YPF 6-K

Table of Contents

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 August 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 ☐

Table of Contents

YPF Sociedad Anónima

TABLE OF CONTENT

ITEM 1 YPF S.A.’s Condensed Interim Consolidated Financial Statements as of June 30, 2026 and Comparative Information (Unaudited) (US$).

ITEM 2 YPF S.A.’s Condensed Interim Consolidated Financial Statements as of June 30, 2026 and Comparative Information (Unaudited) (AR$).

Table of Contents

YPF SOCIEDAD ANONIMA

CONDENSED INTERIM CONSOLIDATED

FINANCIALSTATEMENTS AS OF JUNE 30, 2026

AND COMPARATIVE INFORMATION

Table of Contents

YPF SOCIEDAD ANONIMA<br><br><br>CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF JUNE 30, 2026 ANDCOMPARATIVE 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’ 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<br>business		8
2		Basis of preparation of the condensed interim consolidated financial<br>statements		9
3		Seasonality of operations		10
4		Acquisitions and disposals		10
5		Financial risk management		11
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		22
14		Other receivables		22
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		35
36		Main regulations		35
37		Balances and transactions with related parties		37
38		Employee benefit plans and similar obligations		39
39		Subsequent events		40

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	1
YPF SOCIEDAD ANONIMA
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 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 Committee
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		Oleoducto Trasandino (Argentina) S.A.
OTAMERICA		OTAMERICA Ebytem S.A.
OTC		Oleoducto Trasandino (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.
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

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YPF SOCIEDAD ANONIMA

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

AS OF JUNE 30, 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

April 30, 2026, 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 July 15, 2026, under No. 12,932, Book 127 of Corporations.

Capital structure

3,933,127,930 shares of common stock, $ 1 par value and 1 vote per share (see Note 32).

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

3,933,127,930.

HORACIO DANIEL MARÍN

President

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	3
YPF SOCIEDAD ANONIMA

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

AS OF JUNE 30, 2026 AND DECEMBER 31, 2025

(Amounts expressed in millions of United States dollars)

		Notes		June 30,<br>2026				December 31,2025
ASSETS
Non-current assets
Intangible assets		8			1,079				1,068
Property, plant and equipment		9			20,433				19,085
Right-of-use assets		10			689				537
Investments in associates and joint ventures		11			2,056				1,610
Deferred income tax assets, net		19			24				9
Other receivables		14			797				648
Trade receivables		15			6				5
Total non-current assets				****	25,084	****		****	22,962	****
Current assets
Assets held for sale		12			432				1,019
Inventories		13			1,643				1,447
Contract assets		26			7				3
Other receivables		14			666				1,159
Trade receivables		15			2,087				1,654
Investments in financial assets		16			1,156				262
Cash and cash equivalents		17			1,318				933
Total current assets				****	7,309	****		****	6,477	****
TOTAL ASSETS				****	32,393	****		****	29,439	****
SHAREHOLDERS’ EQUITY
Capital					3,916				3,921
Treasury shares					17				12
Share-based benefit plans					14				7
Acquisition cost of treasury shares					(62)				(35)
Share trading premiums					(44)				(44)
Issuance premiums					640				640
Legal reserve					787				787
Reserve for investments					5,802				6,587
Reserve for purchase of treasury shares					27				33
Other comprehensive income					(211)				(338)
Unappropriated retained earnings and losses					1,640				(756)
Shareholders’ equity attributable to shareholders of the parent company				****	12,526	****		****	10,814	****
Non-controlling interest					269				230
TOTAL SHAREHOLDERS’ EQUITY				****	12,795	****		****	11,044	****
LIABILITIES
Non-current liabilities
Provisions		18			661				610
Contract liabilities		26			236				180
Deferred income tax liabilities, net		19			446				373
Income tax liability					801				830
Taxes payable		20			12				18
Salaries and social security		21			134				63
Lease liabilities		22			410				273
Loans		23			8,521				8,226
Other liabilities		24			547				373
Accounts payable		25			5				6
Total non-current liabilities				****	11,773	****		****	10,952	****
Current liabilities
Liabilities directly associated with assets held for sale		12			981				1,181
Provisions		18			236				229
Contract liabilities		26			192				117
Income tax liability					781				73
Taxes payable		20			401				217
Salaries and social security		21			300				336
Lease liabilities		22			304				298
Loans		23			1,607				2,355
Other liabilities		24			737				399
Accounts payable		25			2,286				2,238
Total current liabilities				****	7,825	****		****	7,443	****
TOTAL LIABILITIES				****	19,598	****		****	18,395	****
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY				****	32,393	****		****	29,439	****

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

HORACIO DANIEL MARÍN

President

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	4
YPF SOCIEDAD ANONIMA

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

FOR THE SIX AND THREE-MONTH PERIODS ENDED JUNE 30, 2026 AND 2025

(Amounts expressed in millions of United States dollars, except per share information expressed in United States dollars)

					For the six-month periods<br>ended June 30,								For the three-month periodsended June 30,
		Notes			2026				2025				2026				2025
Net income
Revenues			26			11,520				9,249				6,574				4,641
Costs			27			(6,797)				(6,756)				(3,609)				(3,448)
Gross profit					****	4,723	****		****	2,493	****		****	2,965	****		****	1,193	****
Selling expenses			28			(1,090)				(1,007)				(601)				(510)
Administrative expenses			28			(614)				(491)				(323)				(233)
Exploration expenses			28			(37)				(51)				(17)				(21)
Inventories write-down and reversal of impairment losses of property, plant and equipment			27			(8)				9				(8)				9
Other net operating results			29			(283)				(349)				(203)				(26)
Operating profit					****	2,691	****		****	604	****		****	1,813	****		****	412	****
Income from equity interests in associates and joint ventures			11			216				75				115				(6)
Financial income			30			95				44				63				28
Financial costs			30			(616)				(564)				(312)				(279)
Other financial results			30			64				19				119				(5)
Net financial results			30			(457)				(501)				(130)				(256)
Net profit before income tax					****	2,450	****		****	178	****		****	1,798	****		****	150	****
Income tax			19			(836)				(130)				(593)				(92)
Net profit for the period					****	1,614	****		****	48	****		****	1,205	****		****	58	****
Other comprehensive income
Items that may be reclassified subsequently to profit or loss:
Translation effect from subsidiaries, associates and joint ventures						(16)				(122)				(67)				(84)
Result from net monetary position in subsidiaries, associates and joint ventures^(1)^						173				123				45				39
Other comprehensive income for the period					****	157	****		****	1	****		****	(22)	****		****	(45)	****
Total comprehensive income for the period					****	1,771	****		****	49	****		****	1,183	****		****	13	****
Net profit for the period attributable to:
Shareholders of the parent company						1,605				34				1,201				50
Non-controlling interest						9				14				4				8
Other comprehensive income for the period attributable to:													****	****	****
Shareholders of the parent company						127				3				(18)				(34)
Non-controlling interest						30				(2)				(4)				(11)
Total comprehensive income for the period attributable to:													****	****	****
Shareholders of the parent company						1,732				37				1,183				16
Non-controlling interest						39				12				-				(3)
Earnings per share attributable to shareholders of the parent company:
Basic and diluted ^(2)^			33			0.41				0.01				0.31				0.01
(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)	In accordance with IAS 33 “Earnings per share”, the calculation of basic and diluted earnings per share was<br>adjusted retrospectively to include the effect of the stock split, see Note 32 “Stock split on YPF’s ordinary shares” section.
---	---

