrocarbon transportation	37%	Associate
OTAMERICA		Argentina	Hydrocarbon transportation	30%	Associate
Termap		Argentina	Hydrocarbon transportation	33.15%	Associate
VMOS ^(3) (5)^		Argentina	Hydrocarbon transportation	24.49%	Associate
YPF Gas		Argentina	Commercialization of LPG	33.99%	Associate
LNG and Integrated Gas
YPF Chile		Chile	Commercialization of natural gas	100%	Subsidiary
Argentina LNG		Argentina	Industrialization and commercialization of LNG	100%	Subsidiary
Sur Inversiones Energéticas		Argentina	Industrialization and commercialization of LNG through Southern Energy S.A. associate.	100%	Subsidiary
MEGA		Argentina	Separation of natural gas liquids and their fractionation	38%	Joint venture
New Energies
Metrogas ^(2)^		Argentina	Distribution of natural gas	70%	Subsidiary
Metroenergía		Argentina	Commercialization of natural gas	71.50%	Subsidiary
Y-TEC		Argentina	Research and development of technology	51%	Subsidiary
YPF EE		Argentina	Generation of electric power	75%	Joint venture
CT Barragán		Argentina	Generation of electric power	50%	Joint venture
CDS ^(4)^		Argentina	Generation of electric power	10.25%	Associate
Central Administration and Others
AESA		Argentina	Engineering and construction services	100%	Subsidiary
YPF Digital		Argentina	Digital development services and solutions	100%	Subsidiary
(1)	Held directly by YPF and indirectly through its subsidiaries.
---	---
(2)	See Note 35.c.3) “Note from ENARGAS related to YPF’s equity interest in Metrogas” section to the annual<br>consolidated financial statements.
---	---
(3)	See Note 34.d) to the annual consolidated financial statements.
---	---
(4)	Additionally, the Group has a 22.36% indirect holding in capital stock through YPF EE.
---	---
(5)	On April 23, 2026, VMOS’s Shareholders’ Meeting approved an increase in the transportation capacity<br>available to YPF and Chevron Argentina S.R.L., which will result in an increase in YPF’s equity interest in VMOS. As of the date of issuance of these condensed interim consolidated financial statements, such increase is pending subscription<br>and payment. After the subscription and payment process is completed, YPF will hold a 29.82% interest in that company.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

2. BASIS OF PREPARATION OF THE CONDENSED INTERIM CONSOLIDATEDFINANCIAL STATEMENTS

2.a) Applicable accounting framework

The condensed interim consolidated financial statements of the Company for the three-month period ended March 31, 2026, are presented in accordance with IAS 34 “Interim financial reporting”. Therefore, they should be read together with the annual consolidated financial statements of the Company as of December 31, 2025 (“annual consolidated financial statements”) presented in U.S. dollars and in accordance with IFRS Accounting Standards as issued by the IASB.

These condensed interim consolidated financial statements corresponding to the three-month period ended March 31, 2026, are unaudited. The Company believes they include all necessary adjustments to reasonably present the results of each period on a basis consistent with the audited annual consolidated financial statements. Net Income for the three-month period ended March 31, 2026 does not necessarily reflect the proportion of the Group’s full-year net income.

2.b) Material accounting policies

The material accounting policies are described in Note 2.b) to the annual consolidated financial statements.

The accounting policies adopted in the preparation of these condensed interim consolidated financial statements are consistent with those used in the preparation of the annual consolidated financial statements, except for the valuation policy for income tax described in Note 19.

Functional currency

As mentioned in Note 2.b.1) to the annual consolidated financial statements, YPF has defined the U.S. dollar as its functional currency.

The consolidated financial statements used by YPF for statutory, legal and regulatory purposes in Argentina are those in pesos and filed with the CNV and approved by the Board of Directors and authorized to be issued on May 7, 2026.

Adoption of new standards, interpretations and amendments

The Company has adopted all standards, interpretations and amendments issued by the IASB that are relevant to its operations and are mandatory effective January 1, 2026, as described in Note 2.b.14) to the annual consolidated financial statements.

In accordance with Article 1, Chapter III, Title IV of the CNV rules, the early application of the IFRS and/or their amendments is not permitted for issuers filing financial statements with the CNV, unless specifically admitted by such commission. Consequently, standards and interpretations issued by the IASB whose application is not mandatory at the closing date of these condensed interim consolidated financial statements have not been adopted by the Group.

2.c) Significant estimates and key sources of estimation uncertainty

In preparing the financial statements at a certain date, the Group is required to make estimates and assessments affecting the amount of assets and liabilities recorded and the contingent assets and liabilities disclosed at such date, as well as income and expenses recognized in the fiscal year or period. Actual future profit or loss might differ from the estimates and assessments made at the date of preparation of these condensed interim consolidated financial statements.

The assumptions relating to the future and other key sources of uncertainty about the estimates made for the preparation of these condensed interim consolidated financial statements are consistent with those used by the Group in the preparation of the annual consolidated financial statements, which are disclosed in Note 2.c) to the annual consolidated financial statements.

2.d) Comparative information

Amounts and other financial information corresponding to the fiscal year ended December 31, 2025 and for the three-month period ended March 31, 2025 are an integral part of these condensed interim consolidated financial statements and are intended to be read only in relation to these financial statements.

HORACIO DANIEL MARÍN<br><br><br>President

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

3. SEASONALITY OF OPERATIONS

Historically, the Group’s results have been subject to seasonal fluctuations throughout the year, particularly as a result of the increase in natural gas sales during the winter driven by the increased demand in the residential segment. Consequently, the Group is subject to seasonal fluctuations in its sales volumes and prices, with higher sales of natural gas during the winter at higher prices.

4. ACQUISITIONS AND DISPOSALS

The most relevant acquisitions and disposals of companies that took place during the three-month period ended March 31, 2026 are described below:

Asset exchange between YPF and Pluspetrol S.A. (“Pluspetrol”)

On January 22, 2026, the Company entered into an asset swap agreement with Pluspetrol (see Note 38 to the annual consolidated financial statements). On April 30, 2026, after the fulfillment of the closing conditions, the asset exchange agreement between YPF and Pluspetrol was completed, as a result of which YPF, which owned 50% of the rights and obligations in the “Aguada Villanueva,” “Las Tacanas,” and “Meseta Buena Esperanza” exploitation concessions prior to the aforementioned exchange, is the only owner of 100% of those concessions.

Likewise, on that date, YPF and Pluspetrol signed an amendment to the agreement entered into on January 22, 2026, whereby YPF agrees, subject to the fulfillment of closing conditions, to assign 20% of the “La Escalonada” and “Rincón La Ceniza” exploitation concessions to Pluspetrol through VMI, or alternatively, to transfer 44.44% of VMI’s shares to Pluspetrol. As of the date of issuance of these condensed consolidated interim financial statements, the closing conditions have not yet been met.

Acquisition of interest in the “Bandurria Sur,” “Bajo del Toro,” and “Bajo del Toro Norte” blocks

On February 1, 2026, YPF entered into agreements with Vista Energy S.A.B. de C.V. (“Vista”) for (i) the share purchase and sale agreement in Equinor Argentina S.A.U., the company that owns 30% of the “Bandurria Sur” exploitation concession, and (ii) the acquisition of a 15% interest in the “Bajo del Toro” and “Bajo del Toro Norte” exploitation concessions (see Note 38 to the consolidated annual financial statements).

On May 7, 2026, after the fulfillment of the closing conditions, the agreements entered into between YPF and Vista were completed; as of that date YPF, which held interests in the “Bandurria Sur,” “Bajo del Toro,” and “Bajo del Toro Norte” prior to the aforementioned agreements, owns a total (direct and indirect) interest of 44.9% in the “Bandurria Sur” block and 65% in the “Bajo del Toro” and “Bajo del Toro Norte” blocks.

5. FINANCIAL RISK MANAGEMENT

The Group’s activities expose it to a variety of financial risks: Market risk (including exchange rate risk, interest rate risk, and price risk), liquidity risk and credit risk. Within the Group, risk management functions are conducted in relation to financial risks associated to financial instruments to which the Group is exposed during a certain period or as of a specific date.

During the three-month period ended March 31, 2026, there were no significant changes in the administration or policies of risk management implemented by the Group as described in Note 4 to the annual consolidated financial statements.

•	Liquidity risk management

Most of the Group’s loans contain market-standard covenants for contracts of this nature, which include financial covenants mainly related to restrictions on incurring additional debt associated with the leverage ratio and the debt interest coverage ratio, restrictions on dividend payments, and events of defaults triggered by materially adverse judgements, among others. See Notes 17 and 33 to the annual consolidated financial statements and Notes 18 and 34.

The Group monitors compliance with covenants on a quarterly basis. As of March 31, 2026, the Group is in compliance with its covenants.

HORACIO DANIEL MARÍN<br><br><br>President

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

6. BUSINESS SEGMENT INFORMATION

The different business segments in which the Group’s organization is structured consider the different activities from which the Group can obtain revenues and incur expenses. Such organizational structure is based on the way in which the chief decision maker analyzes the main operating and financial magnitudes for making decisions about resource allocation and performance assessment, also considering the business strategy of the Group.

Business segment information is presented consistently with the manner of reporting the information used by the chief decision maker to allocate resources and assess business segment performance.

The business segments structure is organized as follows:

•	Upstream

It performs all activities related to the exploration and exploitation of hydrocarbon fields and production of crude oil and natural gas.

Its revenues are mainly derived from: (i) the sale of the produced crude oil to third parties and to the Midstream and Downstream business segment; (ii) the sale of the produced natural gas to third parties and to the LNG and Integrated Gas business segment; and (iii) the sale of the natural gas retained in plant to the Midstream and Downstream business segment.

It incurs all costs related to the aforementioned activities.

•	Midstream and Downstream

It performs activities related to: (i) the refining, transportation and commercialization of refined products; (ii) the production, transportation and commercialization of petrochemical products; (iii) the transportation and commercialization of crude oil; and (iv) the commercialization of specialties for the agribusiness industry and of grains and their by-products.

Its revenues are mainly derived from the sale of crude oil, refined and petrochemical products, and specialties for agribusiness industry and grains and their by-products, through the businesses of Retail, Commercial Networks, Industries, Transportation, Aviation, Agro, Lubricants and Specialties, LPG, Chemicals, International Trade and Transportation and Sales to Companies. In addition, it obtains revenues from midstream oil, midstream gas and natural gas storage operations and the provision of LNG regasification services.

It incurs all costs related to the aforementioned activities, including the purchase of: (i) crude oil from the Upstream business segment and third parties; (ii) natural gas to be consumed in the refinery and petrochemical industrial complexes from the LNG and Integrated Gas business segment; and (iii) natural gas retained in plant from the Upstream business segment.

•	LNG and Integrated Gas

It performs activities related to: (i) natural gas transportation and commercialization to third parties and to the Midstream and Downstream business segment; (ii) the separation of natural gas liquids and their fractionation, storage and transportation for the production of ethane, propane, butane and gasoline, and its commercialization, through our investment in joint venture Mega; and (iii) the development of LNG capacity.

Its revenues are mainly derived from the sale of natural gas as producers to third parties and to the Midstream and Downstream and the New Energies business segments for our subsidiary Metrogas.

It incurs all costs related to the aforementioned activities, including the purchase of natural gas from the Upstream business segment.

HORACIO DANIEL MARÍN<br><br><br>President

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

6. BUSINESS SEGMENT INFORMATION (cont.)

•	New Energies

It performs activities related to: (i) the definition and development of the new energy portfolio; (ii) the definition and development of sustainability and energy transitions programs; (iii) the distribution of natural gas through our subsidiary Metrogas; and (iv) the provision of research and development services of technology applied to the hydrocarbon industry through our subsidiary Y-TEC. Furthermore, through our joint ventures YPF EE and CT Barragán, this business segment performs activities related to the generation of conventional thermal electric power and renewable energy.

Its revenues are mainly derived from the sale and transportation and distribution of natural gas to third parties through our subsidiary Metrogas.

It incurs all costs related to the aforementioned activities, including the purchase of natural gas from the LNG and Integrated Gas business segment through our subsidiary Metrogas.

•	Central Administration and Others

It includes the remaining activities performed by the Group that do not fall within the aforementioned business segments and which are not reporting business segments, mainly comprising revenues, expenses and assets related to: (i) corporate administrative; (ii) the production of frac sand for well drilling/fracking purposes; (iii) the construction activities through our subsidiary AESA; and (iv) digital development services and solutions through our subsidiary YPF Digital.

Sales between business segments were made at internal transfer prices established by the Group, which approximately reflect domestic market prices.

Operating profit or loss and assets of each business segment have been determined after consolidation adjustments.

HORACIO DANIEL MARÍN<br><br><br>President

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

6. BUSINESS SEGMENT INFORMATION (cont.)


For the three-month period ended March 31, 2026
Revenues	33		4,212	304		203	194		-		4,946
Revenues from intersegment sales	1,988		45	67		3	265		(2,368	)	-
Revenues	2,021		4,257	371		206	459		(2,368	)	4,946
Operating profit or loss	616	^(3)^	1,085	(1	)	13	(170	)	(665	)	878
Income from equity interests in associates and joint ventures	-		9	17		75	-		-		101
Net financial results											(327	)
Net profit before income tax											652
Income tax											(243	)
Net profit for the period											409
Acquisitions of property, plant and equipment	828		169	18		9	12		-		1,036
Acquisitions of right-of-use<br>assets	105		54	-		-	-		-		159
Increases from business combinations	-		-	-		-	-		-		-
Other income statement items
Depreciation of property, plant and equipment<br>^(2)^	480		137	1		11	24		-		653
Amortization of intangible assets	-		9	-		3	5		-		17
Depreciation of right-of-use<br>assets	42		30	-		-	1		-		73
Balance as of March 31, 2026
Assets	13,578		12,019	746		2,320	2,513		(818	)	30,358
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

6. BUSINESS SEGMENT INFORMATION (cont.)

	Upstream
For the three-month period ended March 31, 2025
Revenues		18		3,868	333		189	200		-		4,608
Revenues from intersegment sales		2,049		62	67		3	282		(2,463	)	-
Revenues		2,067		3,930	400		192	482		(2,463	)	4,608
Operating profit or loss		(103	)	422	(5	)	24	(115	)	(31	)	192
Income from equity interests in associates and joint ventures		-		14	22		45	-		-		81
Net financial results												(245	)
Net profit before income tax												28
Income tax												(38	)
Net loss for the period												(10	)
Acquisitions of property, plant and equipment		1,060		213	3		10	20		-		1,306
Acquisitions of right-of-use<br>assets		2		1	-		-	8		-		11
Increases from business combinations		262		-	-		-	-		-		262
Other income statement items
Depreciation of property, plant and equipment<br>^(2)^		561		125	1		10	21		-		718
Amortization of intangible assets		-		9	-		4	1		-		14
Depreciation of right-of-use<br>assets		41		31	-		-	2		-		74
Balance as of December 31, 2025
Assets		13,167		11,093	735		2,502	2,094		(152	)	29,439
(1)	Corresponds to the eliminations among the business segments of the Group.
---	---
(2)	Includes depreciation of charges for impairment of property, plant and equipment.
---	---
(3)	Includes 9 of unproductive exploratory drillings as of March 31, 2026.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

7. FINANCIAL INSTRUMENTS BY CATEGORY

Fair value measurements

Fair value measurements are described in Note 6 to the annual consolidated financial statements.

The tables below present the Group’s financial assets measured at fair value through profit or loss as of March 31, 2026 and December 31, 2025, and their allocation to their fair value hierarchy levels:

	As of March 31, 2026
Financial assets	Level 1		Level 2		Level 3		Total
Investments in financial assets:
- Public securities		354		-		-		354
- Private securities - NO		12		-		-		12
		366		-		-		366
Cash and cash equivalents:
- Mutual funds		410		-		-		410
- Public securities		37		-		-		37
		447		-		-		447
		813		-		-		813
	As of December 31, 2025
Financial assets	Level 1		Level 2		Level 3		Total
Investments in financial assets:
- Public securities		250		-		-		250
- Private securities - NO		12		-		-		12
		262		-		-		262
Cash and cash equivalents:
- Mutual funds		382		-		-		382
- Public securities		24		-		-		24
		406		-		-		406
		668		-		-		668

The Group has no financial liabilities measured at fair value through profit or loss.

During the three-month period ended March 31, 2026, there were no transfers between the different hierarchies used to determine the fair value of the Group’s financial instruments.

Fair value of financial assets and financial liabilities measured at amortized cost

The estimated fair value of loans, considering unadjusted listed prices (Level 1) for NO and interest rates offered to the Group (Level 3) for the remaining loans, amounted to 9,938 and 10,696 as of March 31, 2026 and December 31, 2025, respectively.

The fair value of other receivables, trade receivables, cash and cash equivalents, other liabilities and accounts payable at amortized cost, do not differ significantly from their carrying amount.

8. INTANGIBLE ASSETS


Net carrying amount of intangible assets	1,113	1,108
Provision for impairment of intangible assets	(40)	(40)
	1,073	1,068
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

8. INTANGIBLE ASSETS (cont.)

The evolution of the Group’s intangible assets for the three-month period ended March 31, 2026 and as of the year ended December 31, 2025 is as follows:

	Service concessions	Exploration rights<br>and hydrocarbon<br>resources	Other intangibles	Total
Cost	1,050	110	536	1,696
Accumulated amortization	730	-	435	1,165
Balance as of December 31, 2024	320	110	101	531
Cost
Increases	74	-	8	82
Increases from business combinations	-	580	-	580
Translation effect	-	-	(31)	(31)
Adjustment for inflation ^(1)^	-	-	24	24
Decreases, reclassifications and other movements	-	(54)	29	(25)
Accumulated amortization
Increases	27	-	34	61
Translation effect	-	-	(20)	(20)
Adjustment for inflation ^(1)^	-	-	15	15
Decreases, reclassifications and other movements	-	-	(3)	(3)
Cost	1,124	636	566	2,326
Accumulated amortization	757	-	461	1,218
Balance as of December 31, 2025	367	636	105	1,108
Cost
Increases	8	-	2	10
Increases from business combinations	-	-	-	-
Translation effect	-	-	4	4
Adjustment for inflation ^(1)^	-	-	11	11
Decreases, reclassifications and other movements	-	-	9	9
Accumulated amortization
Increases	7	-	10	17
Translation effect	-	-	3	3
Adjustment for inflation ^(1)^	-	-	9	9
Decreases, reclassifications and other movements	-	-	-	-
Cost	1,132	636	592	2,360
Accumulated amortization	764	-	483	1,247
Balance as of March 31, 2026	368	636	109	1,13
Cost
(1)	Corresponds to the adjustment for inflation of opening balances of intangible assets of subsidiaries with the peso as<br>functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income.
---	---

9. PROPERTY, PLANT AND EQUIPMENT


Net carrying amount of property, plant and equipment	20,378	19,926
Provision for obsolescence of materials and equipment	(481)	(484)
Provision for impairment of property, plant and equipment	(339)	(357)
	19,558	19,085
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

9. PROPERTY, PLANT AND EQUIPMENT (cont.)

Changes in Group’s property, plant and equipment for the three-month periods ended March 31, 2026 and as of the year ended December 31, 2025 are as follows:

	Land and<br>buildings
Cost		1,355		28,511		9,331	728		1,563		6,068		59		896		1,565		1,375		953		52,404
Accumulated depreciation		715		22,329		6,230	378		-		-		-		800		1,041		711		744		32,948
Balance as of December 31, 2024		640		6,182		3,101	350		1,563		6,068		59		96		524		664		209		19,456
Cost
Increases		1		175		125	17		867		3,673		40		3		-		-		8		4,909
Increases from business combinations		11		184		51	93		46		50		-		-		-		-		-		435
Translation effect		(81	)	-		-	(31	)	(10	)	(16	)	-		(18	)	-		(399	)	(100	)	(655	)
Adjustment for inflation^(1)^		62		-		-	24		8		12		-		14		-		304		78		502
Decreases, reclassifications and other movements		(24	)	(1,174	)	555	178		(1,200	)	(4,376	)	(85	)	23		37		40		(17	)	(6,043	) ^(2) (3)^
Accumulated depreciation
Increases		27		2,348		389	59		-		-		-		40		75		26		28		2,992
Translation effect		(45	)	-		-	(19	)	-		-		-		(11	)	-		(205	)	(74	)	(354	)
Adjustment for inflation^(1)^		34		-		-	14		-		-		-		9		-		157		56		270
Decreases, reclassifications and other movements		(28	)	(4,134	)	-	(29	)	-		-		-		(10	)	(1	)	(1	)	(27	)	(4,230	) ^(2) (3)^
Cost		1,324		27,696		10,062	1,009		1,274		5,411		14		918		1,602		1,320		922		51,552
Accumulated depreciation		703		20,543		6,619	403		-		-		-		828		1,115		688		727		31,626
Balance as of December 31, 2025		621		7,153		3,443	606		1,274		5,411		14		90		487		632		195		19,926
Cost
Increases		1		-		4	1		195		827		2		3		-		-		3		1,036
Increases from business combinations		-		-		-	-		-		-		-		-		-		-		-		-
Translation effect		15		-		-	7		1		1		-		2		-		71		18		115
Adjustment for inflation^(1)^		25		-		-	11		3		3		-		4		-		127		37		210
Decreases, reclassifications and other movements		11		525		280	17		(177	)	(737	)	1		3		25		4		2		(46	)
Accumulated depreciation
Increases		8		504		100	15		-		-		-		10		21		8		7		673
Translation effect		8		-		-	3		-		-		-		2		-		35		17		65
Adjustment for inflation^(1)^		15		-		-	6		-		-		-		4		-		65		25		115
Decreases, reclassifications and other movements		-		(3	)	-	13		-		-		-		-		-		-		-		10
Cost		1,376		28,221		10,346	1,045		1,296		5,505		17		930		1,627		1,522		982		52,867
Accumulated depreciation		734		21,044		6,719	440		-		-		-		844		1,136		796		776		32,489
Balance as of March 31, 2026		642		7,177		3,627	605		1,296		5,505		17		86		491		726		206		20,378
(1)	Corresponds to the adjustment for inflation of opening balances of property, plant and equipment of subsidiaries with<br>the peso as functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income.
---	---
(2)	Includes 380 and 74 of cost and accumulated depreciation, respectively, of assets related to the “Aguada del<br>Chañar” exploitation concession reclassified to the “Assets held for sale” line item in the statement of financial position, see Note 11.b) to the annual consolidated financial statements.
---	---
(3)	Includes 4,630 and 3,879 of cost and accumulated depreciation, respectively, of assets related to the “Cerro<br>Fortunoso”, “Valle del Río Grande” and “Manantiales Behr” exploitation concessions within the context of the Optimization plan of the conventional Upstream portfolio reclassified to the “Assets held for<br>sale” line item in the statement of financial position, see Note 11.a) to the annual consolidated financial statements.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

9. PROPERTY, PLANT AND EQUIPMENT (cont.)

The Group capitalizes the financial cost of loans as part of the cost of the property, plant and equipment. For the three-month periods ended March 31, 2026 and 2025, the rate of capitalization was 7.03% and 6.57%, respectively, and the amount capitalized amounted to 4 and 3, respectively.