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

HORACIO DANIEL MARÍN

President

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	5
YPF SOCIEDAD ANONIMA
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES INSHAREHOLDERS’ EQUITY<br> <br>FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2026 AND 2025
(Amounts expressed in millions of United States dollars)
		For the six-month period ended June 30, 2026
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
		Shareholders’ contributions																		Retained earnings ^(4)^															Equity attributable to
		Capital			Treasuryshares			Share-basedbenefitplans			Acquisitioncost oftreasuryshares ^(2)^			Sharetradingpremiums			Issuancepremiums			Legalreserve			Reserve forinvestments			Reserveforpurchaseoftreasuryshares			Othercomprehensiveincome			Unappropriatedretained earningsand losses			Shareholdersof the parentcompany			Non-<br>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)^			-			-			7			-			-			-			-			-			-			-			-			7			-			7
Repurchase of treasury shares			(5)			5			-			(27)			-			-			-			-			-			-			-			(27)						(27)
Release of reserves ^(5)^			-			-			-			-			-			-			-			(6,587)			(33)			-			6,620			-			-			-
Appropriation to reserves ^(5)^			-			-			-			-			-			-			-			5,802			27			-			(5,829)			-			-			-
Other comprehensive income			-			-			-			-			-			-			-			-			-			127			-			127			30			157
Net profit for the period			-			-			-			-			-			-			-			-			-			-			1,605			1,605			9			1,614
Balance as of June 30, 2026			3,916			17			14			(62)			(44)			640			787			5,802			27			(211)	^(1)^		1,640			12,526			269			12,795
(1)	Includes (2,367) 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 2,156 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 62 restricted to the distribution of retained earnings as of June 30, 2026 and December 31, 2025,<br>respectively. See Note 31 to the annual consolidated financial statements.
---	---
(5)	As decided in the Shareholders’ Meeting on April 30, 2026.
---	---

HORACIO DANIEL MARÍN

President

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	6
YPF SOCIEDAD ANONIMA
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY<br><br><br>FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2026 AND 2025 (cont.)
(Amounts expressed in millions of United States dollars)
		For the six-month period ended June 30, 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-<br>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)^			-			-			5			-			-			-			-			-			-			-			-			5			-			5
Repurchase of treasury shares			-			-			-			-			-			-			-			-			-			-			-			-			-			-
Release of reserves ^(5)^			-			-			-			-			-			-			-			(4,236)			(36)			-			4,272			-			-			-
Appropriation to reserves ^(5)^			-			-			-			-			-			-			-			6,587			33			-			(6,620)			-			-			-
Other comprehensive income			-			-			-			-			-			-			-			-			-			3			-			3			(2)			1
Net profit for the period			-			-			-			-			-			-			-			-			-			-			34			34			14			48
Balance as of June 30, 2025			3,922			11			8			(28)			(42)			640			787			6,587			33			(328)			104			11,694			230			11,924
(1)	Includes (2,098) 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 1,770 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 June 30, 2025 and December 31, 2024,<br>respectively. See Note 31 to the annual consolidated financial statements.
---	---
(5)	As decided in the Shareholders’ Meeting on April 30, 2025.
---	---

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

HORACIO DANIEL MARÍN

President

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	7
YPF SOCIEDAD ANONIMA
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW<br><br><br>FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2026 AND 2025
(Amounts expressed in millions of United States dollars)
		For the six-month periods ended June30,
---	---	---	---	---	---	---	---	---
		2026				2025
Cash flows from operating activities		****	****	****		****	****	****
Net profit			1,614				48
Adjustments to reconcile net profit to cash flows provided by operating activities:
Income from equity interests in associates and joint ventures			(216)				(75)
Depreciation of property, plant and equipment			1,441				1,422
Amortization of intangible assets			31				31
Depreciation of right-of-use assets			149				141
Retirement of property, plant and equipment and intangible assets and consumption of materials			148				199
Charge on income tax			836				130
Net increase in provisions			177				508
Inventories write-down and reversal of impairment losses of property, plant and equipment			8				(9)
Effect of changes in exchange rates, interest and others			336				511
Share-based benefit plans			7				5
Result from sale of assets			(4)				(182)
Result from changes in fair value of assets held for sale			133				244
Result from revaluation of companies			-				(45)
Result from liabilities for agreements			82				-
Other insurance income			(8)				-
Changes in assets and liabilities:
Trade receivables			(388)				(285)
Other receivables			116				(244)
Inventories			(205)				63
Accounts payable			(325)				(86)
Taxes payable			182				53
Salaries and social security			40				(84)
Other liabilities			(24)				(392)
Decrease in provisions due to payment/use			(58)				(100)
Contract assets			(4)				5
Contract liabilities			134				80
Dividends received			68				165
Proceeds from collection of profit loss insurance			1				5
Income tax payments			(34)				(112)
Net cash flows from operating activities ^(1)(2)^		****	4,237	****		****	1,996	****
Investing activities: ^(3)^
Acquisition of property, plant and equipment and intangible assets			(2,217)				(2,509)
Additions of assets held for sale			(8)				(42)
Contributions and acquisitions of interests in associates and joint ventures			(236)				(82)
Acquisitions from business combinations net of cash and cash equivalents			-				(230)
(Payments) / proceeds net from the purchase and sale of financial assets			(849)				148
Interests received from financial assets			2				3
Proceeds from concessions, assignment agreements and sale of assets			568				71
Net cash flows used in investing activities		****	(2,740)	****		****	(2,641)	****
Financing activities: ^(3)^
Payments of loans			(1,573)				(1,381)
Payments of interests			(372)				(321)
Proceeds from loans			1,110				2,281
Account overdrafts, net			(3)				-
Repurchase of treasury shares			(27)				-
Payments of leases			(194)				(204)
Payments of interests in relation to income tax			(56)				(1)
Net cash flows (used in) / from financing activities		****	(1,115)	****		****	374	****
Effect of changes in exchange rates on cash and cash equivalents		****	3	****		****	(73)	****
Increase / (Decrease) in cash and cash equivalents		****	385	****		****	(344)	****
Cash and cash equivalents at the beginning of the fiscal year			933				1,118
Cash and cash equivalents at the end of the period			1,318				774
Increase / (Decrease) in cash and cash equivalents		****	385	****		****	(344)	****
(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 37 and 33 for the six-month periods ended June 30, 2026 and 2025, respectively, for payments of short-term<br>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 six-month periods ended June 30,
---	---	---	---	---	---	---
		2026			2025
Unpaid acquisitions of property, plant and equipment and intangible assets			830			565
Unpaid additions of assets held for sale			1			2
Additions of right-of-use assets			362			166
Capitalization of depreciation of right-of-use assets			18			32
Capitalization of financial accretion for lease liabilities			2			5
Capitalization in associates and joint ventures			-			12
Liabilities arising from company acquisitions			87			14
Unpaid receivables from the sale of assets			554			428
Liabilities arising from asset exchange			232			-

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

HORACIO DANIEL MARÍN

President

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	8
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)
1.	GENERAL INFORMATION, STRUCTURE AND ORGANIZATION OF THE GROUP’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 June 30, 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 June 30, 2026, by business segment:

Entity		Country		Main business		% of ownership ofcapital stock ^(1)^		Relationship
Upstream
SC Gas		Argentina		Hydrocarbon exploitation		100%		Subsidiary
VMI		Argentina		Hydrocarbon exploitation		100%		Subsidiary
Bandurria Sur Participaciones ^(5)^		Argentina		Hydrocarbon exploitation		16.30%		Associate
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)^		Argentina		Hydrocarbon transportation		29.82%		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)	As of June 30, 2026, the shares of Bandurria Sur Participaciones are pledged in guarantee for the obligations assumed<br>in relation to the contingent consideration contemplated in the agreements entered into with Vista (see Note 4).
---	---

HORACIO DANIEL MARÍN

President

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	9
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)
2.	BASIS OF PREPARATION OF THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
---	---

2.a) Applicable accounting framework

The condensed interim consolidated financial statements of the Company for the six-month period ended June 30, 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 as issued by the IASB.

These condensed interim consolidated financial statements corresponding to the six-month period ended June 30, 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 six-month period ended June 30, 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 August 10, 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.

Standards and interpretations issued by the IASB during the six-month period ended June 30, 2026, whose application is not mandatory at the closing date of these condensed interim consolidated financial statements and have not been adopted by the Group

•	IFRS 20 “Regulatory assets and regulatory liabilities”

In May 2026, the IASB issued IFRS 20 which replaces IFRS 14 “Regulatory deferral accounts”, with the objective of providing more complete information about the effects of rate regulation on the financial performance and financial position of entities subject to a rate regulation agreement. This standard is effective for fiscal years beginning on or after January 1, 2029.

IFRS 20 establishes requirements for the recognition, measurement, presentation and disclosure of regulatory assets, liabilities, income and expense arising from differences in timing between the period in which an entity provides regulatory goods or services and the period in which the entity collects payment from customers through regulated rates.

As of the date of issuance of these condensed interim consolidated financial statements, the Group is in the process of evaluating the effects of the application of IFRS 20.

•	Amendments to IAS 28 - Fair value option for investments in associates and joint ventures

In June 2026, the IASB issued amendments to IAS 28, with the objective of clarifying which entities are eligible to apply the fair value measurement option for certain investments in associates and joint ventures, which are effective when an entity first applies IFRS 18 “Presentation and disclosure in financial statements”.

The amendments specify which entities are within the scope of the option provided for in IAS 28 to measure investments in associates or joint ventures at fair value through profit or loss in accordance with IFRS 9 “Financial instruments”, instead of applying the equity method, limiting this option to venture capital organizations, mutual funds, unit trusts and similar entities.

As of the date of issuance of these condensed interim consolidated financial statements, the Group anticipates that the application of these amendments will not have a significant impact on its financial statements.

HORACIO DANIEL MARÍN

President

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	10
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

2. BASIS OF PREPARATION OF THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (cont.)

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 forissuers 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 interimconsolidated 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 six-month period ended June 30, 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.

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 six-month period ended June 30, 2026 are described below:

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

On January 22, 2026, the Company entered into an asset exchange 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 interim consolidated financial statements, the closing conditions have not yet been met.

Based on the aforementioned, as of June 30, 2026, YPF recognized 232 in property, plant, and equipment related to the acquisition of the interest in the “Aguada Villanueva”, “Las Tacanas”, and “Meseta Buena Esperanza” exploitation concessions, and a liability in the same amount until the closing conditions set forth in the amendment signed on April 30, 2026, are met.

In accordance with the transaction described and the expected cash flows from the exchanged assets, the closing of the transaction will not have an impact on its financial results.

HORACIO DANIEL MARÍN

President

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	11
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

4. ACQUISITIONS AND DISPOSALS (cont.)

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 Bandurria Sur Participaciones S.A. (formerly Equinor Argentina S.A.U., hereinafter “Bandurria Sur Participaciones”), 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 (i) holds a 16.3% interest in the capital stock of Bandurria Sur Participaciones, which owns a 30% interest in the “Bandurria Sur” exploitation concession, and which, combined with YPF’s current 40% interest in that concession, this results in a total direct and indirect 44.9% interest in that block; and (ii) acquired a 15% interest in the “Bajo del Toro” exploration permit and “Bajo del Toro Norte” exploitation concession, which, combined with YPF’s current 50% interest, results in a total direct 65% interest in those areas.