Set forth present is the evolution of the provision for obsolescence of materials and equipment for the three-month period ended March 31, 2026 and as of the year ended December 31, 2025:

	Provision for obsolescence<br>of materials and equipment
Balance as of December 31, 2024		223
Increases charged to profit or loss		371
Decreases charged to profit or loss		(41)
Applications due to utilization		(20)
Translation effect		(2)
Adjustment for inflation^(1)^		2
Reclassifications		(49)
Balance as of December 31, 2025		484
Increases charged to profit or loss		-
Decreases charged to profit or loss		(9)
Applications due to utilization		-
Translation effect		-
Adjustment for inflation^(1)^		-
Reclassifications		6
Balance as of March 31, 2026		481
(1)	Corresponds to the adjustment for inflation of opening balances of the provision for obsolescence of materials and<br>equipment of subsidiaries with the peso as functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income.
---	---

Set forth present is the evolution of the provision for impairment of property, plant and equipment for the three-month period ended March 31, 2026 and as of the year ended December 31, 2025:

	Provision for impairment of property, plant andequipment
Balance as of December 31, 2024		497
Increases charged to profit or loss		2
Decreases charged to profit or loss		(7)
Depreciation^(1)^		(135)
Translation effect		(4)
Adjustment for inflation^(2)^		4
Balance as of December 31, 2025		357
Increases charged to profit or loss		-
Decreases charged to profit or loss		-
Depreciation^(1)^		(20)
Translation effect		1
Adjustment for inflation^(2)^		1
Balance as of March 31, 2026		339
(1)	Included in “Depreciation of property, plant and equipment” line item in the statement of comprehensive<br>income, see Note 28.
---	---
(2)	Corresponds to the adjustment for inflation of opening balances of the provision for impairment of property, plant and<br>equipment of subsidiaries with the peso as functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

10.RIGHT-OF-USE ASSETS

The evolution of the Group’s right-of-use assets for the three-month period ended March 31, 2026 and as of the year ended December 31, 2025 is as follows:

	Land and<br>buildings
Cost		52	568	611	114	673	2,018
Accumulated depreciation		32	502	284	67	390	1,275
Balance as of December 31, 2024		20	66	327	47	283	743
Cost
Increases		-	37	40	-	139	216
Translation effect		-	-	-	(8)	-	(8)
Adjustment for inflation ^(1)^		-	-	-	5	-	5
Decreases, reclassifications and other movements		(7)	(19)	(4)	-	(51)	(81)
Accumulated depreciation
Increases		6	35	111	11	180	343
Translation effect		-	-	-	(6)	-	(6)
Adjustment for inflation ^(1)^		-	-	-	4	-	4
Decreases, reclassifications and other movements		(1)	(2)	-	-	-	(3)
Cost		45	586	647	111	761	2,150
Accumulated depreciation		37	535	395	76	570	1,613
Balance as of December 31, 2025		8	51	252	35	191	537
Cost
Increases		-	105	19	-	35	159
Translation effect		-	-	-	1	-	1
Adjustment for inflation ^(1)^		-	-	-	4	-	4
Decreases, reclassifications and other movements		-	(20)	-	(8)	-	(28)
Accumulated depreciation
Increases		1	11	29	4	38	83
Translation effect		-	-	-	2	-	2
Adjustment for inflation ^(1)^		-	-	-	1	-	1
Decreases, reclassifications and other movements		-	(18)	-	(4)	-	(22)
Cost		45	671	666	108	796	2,286
Accumulated depreciation		38	528	424	79	608	1,677
Balance as of March 31, 2026		7	143	242	29	188	609
(1)	Corresponds to the adjustment for inflation of opening balances of right-of-use assets of subsidiaries with the peso as functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income.
---	---

11. INVESTMENTS IN ASSOCIATES AND JOINT VENTURES

The following table presents the value of the investments in associates and joint ventures at an aggregate level as of March 31, 2026 and December 31, 2025:

	March 31, 2026		December 31, 2025
Amount of investments in associates		341		326
Amount of investments in joint ventures		1,376		1,284
	****	1,717	****	1,610
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

11. INVESTMENTS IN ASSOCIATES AND JOINT VENTURES (cont.)

The main concepts which affected the value of the aforementioned investments during the three-month period ended March 31, 2026 and as of the year ended December 31, 2025, correspond to:

	Investments in associatesand joint ventures
Balance as of December 31, 2024		1,960
Acquisitions and contributions		96
Capitalization in associates and joint ventures		12
Income on investments in associates and joint ventures		122
Distributed dividends ^(4)^		(249	)
Translation differences		(17	)
Adjustment for inflation ^(1)^		18
Decrease of companies ^(2)^		(261	)
Other movements ^(3)^		(71	)
Balance as of December 31, 2025		1,610
Acquisitions and contributions		34
Capitalization in associates and joint ventures		-
Income on investments in associates and joint ventures		101
Distributed dividends		(39	)
Translation differences		4
Adjustment for inflation ^(1)^		7
Decrease of companies		-
Other movements		-
Balance as of March 31, 2026		1,717
(1)	Corresponds to the adjustment for inflation of opening balances of associates and joint ventures with the peso as<br>functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income, see Note 2.b.1) to the annual consolidated financial statements.
---	---
(2)	Corresponds to the decrease due to the sale of Profertil, see Note 3 to the annual consolidated financial statements.<br>
---	---
(3)	Corresponds to the decrease in the OLCLP and Refinor joint ventures, see Note 3 to the annual consolidated financial<br>statements.
---	---
(4)	Includes 23 that were offset by trade liabilities.
---	---

The following table presents the principal amounts of the results of the investments in associates and joint ventures of the Group, calculated according to the equity method, for the three-month periods ended March 31, 2026 and 2025. The values reported by these companies have been adjusted, if applicable, to adapt them to the accounting policies used by the Company for the calculation of the equity method value in the aforementioned dates:

	Associates				Joint ventures
	For the three-month periods ended March 31,				For the three-month periods ended March 31,
	2026		2025		2026		2025
Net income		8		9		93		72
Other comprehensive income		11		3		-		1
Comprehensive income		19		12		93		73

The Company has no investments in subsidiaries with significant non-controlling interests. Likewise, the Company has no significant investments in associates and joint ventures, except for the investment in YPF EE.

12. ASSETS HELD FOR SALE AND ASSOCIATED LIABILITIES

The following table presents the main assets held for sale and associated liabilities as of March 31, 2026 and December 31, 2025:


	Upstream	Midstream andDownstream	Total
Balance as of March 31, 2026
Assets held for sale
Property, plant and equipment - Optimization plan of the conventional Upstream portfolio
Property, plant and equipment - Gas stations

Liabilities directly associated with assets held for sale
Provision for hydrocarbon wells abandonment obligations - Optimization plan of the conventional Upstream<br>portfolio
Provision for environmental liabilities - Optimization plan of the conventional Upstream portfolio
Liabilities for concessions - Optimization plan of the conventional Upstream portfolio

All values are in US Dollars.

HORACIO DANIEL MARÍN<br><br><br>President

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

12. ASSETS HELD FOR SALE AND ASSOCIATED LIABILITIES (cont.)


	Upstream	Midstream andDownstream	Total
Balance as of December 31, 2025
Assets held for sale
Property, plant and equipment - Optimization plan of the conventional Upstream portfolio
Property, plant and equipment - Gas stations

Liabilities directly associated with assets held for sale
Provision for hydrocarbon wells abandonment obligations - Optimization plan of the conventional Upstream<br>portfolio
Provision for environmental liabilities - Optimization plan of the conventional Upstream portfolio
Liabilities for concessions - Optimization plan of the conventional Upstream portfolio

All values are in US Dollars.

12.a) Optimization plan of the conventional Upstream portfolio

12.a.1) Description of the Plan

The Optimization plan of the conventional Upstream portfolio is described in Note 11.a.1) to the annual consolidated financial statements.

As of the date of issuance of these condensed interim consolidated financial statements, the Company has signed assignment agreements for certain groups of assets as held for sale that are subject to closing conditions mainly related to regulatory and provincial approvals, for which the Company is taking the necessary steps to close; and considers that it is highly probable that these assets will be disposed. In addition, the Company maintains groups of assets as held for sale for which agreements have not yet been signed but continues in negotiations with third parties for their disposal or reversal. The delay in the fulfillment of the plan for the disposal of mature fields is due to the complexity of the negotiations, which is beyond the Company’s control. As of the date of issuance of these condensed interim consolidated financial statements, the Company considers that the disposal of such assets continues to be highly probable during 2026.

12.a.2) Accounting matters

In relation to the assignment and/or reversion agreements that have met the agreed closing conditions during the three-month period ended March 31, 2026, the Company recognized:

-	A gain from sale of assets in the “Other net operating results” line item in the statement of comprehensive<br>income of 4.
-	A gain from changes in the fair value of assets held for sale under “Other net operating results” line item<br>in the statement of comprehensive income of 14.
---	---
-	The derecognition of the carrying amount of the liabilities directly associated with assets held for sale net of the<br>assets held for sale of 90.
---	---

Likewise, the Company has committed to an optimization plan that involves operating efficiency measures related to the reduction of third party employees directly or indirectly affected to the operation of areas related to certain groups of assets held for disposal. For such concept, the Company recognized a loss for 70 in the “Provision for operating optimizations” line under “Other operating results, net” line item in the statement of comprehensive income.

13. INVENTORIES

	March 31, 2026
Finished goods		940		921
Crude oil and natural gas		375		393	^(2)^
Products in process		51		39
Raw materials, packaging materials and others		94		94
		1,460	^(1)^	1,447	^(1)^
(1)	As of March 31, 2026, and December 31, 2025, the carrying amount of inventories does not exceed their net<br>realizable value.
---	---
(2)	Includes 21 corresponding to the provision of inventories write-down as of December 31, 2025, respectively, see<br>Note 12 to the annual consolidated financial statements.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

14. OTHER RECEIVABLES

	March 31, 2026					December 31, 2025
	Non-current			Current		Non-current			Current
Receivables from services, sales of other assets and other advance payments		76			116		85			502	^(3)^
Tax credit and export rebates		85			100		67			99
Loans and balances with related parties ^(1)^		197			67		200			36
Collateral deposits		-			16		-			15
Prepaid expenses		44			82		48			39
Advances and loans to employees		-			7		-			6
Advances to suppliers and custom agents ^(2)^		8			52		6			90
Receivables with partners in JO and Consortiums		213			306		232			299
Miscellaneous		54			74		49			73
		677			820		687			1,159
Provision for other doubtful receivables		(41	)		-		(39	)		-
		636			820		648			1,159
(1)	See Note 37 for information about related parties.
---	---
(2)	Includes, among others, advances to custom agents for the payment of taxes and import rights related to the imports of<br>fuels and goods.
---	---
(3)	Includes receivable balances from the sale of Profertil, see Note 3 to the annual consolidated financial statements.<br>
---	---

15. TRADE RECEIVABLES

	March 31, 2026						December 31, 2025
	Non-current			Current			Non-current			Current
Accounts receivable and related parties ^(1) (2)^		13			1,863			12			1,728
Provision for doubtful trade receivables		(7	)		(79	)		(7	)		(74	)
		6			1,784			5			1,654
(1)	See Note 37 for information about related parties.
---	---
(2)	See Note 26 for information about credits for contracts included in trade receivables.
---	---

Set forth present is the evolution of the provision for doubtful trade receivables for the three-month period ended March 31, 2026 and for the fiscal year ended December 31, 2025:

	Provision for doubtfultrade receivables
	Non-current			Current
Balance as of December 31, 2024		9	^(1)^		52
Increases charged to expenses		-			62
Decreases charged to income		-			(8	)
Applications due to utilization		-			(20	)
Net exchange and translation differences		(2	)		(12	)
Balance as of December 31, 2025		7	^(1)^		74
Increases charged to expenses		-			7
Decreases charged to income		-			(4	)
Applications due to utilization		-			(1	)
Net exchange and translation differences		-			3
Balance as of March 31, 2026		7	^(1)^		79
(1)	Mainly including credits with distributors of natural gas for the accumulated daily differences pursuant to Decree<br>No. 1,053/2018, see Note 35.c.1) to the annual consolidated financial statements.
---	---

16. INVESTMENTS IN FINANCIAL ASSETS

	March 31, 2026
Investments at fair value through profit or loss
Public securities		354	^(1)^	250
Private securities - NO		12		12
		366		262
(1)	See Note 37.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

17. CASH AND CASH EQUIVALENTS

	March 31, 2026
Cash and banks ^(1)^		322	198
Short-term investments ^(2)^		557	329
Financial assets at fair value through profit or loss<br>^(3)^		447	406
		1,326	933
(1)	Includes balances granted as collateral, see Note 34.d) to the annual consolidated financial statements.<br>
---	---
(2)	Includes 73 and 13 of term deposits and other investments with BNA as of March 31, 2026 and December 31, 2025,<br>respectively.
---	---
(3)	See Note 7.
---	---

18. PROVISIONS

Changes in the Group’s provisions for the three-month period ended March 31, 2026 and for the fiscal year ended December 31, 2025 are as follows:

	Provision for lawsuitsand contingencies		Provision for environmentalliabilities		Provision for hydrocarbonwells abandonmentobligations		Total
	Non-current	Current	Non-current	Current	Non-current	Current	Non-current	Current
Balance as of December 31, 2024	129	21	99	36	856	59	1,084	116
Increases charged to expenses	41	-	142	-	114	-	297	-
Decreases charged to income	(7)	-	(1)	-	(36)	-	(44)	-
Increases from business combinations	2	-	-	-	12	-	14	-
Applications due to utilization	(1)	(25)	-	(92)	-	(22)	(1)	(139)
Net exchange and translation differences	(28)	(1)	-	-	-	-	(28)	(1)
Result from net monetary position ^(1)^	-	-	-	-	-	-	-	-
Reclassifications and other movements ^(2)^	(25)	25	(172)	174	(515)	54	(712)	253
Balance as of December 31, 2025	111	20	68	118	431	91	610	229
Increases charged to expenses	14	-	49	-	15	-	78	-
Decreases charged to income	-	-	(1)	-	(6)	-	(7)	-
Increases from business combinations	-	-	-	-	-	-	-	-
Applications due to utilization	-	(2)	-	(19)	-	(4)	-	(25)
Net exchange and translation differences	5	-	-	-	-	-	5	-
Result from net monetary position ^(1)^	-	-	-	-	-	-	-	-
Reclassifications and other movements	(2)	2	(41)	40	(4)	2	(47)	44
Balance as of March 31, 2026	128	20	75	139	436	89	639	248
(1)	Includes the adjustment for inflation of opening balances of provisions of subsidiaries with the peso as functional<br>currency which was charged to “Other comprehensive income” in the statement of comprehensive income, and the adjustment for inflation of the period which was charged to net profit or loss in the statement of comprehensive income.<br>
---	---
(2)	Includes 242 and 4 corresponding to the provisions for hydrocarbon wells abandonment obligations and for environmental<br>liabilities, respectively, related to the “Cerro Fortunoso”, “Valle del Río Grande” and “Manantiales Behr” exploitation concessions within the context of the Optimization plan of the conventional Upstream<br>portfolio reclassified to the “Liabilities directly associated with assets held for sale” line item in the statement of financial position, see Note 11.a) to the annual consolidated financial statements.
---	---

Provisions are described in Note 17 to the annual consolidated financial statements.

19. INCOME TAX

According to IAS 34, income tax expense is recognized in each interim period based on the best estimate of the effective income tax rate expected as the closing date of these condensed interim consolidated financial statements, considering the tax criteria that the Group assumes to apply during the fiscal year. If the estimate of such rate is modified based on new elements of judgment, the income tax expense could require adjustments in subsequent periods.

The amount accrued of income tax charge for the three-month periods ending March 31, 2026 and 2025 is as follows:

	For the three-month periods endedMarch 31,
	2026		2025
Current income tax		(151)		(18)
Deferred income tax		(92)		(20)
		(243)		(38)
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

19. INCOME TAX (cont.)

The effective income tax rate projected at the end of the fiscal year amounts to 37.27%. The difference between this rate and the effective rate as of December 31, 2025 is mainly explained by the effect of adhering in November 2025 to the Regularization plan associated with the calculation of tax loss carryforwards, see Note 18 to the annual consolidated financial statements.

As of March 31, 2026 and December 31, 2025 the Group has classified as deferred tax asset 41 and 9, respectively, and as deferred tax liability 511 and 373, respectively, all of which arise from the net deferred tax balances of each of the individual companies included in these condensed interim consolidated financial statements.

As of March 31, 2026 and December 31, 2025, the causes that generated charges within “Other comprehensive income” line item in the statement of comprehensive income did not generate temporary differences subject to income tax.

20. TAXES PAYABLE

	March 31, 2026				December 31, 2025
	Non-current		Current		Non-current		Current
VAT		-		55		-		41
Withholdings and perceptions		-		69		-		77
Royalties		-		97		-		51
Fuels tax		19		88		18		14
Turnover tax		-		6		-		7
Miscellaneous		-		35		-		27
		19		350		18		217

21. SALARIES AND SOCIAL SECURITY

	March 31, 2026				December 31, 2025
	Non-current		Current		Non-current		Current
Salaries and social security		-		99		-		73
Bonuses and incentives provision		-		173		-		166
Cash-settled share-based payments provision ^(1)^		95		-		58		-
Vacation provision		-		62		-		61
Provision for severance indemnities ^(2)^		-		32		-		31
Miscellaneous		3		5		5		5
		98		371		63		336
(1)	Corresponds to the Value Generation Plan, see Note 38.
---	---
(2)	Includes, mainly, severance indemnities related to the Mature Fields Project, see Note 11.a) to the annual consolidated<br>financial statements.
---	---

22. LEASE LIABILITIES

The evolution of the Group’s leases liabilities for the three-month period ended March 31, 2026 and for the fiscal year ended December 31, 2025, is as follows:

	Lease liabilities
Balance as of December 31, 2024		776
Increases of leases		216
Financial accretions		65
Decreases of leases		(80)
Payments		(406)
Balance as of December 31, 2025		571
Increases of leases		159
Financial accretions		12
Decreases of leases		(6)
Payments		(96)
Balance as of March 31, 2026		640
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

23. LOANS

									March 31, 2026					December 31, 2025
	Interest rate^(1)^						Maturity		Non-current		Current			Non-current		Current
Pesos:
Financial loans		12.57	%	-	43.04	%		2026-2027		28		55			61		24
Account overdrafts				-				-		-		-			-		3
									28		55			61		27
Currencies other than the peso:
NO ^(2) (3)^		0.00	%	-	10.00	%		2026-2047		7,831		1,216			7,466		1,486
Exports pre-financing		2.00	%	-	8.65	%		2026-2028		102		14	^(5)^		153		197
Imports financing		7.60	%	-	10.50	%		2026		-		22			-		20
Financial loans ^(4)^		3.00	%	-	9.25	%		2026-2030		565		244			546		561
Stock market promissory notes		3.95	%	-	4.50	%		2026		-		40			-		64
									8,498		1,536			8,165		2,328
									8,526		1,591			8,226		2,355
(1)	Nominal annual interest rate as of March 31, 2026.
---	---
(2)	Disclosed net of 176 and 175 corresponding to YPF’s own NO repurchased through open market transactions, as of<br>March 31, 2026 and December 31, 2025, respectively.
---	---
(3)	Includes 1,218 and 1,475 as of March 31, 2026 and December 31, 2025, respectively, of nominal value that will<br>be canceled in pesos at the applicable exchange rate in accordance with the terms of the series issued.
---	---
(4)	Includes 284 and 233 of loans granted by BNA as of March 31, 2026 and December 31, 2025, respectively.<br>
---	---
(5)	Includes 3 as of March 31, 2026 of pre-financing of exports granted by<br>BNA.
---	---

Set forth below is the evolution of the loans for three-month period ended March 31, 2026 and for the fiscal year ended December 31, 2025:

	Loans
Balance as of December 31, 2024		8,942
Proceeds from loans		4,481
Payments of loans		(2,871)
Payments of interest		(670)
Account overdrafts, net		4
Accrued interest ^(1)^		691
Net exchange and translation differences		(14)
Result from net monetary position ^(2)^		(5)
Increases from business combinations		23
Balance as of December 31, 2025		10,581
Proceeds from loans		769
Payments of loans		(1,173)
Payments of interest		(257)
Account overdrafts, net		(3)
Accrued interest ^(1)^		197
Net exchange and translation differences		3
Result from net monetary position ^(2)^		-
Increases from business combinations		-
Balance as of March 31, 2026		10,117
(1)	Includes capitalized financial costs.
---	---
(2)	Includes the adjustment for inflation of opening balances of loans of subsidiaries with the peso as functional currency<br>which was charged to “Other comprehensive income” in the statement of comprehensive income, and the adjustment for inflation of the period which was charged to net profit or loss in the statement of comprehensive income.<br>
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

23. LOANS (cont.)

Details regarding the NO of the Group are as follows:

														March 31, 2026				December 31, 2025
Month	Year		Principal value ^(3)^			Class		Interest rate^(1)^				Principal maturity		Non-current		Current		Non-current		Current
YPF
-		1998		U.S. dollar	15		-		Fixed	10.00	%		2028		15		1		15		-
July, December		2017		U.S. dollar	644		Class LIII		Fixed	6.95	%		2027		647		8		648		19
December		2017		U.S. dollar	537		Class LIV		Fixed	7.00	%		2047		530		11		530		2
June		2019		U.S. dollar	399		Class I		Fixed	8.50	%		2029		398		9		397		-
February		2021		U.S. dollar	748		Class XVII		Fixed	9.00	%		2029		537		232		537		216
February		2021		U.S. dollar	576		Class XVIII		Fixed	7.00	%		2033		559		-		558		11
July		2021		U.S. dollar	384		Class XX		Fixed	5.75	%		2032		302		59		329		65
January		2023		U.S. dollar	230		Class XXI		-	-			-		-		-		-		154
April		2023		U.S. dollar	38		Class XXIV		Fixed	1.00	%		2027		38		-		38		-
June		2023		U.S. dollar	213		Class XXV		-	-			-		-		-		-		188
September		2023		U.S. dollar	400		Class XXVI		Fixed	0.00	%		2028		400		-		400		-
October		2023		U.S. dollar	128		Class XXVII		Fixed	0.00	%		2026		-		126		-		133
January		2024		U.S. dollar	800		Class XXVIII		Fixed	9.50	%		2031		636		174		714		114
May		2024		U.S. dollar	131		Class XXIX		-	-			-		-		-		-		132
July, April		2024/25		U.S. dollar	389		Class XXX		Fixed	1.00	%		2026		-		303		-		370
September		2024		U.S. dollar	540		Class XXXI		Fixed	8.75	%		2031		1,045		5		1,046		21
October		2024		U.S. dollar	125		Class XXXII		Fixed	6.50	%		2028		125		2		125		2
October		2024		U.S. dollar	25		Class XXXIII		Fixed	7.00	%		2028		25		1		25		-
January ^(4)^		2025		U.S. dollar	1,632		Class XXXIV		Fixed	8.25	%		2034		1,624		28		1,080		42
February		2025		U.S. dollar	140		Class XXXV		Fixed	6.25	%		2027		-		140		140		1
May ^(2)^		2025		U.S. dollar	140		Class XXXVII		Fixed	7.00	%		2027		139		1		139		2
July ^(2)^		2025		U.S. dollar	250		Class XXXVIII		Fixed	7.50	%		2027		248		4		248		4
July, August ^(2)^		2025		U.S. dollar	225		Class XXXIX		Fixed	8.75	%		2030		154		4		155		8
August ^(2)^		2025		U.S. dollar	51		Class XL		Fixed	7.50	%		2028		50		-		50		-
October ^(4)^		2025		U.S. dollar	99		Class XLI		Fixed	6.00	%		2027		-		100		98		1
December ^(4)^		2025		U.S. dollar	361		Class XLII		Fixed	7.00	%		2027		359		8		194		1
														7,831		1,216		7,466		1,486
(1)	Nominal annual interest rate as of March 31, 2026.
---	---
(2)	During the three-month period ended March 31, 2026, the Group has fully complied with the use of proceeds<br>disclosed in the corresponding pricing supplements.
---	---
(3)	Total nominal value issued without including the nominal values canceled through exchanges or repurchases, expressed in<br>millions.
---	---
(4)	As of the date of issuance of these condensed interim consolidated financial statements, the Group has not yet<br>definitively applied the proceeds disclosed in the corresponding pricing supplements. These proceeds are temporally invested until the committed plan of application is fully complied.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