The total amount of both transactions was 204 in cash. In addition, the Company recognized a liability of 87 associated with the additional contingent consideration, which is subject to the fulfillment of certain contractual conditions.

Based on the closing of the aforementioned agreement, as of the transaction’s closing date, YPF recognized 218 in investments in associates related to the acquisition of the associate Bandurria Sur Participaciones, applying the equity method from the date of acquisition, and 73 in property, plant, and equipment related to the acquisition of the interest in the “Bajo del Toro” and “Bajo del Toro Norte” exploitation concessions.

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 six-month period ended June 30, 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 June 30, 2026, the Group is in compliance with its covenants.

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.

HORACIO DANIEL MARÍN

President

Table of Contents

	12
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

6. BUSINESS SEGMENT INFORMATION (cont.)

•	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.

•	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

President

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	13
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)
6.	BUSINESS SEGMENT INFORMATION (cont.)
---	---
		Upstream				Midstream and<br>Downstream			LNG and<br>Integrated Gas			New Energies			Central<br>Administration<br>and Others			Consolidation<br>adjustments^(1)^****			Total
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
For the six- month period ended June 30, 2026
Revenues			52				9,836			793			436			403			-			11,520
Revenues from intersegment sales			4,710				103			160			7			558			(5,538)			-
Revenues			4,762				9,939			953			443			961			(5,538)			11,520
Operating profit or loss			1,571	^(3)^			1,792			(36)			40			(347)			(329)			2,691
Income from equity interests in associates and joint ventures			-				26			37			153			-			-			216
Net financial results																						(457)
Net profit before income tax																						2,450
Income tax																						(836)
Net profit for the period																						1,614
Acquisitions of property, plant and equipment			2,312				410			41			17			44			-			2,824
Acquisitions of right- of- use assets			282				80			-			-			-			-			362
Increases from business combinations			-				-			-			-			-			-			-
Other income statement items
Depreciation of property, plant and equipment ^(2)^			1,070				278			34			17			42			-			1,441
Amortization of intangible assets			-				18			-			4			9			-			31
Depreciation of right- of- use assets			84				62			-			-			3			-			149
Inventories write- down			-				8			-			-			-			-			8
Balance as of June 30, 2026
Assets			14,142				11,932			901			2,423			3,477			(482)			32,393

HORACIO DANIEL MARÍN

President

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	14
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)
6.	BUSINESS SEGMENT INFORMATION (cont.)
---	---
		Upstream				Midstream and<br>Downstream			LNG and<br>Integrated Gas			New Energies			Central<br>Administration<br>and Others			Consolidation<br>adjustments^(1)^****			Total
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
For the six-month period ended June 30, 2025
Revenues			49				7,574			807			418			401			-			9,249
Revenues from intersegment sales			3,913				108			158			3			552			(4,734)			-
Revenues			3,962				7,682			965			421			953			(4,734)			9,249
Operating profit or loss			88	^(3)^			739			(5)			48			(230)			(36)			604
Income from equity interests in associates and joint ventures			-				(12)			29			58			-			-			75
Net financial results																						(501)
Net profit before income tax																						178
Income tax																						(130)
Net loss for the period																						48
Acquisitions of property, plant and equipment			1,999				500			17			18			46			-			2,580
Acquisitions of right-of-use assets			33				125			-			-			8			-			166
Increases from business combinations ^(4)^			278				93			-			-			-			-			371
Other income statement items
Depreciation of property, plant and equipment ^(2)^			1,109				252			1			18			42			-			1,422
Amortization of intangible assets			-				19			-			7			5			-			31
Depreciation of right-of-use assets			81				56			-			-			4			-			141
Reversal of impairment losses of property, plant and equipment			-				-			-			(9)			-			-			(9)
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 (12) and (1) of unproductive exploratory drillings as of June 30, 2026 and 2025, respectively.<br>
---	---
(4)	Corresponds to increases in property, plant, and equipment and intangible assets due to business combinations, see Notes 7<br>and 8 to the annual consolidated financial statements.
---	---

HORACIO DANIEL MARÍN

President

Table of Contents

	15
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise 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 and liabilities measured at fair value through profit or loss as of June 30, 2026 and December 31, 2025, and their allocation to their fair value hierarchy levels:

Financial assets

		As of June 30, 2026
		Level 1				Level 2			Level 3			Total
Investments in financial assets:
- Public securities			1,138				-			-			1,138
- Private securities - NO			18				-			-			18
			1,156				-			-			1,156
Cash and cash equivalents:
- Mutual funds			730				-			-			730
- Public securities			30				-			-			30
			760				-			-			760
			1,916				-			-			1,916
		As of December 31, 2025
		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

Financial liabilities

		As of June 30, 2026
		Level 1				Level 2			Level 3			Total
Other liabilities
- Liabilities for agreements			-				-			87			87
			-				-			87			87

As of December 31,2025, the Group had no financial liabilities measured at fair value through profit or loss.

For the measurement of financial liabilities classified within Level 3 of the fair value hierarchy as of June 30, 2026, the Group uses valuation techniques based on expected cash flows that consider future production projections and expected fluctuations in the international oil price.

During the six-month period ended June 30, 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 10,299 and 10,696 as of June 30, 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
		June 30, 2026			December 31, 2025
---	---	---	---	---	---	---
Net carrying amount of intangible assets			1,119			1,108
Provision for impairment of intangible assets			(40)			(40)
			1,079			1,068

HORACIO DANIEL MARÍN

President

Table of Contents

	16
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)
8.	INTANGIBLE ASSETS (cont.)
---	---

The evolution of the Group’s intangible assets for the six-month period ended June 30, 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			24				-				3				27
Increases from business combinations			-				-				-				-
Translation effect			-				-				(2)				(2)
Adjustment for inflation ^(1)^			-				-				15				15
Decreases, reclassifications and other movements			-				-				14				14
Accumulated amortization
Increases			13				-				18				31
Translation effect			-				-				(1)				(1)
Adjustment for inflation ^(1)^			-				-				13				13
Decreases, reclassifications and other movements			-				-				-				-
Cost			1,148				636				596				2,380
Accumulated amortization			770				-				491				1,261
Balance as of June 30, 2026			378				636				105				1,119
(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
---	---
		June 30, 2026				December 31, 2025
---	---	---	---	---	---	---	---	---
Net carrying amount of property, plant and equipment			21,157				19,926
Provision for obsolescence of materials and equipment			(431)				(484)
Provision for impairment of property, plant and equipment			(293)				(357)
			20,433				19,085