24. OTHER LIABILITIES

	March 31, 2026				December 31, 2025
	Non-current		Current		Non-current		Current
Liabilities for concessions and assignment agreements		97		272		91		162
Liabilities for contractual claims ^(1)^		11		54		54		56
Provision for operating optimizations ^(2)^		-		75		-		22
Liabilities for agreements^(3)^		238		131		227		158
Miscellaneous		1		2		1		1
		347		534		373		399
(1)	Corresponds to the liability arising from the settlement agreement entered into with Transportadora de Gas del Norte<br>S.A. for claims related to restrictions in the natural gas market for the period from 2007 to 2010.
---	---
(2)	Includes, mainly, operating optimizations relating to Mature Fields Project, see Note 11.a.2) to the annual<br>consolidated financial statements and Note 12.a.2).
---	---
(3)	Includes, mainly, the liability related to the assignment of the exploitation concessions in the Province of Santa Cruz<br>within the context of the Mature Fields Project, see Note 11.a.2) to the annual consolidated financial statements.
---	---

25. ACCOUNTS PAYABLE

	March 31, 2026				December 31, 2025
	Non-current		Current		Non-current		Current
Trade payable and related parties ^(1)^		4		2,317		4		2,172
Guarantee deposits		1		3		1		3
Payables with partners of JO and Consortiums		1		30		1		48
Miscellaneous		-		17		-		15
		6		2,367		6		2,238
(1)	See Note 37 for information about related parties.
---	---

26. REVENUES

	For the three-month periods ended March 31,
	2026		2025
Revenue from contracts with customers		4,943		4,600
National Government incentives ^(1)^		3		8
		4,946		4,608
(1)	See Note 37.
---	---

The Group’s transactions and the main revenues by business segments are described in Note 6. In accordance with Note 25 to the annual consolidated financial statements, revenues from contracts with customers of the Group is classified into the following categories:

•	Breakdown of revenues

Type of good or service

	For the three-month periods ended March 31, 2026
	Upstream		MidstreamandDownstream		LNG andIntegratedGas		New<br>Energies		CentralAdministrationand Others		Total
Diesel		-		1,745		-		-		-		1,745
Gasolines		-		1,131		-		-		-		1,131
Natural gas ^(1)^		7		5		298		153		-		463
Crude oil		9		257		-		-		-		266
Jet fuel		-		282		-		-		-		282
Lubricants and by-products		-		84		-		-		-		84
LPG		-		124		-		-		-		124
Fuel oil		-		25		-		-		-		25
Petrochemicals		-		104		-		-		-		104
Fertilizers and crop protection products		-		41		-		-		-		41
Flours, oils and grains		-		149		-		-		-		149
Asphalts		-		23		-		-		-		23
Goods for resale at gas stations		-		33		-		-		-		33
Income from services		-		-		-		-		30		30
Income from construction contracts		-		-		-		-		86		86
Virgin naphtha		-		39		-		-		-		39
Petroleum coke		-		74		-		-		-		74
LNG regasification		-		1		-		-		-		1
Other goods and services		17		95		3		50		78		243
		33		4,212		301		203		194		4,943
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

26. REVENUES (cont.)

	For the three-month periods ended March 31, 2025
	Upstream		MidstreamandDownstream		LNG andIntegratedGas		NewEnergies		CentralAdministrationand Others		Total
Diesel		-		1,586		-		-		-		1,586
Gasolines		-		1,037		-		-		-		1,037
Natural gas ^(1)^		10		5		325		146		-		486
Crude oil		-		251		-		-		-		251
Jet fuel		-		213		-		-		-		213
Lubricants and by-products		-		87		-		-		-		87
LPG		-		141		-		-		-		141
Fuel oil		-		30		-		-		-		30
Petrochemicals		-		95		-		-		-		95
Fertilizers and crop protection products		-		34		-		-		-		34
Flours, oils and grains		-		139		-		-		-		139
Asphalts		-		25		-		-		-		25
Goods for resale at gas stations		-		36		-		-		-		36
Income from services		-		-		-		-		32		32
Income from construction contracts		-		-		-		-		96		96
Virgin naphtha		-		33		-		-		-		33
Petroleum coke		-		63		-		-		-		63
LNG regasification		-		1		-		-		-		1
Other goods and services		8		91		2		42		72		215
		18		3,867		327		188		200		4,600
(1)	Includes 316 and 342 corresponding to sales of natural gas produced by the Company for the three-month periods ended<br>March 31, 2026 and 2025, respectively.
---	---

Sales channels

	For the three-month periods ended March 31, 2026
	Upstream		MidstreamandDownstream		LNG andIntegratedGas		NewEnergies		CentralAdministrationand Others		Total
Gas stations		-		1,842		-		-		-		1,842
Power plants		-		-		117		67		-		184
Distribution companies		-		-		35		-		-		35
Retail distribution of natural gas		-		-		-		90		-		90
Industries, transport and aviation		6		1,017		148		19		-		1,190
Agriculture		-		431		-		-		-		431
Petrochemical industry		-		128		-		-		-		128
Trading		-		545		-		-		-		545
Oil companies		9		115		-		-		-		124
Commercialization of LPG		-		58		-		-		-		58
Other sales channels		18		76		1		27		194		316
		33		4,212		301		203		194		4,943
	For the three-month periods ended March 31, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---
	Upstream		MidstreamandDownstream		LNG andIntegratedGas		NewEnergies		CentralAdministrationand Others		Total
Gas stations		-		1,740		-		-		-		1,740
Power plants		-		-		127		18		-		145
Distribution companies		-		-		50		-		-		50
Retail distribution of natural gas		-		-		-		92		-		92
Industries, transport and aviation		10		968		150		70		-		1,198
Agriculture		-		381		-		-		-		381
Petrochemical industry		-		138		-		-		-		138
Trading		-		466		-		-		-		466
Oil companies		-		50		-		-		-		50
Commercialization of LPG		-		66		-		-		-		66
Other sales channels		8		58		-		8		200		274
		18		3,867		327		188		200		4,600
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

26. REVENUES (cont.)

Target market

Sales in the domestic market amounted to 4,070 and 3,844 for the three-month periods ended March 31, 2026 and 2025, respectively.

Sales in the international market amounted to 873 and 756 for the three-month periods ended March 31, 2026 and 2025, respectively.

•	Contract balances

The following table presents information regarding credits, contract assets and contract liabilities:

	March 31, 2026				December 31, 2025
	Non-current		Current		Non-current		Current
Credits for contracts included in the item of “Trade receivables”		12		1,825		11		1,678
Contract assets		-		5		-		3
Contract liabilities		212		145		180		117

Contract assets are mainly related to the activities carried out by the Group under construction contracts.

Contract liabilities are mainly related to advances received from customers under transportation service contracts.

For the three-month periods ended March 31, 2026 and 2025 the Group has recognized 36 and 42, respectively, in the “Revenues from contracts with customers” line under the “Revenues” line item in the statement of comprehensive income, which have been included in “Contract liabilities” line item in the statement of financial position at the beginning of each year.

27. COSTS

	For the three-month periods endedMarch 31,
	2026		2025
Inventories at beginning of year		1,447		1,546
Purchases		1,277		1,028
Production costs ^(1)^		1,916		2,349
Translation effect		1		(3)
Adjustment for inflation ^(2)^		5		5
Other movements		2		-
Inventories at end of the period		(1,460)		(1,617)
		3,188		3,308
(1)	See Note 28.
---	---
(2)	Corresponds to the adjustment for inflation of opening balances of inventories of subsidiaries with the peso as<br>functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

28. EXPENSES BY NATURE

The Group presents the statement of comprehensive income by classifying expenses according to their function as part of the “Costs”, “Administrative expenses”, “Selling expenses” and “Exploration expenses” line items. The following additional information is disclosed as required on the nature of the expenses and their relation to the function within the Group for the three-month periods ended March 31, 2026 and 2025:

	For the three-month periods ended March 31, 2026
	Production costs ^(2)^		Administrative expenses		Selling expenses			Exploration expenses		Total
Salaries and social security taxes		216		108		43			3		370
Fees and compensation for services		17		70		12			-		99
Other personnel expenses		66		9		4			1		80
Taxes, charges and contributions		32		50		222	^(1)^		-		304
Royalties, easements and fees		264		-		1			1		266
Insurance		8		1		-			-		9
Rental of real estate and equipment		28		-		3			-		31
Survey expenses		-		-		-			1		1
Depreciation of property, plant and equipment		613		14		26			-		653
Amortization of intangible assets		10		7		-			-		17
Depreciation of right-of-use<br>assets		70		-		3			-		73
Industrial inputs, consumable materials and supplies		83		3		3			1		90
Operation services and other service contracts		38		3		16			1		58
Preservation, repair and maintenance		304		9		9			2		324
Unproductive exploratory drillings		-		-		-			9		9
Transportation, products and charges		146		-		115			-		261
Provision for doubtful receivables		-		-		3			-		3
Publicity and advertising expenses		-		13		10			-		23
Fuel, gas, energy and miscellaneous		21		4		19			1		45
		1,916		291		489			20		2,716
(1)	Includes 63 corresponding to export withholdings and 137 corresponding to turnover tax.
---	---
(2)	Includes 7 corresponding to research and development activities.
---	---
	For the three-month periods ended March 31, 2025
---	---	---	---	---	---	---	---	---	---	---	---
	Production costs ^(2)^		Administrative expenses		Selling expenses			Exploration expenses		Total
Salaries and social security taxes		267		72		37			1		377
Fees and compensation for services		24		70		13			-		107
Other personnel expenses		79		9		3			1		92
Taxes, charges and contributions		20		55		220	^(1)^		-		295
Royalties, easements and fees		287		-		1			1		289
Insurance		21		-		-			-		21
Rental of real estate and equipment		67		-		4			-		71
Survey expenses		-		-		-			16		16
Depreciation of property, plant and equipment		683		10		25			-		718
Amortization of intangible assets		9		4		1			-		14
Depreciation of right-of-use<br>assets		70		-		4			-		74
Industrial inputs, consumable materials and supplies		121		1		4			1		127
Operation services and other service contracts		150		4		12			4		170
Preservation, repair and maintenance		402		8		11			5		426
Unproductive exploratory drillings		-		-		-			-		-
Transportation, products and charges		129		-		125			-		254
Provision for doubtful receivables		-		-		4			-		4
Publicity and advertising expenses		-		18		12			-		30
Fuel, gas, energy and miscellaneous		20		7		21			1		49
		2,349		258		497			30		3,134
(1)	Includes 65 corresponding to export withholdings and 148 corresponding to turnover tax.
---	---
(2)	Includes 8 corresponding to research and development activities.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

29. OTHER NET OPERATING RESULTS

	For the three-month periods ended March 31,
	2026		2025
Lawsuits		(13)		(8)
Export Increase Program ^(1)^		-		17
Result from sale of assets ^(2)^		4		14
Result from changes in fair value of assets held for sale<br>^(2)^		14		(200)
Provision for severance indemnities ^(2)^		-		(26)
Provision for operating optimizations ^(2)^		(70)		-
Provision for obsolescence of materials and equipment<br>^(2)^		9		(136)
Miscellaneous		(24)		16
		(80)		(323)
(1)	See Note 35.j) to the annual consolidated financial statements.
---	---
(2)	See Note 11.a.2) to the annual consolidated financial and Note 12.a.2).
---	---

30. NET FINANCIAL RESULTS

	For the three-month periods ended March 31,
	2026		2025
Financial income
Interest on cash and cash equivalents and investments in financial assets		10		6
Interest on trade receivables		17		9
Other financial income		5		1
Total financial income		32		16
Financial costs
Loan interest		(194)		(162)
Hydrocarbon well abandonment provision financial accretion<br>^(1)^		(51)		(95)
Other financial costs		(59)		(28)
Total financial costs		(304)		(285)
Other financial results
Exchange differences generated by loans		(1)		1
Exchange differences generated by cash and cash equivalents and investments in financial assets		14		(10)
Other exchange differences, net		(69)		13
Result on financial assets at fair value through profit or loss		28		30
Result from derivative financial instruments		(6)		1
Result from net monetary position		(21)		(11)
Total other financial results		(55)		24
Total net financial results		(327)		(245)
(1)	Includes 37 and 64 corresponding to the financial accretion of liabilities directly associated with assets held for<br>sale for the three-month periods ending March 31, 2026 and 2025, respectively, see Notes 2.b.13) and 11.a) to the annual consolidated financial statements.
---	---

31. INVESTMENTS IN JOINT OPERATIONS AND CONSORTIUMS

The assets and liabilities as of March 31, 2026 and December 31, 2025, and expenses for the three-month periods ended March 31, 2026 and 2025, of JO and Consortiums in which the Group participates are as follows:

	March 31, 2026		December 31, 2025
Non-current assets<br>^(1)^		7,086		6,936
Current assets		398		337
Total assets		7,484		7,273
Non-current liabilities		246		245
Current liabilities		750		557
Total liabilities		996		802
(1)	Does not include charges for impairment of property, plant and equipment because they are recorded by the partners<br>participating in the JO and Consortiums.
---	---
	For the three-month periods ended March 31,
---	---	---	---	---
	2026		2025
Production cost		715		673
Exploration expenses		3		4
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

32. SHAREHOLDERS’ EQUITY

As of March 31, 2026, the Company’s capital amounts to 3,921 and treasury shares amount to 12 represented by 393,312,793 book-entry shares of common stock and divided into four classes of shares (A, B, C and D), with a par value of 10 pesos and 1 vote per share. These shares are fully subscribed, paid-in and authorized for stock exchange listing.

As of March 31, 2026, there are 3,764 Class A outstanding shares. As long as any Class A share remains outstanding, the affirmative vote of the Argentine Government is required for: (i) mergers; (ii) acquisitions of more than 50% of YPF shares in an agreed or hostile bid; (iii) transfers of all the YPF’s exploitation and exploration rights; (iv) the voluntary dissolution of YPF; (v) change of corporate and/or tax address outside Argentina; or (vi) make an acquisition that would result in the purchaser holding 15% or more of the Company’s capital stock, or 20% or more of the outstanding Class D shares. Items (iii) and (iv) also require prior approval by the Argentine Congress.

During the three-month periods ended March 31, 2026 and 2025, the Company has not repurchased any of its own shares.

On April 30, 2026, the General Shareholders’ Meeting was held, which approved the statutory financial statements of YPF (see Note 2.b)) corresponding to the year ended on December 31, 2025 and, additionally, approved the following in relation to the retained earnings: (i) completely release the reserve for purchase of treasury shares and the reserve for investments; (ii) absorb accumulated losses in retained earnings up to 756 (1,096,460 million of pesos) (iii) allocate the amount of 27 (38,468 million of pesos) to appropriate a reserve for purchase of treasury shares; and (iv) allocate the amount of 5,802 (8,415,450 million of pesos) to appropriate a reserve for investments.

33. EARNINGS PER SHARE

The following table presents the net profit or loss attributable to shareholders of the parent company and the number of shares that have been used for the calculation of the basic and diluted earnings per share:

	For the three-month periods ended March 31,
	2026		2025
Net profit / (loss)		404		(16)
Weighted average number of shares outstanding		392,082,386		392,203,637
Basic and diluted earnings per share		1.03		(0.04)

There are no financial instruments or other contracts outstanding issued by YPF that imply the issuance of potential ordinary shares, thus the diluted earnings per share equals the basic earnings per share.

34. CONTINGENT ASSETSAND LIABILITIES

Contingent assets and liabilities are described in Note 33 to the annual consolidated financial statements. Updates for the three-month period ended March 31, 2026, are described below:

●	Petersen Energía Inversora, S.A.U. and Petersen Energía, S.A.U. (collectively, “Petersen”) -Eton Park Capital Management, L.P., Eton Park Master Fund, LTD. and Eton Park Fund, L.P. (collectively, “Eton Park”, and together with Petersen, the “Plaintiffs”)

On March 10, 2026, in proceedings brought by Bainbridge Fund Ltd. against the Republic, the Republic filed a motion to stay its appeal of the turnover order with the consent of Bainbridge Fund Ltd., until confirmation of a settlement between the parties. On March 16, 2026, the Court of Appeals ordered that the Republic’s appeal of the turnover order be held in abeyance pending settlement.

On March 18, 2026, the Court of Appeals stayed all post-judgment proceedings in the District Court, including discovery, pending the appeals of the District Court’s September 15, 2023 judgment.

HORACIO DANIEL MARÍN<br><br><br>President

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

34. CONTINGENT ASSETS AND LIABILITIES (cont.)

On March 27, 2026, briefing was completed in YPF’s appeals of the District Court’s September 17, 2025 and November 10, 2025 orders. Oral argument was calendared for April 16, 2026.

Likewise, on March 27, 2026, the Court of Appeals issued its decision in the appeals of the District Court’s September 15, 2023 judgment. The Court of Appeals’ decision affirmed the District Court’s determination that YPF has no contractual liability and owes no damages to Plaintiffs, and affirmed the dismissal of all of Plaintiffs’ claims against YPF. In addition, the Court of Appeals reversed the District Court’s judgment against the Republic on the basis that Plaintiffs’ contract claim is not cognizable under Argentine law and vacated the turnover order in Plaintiffs’ proceedings. YPF is not a party to the turnover proceedings.

On April 2, 2026, the Court of Appeals directed the parties to submit letter briefing regarding whether, in light of its March 27, 2026 decision, the other pending appeals, including YPF’s appeals, should be dismissed as moot.

On April 6, 2026, the District Court stayed all proceedings pending receipt of the mandate from the Court of Appeals and denied Plaintiffs’ motion for sanctions and contempt against the Republic as moot, without prejudice to refiling. YPF is not a party to this motion.

On April 9, 2026, the Court of Appeals granted Plaintiffs’ motion for an extension of time to file a petition for rehearing, and set May 8, 2026, as the deadline.

On April 10, 2026, after receiving briefs from all parties, the Court of Appeals adjourned the oral arguments scheduled for April 16 and held the pending appeals in abeyance, pending resolution of any rehearing or certiorari petitions related to the March 27, 2026 decision.

YPF will continue to defend itself in accordance with the applicable legal procedures and available defenses.

The Company will continue to reassess the status of these litigations and their possible impact on the results and financial situation of the Group, as needed.

35. CONTRACTUAL COMMITMENTS

During the three-month period ended March 31, 2026 there were no significant updates to the contractual commitments described in Note 34 to the annual consolidated financial statements.

36. MAIN REGULATIONS

Main regulations are described in Note 35 to the annual consolidated financial statements. Updates for the three-month period ended March 31, 2026, are described below:

•	Regulations applicable to natural gas and LNG activities

On March 13, 2026, in the context of the emergency in the national energy sector **** (see Note 35.e) to the annual consolidated financial statements), SE Resolution No. 66/2026 was published, establishing the “Reconfiguration of the Natural Gas Transportation System”. On April 14, 2026, ENARGAS Resolution No. 409/2026 was published, which, among other things, instructs transporters and distributors to enter into new firm transportation contracts or to adjust existing ones in accordance with SE Resolution No. 66/2026. Likewise, on May 1, 2026, the applicable regulatory framework defined by ENARGAS entered into force.

•	Tax Regulations

On March 6, 2026, Law No. 27,802, the “Labor Modernization Law” was published, introducing amendments to the Income Tax Law. The law establishes that loss carryforwards arising in fiscal years beginning on or after January 1, 2025, shall be adjusted based on the variation in the CPI published by INDEC between the closing month of the fiscal year in which such loss carryforwards originated and the closing month of the fiscal year in which they are settled. Likewise, the Labor Modernization Law introduced changes to Argentina’s labor regime related to the severance indemnity schemes, the collective negotiation frameworks, the calculation of interest in labor proceedings, among other things.

HORACIO DANIEL MARÍN<br><br><br>President

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

37. BALANCES AND TRANSACTIONS WITH RELATED PARTIES

The tables below present the balances with associates and joint ventures as of March 31, 2026 and December 31, 2025:

	March 31, 2026
	Other receivables				Tradereceivables		Investments infinancial assets		Accountspayable		Contractliabilities		Contractassets
	Non-Current		Current		Current		Current		Current		Current		Current
Joint Ventures:
YPF EE		-		6		7		4		32		-		-
Profertil ^(1)^		-		-		-		-		-		-		-
MEGA		-		-		41		-		5		-		2
Refinor ^(1)^		-		-		-		-		-		-		-
OLCLP ^(1)^		-		-		-		-		-		-		-
CT Barragán		-		-		-		-		-		-		-
OTA		-		-		-		-		1		-		-
		-		6		48		4		38		-		2
Associates:
CDS		-		-		9		-		-		-		-
YPF Gas		-		-		11		-		-		-		-
Oldelval		151		52		-		5		16		-		-
Termap		-		-		-		-		2		-		-
GPA		-		-		-		-		6		-		-
OTAMERICA		46		-		-		-		5		-		-
Gas Austral		-		-		-		-		-		-		-
VMOS		-		9		45		-		-		54		-
		197		61		65		5		29		54		-
		197		67		113		9		67		54		2
	December 31, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Other receivables				Tradereceivables		Investments infinancial assets		Accountspayable		Contractliabilities		Contractassets
	Non-Current		Current		Current		Current		Current		Current		Current
Joint Ventures:
YPF EE		-		6		6		4		32		-		-
Profertil ^(1)^		-		-		-		-		-		-		-
MEGA		-		-		33		-		-		-		3
Refinor ^(1)^		-		-		-		-		-		-		-
OLCLP ^(1)^		-		-		-		-		-		-		-
CT Barragán		-		-		-		-		-		-		-
OTA		-		1		-		-		4		-		-
		-		7		39		4		36		-		3
Associates:
CDS		-		-		1		-		-		-		-
YPF Gas		-		-		10		-		1		-		-
Oldelval		154		13		-		4		33		-		-
Termap		-		-		-		-		2		-		-
GPA		-		-		-		-		2		-		-
OTAMERICA		46		-		1		1		3		-		-
Gas Austral		-		-		-		-		-		-		-
VMOS		-		16		53		-		-		44		-
		200		29		65		5		41		44		-
		200		36		104		9		77		44		3
(1)	See Note 3 to the annual consolidated financial statements.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

37. BALANCES AND TRANSACTIONS WITH RELATED PARTIES (cont.)

The table below presents the transactions with associates and joint ventures for the three-month periods ended March 31, 2026 and 2025:

	For the three-month period ended March 31,
	2026						2025
	Revenues		Costs andexpenses		Net interestincome (loss)		Revenues		Costs andexpenses		Net interestincome (loss)
Joint Ventures:
YPF EE		4		31		-		5		35		-
Profertil ^(1)^		-		-		-		17		15		-
MEGA		68		16		-		85		1		-
Refinor ^(1)^		-		-		-		16		2		-
OLCLP ^(1)^		-		-		-		-		3		-
CT Barragán		-		-		-		-		-		-
OTA		-		4		-		-		6		-
		72		51		-		123		62		-
Associates:
CDS		7		-		-		-		-		-
YPF Gas		16		-		1		19		1		-
Oldelval		-		35		-		-		18		-
Termap		-		5		-		-		6		-
GPA		-		6		-		-		6		-
OTAMERICA		-		9		-		-		6		-
Gas Austral		1		-		-		1		-		-
VMOS		51		-		-		4		-		-
		75		55		1		24		37		-
		147		106		1		147		99		-
(1)	See Note 3 to the annual consolidated financial statements
---	---

Additionally, in the normal course of business and considering being the main energy group of Argentina, the Group’s clients and suppliers portfolio encompasses both private sector as well as national public sector entities. As required by IAS 24 “Related party disclosures”, among the major transactions above mentioned the most important are:

		Balances ^(15)^				Transactions
		Receivables / (Liabilities)				Income / (Costs)
		March 31,2026		December 31,2025		For the three-month periods endedMarch 31,
Client / Suppliers	Ref.				2026			2025
SE	(1) (14)		31		41		2		6
SE	(2) (14)		-		1		-		1
SE	(3) (14)		-		-		-		-
SE	(4) (14)		3		4		1		1
SE	(5) (14)		5		5		-		-
Secretary of Transport	(6) (14)		4		4		-		-
Secretary of Industry	(7) (14)		-		-		-		-
CAMMESA	(8)		114		87		125		134
CAMMESA	(9)		(1)		(1)		(4)		(1)
ENARSA	(10)		69		127		20		24
ENARSA	(11)		(34)		(33)		(2)		(3)
Aerolíneas Argentinas S.A.	(12)		29		33		75		80
Aerolíneas Argentinas S.A.	(13)		-		-		-		-
(1)	Benefits for the Plan GasAr 2020-2024 and Plan GasAr 2023-2028, see Note 35.f.1) to the annual consolidated financial<br>statements.
---	---
(2)	Benefits for the propane gas supply agreement for undiluted propane gas distribution networks, see Note 35.f.2)<br>“Propane Network Agreement“ section to the annual consolidated financial statements.
---	---
(3)	Benefits for the recognition of the financial cost generated by payment deferral by providers of the distribution service<br>of natural gas and undiluted propane gas through networks, see Note 36 to the annual consolidated financial statements.
---	---
(4)	Compensation for the lower income that natural gas distribution services by companies receive from their users, see Note<br>35.c.3) to the annual consolidated financial statements.
---	---
(5)	Compensation by Decree No. 1,053/2018, see Note 35.c.1) to the annual consolidated financial statements.<br>
---	---
(6)	Compensation for providing diesel to public transport of passengers at a differential price, see Note 36 to the annual<br>consolidated financial statements.
---	---
(7)	Incentive for domestic manufacturing of capital goods, for the benefit of AESA, see Note 36 to the annual consolidated<br>financial statements.
---	---
(8)	Sales of fuel oil, diesel, natural gas and transportation and distribution services.
---	---
(9)	Purchases of electrical energy.
---	---
(10)	Sales of natural gas and provision of regasification service of LNG and construction inspection service.<br>
---	---
(11)	Purchases of natural gas and crude oil.
---	---
(12)	Sales of jet fuel.
---	---
(13)	Purchases of miles for YPF Serviclub Program and publicity expenses.
---	---
(14)	Income from incentives recognized according to IAS 20, see Note 2.b.12) “Income from Government incentive<br>programs” section to the annual consolidated financial statements.
---	---
(15)	Do not include, if applicable, the provision for doubtful trade receivables.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

37. BALANCES AND TRANSACTIONS WITH RELATED PARTIES (cont.)

Additionally, the Group has entered into certain financing and insurance transactions with entities related to the national public sector. Such transactions consist of certain financial transactions that are described in Notes 16, 17 and 23 and transactions with Nación Seguros S.A. related to certain insurance policies contracts.

As of March 31, 2026, the Group holds Bonds of the Argentine Republic 2029 and 2030, Government Bonds and BCRA bonds (BOPREAL, for its acronym in spanish) identified as investments in financial assets (see Note 16).

In addition, in connection with the investment agreement signed between YPF and subsidiaries of Chevron Corporation, YPF has an indirect non-controlling interest in Compañía de Hidrocarburo No Convencional S.R.L. (“CHNC”). During the three-month periods ended March 31, 2026 and 2025, YPF and CHNC carried out transactions such as the purchases of crude oil by YPF for 22 and 133, respectively, among others. These transactions were consummated in accordance with the general and regulatory conditions of the market. As a result, as of March 31, 2026, YPF has a net balance receivable from CHNC of 1 and as of December 31, 2025 the net balance payable to CHNC amounted to 53. See Note 36 to the annual consolidated financial statements.

The table below presents the accrued compensation for the YPF’s key management personnel, including members of the Board of Directors and first-line executives, managers with executive functions appointed by the Board of Directors, for the three-month periods ended March 31, 2026 and 2025:

	For the three-month periods ended March 31,
	2026		2025
Short-term benefits ^(1)^		8		6
Share-based benefits ^(2)^		31		3
Post-retirement benefits		-		-
		39		9
(1)	Does not include social security contributions of 2 and 1 for the three-month periods ended March 31, 2026 and 2025,<br>respectively.
---	---
(2)	Include Value Generation Plan, see Note 38 and Note 37 to the annual consolidated financial statements.<br>
---	---
38.	EMPLOYEE BENEFIT PLANS AND SIMILAR OBLIGATIONS
---	---

Note 37 to the annual consolidated financial statements describes the main characteristics and accounting treatment for employee benefit plans and similar obligations implemented by the Group.

Retirement plan

The amount charged to expense related to the Retirement Plan was 1 and 1 for the three-month periods ended March 31, 2026 and 2025, respectively.

Short-term benefit programs

The amount charged to expense related to the short-term benefit programs was 36 and 38 for the three-month periods ended March 31, 2026 and 2025 respectively.

Share-based benefit plans

As of March 31, 2026, there are 4.6 million number of PSARs outstanding with and a weighted average fair value of US$ 29.95 per PSARs. The charge to income related to the Value Creation Plan was a loss of 37 and a recovery of 1, for the three-month periods ended March 31, 2026 and 2025, respectively. As of December 31, 2025, weighted average fair value was US$ 20.84 per PSARs.

The amount charged to expense in relation with the remaining share-based benefit plans was 3 and 2 to be settled in equity instruments, for the three-month periods ended March 31, 2026 and 2025, respectively.

Note 2.b.11) to the annual consolidated financial statements describes the accounting policies for share-based benefit plans. Repurchases of treasury shares are disclosed in Note 32.

HORACIO DANIEL MARÍN<br><br><br>President

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, or as otherwise indicated)

39. SUBSEQUENT EVENTS

Issuance of ON

On April 14, 2026, the Company issued in the local market Class XLIII NO denominated and payable in U.S. dollars for a nominal amount of 120, maturing in April 2030 and semi-annual interest payments at a fixed nominal annual rate of 5.5% from the ninth month.

Stock split on YPF’s ordinary shares

On April 30, 2026, the General Shareholders’ Meeting approved the modification of the nominal value of the Company’s shares from $10 (ten pesos) to $1 (one peso) per share, which means that for every share with a nominal value of $10 currently outstanding, 10 shares with a nominal value of $1 each will be issued, while the Company’s capital stock remains unchanged (“Split”). Likewise, the Split does not imply a change in the proportion of each shareholder’s equity interest, but only in the number of shares outstanding and their nominal value per share. The Split will also not alter the economic or voting rights of the shareholders.

As of the date of issuance of these condensed interim consolidated financial statements, there have been no other material subsequent events additional to those mentioned in notes whose effect on Group’s financial position, results of operations or their disclosure in notes to the financial statements for the period ended as of March 31, 2026, should have been considered in said financial statements under IFRS.

These condensed interim consolidated financial statements were approved by the Board of Directors’ meeting and authorized to be issued on May 7, 2026.

HORACIO DANIEL MARÍN<br><br><br>President

LOGO

YPF SOCIEDAD ANONIMA

CONDENSED INTERIM CONSOLIDATED

FINANCIALSTATEMENTS AS OF MARCH 31, 2026

AND COMPARATIVE INFORMATION (UNAUDITED)

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br><br><br>CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OFMARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)

CONTENT

Note	Description	Page
	Glossary of terms	1
	Legal information	2
	Condensed interim consolidated statements of financial position	3
	Condensed interim consolidated statements of comprehensive income	4
	Condensed interim consolidated statements of changes in shareholders’<br>equity	5
	Condensed interim consolidated statements of cash flows	7
	Notes to the condensed interim consolidated financial statements:
1	General information, structure and organization of the Group’s business	8
2	Basis of preparation of the condensed interim consolidated financial statements	9
3	Seasonality of operations	10
4	Acquisitions and disposals	10
5	Financial risk management	10
6	Business segment information	11
7	Financial instruments by category	15
8	Intangible assets	15
9	Property, plant and equipment	16
10	Right-of-use assets	20
11	Investments in associates and joint ventures	20
12	Assets held for sale and associated liabilities	21
13	Inventories	22
14	Other receivables	23
15	Trade receivables	23
16	Investments in financial assets	23
17	Cash and cash equivalents	24
18	Provisions	24
19	Income tax	24
20	Taxes payable	25
21	Salaries and social security	25
22	Lease liabilities	25
23	Loans	26
24	Other liabilities	28
25	Accounts payable	28
26	Revenues	28
27	Costs	30
28	Expenses by nature	31
29	Other net operating results	32
30	Net financial results	32
31	Investments in joint operations and consortiums	32
32	Shareholders’ equity	33
33	Earnings per share	33
34	Contingent assets and liabilities	33
35	Contractual commitments	34
36	Main regulations	34
37	Balances and transactions with related parties	36
38	Employee benefit plans and similar obligations	38
39	Assets and liabilities in currencies other than the peso	39
40	Subsequent events	40

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>CONDENSED INTERIMCONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)

GLOSSARY OF TERMS

Term	Definition
ADR	American Depositary Receipt
ADS	American Depositary Share
AESA	A-Evangelista S.A.
AFIP	Argentine Tax Authority (Administración Federal de Ingresos Públicos)
ANSES	National Administration of Social Security (Administración Nacional de la Seguridad Social)
ARCA	Collection Customs and Control Agency (Agencia de Recaudación y Control Aduanero) (formerly “AFIP”)
Argentina LNG	Argentina LNG S.A.U.
Associate	Company over which YPF has significant influence as provided for in IAS 28 “Investments in associates and joint ventures”
BCRA	Central Bank of the Argentine Republic (Banco Central de la República Argentina)
BNA	Bank of the Argentine Nation (Banco de la Nación Argentina)
BO	Official Gazette of the Argentine Republic (Boletín Oficial de la República Argentina)
CAMMESA	Compañía Administradora del Mercado Mayorista Eléctrico S.A.
CAN	Northern Argentine basin (cuenca Argentina Norte)
CDS	Central Dock Sud S.A.
CENCH	Hydrocarbon Unconventional Exploitation Concessions
CGU	Cash-generating unit
CNDC	Argentine Antitrust Authority (Comisión Nacional de Defensa de la Competencia)
CNV	Argentine Securities Commission (Comisión Nacional de Valores)
CSJN	Argentine Supreme Court of Justice (Corte Suprema de Justicia de la Nación Argentina)
CT Barragán	CT Barragán S.A.
Eleran	Eleran Inversiones 2011 S.A.U.
ENARGAS	Argentine Gas Regulator (Ente Nacional Regulador del Gas)
ENARSA	Energía Argentina S.A. (formerly Integración Energética Argentina S.A., “IEASA”)
ENRE	National Electricity Regulatory Agency
FOB	Free on board
Gas Austral	Gas Austral S.A.
GPA	Gasoducto del Pacífico (Argentina) S.A.
Group	YPF and its subsidiaries
IAS	International Accounting Standard
IASB	International Accounting Standards Board
IFRIC	IFRS Interpretations Committe
IFRS	IFRS Accounting Standards
INDEC	National Institute of Statistics and Census (Instituto Nacional de Estadística y Censos)
IPC	Consumer Price Index (Índice de Precios al Consumidor) published by INDEC
JO	Joint operation (Unión Transitoria)
Joint venture	Company jointly owned by YPF as provided for in IFRS 11 “Joint arrangements”
LGS	General Corporations Law (Ley General de Sociedades) No. 19,550
LNG	Liquefied natural gas
LPG	Liquefied petroleum gas
MEGA	Compañía Mega S.A.
Metroenergía	Metroenergía S.A.
Metrogas	Metrogas S.A.
MINEM	Ministry of Energy and Mining (Ministerio de Energía y Minería)
MLO	West Malvinas basin (cuenca Malvinas Oeste)
MTN	Medium-term note
NO	Negotiable obligations
OLCLP	Oleoducto Loma Campana - Lago Pellegrini S.A.U.
Oldelval	Oleoductos del Valle S.A.
OPESSA	Operadora de Estaciones de Servicios S.A.
OTA	OleoductoTrasandino (Argentina) S.A.
OTAMERICA	OTAMERICA Ebytem S.A.
OTC	OleoductoTrasandino (Chile) S.A.
PEN	National Executive Branch (Poder Ejecutivo Nacional)
Peso	Argentine peso
PIST	Transportation system entry point (Punto de ingreso al sistema de transporte)
Profertil	Profertil S.A.
PSAR	Performance stock appreciation rights
Refinor	Refinería del Norte S.A.
RQT	Quinquennial Tariff Review (Revisión Quinquenal Tarifaria)
RTI	Integral Tariff Review (Revisión Tarifaria Integral)
RTT	Transitional Tariff Regime (Régimen Tarifario de Transición)
SC Gas	SC Gas S.A.U.
SE	Secretariat of Energy (Secretaría de Energía) (formerly “MINEM” and “SGE”)
SEC	U.S. Securities and Exchange Commission
SEE	Secretariat of Electric Energy (Secretaría de Energía Eléctrica)
SGE	Government Secretariat of Energy (Secretaría de Gobierno de Energía)
SRH	Hydrocarbon Resources Secretariat (Secretaría de Recursos Hidrocarburíferos)
SSHyC	Under-Secretariat of Hydrocarbons and Fuels (Subsecretaría de Hidrocarburos y Combustibles)
Subsidiary	Company controlled by YPF as provided for in IFRS 10 “Consolidated financial statements”
Sur Inversiones Energéticas	Sur Inversiones Energéticas S.A.U.
Sustentator	Sustentator S.A.
Termap	Terminales Marítimas Patagónicas S.A.
Turnover tax	Impuesto a los ingresos brutos
U.S. dollar	United States dollar
UNG	Unaccounted natural gas
US$	United States dollar
US$/bbl	U.S. dollar per barrel
UVA	Unit of Purchasing Power
VAT	Value added tax
VMI	Vaca Muerta Inversiones S.A.U.
VMOS	VMOS S.A.
WEM	Wholesale Electricity Market
YPF Chile	YPF Chile S.A.
YPF EE	YPF Energía Eléctrica S.A.
YPF Gas	YPF Gas S.A.
YPF or the Company	YPF S.A.
YPF Ventures	YPF Ventures S.A.U.
Y-TEC	YPF Tecnología S.A.
Y-LUZ	Y-LUZ Inversora S.A.U. controlled by YPF EE

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>CONDENSED INTERIMCONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)

LEGAL INFORMATION

Legal address

Macacha Güemes 515 - Ciudad Autónoma de Buenos Aires, Argentina.

Fiscal year

No. 50 beginning on January 1, 2026.

Main business of the Company

Filing with the Public Registry of Commerce

Duration of the Company

Through June 15, 2093.

Last amendment to the Bylaws

Capital structure

393,312,793 shares of common stock, $10 par value and 1 vote per share.

Subscribed, paid-in and authorized for stock exchange listing (in pesos)

3,933,127,930.

HORACIO DANIEL MARÍN<br><br><br>President

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION<br> <br>AS OF MARCH 31, 2026 AND DECEMBER 31, 2025 (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos)

		March 31,2026			December 31,2025
ASSETS
Non-current assets
Intangible assets	8		1,478,362			1,548,809
Property, plant and equipment	9		26,940,626			27,682,554
Right-of-use assets	10		838,745			779,202
Investments in associates and joint ventures	11		2,365,104			2,334,746
Deferred income tax assets, net	19		56,478			13,055
Other receivables	14		875,961			940,204
Trade receivables	15		8,707			7,497
Total non-current assets		****	32,563,983	****	****	33,306,067	****
Current assets
Assets held for sale	12		1,318,789			1,479,221
Inventories	13		2,011,757			2,098,590
Contract assets	26		7,232			4,522
Other receivables	14		1,128,959			1,681,800
Trade receivables	15		2,456,372			2,399,905
Investments in financial assets	16		504,765			380,569
Cash and cash equivalents	17		1,825,751			1,352,703
Total current assets		****	9,253,625	****	****	9,397,310	****
TOTAL ASSETS		****	41,817,608	****	****	42,703,377	****
SHAREHOLDERS’ EQUITY
Capital			3,921			3,921
Adjustment to capital			6,081			6,081
Treasury shares			12			12
Adjustment to treasury shares			20			20
Share-based benefit plans			14,020			9,323
Acquisition cost of treasury shares			(34,414	)		(34,274	)
Share trading premiums			13,912			13,707
Issuance premiums			640			640
Legal reserve			1,083,622			1,141,047
Reserve for investments			9,072,843			9,553,655
Reserve for purchase of treasury shares			45,723			48,146
Other comprehensive income			5,934,760			6,039,399
Unappropriated retained earnings and losses			(485,606	)		(1,096,460	)
Shareholders’ equity attributable to shareholders of the parent company		****	15,655,534	****	****	15,685,217	****
Non-controlling interest			370,984			333,766
TOTAL SHAREHOLDERS’ EQUITY		****	16,026,518	****	****	16,018,983	****
LIABILITIES
Non-current liabilities
Provisions	18		880,641			884,901
Contract liabilities	26		291,460			261,205
Deferred income tax liabilities, net	19		703,603			541,035
Income tax liability			1,192,977			1,204,132
Taxes payable	20		26,832			26,749
Salaries and social security	21		135,244			90,400
Lease liabilities	22		457,557			396,386
Loans	23		11,745,180			11,931,848
Other liabilities	24		477,053			541,608
Accounts payable	25		8,013			8,404
Total non-current liabilities		****	15,918,560	****	****	15,886,668	****
Current liabilities
Liabilities directly associated with assets held for sale	12		1,459,695			1,713,545
Provisions	18		342,003			332,986
Contract liabilities	26		199,670			169,937
Income tax liability			266,278			105,232
Taxes payable	20		482,453			315,457
Salaries and social security	21		511,267			486,905
Lease liabilities	22		424,017			432,437
Loans	23		2,190,533			3,415,028
Other liabilities	24		735,438			580,311
Accounts payable	25		3,261,176			3,245,888
Total current liabilities		****	9,872,530	****	****	10,797,726	****
TOTAL LIABILITIES		****	25,791,090	****	****	26,684,394	****
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		****	41,817,608	****	****	42,703,377	****

Accompanying notes are an integral part of these condensed interim consolidated financial statements.

HORACIO DANIEL MARÍN<br><br><br>President

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME<br> <br>FOR THE THREE MONTH PERIODS ENDED MARCH 31, 2026 (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except per share information expressed in Argentine pesos)

			For the three-monthperiods ended March 31,
	Notes		2026			2025
Net income
Revenues		26		6,956,434			4,870,820
Costs		27		(4,478,072	)		(3,506,382	)
Gross profit			****	2,478,362	****	****	1,364,438	****
Selling expenses		28		(688,015	)		(528,861	)
Administrative expenses		28		(413,461	)		(268,976	)
Exploration expenses		28		(27,517	)		(32,495	)
Other net operating results		29		(107,510	)		(342,297	)
Operating profit			****	1,241,859	****	****	191,809	****
Income from equity interests in associates and joint ventures		11		166,345			86,034
Financial income		30		46,428			17,677
Financial costs		30		(422,202	)		(296,717	)
Other financial results		30		(77,696	)		28,947
Net financial results		30		(453,470	)		(250,093	)
Net profit before income tax			****	954,734	****	****	27,750	****
Income tax		19		(342,873	)		(40,720	)
Net profit / (loss) for the period			****	611,861	****	****	(12,970	)
Other comprehensive income
Items that may be reclassified subsequently to profit or loss:
Translation effect from subsidiaries, associates and joint ventures				69,617			(40,032	)
Result from net monetary position in subsidiaries, associates and joint ventures^(1)^				161,540			98,348
Items that may not be reclassified subsequently to profit or loss:
Translation differences from YPF ^(2)^				(840,245	)		492,110
Other comprehensive income for the period				(609,088	)		550,426
Total comprehensive income for the period			****	2,773	****	****	537,456	****
Net profit / (loss) for the period attributable to:
Shareholders of the parent company				606,289			(19,864	)
Non-controlling interest				5,572			6,894
Other comprehensive income for the period attributable to:
Shareholders of the parent company				(640,734	)		531,518
Non-controlling interest				31,646			18,908
Total comprehensive income for the period attributable to:
Shareholders of the parent company				(34,445	)		511,654
Non-controlling interest				37,218			25,802
Earnings per share attributable to shareholders of the parent company:
Basic and diluted		33		1,546.33			(50.65	)
(1)	Results generated by subsidiaries, associates and joint ventures with the peso as functional currency, see Note 2.b.1) to<br>the annual consolidated financial statements.
---	---
(2)	Correspond to the effect of the translation to YPF´s presentation currency, see Note 2.b.1).
---	---

Accompanying notes are an integral part of these condensed interim consolidated financial statements.