HORACIO DANIEL MARÍN

President

Table of Contents

	17
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)
9.	PROPERTY, PLANT AND EQUIPMENT (cont.)
---	---

Changes in Group’s property, plant and equipment for the six-month periods ended June 30, 2026 and as of the year ended December 31, 2025 are as follows:

		Land and<br>buildings			Mining<br>property,<br>wells and<br>related<br>equipment			Refinery<br>equipment<br>and<br>petrochemical<br>plants			Transportation<br>equipment			Materials and<br>equipment in<br>warehouse			Drilling and<br>work in<br>progress			Exploratory<br>drilling in<br>progress			Furniture,<br>fixtures and<br>installations			Selling<br>equipment			Infrastructure<br>for natural<br>gas<br>distribution			Other<br>property			Total
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			420			24			4			420			1,938			8			3			-			-			6			2,824
Increases from business combinations			-			-			-			-			-			-			-			-			-			-			-			-
Translation effect			(4)			-			-			-			(1)			-			-			(1)			-			(24)			(8)			(38)
Adjustment for inflation^(1)^			38			-			-			16			5			2			-			10			-			194			50			315
Decreases, reclassifications and other movements			13			1,134			387			24			(441)			(1,423)			1			8			36			10			7			(244)
Accumulated depreciation
Increases			14			1,105			201			62			-			-			-			18			37			13			57			1,507
Translation effect			(2)			-			-			(1)			-			-			-			(2)			-			(13)			(3)			(21)
Adjustment for inflation^(1)^			23			-			-			10			-			-			-			7			-			99			35			174
Decreases, reclassifications and other movements			-			(19)			-			(14)			-			-			-			-			-			-			(1)			(34)
Cost			1,372			29,250			10,473			1,053			1,257			5,928			23			938			1,638			1,500			977			54,409
Accumulated depreciation			738			21,629			6,820			460			-			-			-			851			1,152			787			815			33,252
Balance as of June 30, 2026			634			7,621			3,653			593			1,257			5,928			23			87			486			713			162			21,157
(1)	Corresponds to the adjustment for inflation of opening balances of property, plant and equipment of subsidiaries with the<br>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

President

Table of Contents

	18
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise 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 six-month periods ended June 30, 2026 and 2025, the rate of capitalization was 7.04% and 6.53%, respectively, and the amount capitalized amounted to 8 and 5, respectively.

Set forth present is the evolution of the provision for obsolescence of materials and equipment for the six-month period ended June 30, 2026 and as of the year ended December 31, 2025:

		Provision for obsolescenceof 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			16
Decreases charged to profit or loss			(38)
Applications due to utilization			(38)
Translation effect			-
Adjustment for inflation^(1)^			1
Reclassifications			6
Balance as of June 30, 2026			431
(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 six-month period ended June 30, 2026 and as of the year ended December 31, 2025:

		Provision for impairment ofproperty, 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)^			(66)
Translation effect			1
Adjustment for inflation^(2)^			1
Balance as of June 30, 2026			293
(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

President

Table of Contents

	19
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

10. RIGHT-OF-USE ASSETS

The evolution of the Group’s right-of-use assets for the six-month period ended June 30, 2026 and as of the year ended December 31, 2025 is as follows:

		$				$				$				$				$				$
		Land and<br>buildings				Exploitation<br>facilities and<br>equipment				Machinery<br>and<br>equipment				Gas<br>stations				Transportation<br>equipment				Total
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			-				282				19				-				61				362
Translation effect			-				-				-				-				-				-
Adjustment for inflation ^(1)^			-				-				-				4				-				4
Decreases, reclassifications and other movements			-				(20)				(90)				(9)				(7)				(126)
Accumulated depreciation
Increases			2				27				57				5				76				167
Translation effect			-				-				-				-				-				-
Adjustment for inflation ^(1)^			-				-				-				3				-				3
Decreases, reclassifications and other movements			-				(18)				(54)				(4)				(6)				(82)
Cost			45				848				576				106				815				2,390
Accumulated depreciation			39				544				398				80				640				1,701
Balance as of June 30, 2026			6				304				178				26				175				689
(1)	Corresponds to the adjustment for inflation of opening balances of right-of-use assets of subsidiaries with the peso as<br>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 June 30, 2026 and December 31, 2025:

		June 30, 2026				December 31, 2025
Amount of investments in associates			632				326
Amount of investments in joint ventures			1,424				1,284
			2,056				1,610

HORACIO DANIEL MARÍN

President

Table of Contents

	20
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

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

The main concepts which affected the value of the aforementioned investments during the six-month period ended June 30, 2026 and as of the year ended December 31, 2025, correspond to:

		$	****
		Investments in associates and 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 ^(3)^			(249)
Translation differences			(17)
Adjustment for inflation ^(1)^			18
Decrease of companies ^(2)^			(261)
Other movements ^(4)^			(71)
Balance as of December 31, 2025			1,610
Acquisitions and contributions			323
Capitalization in associates and joint ventures			-
Income on investments in associates and joint ventures			216
Distributed dividends ^(3)^			(104)
Translation differences			(1)
Adjustment for inflation ^(1)^			12
Decrease of companies			-
Other movements			-
Balance as of June 30, 2026			2,056
(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)	Includes 17 and 23 that were offset by trade liabilities as of June 30, 2026 and December 31, 2025,<br>respectively.
---	---
(4)	Corresponds to the decrease in the OLCLP and Refinor joint ventures, see Note 3 to the annual consolidated financial<br>statements.
---	---

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 six-month periods ended June 30, 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 six-month periods ended June 30,		For the six-month periods ended June 30,
	2026	2025	2026	2025
Net income	23	10	193	65
Other comprehensive income	11	-	-	10
Comprehensive income	34	10	193	75

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 ANDASSOCIATED LIABILITIES

The following table presents the main assets held for sale and associated liabilities as of June 30, 2026 and December 31, 2025:

		Upstream				Midstream andDownstream				Total
Balance as of June 30, 2026
Assets held for sale
Property, plant and equipment - Optimization plan of the conventional Upstream portfolio			426				-				426
Property, plant and equipment - Gas stations			-				6				6
		****	426	****		****	6	****		****	432	****
Liabilities directly associated with assets held for sale
Provision for hydrocarbon wells abandonment obligations - Optimization plan of the conventional Upstream<br>portfolio			975				-				975
Provision for environmental liabilities - Optimization plan of the conventional Upstream portfolio			2				-				2
Liabilities for concessions - Optimization plan of the conventional Upstream portfolio			4				-				4
		****	981	****		****	-	****		****	981	****

HORACIO DANIEL MARÍN

President

Table of Contents

	21
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise 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			1,013				-				1,013
Property, plant and equipment - Gas stations			-				6				6
		****	1,013	****		****	6	****		****	1,019	****
Liabilities directly associated with assets held for sale
Provision for hydrocarbon wells abandonment obligations - Optimization plan of the conventional Upstream<br>portfolio			1,172				-				1,172
Provision for environmental liabilities - Optimization plan of the conventional Upstream portfolio			5				-				5
Liabilities for concessions - Optimization plan of the conventional Upstream portfolio			4				-				4
		****	1,181	****		****	-	****		****	1,181	****

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.

The updates for the six-month period ended June 30, 2026, related to the assignment agreements that have met the agreed closing conditions and, as a result, the transaction was settled are described below:

●	Manantiales Behr

On May 5, 2026, Decree No. 407/2026 was published in the Official Gazette of the Province of Chubut, which authorized the assignment of 100% of YPF’s rights and obligations in the “Manantiales Behr” exploitation concessions, “El Trébol - Caleta Córdova”, “Km. 9 - Caleta Córdova” and “Manantiales Behr - Cañadón Perdido” transportation concessions and materials associated with such concessions, located in the Province of Chubut, in favor of San Benito Upstream S.A.U. (“San Benito”) and PECOM Servicios Energía S.A.U. (“PECOM”).

On May 21, 2026, after the fulfillment of the closing conditions by YPF, San Benito and PECOM, the transfer of 100% of the rights and obligations of YPF in such exploitation concession in favor of San Benito and PECOM was formalized.

The updates for the six-month period ended June 30, 2026, related to the assignment agreements that remain subject to the fulfillment of the agreed closing conditions are described below:

●	Cerro Fortunoso and Valle del Río Grande

On June 5, 2026, Resolution No. 103/2026 of the Ministry of Energy and Environment was published in the Official Gazette of the Province of Mendoza, which authorized the transfer of 100% of the rights and obligations of YPF in the “Cerro Fortunoso” and “Valle del Río Grande” exploitation concessions in favor of Venoil S.A. As of the date of issuance of these condensed interim consolidated financial statements, the assignment agreement is subject to the fulfillment of closing conditions.

HORACIO DANIEL MARÍN

President

Table of Contents

	22
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

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

12.a.2) Accounting matters

In relation to the assignment agreements that have met the agreed closing conditions during the six-month period ended June 30, 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 loss 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 133.
---	---
-	The derecognition of the carrying amount of the assets held for sale net of the liabilities directly associated with<br>assets held for sale of 195.
---	---

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 57 in the “Provision for operating optimizations” line under “Other operating results, net” line item in the statement of comprehensive income.

13. INVENTORIES

		June 30, 2026			December 31, 2025
Finished goods			1,050	^(2)^		921
Crude oil and natural gas			455			393	^(2)^
Products in process			55			39
Raw materials, packaging materials and others			83			94
			1,643	^(1)^		1,447	^(1)^
(1)	As of June 30, 2026, and December 31, 2025, the carrying amount of inventories does not exceed their net<br>realizable value.
---	---
(2)	Includes 8 and 21 of provision for inventories write-down as of June 30, 2026 and December 31, 2025,<br>respectively. See Note 2.b.8) to the annual consolidated financial statements.
---	---

14. OTHER RECEIVABLES

		June 30, 2026				December 31, 2025
		Non-current		Current		Non-current		Current
Receivables from services, sales of other assets and other advance payments		209		147		85			502	^(3)^
Tax credit and export rebates		104		92		67			99
Loans and balances with related parties ^(1)^		190		45		200			36
Collateral deposits		-		5		-			15
Prepaid expenses		43		58		48			39
Advances and loans to employees		-		6		-			6
Advances to suppliers and custom agents ^(2)^		6		39		6			90
Receivables with partners in JO and Consortiums		230		198		232			299
Insurance receivables		-		7		-			-
Miscellaneous		51		69		49			73
		833		666		687			1,159
Provision for other doubtful receivables		(36)		-		(39)			-
		797		666		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>
---	---

HORACIO DANIEL MARÍN

President

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	23
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

15. TRADE RECEIVABLES

		June 30, 2026						December 31, 2025
		Non-current			Current			Non-current			Current
Accounts receivable and related parties ^(1) (2)^			13			2,166			12			1,728
Provision for doubtful trade receivables			(7)			(79)			(7)			(74)
			6			2,087			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 six-month period ended June 30, 2026 and for the fiscal year ended December 31, 2025:

		Provision for doubtful trade 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			-			16
Decreases charged to income			-			(7)
Applications due to utilization			-			(2)
Net exchange and translation differences			-			(2)
Balance as of June 30, 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 INFINANCIAL ASSETS

		June 30, 2026			December 31, 2025
Investments at fair value through profit or loss
Public securities			1,138	^(1)^		250
Private securities - NO			18	^(2)^		12
			1,156			262
(1)	See Note 37.
---	---
(2)	Includes 7 of NO from the BNA.
---	---

HORACIO DANIEL MARÍN

President

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	24
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

17. CASH AND CASH EQUIVALENTS

		June 30, 2026			December 31, 2025
Cash and banks ^(1)^			322			198
Short-term investments ^(2)^			236			329
Financial assets at fair value through profit or loss<br>^(3)^			760			406
			1,318			933
(1)	Includes balances granted as collateral, see Note 34.d) to the annual consolidated financial statements.<br>
---	---
(2)	Includes 29 and 13 of term deposits and other investments with BNA as of June 30, 2026 and December 31, 2025,<br>respectively.
---	---
(3)	See Note 7.
---	---

18. PROVISIONS

Changes in the Group’s provisions for the six-month period ended June 30, 2026 and for the fiscal year ended December 31, 2025 are as follows:

		Provision for lawsuits andcontingencies									Provision forenvironmental liabilities						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			33					-				65			-			30				-				128			-
Decreases charged to income			(1)					-				(1)			-			(6)				-				(8)			-
Increases from business combinations			-					-				-			-			-				-				-			-
Applications due to utilization			-					(8)				-			(44)			-				(5)				-			(57)
Net exchange and translation differences			(2)					-				-			-			-				-				(2)			-
Result from net monetary position ^(1)^			-					-				-			-			-				-				-			-
Reclassifications and other movements			(8)					8				(54)			53			(5)				3				(67)			64
Balance as of June 30, 2026			133					20				78			127			450				89				661			236
(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 six-month periods ending June 30, 2026 and 2025 is as follows:

		For the six-month periods ended June 30,
		2026			2025
Current income tax			(783)			(33)
Deferred income tax			(53)			(97)
			(836)			(130)

HORACIO DANIEL MARÍN

President

Table of Contents

	25
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

19. INCOME TAX (cont.)

The effective income tax rate projected at the end of the fiscal year amounts to 34.12%. 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 “Regularization plan associated with the calculation of tax loss carryforwards” section to the annual consolidated financial statements.

As of June 30, 2026 and December 31, 2025 the Group has classified as deferred tax asset 24 and 9, respectively, and as deferred tax liability 446 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 June 30, 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

		June 30, 2026						December 31, 2025
		Non-current			Current			Non-current			Current
VAT			-			81			-			41
Withholdings and perceptions			-			83			-			77
Royalties			-			77			-			51
Fuels tax			12			132			18			14
Turnover tax			-			9			-			7
Miscellaneous			-			19			-			27
			12			401			18			217

21. SALARIES AND SOCIAL SECURITY

		June 30, 2026						December 31, 2025
		Non-current			Current			Non-current			Current
Salaries and social security			-			75			-			73
Bonuses and incentives provision			-			135			-			166
Cash-settled share-based payments provision ^(1)^			130			-			58			-
Vacation provision			-			70			-			61
Provision for severance indemnities ^(2)^			-			13			-			31
Miscellaneous			4			7			5			5
			134			300			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.2) to the annual consolidated<br>financial statements.
---	---

22. LEASE LIABILITIES

The evolution of the Group’s leases liabilities for the six-month period ended June 30, 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			362
Financial accretions			25
Decreases of leases			(50)
Payments			(194)
Balance as of June 30, 2026			714

HORACIO DANIEL MARÍN

President

Table of Contents

	26
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

23. LOANS

											June 30, 2026							December 31, 2025
		Interest rate^(1)^						Maturity			Non-current				Current			Non-current				Current
Pesos:
Financial loans			43.04	%	-		43.04%		2026-2027			18				31			61				24
Account overdrafts					-				-			-				-			-				3
												18				31			61				27
Currencies other than the peso:
NO ^(2) (3)^			0.00	%	-		10.00%		2026-2047			7,666				1,284			7,466				1,486
Exports pre-financing			2.00	%	-		8.65%		2026-2029			464				18	^(5)^		153				197
Imports financing			7.46	%	-		7.60%		2026			-				11			-				20
Financial loans ^(4)^			3.00	%	-		7.85%		2026-2030			373				233			546				561
Stock market promissory notes			3.95	%	-		3.95%		2026			-				30			-				64
												8,503				1,576			8,165				2,328
												8,521				1,607			8,226				2,355
(1)	Nominal annual interest rate as of June 30, 2026.
---	---
(2)	Disclosed net of 351 and 175 corresponding to YPF’s own NO repurchased through open market transactions, as of<br>June 30, 2026 and December 31, 2025, respectively.
---	---
(3)	Includes 1,043 and 1,475 as of June 30, 2026 and December 31, 2025, respectively, of nominal value that will be<br>canceled in pesos at the applicable exchange rate in accordance with the terms of the series issued.
---	---
(4)	Includes 227 and 233 of loans granted by BNA as of June 30, 2026 and December 31, 2025, respectively.<br>
---	---
(5)	Includes 3 as of June 30, 2026 of pre-financing of exports granted by BNA.
---	---

Set forth below is the evolution of the loans for six-month period ended June 30, 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			1,110
Payments of loans			(1,573)
Payments of interest			(372)
Account overdrafts, net			(3)
Accrued interest ^(1)^			383
Net exchange and translation differences			2
Result from net monetary position ^(2)^			-
Increases from business combinations			-
Balance as of June 30, 2026			10,128
(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

President

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	27
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

23. LOANS (cont.)

Details regarding the NO of the Group are as follows:

																						June 30, 2026						December 31, 2025
Month		Year			Principal value ^(3)^						Class			Interest rate^(1)^					Principalmaturity			Non-current			Current			Non-current			Current
YPF									****
-			1998			U.S. dollar		15				-			Fixed		10.00%			2028			15			-			15			-
July, December			2017			U.S. dollar		644				Class LIII			Fixed		6.95%			2027			647			19			648			19
December			2017			U.S. dollar		537				Class LIV			Fixed		7.00%			2047			530			1			530			2
June			2019			U.S. dollar		399				Class I			Fixed		8.50%			2029			398			-			397			-
February			2021			U.S. dollar		748				Class XVII			Fixed		9.00%			2029			429			216			537			216
February			2021			U.S. dollar		576				Class XVIII			Fixed		7.00%			2033			559			11			558			11
July			2021			U.S. dollar		384				Class XX			Fixed		5.75%			2032			302			64			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			192			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			-			127			-			370
September			2024			U.S. dollar		540				Class XXXI			Fixed		8.75%			2031			1,046			27			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			24			-			25			-
January ^(4)^			2025			U.S. dollar		1,632				Class XXXIV			Fixed		8.25%			2034			1,624			63			1,080			42
February			2025			U.S. dollar		140				Class XXXV			Fixed		6.25%			2027			-			141			140			1
May ^(2)^			2025			U.S. dollar		140				Class XXXVII			Fixed		7.00%			2027			-			141			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			153			9			155			8
August ^(2)^			2025			U.S. dollar		51				Class XL			Fixed		7.50%			2028			50			-			50			-
October ^(2)^			2025			U.S. dollar		99				Class XLI			Fixed		6.00%			2027			-			100			98			1
December ^(2)^			2025			U.S. dollar		361				Class XLII			Fixed		7.00%			2029			358			2			194			1
April ^(4)^			2026			U.S. dollar		122				Class XLIII			Fixed		5.50%			2030			122			1			-			-
																							7,666			1,284			7,466			1,486
(1)	Nominal annual interest rate as of June 30, 2026.
---	---
(2)	During the six-month period ended June 30, 2026, the Group has fully complied with the use of proceeds disclosed in<br>the corresponding pricing supplements.
---	---
(3)	Total nominal value issued net of the nominal values canceled through exchanges or repurchases, expressed in millions.<br>
---	---
(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