HORACIO DANIEL MARÍN<br><br><br>President

	5
English translation of the condensed interim consolidated financial<br>statements originally filed in Spanish with the CNV.<br> <br>In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over<br>this translation.<br> <br><br> <br>YPF SOCIEDAD ANONIMA<br><br><br>CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY<br><br><br>FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2026 AND 2025 (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos)
	For the three-month period ended March 31, 2026
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Shareholders’ contributions																		Retained earnings^(4)^															Equity attributable to
	Capital		Adjustmentto capital		Treasuryshares		Adjustmentto capital		Share-basedbenefitplans			Acquisitioncost oftreasuryshares ^(2)^			Sharetradingpremiums		Issuancepremiums		Legalreserve			Reserve forinvestments			Reserveforpurchaseoftreasuryshares			Othercomprehensiveincome			Unappropriatedretainedearnings andlosses			Shareholdersof the parentcompany			Non-controllinginterest		Totalshareholders’equity
Balance at the beginning of the fiscal year		3,921		6,081		12		20		9,323			(34,274	)		13,707		640		1,141,047			9,553,655			48,146			6,039,399			(1,096,460	)		15,685,217			333,766		16,018,983
Accrual of share-based benefit plans^(3)^		-		-		-		-		4,921			-			-		-		-			-			-			-			-			4,921			-		4,921
Settlement of share-based benefit plans		-		-		-		-		(224	)		(140	)		205		-		-			-			-			-			-			(159	)		-		(159	)
Other comprehensive income		-		-		-		-		-			-			-		-		(57,425	)		(480,812	)		(2,423	)		(104,639	)		4,565			(640,734	)		31,646		(609,088	)
Net profit for the period		-		-		-		-		-			-			-		-		-			-			-			-			606,289			606,289			5,572		611,861
Balance as of March 31, 2026		3,921		6,081		12		20		14,020			(34,414	)		13,912		640		1,083,622			9,072,843			45,723			5,934,760	^(1)^		(485,606	)		15,655,534			370,984		16,026,518
(1) Includes 6,200,026 related to the effect of the translation of the shareholders’<br>contributions (see Note 36 “Effect of the translation of the shareholders’ contributions” section). (3,168,260) related to the effect of the translation of the financial statements of investments in subsidiaries, associates and<br>joint ventures with functional currencies other than the U.S. dollar, and 2,902,994 related to the recognition of the result from net monetary position of subsidiaries, associates and joint ventures with the peso as functional currency. See Notes<br>2.b.1) and 2.b.10) to the annual consolidated financial statements.
---
(2) Net of employees’ income tax withholding related to the share-based benefit<br>plans.
(3) See Note 38.
(4) Includes 48,825 and 51,423 restricted to the distribution of retained earnings as of March<br>31, 2026, and December 2025, respectively. See Note 31 to the annual consolidated financial statements.

HORACIO DANIEL MARÍN

President

	6
English translation of the condensed interim consolidated financial<br>statements originally filed in Spanish with the CNV.<br> <br>In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over<br>this translation.<br> <br><br> <br>YPF SOCIEDAD ANONIMA<br><br><br>CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY<br><br><br>FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2026 AND 2025 (UNAUDITED) (cont.)<br><br><br>(Amounts expressed in millions of Argentine pesos)
	For the three-month period ended March 31, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Shareholders’ contributions																		Retained earnings ^(4)^												Equity attributable to
	Capital		Adjustmentto capital		Treasuryshares		Adjustmentto capital		Share-basedbenefit plans			Acquisitioncost oftreasury shares ^(2)^			Sharetradingpremiums		Issuancepremiums		Legalreserve		Reserve forinvestments		Reserve forpurchase oftreasury shares		Othercomprehensiveincome			Unappropriatedretainedearnings andlosses			Shareholdersof the parentcompany			Non-controllinginterest		Totalshareholders’equity
Balance at the beginning of the fiscal year		3,922		6,083		11		18		3,563			(9,655	)		2,546		640		810,651		4,365,198		36,708		4,296,133			2,491,779			12,007,597			224,363		12,231,960
Accrual of share-based benefit plans ^(3)^		-		-		-		-		2,770			-			-		-		-		-		-		-			-			2,770			-		2,770
Settlement of share-based benefit plans		-		-		-		-		(54	)		(65	)		44		-		-		-		-		-			-			(75	)		-		(75	)
Other comprehensive income		-		-		-		-		-			-			-		-		33,040		177,912		1,496		224,401			94,669			531,518			18,908		550,426
Net (loss) / profit for the period		-		-		-		-		-			-			-		-		-		-		-		-			(19,864	)		(19,864	)		6,894		(12,970	)
Balance as of March 31, 2025		3,922		6,083		11		18		6,279			(9,720	)		2,590		640		843,691		4,543,110		38,204		4,520,534	^(1)^		2,566,584			12,521,946			250,165		12,772,111
(1) Includes 4,825,541 related to the effect of the translation of the shareholders’<br>contributions (see Note 36 “Effect of the translation of the shareholders’ contributions” section). (2,149,854) related to the effect of the translation of the financial statements of investments in subsidiaries, associates and<br>joint ventures with functional currencies other than the U.S. dollar, and 1,844,847 related to the recognition of the result from net monetary position of subsidiaries, associates and joint ventures with the peso as functional currency. See Notes<br>2.b.1) and 2.b.10) to the annual consolidated financial statements.
---
(2) Net of employees’ income tax withholding related to the share-based benefit<br>plans.
(3) See Note 38.
(4) Includes 75,099 and 72,137 restricted to the distribution of retained earnings as of<br>March 31, 2025 and December 31, 2024, respectively. See Note 31 to the annual consolidated financial statements.

Accompanying notes are an integral part of these condensed interim consolidated financial statements.

HORACIO DANIEL MARÍN

President

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW<br> <br>FOR THE THREE-MONTH PERIODS ENDED MARCH 31, 2026 AND 2025 (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos)
	For the three-month periods endedMarch 31,
---	---	---	---	---	---	---
	2026			2025
Cash flows from operating activities
Net profit / (loss)		611,861			(12,970	)
Adjustments to reconcile net profit to cash flows provided by operating activities:
Income from equity interests in associates and joint ventures		(166,345	)		(86,034	)
Depreciation of property, plant and equipment		921,680			757,677
Amortization of intangible assets		23,711			15,249
Depreciation of right-of-use<br>assets		101,971			77,536
Retirement of property, plant and equipment and intangible assets and consumption of materials		75,417			104,639
Charge on income tax		342,873			40,720
Net increase in provisions		143,009			278,736
Effect of changes in exchange rates, interest and others		437,179			237,255
Share-based benefit plans		4,921			2,770
Result from sale of assets		(5,475	)		(15,042	)
Result from changes in fair value of assets held for sale		(19,979	)		214,500
Changes in assets and liabilities:
Trade receivables		(85,404	)		(26,840	)
Other receivables		(24,771	)		(208,368	)
Inventories		(8,212	)		(71,353	)
Accounts payable		147,793			(316,130	)
Taxes payable		171,204			(15,339	)
Salaries and social security		82,838			33,351
Other liabilities		(129,212	)		(109,306	)
Decrease in provisions due to payment/use		(35,580	)		(62,159	)
Contract assets		(2,710	)		4,845
Contract liabilities		71,735			60,475
Proceeds from collection of profit loss insurance		-			1,474
Income tax payments		(34,140	)		(9,269	)
Net cash flows from operating activities ^(1)(2)^	****	2,624,364	****	****	896,417	****
Investing activities: ^(3)^
Acquisition of property, plant and equipment and intangible assets		(1,530,062	)		(1,279,802	)
Additions of assets held for sale		(4,522	)		(34,607	)
Contributions and acquisitions of interests in associates and joint ventures		(48,892	)		(74,621	)
Acquisitions from business combinations net of cash and cash equivalents		-			(256,152	)
Proceeds from sales of financial assets		70,164			101,514
Payments from purchase of financial assets		(201,963	)		-
Interests received from financial assets		1,254			1,421
Proceeds from concessions, assignment agreements and sale of assets		739,624			75,669
Net cash flows used in investing activities	****	(974,397	)	****	(1,466,578	)
Financing activities: ^(3)^
Payments of loans		(1,674,053	)		(1,144,695	)
Payments of interests		(364,107	)		(232,177	)
Proceeds from loans		1,081,404			1,854,108
Account overdrafts, net		(4,719	)		-
Payments of leases		(134,990	)		(110,201	)
Payments of interests in relation to income tax		(38,971	)		(459	)
Net cash flows (used in) / from financing activities	****	(1,135,436	)	****	366,576	****
Effect of changes in exchange rates on cash and cash equivalents	****	(41,483	)	****	58,698	****
Increase / (Decrease) in cash and cash equivalents	****	473,048	****	****	(144,887	)
Cash and cash equivalents at the beginning of the fiscal year		1,352,703			1,151,868
Cash and cash equivalents at the end of the period		1,825,751			1,006,981
Increase / Decrease in cash and cash equivalents	****	473,048	****	****	(144,887	)
(1)	Does not include the effect of changes in exchange rates generated by cash and cash equivalents, which is disclosed<br>separately in this statement.
---	---
(2)	Includes 27,504 and 32,376 for the three-month periods ended March 31, 2026 and 2025, respectively, for payments of<br>short-term leases and payments of the variable charge of leases related to the underlying asset use or performance.
---	---
(3)	The main investing and financing transactions that have not affected cash and cash equivalents correspond to:<br>
---	---
	For the three-month periods endedMarch 31,
---	---	---	---	---
	2026		2025
Unpaid acquisitions of property, plant and equipment and intangible assets		562,398		643,447
Unpaid additions of assets held for sale		1,423		5,217
Additions of right-of-use<br>assets		217,842		11,869
Capitalization of depreciation of<br>right-of-use assets		13,795		17,313
Capitalization of financial accretion for lease liabilities		1,306		2,896
Unpaid receivables from the sale of assets		533,093		-

Accompanying notes are an integral part of these condensed interim consolidated financial statements.

HORACIO DANIEL MARÍN<br><br><br>President

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

1. GENERAL INFORMATION, STRUCTURE AND ORGANIZATION OF THEGROUP’S BUSINESS

General information

Structure and organization of the Group’s business

As of March 31, 2026, the Group carries out its operations in accordance with the following structure:

-	Upstream
-	Midstream and Downstream
---	---
-	LNG and Integrated Gas
---	---
-	New Energies
---	---
-	Central Administration and Others
---	---

Activities covered by each business segment are detailed in Note 6. The following table presents the main companies of the Group as of March 31, 2026, by business segment:

Entity	Country			Relationship
Upstream
SC Gas	Argentina	Hydrocarbon exploitation	100%	Subsidiary
VMI	Argentina	Hydrocarbon exploitation	100%	Subsidiary
Midstream and Downstream
OPESSA	Argentina	Gas stations	99.99%	Subsidiary
Refinor	Argentina	Industrialization and commercialization of hydrocarbons	100%	Subsidiary
OTA	Argentina	Hydrocarbon transportation	36%	Joint venture
OTC	Chile	Hydrocarbon transportation	36%	Joint venture
Oldelval	Argentina	Hydrocarbon transportation	37%	Associate
OTAMERICA	Argentina	Hydrocarbon transportation	30%	Associate
Termap	Argentina	Hydrocarbon transportation	33.15%	Associate
VMOS ^(3)(5)^	Argentina	Hydrocarbon transportation	24.49%	Associate
YPF Gas	Argentina	Commercialization of LPG	33.99%	Associate
LNG and Integrated Gas
YPF Chile	Chile	Commercialization of natural gas	100%	Subsidiary
Argentina LNG	Argentina	Industrialization and commercialization of LNG	100%	Subsidiary
Sur Inversiones Energéticas	Argentina	Industrialization and commercialization of LNG through Southern<br>Energy S.A. associate	100%	Subsidiary
MEGA	Argentina	Separation of natural gas liquids and their fractionation	38%	Joint venture
New Energies
Metrogas^(2)^	Argentina	Distribution of natural gas	70%	Subsidiary
Metroenergía	Argentina	Commercialization of natural gas	71.50%	Subsidiary
Y-TEC	Argentina	Research and development of technology	51%	Subsidiary
YPF EE	Argentina	Generation of electric power	75%	Joint venture
CT Barragán	Argentina	Generation of electric power	50%	Joint venture
CDS ^(4)^	Argentina	Generation of electric power	10.25%	Associate
Central Administration and Others
AESA	Argentina	Engineering and construction services	100%	Subsidiary
YPF Digital	Argentina	Digital development services and solutions	100%	Subsidiary
(1)	Held directly by YPF and indirectly through its subsidiaries.
---	---
(2)	See Note 35.c.3) “Note from ENARGAS related to YPF’s equity interest in Metrogas” section to the annual<br>consolidated financial statements.
---	---
(3)	See Note 34.d) to the annual consolidated financial statements.
---	---
(4)	Additionally, the Group has a 22.36% indirect holding in capital stock through YPF EE.
---	---
(5)	On April 23, 2026, VMOS’s Shareholders’ Meeting approved an increase in the transportation capacity<br>available to YPF and Chevron Argentina S.R.L., which will result in an increase in YPF’s equity interest in VMOS. As of the date of issuance of these condensed interim consolidated financial statements, such increase is pending subscription<br>and payment. After the subscription and payment process is completed, YPF will hold a 29.82% interest in that company.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

2. BASIS OF PREPARATION OF THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

2.a) Applicable accounting framework

2.b) Material accounting policies

The material accounting policies are described in Note 2.b) to the annual consolidated financial statements.

Functional currency

As mentioned in Note 2.b.1) to the annual consolidated financial statements, YPF has defined the U.S. dollar as its functional currency.

Adoption of new standards, interpretations and amendments

In accordance with Article 1, Chapter III, Title IV of the CNV rules, the early application of the IFRS and/or their amendments is not permitted for issuers filing financial statements with the CNV, unless specifically admitted by such commission. **** Consequently, standards and interpretations issued by the IASB whose application is not mandatory at the closing date of these condensed interim consolidated financial statements have not been adopted by the Group.

2.c) Significant estimates and key sources of estimation uncertainty

2.d) Comparative information

HORACIO DANIEL MARÍN<br><br><br>President

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

3. SEASONALITY OF OPERATIONS

4. ACQUISITIONS AND DISPOSALS

The most relevant acquisitions and disposals of companies that took place during the three-month period ended March 31, 2026 are described below:

Asset exchange between YPF and Pluspetrol S.A. (“Pluspetrol”)

On January 22, 2026, the Company entered into an asset swap agreement with Pluspetrol (see Note 39 to the annual consolidated financial statements). On April 30, 2026, after the fulfillment of the closing conditions, the asset exchange agreement between YPF and Pluspetrol was completed, as a result of which YPF, which owned 50% of the rights and obligations in the “Aguada Villanueva,” “Las Tacanas,” and “Meseta Buena Esperanza” exploitation concessions prior to the aforementioned exchange, is the only owner of 100% of those concessions.

Acquisition of interest in the “Bandurria Sur,” “Bajo del Toro,” and “Bajo del Toro Norte” blocks

On February 1, 2026, YPF entered into agreements with Vista Energy S.A.B. de C.V. (“Vista”) for (i) the share purchase and sale agreement in Equinor Argentina S.A.U., the company that owns 30% of the “Bandurria Sur” exploitation concession, and (ii) the acquisition of a 15% interest in the “Bajo del Toro” and “Bajo del Toro Norte” exploitation concessions (see Note 39 to the consolidated annual financial statements).

5. FINANCIAL RISK MANAGEMENT

•	Liquidity risk management

The Group monitors compliance with covenants on a quarterly basis. As of March 31, 2026, the Group is in compliance with its covenants.

HORACIO DANIEL MARÍN<br><br><br>President

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

6. BUSINESS SEGMENT INFORMATION

Business segment information is presented consistently with the manner of reporting the information used by the chief decision maker to allocate resources and assess business segment performance.

The business segments structure is organized as follows:

•	Upstream

It performs all activities related to the exploration and exploitation of hydrocarbon fields and production of crude oil and natural gas.

It incurs all costs related to the aforementioned activities.

•	Midstream and Downstream

•	LNG and Integrated Gas

Its revenues are mainly derived from the sale of natural gas as producers to third parties and to the Midstream and Downstream and the New Energies business segments for our subsidiary Metrogas.

It incurs all costs related to the aforementioned activities, including the purchase of natural gas from the Upstream business segment.

HORACIO DANIEL MARÍN<br><br><br>President

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

6. BUSINESS SEGMENT INFORMATION (cont.)

•	New Energies

Its revenues are mainly derived from the sale and transportation and distribution of natural gas to third parties through our subsidiary Metrogas.

It incurs all costs related to the aforementioned activities, including the purchase of natural gas from the LNG and Integrated Gas business segment through our subsidiary Metrogas.

•	Central Administration and Others

Sales between business segments were made at internal transfer prices established by the Group, which approximately reflect domestic market prices.

Operating profit or loss and assets of each business segment have been determined after consolidation adjustments.

HORACIO DANIEL MARÍN<br><br><br>President

	13
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, and as otherwise indicated)
6.	BUSINESS SEGMENT INFORMATION (cont.)
---	---
																				In millions ofpesos
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Upstream			Midstream andDownstream		LNG andIntegrated Gas			New Energies		CentralAdministration andOthers			Consolidationadjustments ^(1)^			Total			Total
For the three-month period ended March 31, 2026
Revenues		33			4,212		304			203		194			-			4,946			6,956,434
Revenues from intersegment sales		1,988			45		67			3		265			(2,368	)		-			-
Revenues		2,021			4,257		371			206		459			(2,368	)		4,946			6,956,434
Operating profit or loss		616	^(3)^		1,085		(1	)		13		(170	)		(665	)		878			1,241,859
Income from equity interests in associates and joint ventures		-			9		17			75		-			-			101			166,345
Net financial results																		(327	)		(453,470	)
Net profit before income tax																		652			954,734
Income tax																		(243	)		(342,873	)
Net profit for the period																		409			611,861
Acquisitions of property, plant and equipment		828			169		18			9		12			-			1,036			1,435,473
Acquisitions of right-of-use<br>assets		105			54		-			-		-			-			159			217,842
Increases from business combinations		-			-		-			-		-			-			-			-
Other income statement items
Depreciation of property, plant and equipment<br>^(2)^		480			137		1			11		24			-			653			921,680
Amortization of intangible assets		-			9		-			3		5			-			17			23,711
Depreciation of right-of-use<br>assets		42			30		-			-		1			-			73			101,971
Balance as of March 31, 2026
Assets		13,578			12,019		746			2,320		2,513			(818	)		30,358			41,817,608
HORACIO DANIEL MARÍN<br><br><br>President
---

	14
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, and as otherwise indicated)
6.	BUSINESS SEGMENT INFORMATION (cont.)
---	---
																				In millions ofpesos
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Upstream			Midstream andDownstream		LNG andIntegrated Gas			NewEnergies		CentralAdministration andOthers			Consolidationadjustments ^(1)^			Total			Total
For the three-month period ended March 31, 2025
Revenues		18			3,868		333			189		200			-			4,608			4,870,820
Revenues from intersegment sales		2,049			62		67			3		282			(2,463	)		-			-
Revenues		2,067			3,930		400			192		482			(2,463	)		4,608			4,870,820
Operating profit or loss		(103	)		422		(5	)		24		(115	)		(31	)		192			191,809
Income from equity interests in associates and joint ventures		-			14		22			45		-			-			81			86,034
Net financial results																		(245	)		(250,093	)
Net profit before income tax																		28			27,750
Income tax																		(38	)		(40,720	)
Net loss for the period																		(10	)		(12,970	)
Acquisitions of property, plant and equipment		1,060			213		3			10		20			-			1,306			1,425,770
Acquisitions of right-of-use<br>assets		2			1		-			-		8			-			11			11,869
Increases from business combinations		262			-		-			-		-			-			262			275,624
Other income statement items
Depreciation of property, plant and equipment<br>^(2)^		561			125		1			10		21			-			718			757,677
Amortization of intangible assets		-			9		-			4		1			-			14			15,249
Depreciation of right-of-use<br>assets		41			31		-			-		2			-			74			77,536
Balance as of December 31, 2025
Assets		13,167			11,093		735			2,502		2,094			(152	)		29,439			42,703,377
(1)	Corresponds to the eliminations among the business segments of the Group.
---	---
(2)	Includes depreciation of charges for impairment of property, plant and equipment.
---	---
(3)	Includes US$ 9 millions of unproductive exploratory drillings as of March 31, 2026.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

7. FINANCIAL INSTRUMENTS BY CATEGORY

Fair value measurements

Fair value measurements are described in Note 6 to the annual consolidated financial statements.

	As of March 31, 2026
Financial assets	Level 1		Level 2		Level 3		Total
Investments in financial assets:
- Public securities		487,415		-		-		487,415
- Private securities - NO		17,350		-		-		17,350
		504,765		-		-		504,765
Cash and cash equivalents:
- Mutual funds		564,028		-		-		564,028
- Public securities		50,968		-		-		50,968
		614,996		-		-		614,996
		1,119,761		-		-		1,119,761
	As of December 31, 2025
Financial assets	Level 1		Level 2		Level 3		Total
Investments in financial assets:
- Public securities		360,622		-		-		360,622
- Private securities - NO		19,947		-		-		19,947
		380,569		-		-		380,569
Cash and cash equivalents:
- Mutual funds		554,227		-		-		554,227
- Public securities		34,812		-		-		34,812
		589,039		-		-		589,039
		969,608		-		-		969,608

The Group has no financial liabilities measured at fair value through profit or loss.

During the three-month period ended March 31, 2026, there were no transfers between the different hierarchies used to determine the fair value of the Group’s financial instruments.

Fair value of financial assets and financial liabilities measured at amortized cost

The estimated fair value of loans, considering unadjusted listed prices (Level 1) for NO and interest rates offered to the Group (Level 3) for the remaining loans, amounted to 13,690,087 and 15,514,096 as of March 31, 2026 and December 31, 2025, respectively.

The fair value of other receivables, trade receivables, cash and cash equivalents, other liabilities and accounts payable at amortized cost, do not differ significantly from their carrying amount.

8. INTANGIBLE ASSETS

	March 31, 2026
Net carrying amount of intangible assets		1,533,085		1,606,432
Provision for impairment of intangible assets<br>^(1)^		(54,723	)	(57,623	)
		1,478,362		1,548,809
(1)	Includes (2,900) and 16,685 corresponding to the conversion effect as of March 31, 2026 and December 31, 2025,<br>respectively.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

8. INTANGIBLE ASSETS (cont.)

The evolution of the Group’s intangible assets for the three-month period ended March 31, 2026 and as of the year ended December 31, 2025 is as follows:

	Service concessions
Cost		1,082,670		113,320		551,767		1,747,757
Accumulated amortization		753,429		-		447,563		1,200,992
Balance as of December 31, 2024		329,241		113,320		104,204		546,765
Cost
Increases		92,236		-		12,529		104,765
Increases from business combinations		-		759,941		-		759,941
Translation effect		456,262		107,049		187,306		750,617
Adjustment for inflation ^(1)^		-		-		34,598		34,598
Decreases, reclassifications and other movements		-		(57,196	)	34,934		(22,262	)
Accumulated amortization
Increases		34,237		-		46,335		80,572
Translation effect		312,637		-		156,503		469,140
Adjustment for inflation ^(1)^		-		-		22,323		22,323
Decreases, reclassifications and other movements		-		-		(4,043	)	(4,043	)
Cost		1,631,168		923,114		821,134		3,375,416
Accumulated amortization		1,100,303		-		668,681		1,768,984
Balance as of December 31, 2025		530,865		923,114		152,453		1,606,432
Cost
Increases		10,782		-		2,359		13,141
Increases from business combinations		-		-		-		-
Translation effect		(82,143	)	(46,459	)	(33,931	)	(162,533	)
Adjustment for inflation ^(1)^		-		-		14,414		14,414
Decreases, reclassifications and other movements		-		-		12,319		12,319
Accumulated amortization
Increases		9,363		-		14,348		23,711
Translation effect		(55,613	)	-		(27,991	)	(83,604	)
Adjustment for inflation ^(1)^		-		-		10,581		10,581
Decreases, reclassifications and other movements		-		-		-		-
Cost		1,559,807		876,655		816,295		3,252,757
Accumulated amortization		1,054,053		-		665,619		1,719,672
Balance as of March 31, 2026		505,754		876,655		150,676		1,533,085
(1)	Corresponds to the adjustment for inflation of opening balances of intangible assets of subsidiaries with the peso as<br>functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income.
---	---

9. PROPERTY, PLANT AND EQUIPMENT

	March 31, 2026			December 31, 2025
Net carrying amount of property, plant and equipment		28,070,685			28,902,606
Provision for obsolescence of materials and equipment		(662,676	)		(701,832	)
Provision for impairment of property, plant and equipment		(467,383	)		(518,220	)
	26,940,626			27,682,554
HORACIO DANIEL MARÍN<br><br><br>President
---

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION<br><br><br>(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise<br>indicated)

9. PROPERTY, PLANT AND EQUIPMENT (cont.)

Changes in Group’s property, plant and equipment for the three-month periods ended March 31, 2026 and as of the year ended December 31, 2025 are as follows:


Cost	1,397,768	29,380,502	9,616,896	750,211	1,606,015	6,255,923	60,235	921,363	1,614,157	1,417,617	983,516	54,004,203
Accumulated depreciation	733,891	23,011,806	6,420,236	389,498	-	-	-	825,928	1,073,276	730,457	769,479	33,954,571
Balance as of December 31, 2024	663,877	6,368,696	3,196,660	360,713	1,606,015	6,255,923	60,235	95,435	540,881	687,160	214,037	20,049,632
Cost
Increases	998	193,786	145,749	23,738	1,092,716	4,773,047	65,539	4,823	61	-	11,277	6,311,734
Increases from business combinations	15,846	217,829	73,466	110,066	62,572	55,125	-	-	-	-	-	534,904
Translation effect	460,776	12,769,595	4,011,197	303,398	567,419	2,229,359	9,263	351,490	666,855	-	256,368	21,625,720
Adjustment for inflation^(1)^	90,170	-	-	34,715	11,388	16,961	-	20,784	-	441,446	111,579	727,043
Decreases, reclassifications and other movements	(42,594)	(2,390,050)	749,629	242,878	(1,500,349)	(5,477,667)	(115,194)	30,459	45,237	57,912	(23,974)	(8,423,713)	^(2) (3)^
Accumulated depreciation
Increases	34,109	2,904,444	487,506	78,303	-	-	-	50,106	92,608	37,302	38,653	3,723,031
Translation effect	236,103	9,786,042	2,693,411	134,340	-	-	-	323,524	453,051	-	209,482	13,835,953
Adjustment for inflation^(1)^	49,029	-	-	21,358	-	-	-	14,160	-	227,464	81,617	393,628
Decreases, reclassifications and other movements	(36,193)	(5,901,506)	-	(38,374)	-	-	-	(13,262)	(997)	(1,517)	(38,049)	(6,029,898)	^(2) (3)^
Cost	1,922,964	40,171,662	14,596,937	1,465,006	1,839,761	7,852,748	19,843	1,328,919	2,326,310	1,916,975	1,338,766	74,779,891
Accumulated depreciation	1,016,939	29,800,786	9,601,153	585,125	-	-	-	1,200,456	1,617,938	993,706	1,061,182	45,877,285
Balance as of December 31, 2025	906,025	10,370,876	4,995,784	879,881	1,839,761	7,852,748	19,843	128,463	708,372	923,269	277,584	28,902,606
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

9. PROPERTY, PLANT AND EQUIPMENT (cont.)

	Land and<br>buildings
Cost		1,922,964	40,171,662	14,596,937	1,465,006	1,839,761	7,852,748	19,843	1,328,919	2,326,310	1,916,975	1,338,766	74,779,891
Accumulated depreciation		1,016,939	29,800,786	9,601,153	585,125	-	-	-	1,200,456	1,617,938	993,706	1,061,182	45,877,285
Balance as of December 31, 2025		906,025	10,370,876	4,995,784	879,881	1,839,761	7,852,748	19,843	128,463	708,372	923,269	277,584	28,902,606
Cost
Increases		353	-	5,528	1,197	274,601	1,146,247	2,514	1,549	-	-	3,484	1,435,473
Increases from business combinations		-	-	-	-	-	-	-	-	-	-	-	-
Translation effect		(77,677)	(2,053,470)	(751,873)	(67,178)	(88,546)	(353,261)	(1,116)	(62,358)	(118,070)	-	(42,729)	(3,616,278)
Adjustment for inflation^(1)^		35,572	-	-	14,858	4,537	4,158	-	8,693	-	175,570	45,154	288,542
Decreases, reclassifications and other movements		15,528	754,259	403,574	23,563	(251,584)	(1,061,386)	1,413	4,550	36,034	5,345	4,175	(64,529)
Accumulated depreciation
Increases		13,589	712,549	140,813	21,015	-	-	-	12,924	26,206	11,296	10,602	948,994
Translation effect		(40,681)	(1,517,206)	(486,712)	(26,373)	-	-	-	(57,490)	(82,060)	-	(35,132)	(2,245,654)
Adjustment for inflation^(1)^		19,826	-	-	8,999	-	-	-	5,968	-	89,623	33,542	157,958
Decreases, reclassifications and other movements		(516)	(4,606)	-	19,705	-	-	-	(3)	(244)	-	(505)	13,831
Cost		1,896,740	38,872,451	14,254,166	1,437,446	1,778,769	7,588,506	22,654	1,281,353	2,244,274	2,097,890	1,348,850	72,823,099
Accumulated depreciation		1,009,157	28,991,523	9,255,254	608,471	-	-	-	1,161,855	1,561,840	1,094,625	1,069,689	44,752,414
Balance as of March 31, 2026		887,583	9,880,928	4,998,912	828,975	1,778,769	7,588,506	22,654	119,498	682,434	1,003,265	279,161	28,070,685
(1)	Corresponds to the adjustment for inflation of opening balances of property, plant and equipment of subsidiaries with<br>the peso as functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income.
---	---
(2)	Includes 404,035 and 78,681 of cost and accumulated depreciation, respectively, of assets related to the “Aguada<br>del Chañar” exploitation concession reclassified to the “Assets held for sale” line item in the statement of financial position, see Note 11.b) to the annual consolidated financial statements
---	---
(3)	Includes 6,700,490 and 5,614,054 of cost and accumulated depreciation, respectively, of assets related<br>to the “Cerro Fortunoso”, “Valle del Río Grande” and “Manantiales Behr” exploitation concessions within the context of the Optimization plan of the conventional Upstream portfolio reclassified to the<br>“Assets held for sale” line item in the statement of financial position, see Note 11.a) to the annual consolidated financial statements.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

9. PROPERTY, PLANT AND EQUIPMENT (cont.)

Set forth present is the evolution of the provision for obsolescence of materials and equipment for the three-month period ended March 31, 2026 and as of the year ended December 31, 2025:

	Provision for obsolescence<br>of materials and equipment
Balance as of December 31, 2024		229,813
Increases charged to profit or loss		453,929
Decreases charged to profit or loss		(54,034)
Applications due to utilization		(25,858)
Translation effect		165,860
Adjustment for inflation^(1)^		1,463
Reclassifications		(69,341)
Balance as of December 31, 2025		701,832
Increases charged to profit or loss		174
Decreases charged to profit or loss		(11,425)
Applications due to utilization		(467)
Translation effect		(34,932)
Adjustment for inflation^(1)^		654
Reclassifications		6,840
Balance as of March 31, 2026		662,676
(1)	Corresponds to the adjustment for inflation of opening balances of the provision for obsolescence of materials and<br>equipment of subsidiaries with the peso as functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income.
---	---

Set forth present is the evolution of the provision for impairment of property, plant and equipment for the three-month period ended March 31, 2026 and as of the year ended December 31, 2025:

	Provision for impairment of<br>property, plant and<br>equipment
Balance as of December 31, 2024		512,396
Increases charged to profit or loss		3,503
Decreases charged to profit or loss		(10,107)
Depreciation^(1)^		(168,137)
Translation effect		175,215
Adjustment for inflation^(2)^		5,350
Balance as of December 31, 2025		518,220
Increases charged to profit or loss		-
Decreases charged to profit or loss		-
Depreciation^(1)^		(27,314)
Translation effect		(24,786)
Adjustment for inflation^(2)^		1,263
Balance as of March 31, 2026		467,383
(1)	Included in “Depreciation of property, plant and equipment” line item in the statement of comprehensive<br>income, see Note 28.
---	---
(2)	Corresponds to the adjustment for inflation of opening balances of the provision for impairment of property, plant and<br>equipment of subsidiaries with the peso as functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

10.RIGHT-OF-USE ASSETS

The evolution of the Group’s right-of-use assets for the three-month period ended March 31, 2026 and as of the year ended December 31, 2025 is as follows:

	Land and<br>buildings
Cost		54,305	584,830	631,922	116,145	693,712	2,080,914
Accumulated depreciation		32,896	517,392	294,406	69,119	401,858	1,315,671
Balance as of December 31, 2024		21,409	67,438	337,516	47,026	291,854	765,243
Cost
Increases		68	53,812	48,834	-	167,983	270,697
Translation effect		19,563	234,322	273,756	36,037	304,986	868,664
Adjustment for inflation ^(1)^		343	-	-	8,694	-	9,037
Decreases, reclassifications and other movements		(9,405)	(24,266)	(5,740)	-	(62,048)	(101,459)
Accumulated depreciation
Increases		6,816	41,657	137,915	14,579	223,316	424,283
Translation effect		13,881	218,278	150,048	21,368	202,146	605,721
Adjustment for inflation ^(1)^		341	-	-	6,758	-	7,099
Decreases, reclassifications and other movements		(1,119)	(2,634)	-	-	(370)	(4,123)
Cost		64,874	848,698	948,772	160,876	1,104,633	3,127,853
Accumulated depreciation		52,815	774,693	582,369	111,824	826,950	2,348,651
Balance as of December 31, 2025		12,059	74,005	366,403	49,052	277,683	779,202
Cost
Increases		28	143,027	26,630	-	48,157	217,842
Translation effect		(3,189)	(42,434)	(48,663)	(6,139)	(55,601)	(156,026)
Adjustment for inflation ^(1)^		138	-	-	3,409	-	3,547
Decreases, reclassifications and other movements		-	(25,872)	-	(11,576)	-	(37,448)
Accumulated depreciation
Increases		1,678	15,500	40,659	4,015	53,914	115,766
Translation effect		(2,625)	(39,115)	(31,275)	(4,088)	(42,993)	(120,096)
Adjustment for inflation ^(1)^		135	-	-	2,918	-	3,053
Decreases, reclassifications and other movements		-	(25,441)	-	(4,910)	-	(30,351)
Cost		61,851	923,419	926,739	146,570	1,097,189	3,155,768
Accumulated depreciation		52,003	725,637	591,753	109,759	837,871	2,317,023
Balance as of March 31, 2026		9,848	197,782	334,986	36,811	259,318	838,745
^(1)^	Corresponds to the adjustment for inflation of opening balances of right-of-use assets of subsidiaries with the peso as functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income.
---	---

11. INVESTMENTS IN ASSOCIATES AND JOINT VENTURES

The following table presents the value of the investments in associates and joint ventures at an aggregate level as of March 31, 2026 and December 31, 2025:


Amount of investments in associates	469,891	473,518
Amount of investments in joint ventures	1,895,213	1,861,228
	2,365,104	2,334,746
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

11. INVESTMENTS IN ASSOCIATES AND JOINT VENTURES (cont.)

The main concepts which affected the value of the aforementioned investments during the three-month period ended March 31, 2026 and as of the year ended December 31, 2025, correspond to:

	Investments in associates and joint ventures
Balance as of December 31, 2024		2,019,790
Acquisitions and contributions		113,669
Capitalization in associates and joint ventures		13,726
Income on investments in associates and joint ventures		149,044
Distributed dividends ^(4)^		(292,912)
Translation differences		773,380
Adjustment for inflation ^(1)^		25,562
Decrease of companies ^(2)^		(379,476)
Other movements ^(3)^		(88,037)
Balance as of December 31, 2025		2,334,746
Acquisitions and contributions		48,892
Capitalization in associates and joint ventures		-
Income on investments in associates and joint ventures		166,345
Distributed dividends		(53,727)
Translation differences		(141,729)
Adjustment for inflation ^(1)^		10,577
Decrease of companies		-
Other movements		-
Balance as of March 31, 2026		2,365,104
(1)	Corresponds to the adjustment for inflation of opening balances of associates and joint ventures with the peso as<br>functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income, see Note 2.b.1) to the annual consolidated financial statements.
---	---
(2)	Corresponds to the decrease due to the sale of Profertil, see Note 3 to the annual consolidated financial statements.<br>
---	---
(3)	Corresponds to the decrease in the OLCLP and Refinor joint ventures, see Note 3 to the annual consolidated financial<br>statements.
---	---
(4)	Includes 32,495 that were offset by trade liabilities.
---	---

	Associates				Joint ventures
	For the three-month periodsended March 31,				For the three-month periodsended March 31,
	2026		2025		2026		2025
Net income		35,785		10,437		130,560		75,597
Other comprehensive income		(34,583)		14,352		(96,569)		77,334
Comprehensive income		1,202		24,789		33,991		152,931

12. ASSETS HELD FOR SALE AND ASSOCIATED LIABILITIES

The following table presents the main assets held for sale and associated liabilities as of March 31, 2026 and December 31, 2025:

	Upstream		Midstream and Downstream		Total
Balance as of March 31, 2026
Assets held for sale
Property, plant and equipment - Optimization plan of the conventional Upstream portfolio		1,310,825		-		1,310,825
Property, plant and equipment - Gas stations		-		7,964		7,964
	****	1,310,825	****	7,964	****	1,318,789
Liabilities directly associated with assets held for sale
Provision for hydrocarbon wells abandonment obligations - Optimization plan of the conventional Upstream<br>portfolio		1,447,059		-		1,447,059
Provision for environmental liabilities - Optimization plan of the conventional Upstream<br>portfolio		6,816		-		6,816
Liabilities for concessions - Optimization plan of the conventional Upstream portfolio		5,820		-		5,820
	****	1,459,695	****	-	****	1,459,695
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

12. ASSETS HELD FOR SALE AND ASSOCIATED LIABILITIES (cont.)

	Upstream		Midstream and Downstream		Total
Balance as of December 31, 2025
Assets held for sale
Property, plant and equipment - Optimization plan of the conventional Upstream portfolio		1,470,346		-		1,470,346
Property, plant and equipment - Gas stations		-		8,875		8,875
	****	1,470,346	****	8,875	****	1,479,221
Liabilities directly associated with assets held for sale
Provision for hydrocarbon wells abandonment obligations - Optimization plan of the conventional Upstream<br>portfolio		1,700,516		-		1,700,516
Provision for environmental liabilities - Optimization plan of the conventional Upstream portfolio		6,817		-		6,817
Liabilities for concessions - Optimization plan of the conventional Upstream portfolio		6,212		-		6,212
	****	1,713,545	****	-	****	1,713,545

12.a) Optimization plan of the conventional Upstream portfolio

12.a.1) Description of the Plan

The Optimization plan of the conventional Upstream portfolio is described in Note 11.a.1) to the annual consolidated financial statements.

12.a.2) Accounting matters

In relation to the assignment and/or reversion agreements that have met the agreed closing conditions during the three-month period ended March 31, 2026, the Company recognized:

-	A gain from sale of assets in the “Other net operating results” line item in the statement of comprehensive<br>income of 5,475.
-	A gain from changes in the fair value of assets held for sale under “Other net operating results” line item in<br>the statement of comprehensive income of 19,979.
---	---
-	The derecognition of the carrying amount of the liabilities directly associated with assets held for sale net of the<br>assets held for sale of 130,324.
---	---

Likewise, the Company has committed to an optimization plan that involves operating efficiency measures related to the reduction of third party employees directly or indirectly affected to the operation of areas related to certain groups of assets held for disposal. For such concept, the Company recognized a loss for 98,773 in the “Provision for operating optimizations” line under “Other operating results, net” line item in the statement of comprehensive income.

13. INVENTORIES

	March 31, 2026
Finished goods		1,295,542		1,335,298
Crude oil and natural gas		517,377		569,719	^(2)^
Products in process		69,576		56,049
Raw materials, packaging materials and others		129,262		137,524
		2,011,757	^(1)^	2,098,590	^(1)^
(1)	As of March 31, 2026, and December 31, 2025, the carrying amount of inventories does not exceed their net<br>realizable value.
---	---
(2)	Includes 29,786 corresponding to the provision of inventories write-down as of December 31, 2025, respectively, see<br>Note 12 to the annual consolidated financial statements.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

14. OTHER RECEIVABLES

	March 31, 2026				December 31, 2025
	Non-current		Current		Non-current		Current
Receivables from services, sales of other assets and other advance payments		105,025		159,229		122,759		729,011	^(3)^
Tax credit and export rebates		116,800		138,118		97,201		143,490
Loans and balances with related parties ^(1)^		271,032		92,431		289,989		51,218
Collateral deposits		2		22,677		2		22,064
Prepaid expenses		61,164		112,649		69,395		56,750
Advances and loans to employees		586		9,401		578		9,296
Advances to suppliers and custom agents ^(2)^		10,372		72,272		9,118		130,073
Receivables with partners in JO and Consortiums		293,609		421,728		336,027		434,170
Miscellaneous		72,940		100,478		71,579		105,807
		931,530		1,128,983		996,648		1,681,879
Provision for other doubtful receivables		(55,569)		(24)		(56,444)		(79)
		875,961		1,128,959		940,204		1,681,800
(1)	See Note 37 for information about related parties.
---	---
(2)	Includes, among others, advances to custom agents for the payment of taxes and import rights related to the imports of<br>fuels and goods.
---	---
(3)	Includes receivable balances from the sale of Profertil, see Note 3 to the annual consolidated financial statements.<br>
---	---

15. TRADE RECEIVABLES

	March 31, 2026				December 31, 2025
	Non-current		Current		Non-current		Current
Accounts receivable and related parties ^(1) (2)^		18,495		2,565,349		17,285		2,507,770
Provision for doubtful trade receivables		(9,788)		(108,977)		(9,788)		(107,865)
		8,707		2,456,372		7,497		2,399,905
(1)	See Note 37 for information about related parties.
---	---
(2)	See Note 26 for information about credits for contracts included in trade receivables.
---	---

Set forth present is the evolution of the provision for doubtful trade receivables for the three-month period ended March 31, 2026 and for the fiscal year ended December 31, 2025:

	Provision for doubtful tradereceivables
	Non-current			Current
Balance as of December 31, 2024		9,788	^(2)^		53,757
Increases charged to expenses		-			84,015
Decreases charged to income		-			(9,252)
Applications due to utilization		-			(29,381)
Net exchange and translation differences		-			9,320
Result from net monetary position ^(1)^		-			(402)
Reclassifications		-			(192)
Balance as of December 31, 2025		9,788	^(2)^		107,865
Increases charged to expenses		-			10,055
Decreases charged to income		-			(6,470)
Applications due to utilization		-			(1,792)
Net exchange and translation differences		-			(613)
Result from net monetary position ^(1)^		-			(68)
Reclassifications		-			-
Balance as of March 31, 2026		9,788	^(2)^		108,977
(1)	Includes the adjustment for inflation of opening balances of the provision for doubtful trade receivables of subsidiaries<br>with the peso as functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income, and the adjustment for inflation of the period, which was charged to net profit or loss in the statement of<br>comprehensive income.
---	---
(2)	Mainly including credits with distributors of natural gas for the accumulated daily differences pursuant to Decree<br>No. 1,053/2018, see Note 35.c.1) to the annual consolidated financial statements.
---	---

16. INVESTMENTS INFINANCIAL ASSETS

	March 31, 2026
Investments at fair value through profit or loss
Public securities		487,415	^(1)^	360,622
Private securities - NO		17,350		19,947
		504,765		380,569
(1)	See Note 37.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

17. CASH AND CASH EQUIVALENTS

	March 31, 2026
Cash and banks ^(1)^		443,897	287,600
Short-term investments^(2)^		766,858	476,064
Financial assets at fair value through profit or loss<br>^(3)^		614,996	589,039
		1,825,751	1,352,703
(1)	Includes balances granted as collateral, see Note 34.d) to the annual consolidated financial statements.<br>
---	---
(2)	Includes 100,770 and 18,897 of term deposits and other investments with BNA as of March 31, 2026 and<br>December 31, 2025, respectively.
---	---
(3)	See Note 7.
---	---

18. PROVISIONS

Changes in the Group’s provisions for the three-month period ended March 31, 2026 and for the fiscal year ended December 31, 2025 are as follows:

	Provision for lawsuits andcontingencies				Provision for environmentalliabilities				Provision for hydrocarbonwells abandonment obligations				Total
	Non-<br>current		Current		Non-<br>current		Current		Non-<br>current		Current		Non-<br>current		Current
Balance as of December 31, 2024		133,291		21,135		102,348		37,843		882,286		60,413		1,117,925		119,391
Increases charged to expenses		53,664		638		193,570		-		145,055		-		392,289		638
Decreases charged to income		(10,945)		(41)		(1,575)		-		(51,495)		-		(64,015)		(41)
Increases from business combinations		2,881		-		-		-		14,565		-		17,446		-
Applications due to utilization		(2,685)		(28,990)		-		(112,677)		-		(27,441)		(2,685)		(169,108)
Net exchange and translation differences		13,395		8,400		47,230		-		383,437		21,705		444,062		30,105
Result from net monetary position ^(1)^		(57)		-		-		-		-		-		(57)		-
Reclassifications and other movements ^(2)^		(28,781)		28,150		(243,001)		246,609		(748,282)		77,242		(1,020,064)		352,001
Balance as of December 31, 2025		160,763		29,292		98,572		171,775		625,566		131,919		884,901		332,986
Increases charged to expenses		20,271		5		68,239		-		21,534		-		110,044		5
Decreases charged to income		(1,092)		(11)		(704)		-		(8,480)		-		(10,276)		(11)
Increases from business combinations		-		-		-		-		-		-		-		-
Applications due to utilization		(146)		(1,378)		-		(27,798)		-		(5,285)		(146)		(34,461)
Net exchange and translation differences		(2,244)		(1,460)		(13,737)		-		(31,711)		(6,461)		(47,692)		(7,921)
Result from net monetary position ^(1)^		(35)		-		-		-		-		-		(35)		-
Reclassifications and other movements		(1,738)		1,690		(48,909)		47,034		(5,508)		2,681		(56,155)		51,405
Balance as of March 31, 2026		175,779		28,138		103,461		191,011		601,401		122,854		880,641		342,003
(1)	Includes the adjustment for inflation of opening balances of provisions of subsidiaries with the peso as functional<br>currency which was charged to “Other comprehensive income” in the statement of comprehensive income and the adjustment for inflation of the period, which was charged to net profit or loss in the statement of comprehensive income.<br>
---	---
(2)	Includes 350,928 and 5,152 corresponding to the provisions for hydrocarbon wells abandonment obligations and for<br>environmental liabilities, respectively, related to the “Cerro Fortunoso”, “Valle del Río Grande” and “Manantiales Behr” exploitation concessions within the context of the Optimization plan of the<br>conventional Upstream portfolio reclassified to the “Liabilities directly associated with assets held for sale” line item in the statement of financial position, see Note 11.a) to the annual consolidated financial statements.<br>
---	---

Provisions are described in Note 17 to the annual consolidated financial statements.

19. INCOME TAX

The amount accrued of income tax charge for the three-month periods ending March 31, 2026 and 2025 is as follows:

	For the three-month periods ended March 31,
	2026		2025
Current income tax		(208,332)		(19,845)
Deferred income tax		(134,541)		(20,875)
		(342,873)		(40,720)
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

19. INCOME TAX (cont.)

The effective income tax rate projected at the end of the fiscal year amounts to 35.91%. The difference between this rate and the effective rate as of December 31, 2025 is mainly explained by the effect of adhering in November 2025 to the Regularization plan associated with the calculation of tax loss carryforwards, see Note 18 to the annual consolidated financial statements.

As of March 31, 2026 and December 31, 2025 the Group has classified as deferred tax asset 56,478 and 13,055, respectively, and as deferred tax liability 703,603 and 541,035, respectively, all of which arise from the net deferred tax balances of each of the individual companies included in these condensed interim consolidated financial statements.

20. TAXES PAYABLE

	March 31, 2026				December 31, 2025
	Non-current		Current		Non-current		Current
VAT		-		74,560		-		59,925
Withholdings and perceptions		-		95,197		-		112,127
Royalties		-		133,602		-		74,016
Fuels tax		26,459		121,475		26,459		20,638
Turnover tax		-		9,693		-		9,525
Miscellaneous		373		47,926		290		39,226
		26,832		482,453		26,749		315,457

21. SALARIES AND SOCIAL SECURITY

	March 31, 2026				December 31, 2025
	Non-current		Current		Non-current		Current
Salaries and social security		-		136,358		-		105,389
Bonuses and incentives provision		-		236,906		-		240,216
Cash-settled share-based payments provision ^(1)^		130,646		-		83,504		-
Vacation provision		-		85,439		-		87,910
Provision for severance indemnities ^(2)^		-		44,529		-		44,447
Miscellaneous		4,598		8,035		6,896		8,943
		135,244		511,267		90,400		486,905
(1)	Corresponds to the Value Generation Plan, see Note 38.
---	---
(2)	Includes, mainly, severance indemnities related to the Mature Fields Project, see Note 11.a) to the annual consolidated<br>financial statements
---	---

22. LEASE LIABILITIES

The evolution of the Group’s leases liabilities for the three-month period ended March 31, 2026 and for the fiscal year ended December 31, 2025, is as follows:

	Lease liabilities
Balance as of December 31, 2024		799,656
Increases of leases		270,697
Financial accretions		79,309
Decreases of leases		(98,411)
Payments		(501,810)
Net exchange and translation differences		279,383
Result from net monetary position ^(1)^		(1)
Balance as of December 31, 2025		828,823
Increases of leases		217,842
Financial accretions		17,385
Decreases of leases		(8,799)
Payments		(134,990)
Net exchange and translation differences		(38,686)
Result from net monetary position ^(1)^		(1)
Balance as of March 31, 2026		881,574
(1)	Includes the adjustment for inflation of opening balances of lease liabilities of subsidiaries with the peso as functional<br>currency, which was charged to “Other comprehensive income” in the statement of comprehensive income and the adjustment for inflation of the period, which was charged to net profit or loss in the statement of comprehensive income.<br>
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

23. LOANS

									March 31, 2026					December 31, 2025
	Interest rate^(1)^						Maturity		Non-current		Current			Non-current		Current
Pesos:
Financial loans		12.57	%	-	43.04	%		2026-2027		39,160		77,024			88,194		34,630
Account overdrafts				-				-		-		-			-		4,724
										39,160		77,024			88,194		39,354
Currencies other than the peso:
NO ^(2) (3)^		0.00	%	-	10.00	%		2026-2047		10,786,338		1,674,140			10,828,470		2,154,333
Exports pre-financing		2.00	%	-	8.65	%		2026-2028		140,021		19,934	^(5)^		221,317		286,067
Imports financing		7.60	%	-	10.50	%		2026		-		29,488			-		30,201
Financial loans ^(4)^		3.00	%	-	9.25	%		2026-2030		779,661		335,340			793,867		811,933
Stock market promissory notes		3.95	%	-	4.50	%		2026		-		54,607			-		93,140
										11,706,020		2,113,509			11,843,654		3,375,674
										11,745,180		2,190,533			11,931,848		3,415,028
(1)	Nominal annual interest rate as of March 31, 2026.
---	---
(2)	Disclosed net of 243,517 and 254,221 corresponding to YPF’s own NO repurchased through open market transactions, as<br>of March 31, 2026, and December 31, 2025, respectively.
---	---
(3)	Includes 1,677,295 and 2,139,221 as of March 31, 2026, and December 31, 2025, respectively, of nominal value<br>that will be canceled in pesos at the applicable exchange rate in accordance with the terms of the series issued.
---	---
(4)	Includes 390,748 and 338,464 of loans granted by BNA as of March 31, 2026 and December 31, 2025, respectively.<br>
---	---
(5)	Includes 4,136 as of March 31, 2026 of pre-financing of exports granted by<br>BNA.
---	---

Set forth below is the evolution of the loans for three-month period ended March 31, 2026 and for the fiscal year ended December 31, 2025:

	Loans
Balance as of December 31, 2024		9,214,492
Proceeds from loans		5,427,949
Payments of loans		(3,555,040)
Payments of interest		(820,364)
Account overdrafts, net		4,719
Accrued interest ^(1)^		865,596
Net exchange and translation differences		4,184,012
Result from net monetary position ^(2)^		(7,620)
Increases from business combinations		33,132
Balance as of December 31, 2025		15,346,876
Proceeds from loans		1,081,404
Payments of loans		(1,674,053)
Payments of interest		(364,107)
Account overdrafts, net		(4,719)
Accrued interest ^(1)^		278,756
Net exchange and translation differences		(728,592)
Result from net monetary position ^(2)^		148
Increases from business combinations		-
Balance as of March 31, 2026		13,935,713
(1)	Includes capitalized financial costs.
---	---
(2)	Includes the adjustment for inflation of opening balances of loans of subsidiaries with the peso as functional currency<br>which was charged to “Other comprehensive income” in the statement of comprehensive income, and the adjustment for inflation of the period which was charged to net profit or loss in the statement of comprehensive income.<br>
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

23. LOANS (cont.)

Details regarding the NO of the Group are as follows:

												March 31, 2026				December 31, 2025
Month	Year		Principal value^(3)^			Class	Interest rate^(1)^			Principal maturity		Non-current		Current		Non-current		Current
YPF
-		1998		U.S. dollar	15	-		Fixed	10.00%		2028		20,412		856		21,494		364
July, December		2017		U.S. dollar	644	Class LIII		Fixed	6.95%		2027		890,940		11,276		939,447		28,006
December		2017		U.S. dollar	537	Class LIV		Fixed	7.00%		2047		730,092		15,433		768,782		2,608
June		2019		U.S. dollar	399	Class I		Fixed	8.50%		2029		548,100		12,298		577,147		551
February		2021		U.S. dollar	748	Class XVII		Fixed	9.00%		2029		739,886		319,920		779,096		313,660
February		2021		U.S. dollar	576	Class XVIII		Fixed	7.00%		2033		769,689		-		808,875		15,585
July		2021		U.S. dollar	384	Class XX		Fixed	5.75%		2032		415,839		80,872		477,683		93,836
January		2023		U.S. dollar	230	Class XXI		-	-		-		-		-		-		222,666
April		2023		U.S. dollar	38	Class XXIV		Fixed	1.00%		2027		51,681		92		54,420		100
June		2023		U.S. dollar	213	Class XXV		-	-		-		-		-		-		272,931
September		2023		U.S. dollar	400	Class XXVI		Fixed	0.00%		2028		551,000		-		580,200		-
October		2023		U.S. dollar	128	Class XXVII		Fixed	0.00%		2026		-		173,622		-		192,255
January		2024		U.S. dollar	800	Class XXVIII		Fixed	9.50%		2031		875,484		239,286		1,036,414		164,802
May		2024		U.S. dollar	131	Class XXIX		-	-		-		-		-		-		191,024
July, April		2024/25		U.S. dollar	389	Class XXX		Fixed	1.00%		2026		-		417,597		-		535,423
September		2024		U.S. dollar	540	Class XXXI		Fixed	8.75%		2031		1,440,683		6,552		1,517,683		30,694
October		2024		U.S. dollar	125	Class XXXII		Fixed	6.50%		2028		172,188		2,453		181,313		2,648
October		2024		U.S. dollar	25	Class XXXIII		Fixed	7.00%		2028		34,438		1,136		36,263		570
January ^(4)^		2025		U.S. dollar	1,632	Class XXXIV		Fixed	8.25%		2034		2,237,346		38,568		1,565,996		61,639
February		2025		U.S. dollar	140	Class XXXV		Fixed	6.25%		2027		-		193,422		202,432		1,216
May ^(2)^		2025		U.S. dollar	140	Class XXXVII		Fixed	7.00%		2027		191,412		1,999		201,404		2,185
July ^(2)^		2025		U.S. dollar	250	Class XXXVIII		Fixed	7.50%		2027		341,704		4,990		359,585		5,405
July, August ^(2)^		2025		U.S. dollar	225	Class XXXIX		Fixed	8.75%		2030		212,563		5,014		223,290		11,933
August ^(2)^		2025		U.S. dollar	51	Class XL		Fixed	7.50%		2028		69,335		463		73,007		518
October ^(4)^		2025		U.S. dollar	99	Class XLI		Fixed	6.00%		2027		-		137,687		142,715		2,142
December ^(4)^		2025		U.S. dollar	361	Class XLII		Fixed	7.00%		2027		493,546		10,604		281,224		1,572
													10,786,338		1,674,140		10,828,470		2,154,333
(1)	Nominal annual interest rate as of March 31, 2026.
---	---
(2)	During the three-month period ended March 31, 2026, the Group has fully complied with the use of proceeds disclosed<br>in the corresponding pricing supplements.
---	---
(3)	Total nominal value issued without including the nominal values canceled through exchanges or repurchases, expressed in<br>millions.
---	---
(4)	As of the date of issuance of these condensed interim consolidated financial statements, the Group has not yet<br>definitively applied the proceeds disclosed in the corresponding pricing supplements. These proceeds are temporally invested until the committed plan of application is fully complied.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

24. OTHER LIABILITIES

	March 31, 2026				December 31, 2025
	Non-current		Current		Non-current		Current
Liabilities for concessions and assignment agreements		132,088		374,240		132,286		234,259
Liabilities for contractual claims ^(1)^		15,200		73,670		78,377		81,252
Provision for operating optimizations ^(2)^		-		103,513		-		31,809
Liabilities for agreements^(3)^		328,306		180,246		329,496		230,115
Miscellaneous		1,459		3,769		1,449		2,876
		477,053		735,438		541,608		580,311
(1)	Corresponds to the liability arising from the settlement agreement entered into with Transportadora de Gas del Norte S.A.<br>for claims related to restrictions in the natural gas market for the period from 2007 to 2010.
---	---
(2)	Includes, mainly, operating optimizations relating to Mature Fields Project, see Note 11.a.2) to the annual consolidated<br>financial statements and Note 12.a.2).
---	---
(3)	Includes, mainly, the liability related to the assignment of the exploitation concessions in the Province of Santa Cruz<br>within the context of the Mature Fields Project, see Note 11.a.2) to the annual consolidated financial statements.
---	---

25. ACCOUNTS PAYABLE

	March 31, 2026				December 31, 2025
	Non-current		Current		Non-current		Current
Trade payable and related parties ^(1)^		5,600		3,190,172		5,806		3,149,111
Guarantee deposits		1,083		4,762		1,197		4,890
Payables with partners of JO and Consortiums		1,330		41,091		1,401		70,101
Miscellaneous		-		25,151		-		21,786
		8,013		3,261,176		8,404		3,245,888
(1)	See Note 37 for information about related parties.
---	---

26. REVENUES

	For the three-month periods ended March 31,
	2026		2025
Revenue from contracts with customers		6,951,284		4,862,236
National Government incentives ^(1)^		5,150		8,584
		6,956,434		4,870,820
(1)	See Note 37.
---	---

•	Breakdown of revenues

Type of good or service

	For the three-month period ended March 31, 2026
	Upstream		Midstream andDownstream		LNG andIntegratedGas		New Energies		CentralAdministrationand Others		Total
Diesel		-		2,453,773		-		-		-		2,453,773
Gasolines		-		1,592,872		-		-		-		1,592,872
Natural gas ^(1)^		9,539		6,872		424,093		210,210		-		650,714
Crude oil		13,332		364,844		-		-		-		378,176
Jet fuel		-		399,124		-		-		-		399,124
Lubricants and by-products		-		117,507		-		-		-		117,507
LPG		-		174,751		-		-		-		174,751
Fuel oil		-		34,118		-		-		-		34,118
Petrochemicals		-		147,108		-		-		-		147,108
Fertilizers and crop protection products		-		58,290		-		-		-		58,290
Flours, oils and grains		-		208,857		-		-		-		208,857
Asphalts		-		32,912		-		-		-		32,912
Goods for resale at gas stations		-		44,974		-		-		-		44,974
Income from services		-		255		-		298		41,664		42,217
Income from construction contracts		-		-		-		-		114,010		114,010
Virgin naphtha		-		54,771		-		-		-		54,771
Petroleum coke		-		104,206		-		-		-		104,206
LNG regasification		-		1,627		-		-		-		1,627
Other goods and services		23,227		133,848		3,805		70,718		109,679		341,277
		46,098		5,930,709		427,898		281,226		265,353		6,951,284
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

26. REVENUES (cont.)

	For the three-month period ended March 31, 2025
	Upstream		MidstreamandDownstream		LNG andIntegratedGas		NewEnergies		CentralAdministrationand Others		Total
Diesel		-		1,671,695		-		-		-		1,671,695
Gasolines		-		1,091,366		-		-		-		1,091,366
Natural gas ^(1)^		9,555		3,953		343,434		157,501		-		514,443
Crude oil		-		268,072		-		-		-		268,072
Jet fuel		-		225,711		-		-		-		225,711
Lubricants and by-products		-		90,597		-		-		-		90,597
LPG		-		149,146		-		-		-		149,146
Fuel oil		-		31,949		-		-		-		31,949
Petrochemicals		-		99,902		-		-		-		99,902
Fertilizers and crop protection products		-		36,035		-		-		-		36,035
Flours, oils and grains		-		147,067		-		-		-		147,067
Asphalts		-		26,517		-		-		-		26,517
Goods for resale at gas stations		-		38,298		-		-		-		38,298
Income from services		-		-		-		406		34,860		35,266
Income from construction contracts		-		-		-		-		103,860		103,860
Virgin naphtha		-		34,968		-		-		-		34,968
Petroleum coke		-		66,866		-		-		-		66,866
LNG regasification		-		894		-		-		-		894
Other goods and services		9,439		99,044		1,859		46,398		72,844		229,584
		18,994		4,082,080		345,293		204,305		211,564		4,862,236
(1)	Includes 446,535 and 360,348 corresponding to sales of natural gas produced by the Company for the three-month periods<br>ended March 31, 2026 and 2025, respectively.
---	---

Sales channels

	For the three-month period ended March 31, 2026
	Upstream		MidstreamandDownstream		LNG andIntegratedGas		NewEnergies		CentralAdministrationand Others		Total
Gas stations		-		2,592,271		-		-		-		2,592,271
Power plants		-		-		164,148		92,581		-		256,729
Distribution companies		-		-		52,718		-		-		52,718
Retail distribution of natural gas		-		-		-		123,585		-		123,585
Industries, transport and aviation		8,148		1,431,424		207,239		28,488		-		1,675,299
Agriculture		-		604,903		-		-		-		604,903
Petrochemical industry		-		181,350		-		-		-		181,350
Trading		-		769,976		-		-		-		769,976
Oil companies		13,332		162,331		-		-		-		175,663
Commercialization of LPG		-		81,593		-		-		-		81,593
Other sales channels		24,618		106,861		3,793		36,572		265,353		437,197
		46,098		5,930,709		427,898		281,226		265,353		6,951,284
	For the three-month period ended March 31, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---
	Upstream		MidstreamandDownstream		LNG andIntegratedGas		NewEnergies		CentralAdministrationand Others		Total
Gas stations		-		1,828,020		-		-		-		1,828,020
Power plants		-		-		134,011		19,588		-		153,599
Distribution companies		-		-		52,540		-		-		52,540
Retail distribution of natural gas		-		-		-		99,083		-		99,083
Industries, transport and aviation		9,555		1,022,505		158,710		76,482		-		1,267,252
Agriculture		-		402,443		-		-		-		402,443
Petrochemical industry		-		145,412		-		-		-		145,412
Trading		-		496,248		-		-		-		496,248
Oil companies		-		53,255		-		-		-		53,255
Commercialization of LPG		-		69,164		-		-		-		69,164
Other sales channels		9,439		65,033		32		9,152		211,564		295,220
		18,994		4,082,080		345,293		204,305		211,564		4,862,236
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

26. REVENUES (cont.)

Target market

Sales in the domestic market amounted to 5,719,253 and 4,060,130 for the three-month periods ended March 31, 2026 and 2025, respectively.

Sales in the international market amounted to 1,232,031 and 802,106 for the three -month periods ended March 31, 2026 and 2025, respectively.

•	Contract balances

The following table presents information regarding credits, contract assets and contract liabilities:

	March 31, 2026				December 31, 2025
	Non-current		Current		Non-current		Current
Credits for contracts included in the item of “Trade receivables”		16,782		2,513,239		15,572		2,435,111
Contract assets		-		7,232		-		4,522
Contract liabilities		291,460		199,670		261,205		169,937

Contract assets are mainly related to the activities carried out by the Group under construction contracts.

Contract liabilities are mainly related to advances received from customers under transportation service contracts.

For the three-month periods ended March 31, 2026 and 2025 the Group has recognized 51,100 and 45,112, respectively, in the “Revenues from contracts with customers” line under the “Revenues” line item in the statement of comprehensive income, which have been included in “Contract liabilities” line item in the statement of financial position at the beginning of each year.

27. COSTS

	For the three-month periods endedMarch 31,
	2026		2025
Inventories at beginning of year		2,098,590		1,593,666
Purchases		1,797,821		1,082,386
Production costs ^(1)^		2,688,463		2,495,349
Translation effect		(104,476)		64,702
Adjustment for inflation ^(2)^		6,514		4,262
Other movements		2,917		-
Inventories at end of the period		(2,011,757)		(1,733,983)
		4,478,072		3,506,382
(1)	See Note 28.
---	---
(2)	Corresponds to the adjustment for inflation of opening balances of inventories of subsidiaries with the peso as functional<br>currency which was charged to “Other comprehensive income” in the statement of comprehensive income.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

28. EXPENSES BY NATURE

	For the three-month period ended March 31, 2026
	Production<br>costs ^(2)^		Administrative<br>expenses ^(3)^		Selling expenses			Exploration expenses		Total
Salaries and social security taxes		301,954		153,558		59,387			4,536		519,435
Fees and compensation for services		23,890		97,264		17,224			54		138,432
Other personnel expenses		92,964		11,852		5,806			711		111,333
Taxes, charges and contributions		43,664		71,515		312,924	^(1)^		-		428,103
Royalties, easements and fees		369,584		-		851			1,951		372,386
Insurance		12,489		2,818		307			-		15,614
Rental of real estate and equipment		39,571		467		3,647			-		43,685
Survey expenses		-		-		-			1,323		1,323
Depreciation of property, plant and equipment		864,003		20,225		37,452			-		921,680
Amortization of intangible assets		14,457		9,071		183			-		23,711
Depreciation of right-of-use<br>assets		97,784		12		4,175			-		101,971
Industrial inputs, consumable materials and supplies		114,666		5,057		3,153			726		123,602
Operation services and other service contracts		52,443		5,053		22,285			1,551		81,332
Preservation, repair and maintenance		425,951		12,057		12,948			2,309		453,265
Unproductive exploratory drillings		-		-		-			12,792		12,792
Transportation, products and charges		206,655		-		161,570			-		368,225
Provision for doubtful receivables		-		-		3,585			-		3,585
Publicity and advertising expenses		-		18,836		14,394			-		33,230
Fuel, gas, energy and miscellaneous		28,388		5,676		28,124			1,564		63,752
		2,688,463		413,461		688,015			27,517		3,817,456
(1)	Includes 88,942 corresponding to export withholdings and 193,875 corresponding to turnover tax.
---	---
(2)	Includes 10,069 corresponding to research and development activities.
---	---
(3)	Includes 9,956 corresponding to fees and remunerations of Directors of YPF’s Board of Directors and Statutory<br>Auditors.
---	---
	For the three-month period ended March 31, 2025
---	---	---	---	---	---	---	---	---	---	---	---
	Productioncosts ^(2)^		Administrativeexpenses ^(3)^		Sellingexpenses			Explorationexpenses		Total
Salaries and social security taxes		283,855		74,112		37,962			1,040		396,969
Fees and compensation for services		25,159		74,312		13,267			113		112,851
Other personnel expenses		84,634		9,417		3,780			1,269		99,100
Taxes, charges and contributions		23,967		52,082		237,711	^(1)^		-		313,760
Royalties, easements and fees		302,677		-		614			811		304,102
Insurance		22,448		854		307			-		23,609
Rental of real estate and equipment		70,901		38		3,783			-		74,722
Survey expenses		-		-		-			18,491		18,491
Depreciation of property, plant and equipment		720,502		11,109		26,066			-		757,677
Amortization of intangible assets		9,716		4,475		1,058			-		15,249
Depreciation of right-of-use<br>assets		74,219		14		3,303			-		77,536
Industrial inputs, consumable materials and supplies		128,938		1,279		4,593			672		135,482
Operation services and other service contracts		158,866		4,164		12,802			3,957		179,789
Preservation, repair and maintenance		431,523		9,185		11,292			5,508		457,508
Unproductive exploratory drillings		-		-		-			78		78
Transportation, products and charges		136,340		2		131,698			-		268,040
Provision for doubtful receivables		-		-		4,344			-		4,344
Publicity and advertising expenses		-		19,224		13,393			-		32,617
Fuel, gas, energy and miscellaneous		21,604		8,709		22,888			556		53,757
		2,495,349		268,976		528,861			32,495		3,325,681
(1)	Includes 68,109 corresponding to export withholdings and 156,036 corresponding to turnover tax.
---	---
(2)	Includes 8,357 corresponding to research and development activities.
---	---
(3)	Includes 2,613 corresponding to fees and remunerations of Directors of YPF’s Board of Directors and Statutory<br>Auditors.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

29. OTHER NET OPERATING RESULTS

	For the three-month periods ended<br>March 31,
	2026		2025
Lawsuits		(18,011)		(9,290)
Export Increase Program ^(1)^		-		17,470
Result from sale of assets ^(2)^		5,475		15,042
Result from changes in fair value of assets held for sale<br>^(2)^		19,979		(214,500)
Provision for severance indemnities ^(2)^		-		(28,026)
Provision for operating optimizations ^(2)^		(98,773)		-
Provision for obsolescence of materials and equipment<br>^(2)^		11,934		(145,544)
Miscellaneous		(28,114)		22,551
		(107,510)		(342,297)
(1)	See Note 35.j) to the annual consolidated financial statements.
---	---
(2)	See Note 11.a.2) to the annual consolidated financial and Note 12.a.2).
---	---

30. NET FINANCIAL RESULTS

	For the three-month periods ended March 31,
	2026		2025
Financial income
Interest on cash and cash equivalents and investments in financial assets		13,352		6,794
Interest on trade receivables		24,990		9,549
Other financial income		8,086		1,334
Total financial income		46,428		17,677
Financial costs
Loan interest		(275,701)		(171,157)
Hydrocarbon well abandonment provision financial accretion<br>^(1)^		(72,446)		(99,674)
Other financial costs		(74,055)		(25,886)
Total financial costs		(422,202)		(296,717)
Other financial results
Exchange differences generated by loans		(1,255)		1,476
Exchange differences generated by cash and cash equivalents and investments in financial assets		19,490		(9,522)
Other exchange differences, net		(97,206)		13,944
Result on financial assets at fair value through profit or loss		39,227		33,373
Result from derivative financial instruments		(8,348)		738
Result from net monetary position		(29,604)		(11,062)
Total other financial results		(77,696)		28,947
Total net financial results		(453,470)		(250,093)
(1)	Includes 50,913 and 68,911 corresponding to the financial accretion of liabilities directly associated with assets held<br>for sale for the three-month periods ending March 31, 2026 and 2025, respectively, see Notes 2.b.13) and 11.a) to the annual consolidated financial statements.
---	---

31. INVESTMENTS IN JOINT OPERATIONS AND CONSORTIUMS

	March 31, 2026		December 31, 2025
Non-current assets ^(1)^		9,761,534		10,060,481
Current assets		548,151		489,163
Total assets		10,309,685		10,549,644
Non-current liabilities		339,309		354,707
Current liabilities		1,032,115		808,643
Total liabilities		1,371,424		1,163,350
(1)	Does not include charges for impairment of property, plant and equipment because they are recorded by the partners<br>participating in the JO and Consortiums.
---	---
	For the three-month periods ended March 31,
---	---	---	---	---
	2026		2025
Production cost		1,005,135		710,984
Exploration expenses		4,197		4,060
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

32. SHAREHOLDERS’ EQUITY

During the three-month periods ended March 31, 2026 and 2025, the Company has not repurchased any of its own shares.

On April 30, 2026, the General Shareholders’ Meeting was held, which approved the statutory financial statements of YPF corresponding to the year ended on December 31, 2025 and, additionally, approved the following in relation to the retained earnings: (i) completely release the reserve for purchase of treasury shares and the reserve for investments; (ii) absorb accumulated losses in retained earnings up to 1,096,460 (iii) allocate the amount of 38,468 to appropriate a reserve for purchase of treasury shares; and (iv) allocate the amount of 8,415,450 to appropriate a reserve for investments.

33. EARNINGS PER SHARE

	For the three-month periods ended<br>March 31,
	2026		2025
Net profit / (loss)		606,289		(19,864)
Weighted average number of shares outstanding		392,082,386		392,203,637
Basic and diluted earnings per share		1,546.33		(50.65)

34. CONTINGENT ASSETS AND LIABILITIES

Contingent assets and liabilities are described in Note 33 to the annual consolidated financial statements. Updates for the three-month period ended March 31, 2026, are described below:

•	Petersen Energía Inversora, S.A.U. and Petersen Energía, S.A.U. (collectively, “Petersen”) -Eton Park Capital Management, L.P., Eton Park Master Fund, LTD. and Eton Park Fund, L.P. (collectively, “Eton Park”, and together with Petersen, the “Plaintiffs”)

On March 18, 2026, the Court of Appeals stayed all post-judgment proceedings in the District Court, including discovery, pending the appeals of the District Court’s September 15, 2023 judgment.

HORACIO DANIEL MARÍN<br><br><br>President

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

34. CONTINGENT ASSETS AND LIABILITIES (cont.)

On March 27, 2026, briefing was completed in YPF’s appeals of the District Court’s September 17, 2025 and November 10, 2025 orders. Oral argument was calendared for April 16, 2026.

On April 9, 2026, the Court of Appeals granted Plaintiffs’ motion for an extension of time to file a petition for rehearing, and set May 8, 2026, as the deadline.

YPF will continue to defend itself in accordance with the applicable legal procedures and available defenses.

The Company will continue to reassess the status of these litigations and their possible impact on the results and financial situation of the Group, as needed.

35. CONTRACTUAL COMMITMENTS

During the three-month period ended March 31, 2026 there were no significant updates to the contractual commitments described in Note 34 to the annual consolidated financial statements.

36. MAIN REGULATIONS

Main regulations are described in Note 35 to the annual consolidated financial statements. Updates for the three-month period ended March 31, 2026, are described below:

•	Regulations applicable to natural gas and LNG activities

On March 13, 2026, in the context of the emergency in the national energy sector (see Note 35.e) to the annual consolidated financial statements), SE Resolution No. 66/2026 was published, establishing the “Reconfiguration of the Natural Gas Transportation System”. On April 14, 2026, ENARGAS Resolution No. 409/2026 was published, which, among other things, instructs transporters and distributors to enter into new firm transportation contracts or to adjust existing ones in accordance with SE Resolution No. 66/2026. Likewise, on May 1, 2026, the applicable regulatory framework defined by ENARGAS entered into force.

•	Tax Regulations

HORACIO DANIEL MARÍN<br><br><br>President

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

36. MAIN REGULATIONS (cont.)

•	CNV Regulatory Framework

Information requirements as Settlement and Clearing Agent and Trading Agent

As of the date of issuance of these consolidated financial statements, the Company is registered in the CNV under the category “Settlement and Clearing Agent and Trading Agent - Direct Participant”, record No. 549. Considering the Company’s business and the CNV rules, the Company will not, under any circumstance, offer brokerage services to third parties for transactions in markets under the jurisdiction of the CNV, and it will also not open operating accounts to third parties to issue orders and trade in markets under the jurisdiction of the CNV.

In accordance with the regulations to the CNV, the Company is subject to the provisions of Section 5 c), Chapter II, Title VII of the regulations to the CNV, “Settlement and Clearing Agent - Direct Participant”. In this respect, as set forth in Section 13, Title VII, Chapter II, of the CNV rules, as of March 31, 2026, the equity of the Company exceeds the minimum equity required by such rules, which amounts to 873. ****

Documentation keeper

According to the dispositions established in Article 48, Section XII, Chapter IV, Title II of the CNV rules, the Company informs that supporting documentation of YPF’s operations, which is not in YPF’s headquarters, is stored in the following companies:

-	AdeA Administradora de Archivos S.A. located in Barn 3 - Route 36, Km. 31.5 - Florencio Varela - Province of Buenos<br>Aires.
-	Custodia Archivos del Comahue S.A. - Parque Industrial Este, Block N Plot 2 - Capital of Neuquén, Province of<br>Neuquén.
---	---

Additionally, it is placed on record that the detail of the documentation given in custody is available at the registered office, as well as the documents mentioned in Section 5, Subsection a.3, Section I, Chapter V, Title II of the CNV rules.

Additional and/or complementary information

According to the dispositions established in Article 3, item 7, section d), Chapter III, Title IV of the CNV rules relating to the disclosure requirement of unpaid accrued dividends on preferred shares, we inform that the Company has not issued any preferred shares.

According to the dispositions established in Article 3, item 7, section e), Chapter III, Title IV of the CNV rules relating to the disclosure requirement of the conditions, circumstances and deadlines for the cessation of restrictions to the distribution of unappropriated retained earnings and losses and/or reserves, we inform that the restrictions to the distribution of unappropriated retained earnings and losses and/or reserves are detailed in Note 31.

In accordance with the limits set forth in Article 31 of the LGS and in accordance with the provisions of Article 6, Chapter III, Title IV of the CNV regulations, we inform those investments in other companies, excluding those with complementary or integrating corporate purpose, do not exceed such limits.

Effect of the translation of the shareholders’ contributions

In accordance with the requirement of the Section 5, Chapter III, Title IV of the CNV rules, the table below discloses the translation effect originated in the accounts of “Capital”, “Adjustment to capital”, “Treasury shares” and “Adjustment to treasury shares” of the equity:

	For the three-month periods ended March 31,
	2026		2025
Balance at the beginning of the fiscal year		5,695,203		4,043,221
Other comprehensive income		(287,130)		165,199
Balance at the end of the period		5,408,073		4,208,420
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

36. MAIN REGULATIONS (cont.)

As of March 31, 2026 and 2025 the translation effect corresponding to the “Issuance premiums” account amounts to 880,950 and 685,753, respectively, and is included within “Other comprehensive income”.

As of March 31, 2026 and 2025, the translation effect corresponding to the accounts “Share-based benefit plans”, “Acquisition cost of treasury shares” and “Share trading premium” amounts to (88,997) and (68,632), respectively, and is included within “Other comprehensive income”.

37. BALANCES AND TRANSACTIONS WITH RELATED PARTIES

The tables below present the balances with associates and joint ventures as of March 31, 2026 and December 31, 2025:

	March 31, 2026
	Other receivables				Tradereceivables		Investments in financial assets		Accountspayable		Contractliabilities		Contractassets
	Non-Current		Current		Current		Current		Current		Current		Current
Joint Ventures:
YPF EE		-		8,477		10,375		5,750		43,699		-		-
Profertil ^(1)^		-		-		-		-		-		-		-
MEGA		-		-		56,887		-		7,559		141		2,573
Refinor ^(1)^		-		-		-		-		-		-		-
OLCLP ^(1)^		-		-		-		-		-		-		-
CT Barragán		-		-		1		-		-		-		-
OTA		-		-		-		-		1,805		-		-
		-		8,477		67,263		5,750		53,063		141		2,573
Associates:
CDS		-		-		10,579		-		-		-		-
YPF Gas		-		-		14,768		-		683		558		-
Oldelval		207,327		71,372		94		6,643		23,084		-		-
Termap		-		-		-		-		3,117		-		-
GPA		-		-		-		-		8,222		-		-
OTAMERICA		63,705		-		-		-		6,683		-		-
Gas Austral		-		-		169		-		10		-		-
VMOS		-		12,582		61,605		-		-		74,120		-
		271,032		83,954		87,215		6,643		41,799		74,678		-
		271,032		92,431		154,478		12,393		94,862		74,819		2,573
	December 31, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Other receivables				Tradereceivables		Investments in financial assets		Accountspayable		Contractliabilities		Contractassets
	Non-Current		Current		Current		Current		Current		Current		Current
Joint Ventures:
YPF EE		-		8,787		8,043		5,924		46,995		-		-
Profertil ^(1)^		-		-		-		-		-		-		-
MEGA		-		-		46,895		-		32		194		4,238
Refinor ^(1)^		-		-		-		-		-		-		-
OLCLP ^(1)^		-		-		-		-		-		-		-
CT Barragán		-		-		1		-		-		-		-
OTA		-		902		1		-		5,126		-		-
		-		9,689		54,940		5,924		52,153		194		4,238
Associates:
CDS		-		-		1,289		-		-		-		-
YPF Gas		-		-		14,120		-		1,131		-		-
Oldelval		222,908		18,970		70		6,748		47,529		-		-
Termap		-		-		-		-		2,271		-		-
GPA		-		-		-		-		2,948		-		-
OTAMERICA		67,081		-		1,267		865		4,193		-		-
Gas Austral		-		-		200		-		8		-		-
VMOS		-		22,559		77,220		-		-		64,119		-
		289,989		41,529		94,166		7,613		58,080		64,119		-
		289,989		51,218		149,106		13,537		110,233		64,313		4,238
(1)	See Note 3 to the annual consolidated financial statements.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

37. BALANCES AND TRANSACTIONS WITH RELATED PARTIES (cont.)

The table below presents the transactions with associates and joint ventures for the three-month periods ended March 31, 2026 and 2025:

	For the three-month period ended March 31,
	2026						2025
	Revenues		Costs and expenses		Net interest<br>income (loss)		Revenues		Costs and expenses		Net<br>interest<br>income<br>(loss)
Joint Ventures:
YPF EE		5,671		44,243		-		5,186		38,232		48
Profertil ^(1)^		-		-		-		17,572		16,486		-
MEGA		93,746		21,585		(71)		90,718		1,063		-
Refinor ^(1)^		-		-		-		17,259		2,752		215
OLCLP ^(1)^		-		-		-		216		3,730		-
CT Barragán		3		-		-		2		-		-
OTA		19		6,150		-		11		6,123		-
		99,439		71,978		(71)		130,964		68,386		263
Associates:
CDS		9,256		-		16		-		-		3
YPF Gas		22,110		492		1,230		19,391		1,164		10
Oldelval		171		48,074		5		123		18,892		1
Termap		-		6,979		-		-		6,328		-
GPA		-		7,662		-		-		6,601		-
OTAMERICA		10		12,027		-		8		6,345		1
Gas Austral		750		13		-		890		-		-
VMOS		69,995		-		-		4,679		-		-
		102,292		75,247		1,251		25,091		39,330		15
		201,731		147,225		1,180		156,055		107,716		278
(1)	See Note 3 to the annual consolidated financial statements
---	---

		Balances ^(15)^				Transactions
		Receivables / (Liabilities)				Income / (Costs)
		March 31,<br>2026		December 31,<br>2025		For the three-month periodsended March 31,
Client / Suppliers	Ref.				2026			2025
SE	(1) (14)		42,522		60,005		3,310		6,396
SE	(2) (14)		636		1,088		596		674
SE	(3) (14)		167		167		-		-
SE	(4) (14)		3,662		6,189		1,244		1,514
SE	(5) (14)		6,813		6,813		-		-
Secretary of Transport	(6) (14)		5,123		5,210		-		-
Secretary of Industry	(7) (14)		-		172		-		-
CAMMESA	(8)		157,005		126,908		177,372		143,628
CAMMESA	(9)		(1,310)		(2,087)		(5,491)		(1,617)
ENARSA	(10)		94,971		184,188		28,532		25,928
ENARSA	(11)		(46,156)		(47,674)		(2,961)		(2,497)
Aerolíneas Argentinas S.A.	(12)		39,859		47,540		106,171		84,336
Aerolíneas Argentinas S.A.	(13)		(19)		(20)		-		(8)
(1)	Benefits for the Plan GasAr 2020-2024 and Plan GasAr 2023-2028, see Note 35.f.1) to the annual consolidated financial<br>statements.
---	---
(2)	Benefits for the propane gas supply agreement for undiluted propane gas distribution networks, see Note 35.f.2)<br>“Propane Network Agreement” section to the annual consolidated financial statements.
---	---
(3)	Benefits for the recognition of the financial cost generated by payment deferral by providers of the distribution service<br>of natural gas and undiluted propane gas through networks, see Note 36 to the annual consolidated financial statements.
---	---
(4)	Compensation for the lower income that natural gas distribution services by companies receive from their users, see Note<br>35.c.3) to the annual consolidated financial statements.
---	---
(5)	Compensation by Decree No. 1,053/2018, see Note 35.c.1) to the annual consolidated financial statements.<br>
---	---
(6)	Compensation for providing diesel to public transport of passengers at a differential price, see Note 36 to the annual<br>consolidated financial statements.
---	---
(7)	Incentive for domestic manufacturing of capital goods, for the benefit of AESA, see Note 36 to the annual consolidated<br>financial statements..
---	---
(8)	Sales of fuel oil, diesel, natural gas and transportation and distribution services.
---	---
(9)	Purchases of electrical energy.
---	---
(10)	Sales of natural gas and provision of regasification service of LNG and construction inspection service.<br>
---	---
(11)	Purchases of natural gas and crude oil.
---	---
(12)	Sales of jet fuel.
---	---
(13)	Purchases of miles for YPF Serviclub Program and publicity expenses.
---	---
(14)	Income from incentives recognized according to IAS 20, see Note 2.b.12) “Income from Government incentive<br>programs” section to the annual consolidated financial statements.
---	---
(15)	Do not include, if applicable, the provision for doubtful trade receivables.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

37. BALANCES AND TRANSACTIONS WITH RELATED PARTIES (cont.)

In addition, in connection with the investment agreement signed between YPF and subsidiaries of Chevron Corporation, YPF has an indirect non-controlling interest in Compañía de Hidrocarburo No Convencional S.R.L. (“CHNC”). During the three-month periods ended March 31, 2026 and 2025, YPF and CHNC carried out transactions such as the purchases of crude oil by YPF for 30,630 and 142,604, respectively, among others. These transactions were consummated in accordance with the general and regulatory conditions of the market. As a result, as of March 31, 2026, YPF has a net balance receivable from CHNC of 1,208 and as of December 31, 2025 the net balance payable to CHNC amounted to 18,842, respectively. See Note 36 to the annual consolidated financial statements.

	For the three-month periods ended March 31,
	2026			2025
Short-term benefits ^(1)^		11,268			6,092
Share-based benefits ^(3)^		43,704			3,251
Post-retirement benefits		289			238
		55,261	^(2)^		9,581
(1)	Does not include social security contributions of 2,574 and 1,373 for the three-month periods ended March 31, 2026<br>and 2025, respectively.
---	---
(2)	The accrued compensation for the YPF’s key management personnel, to the functional currency of the Company,<br>correspond to US$ 39 million and US$ 9 million for the years ended March 31, 2026 and 2025, respectively.
---	---
(3)	Include Value Generation Plan, see Note 38 and Note 37 to the annual consolidated financial statements.<br>
---	---

38. EMPLOYEE BENEFIT PLANS AND SIMILAR OBLIGATIONS

Note 37 to the annual consolidated financial statements describes the main characteristics and accounting treatment for employee benefit plans and similar obligations implemented by the Group.

Retirement plan

The amount charged to expense related to the Retirement Plan was 1,927 and 1,400 for the three-month periods ended March 31, 2026 and 2025, respectively.

Short-term benefit programs

The amount charged to expense related to the short-term benefit programs was 51,932 and 45,383 for the three-month periods ended March 31, 2026 and 2025, respectively.

Share-based benefit plans

As of March 31, 2026, there are 4.6 million number of PSARs outstanding with and a weighted average fair value of US$ 29.95 per PSARs. The charge to income related to the Value Creation Plan was a loss of 52,679 and a recovery of 604 for the three-month periods ended March 31, 2026 and 2025, respectively. As of December 31, 2025, weighted average fair value was US$ 20.84 per PSARs.

The amount charged to expense in relation with the remaining share-based benefit plans was 4,921 and 2,770 to be settled in equity instruments, for the three-month periods ended March 31, 2026 and 2025, respectively.

Note 2.b.11) to the annual consolidated financial statements describes the accounting policies for share-based benefit plans. Repurchases of treasury shares are disclosed in Note 32.

HORACIO DANIEL MARÍN<br><br><br>President

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise<br>indicated)

39. ASSETS AND LIABILITIES IN CURRENCIES OTHER THAN THE PESO

	March 31, 2026						December 31, 2025
	Amount incurrenciesother than the peso		Exchangerate in force ^(1)^		Total		Amount incurrenciesother than the peso		Exchangerate in force ^(1)^		Total
Non-current assets
Other receivables
U.S. dollar		445		1,373.00		610,691		466		1,446.00		673,812
Total non-current assets						610,691						673,812
Current assets
Other receivables
U.S. dollar		247		1,373.00		338,640		676		1,446.00		976,984
Chilean peso		7,446		1.48		11,020		10,035		1.59		15,956
Trade receivables
U.S. dollar		750		1,373.00		1,029,420		621		1,446.00		898,569
Investments in financial assets
U.S. dollar		366		1,373.00		502,908		241		1,446.00		347,947
Cash and cash equivalents
U.S. dollar		707		1,373.00		970,321		440		1,446.00		635,922
Total current assets						2,852,309						2,875,378
Total assets						3,463,000						3,549,190
Non-current liabilities
Provisions
U.S. dollar		534		1,382.00		737,970		521		1,455.00		758,001
Contract liabilities
U.S. dollar		211		1,382.00		291,460		180		1,455.00		261,205
Salaries and social security
U.S. dollar		95		1,382.00		130,646		57		1,455.00		83,504
Lease liabilities
U.S. dollar		331		1,382.00		457,536		272		1,455.00		396,386
Loans
U.S. dollar		8,470		1,382.00		11,706,020		8,140		1,455.00		11,843,654
Other liabilities
U.S. dollar		333		1,382.00		460,394		357		1,455.00		519,892
Total non-current liabilities						13,784,026						13,862,642
Current liabilities
Liabilities directly associated with assets held for sale
U.S. dollar		1,056		1,382.00		1,459,695		1,178		1,455.00		1,713,545
Provisions
U.S. dollar		247		1,382.00		342,003		229		1,455.00		332,986
Contract liabilities
U.S. dollar		43		1,382.00		59,426		19		1,455.00		27,645
Salaries and social security
U.S. dollar		108		1,382.00		149,256		89		1,455.00		129,495
Lease liabilities
U.S. dollar		307		1,382.00		424,007		297		1,455.00		432,423
Loans
U.S. dollar		1,529		1,382.00		2,113,509		2,320		1,455.00		3,375,674
Other liabilities
U.S. dollar		460		1,382.00		636,333		381		1,455.00		554,118
Accounts payable
U.S. dollar		1,039		1,382.00		1,436,532		1,053		1,455.00		1,532,201
Euro		10		1,598.28		16,261		19		1,713.12		32,675
Total current liabilities						6,637,022						8,130,762
Total liabilities						20,421,048						21,993,404
(1)	Exchange rate as of March 31, 2026 and December 31, 2025 according to the BNA.
---	---
HORACIO DANIEL MARÍN<br><br><br>President
---

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.

In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF MARCH 31, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos, or as otherwise indicated)

40. SUBSEQUENT EVENTS

Issuance of ON

Stock split on YPF’s ordinary shares

These condensed interim consolidated financial statements were approved by the Board of Directors’ meeting and authorized to be issued on May 7, 2026.

HORACIO DANIEL MARÍN<br><br><br>President

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	YPF Sociedad Anónima
Date: May 14, 2026	By:	/s/ Margarita Chun
	Name:	Margarita Chun
	Title:	Market Relations Officer

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