President

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	28
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

24. OTHER LIABILITIES

		June 30, 2026						December 31, 2025
		Non-current			Current			Non-current			Current
Liabilities for concessions and assignment agreements			245			175			91			162
Liabilities for contractual claims ^(1)^			7			56			54			56
Provision for operating optimizations ^(2)^			-			50			-			22
Liabilities for agreements^(3)^			294			455			227			158
Miscellaneous			1			1			1			1
			547			737			373			399
(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 liabilities related to (i) the assignment of the exploitation concessions in the Province of<br>Santa Cruz within the context of the Mature Fields Project (see Note 11.a.2) to the annual consolidated financial statements) and (ii) the asset exchange between YPF and Pluspetrol, see Note 4.
---	---

25. ACCOUNTS PAYABLE

		June 30, 2026						December 31, 2025
		Non-current			Current			Non-current			Current
Trade payable and related parties ^(1)^			4			2,228			4			2,172
Guarantee deposits			1			3			1			3
Payables with partners of JO and Consortiums			-			38			1			48
Miscellaneous			-			17			-			15
			5			2,286			6			2,238
(1)	See Note 37 for information about related parties.
---	---

26. REVENUES

		For the six-month periods ended June 30,
		2026			2025
Revenue from contracts with customers			11,490			9,187
National Government incentives ^(1)^			30			62
			11,520			9,249
(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 six-month period ended June 30, 2026
		Upstream			Midstream andDownstream			LNG andIntegrated Gas			New<br>Energies			CentralAdministrationand Others		Total
Diesel			-			4,225			-			-			-		4,225
Gasolines			-			2,503			-			-			-		2,503
Natural gas ^(1)^			7			14			758			347			-		1,126
Crude oil			17			563			-			-			-		580
Jet fuel			-			620			-			-			-		620
Lubricants and by-products			-			200			-			-			-		200
LPG			-			209			-			-			-		209
Fuel oil			-			69			-			-			-		69
Petrochemicals			-			347			-			-			-		347
Fertilizers and crop protection products			-			109			-			-			-		109
Flours, oils and grains			-			373			-			-			-		373
Asphalts			-			58			-			-			-		58
Goods for resale at gas stations			-			60			-			-			-		60
Income from services			-			-			-			-			64		64
Income from construction contracts			-			-			-			-			162		162
Virgin naphtha			-			120			-			-			-		120
Petroleum coke			-			148			-			-			-		148
LNG regasification			-			22			-			-			-		22
Other goods and services			28			194			7			89			177		495
			52			9,834			765			436			403		11,490

HORACIO DANIEL MARÍN

President

Table of Contents

	29
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

26. REVENUES (cont.)

		For the six-month period ended June 30, 2025
		Upstream			Midstreamand Downstream			LNG and Integrated Gas			New Energies			Central Administration and Others			Total
Diesel			-			3,118			-			-			-			3,118
Gasolines			-			1,960			-			-			-			1,960
Natural gas ^(1)^			19			6			744			335			-			1,104
Crude oil			1			510			-			-			-			511
Jet fuel			-			379			-			-			-			379
Lubricants and by-products			-			210			-			-			-			210
LPG			-			167			-			-			-			167
Fuel oil			-			67			-			-			-			67
Petrochemicals			-			268			-			-			-			268
Fertilizers and crop protection products			-			100			-			-			-			100
Flours, oils and grains			-			313			-			-			-			313
Asphalts			-			52			-			-			-			52
Goods for resale at gas stations			-			62			-			-			-			62
Income from services			-			-			-			1			69			70
Income from construction contracts			-			-			-			-			188			188
Virgin naphtha			-			75			-			-			-			75
Petroleum coke			-			109			-			-			-			109
LNG regasification			-			23			-			-			-			23
Other goods and services			29			152			5			81			144			411
			49			7,571			749			417			401			9,187
(1)	Includes 778 and 776 corresponding to sales of natural gas produced by the Company for the six-month periods ended<br>June 30, 2026 and 2025, respectively.
---	---

Sales channels

		For the six-month period ended June 30, 2026
		Upstream			Midstreamand Downstream			LNG and Integrated Gas			New Energies			Central Administration and Others			Total
Gas stations			-			4,103			-			-			-			4,103
Power plants			-			-			222			136			-			358
Distribution companies			-			-			189			-			-			189
Retail distribution of natural gas			-			-			-			209			-			209
Industries, transport and aviation			7			2,430			352			39			-			2,828
Agriculture			-			1,123			-			-			-			1,123
Petrochemical industry			-			422			-			-			-			422
Trading			-			1,154			-			-			-			1,154
Oil companies			17			373			-			-			-			390
Commercialization of LPG			-			58			-			-			-			58
Other sales channels			28			171			2			52			403			656
			52			9,834			765			436			403			11,490
		For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
		Upstream			Midstreamand Downstream			LNG and Integrated Gas			New Energies			Central Administration and Others			Total
Gas stations			-			3,317			-			-			-			3,317
Power plants			-			11			221			27			-			259
Distribution companies			-			-			207			-			-			207
Retail distribution of natural gas			-			-			-			212			-			212
Industries, transport and aviation			20			1,865			321			141			-			2,347
Agriculture			-			879			-			-			-			879
Petrochemical industry			-			348			-			-			-			348
Trading			-			869			-			-			-			869
Oil companies			-			93			-			-			-			93
Commercialization of LPG			-			54			-			-			-			54
Other sales channels			29			135			-			37			401			602
			49			7,571			749			417			401			9,187

HORACIO DANIEL MARÍN

President

Table of Contents

	30
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

26. REVENUES (cont.)

Target market

Sales in the domestic market amounted to 9,518 and 7,712 for the six-month periods ended June 30, 2026 and 2025, respectively.

Sales in the international market amounted to 1,972 and 1,475 for the six-month periods ended June 30, 2026 and 2025, respectively.

●  Contractbalances

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

		June 30, 2026						December 31, 2025
		Non-current			Current			Non-current			Current
Credits for contracts included in the item of “Trade receivables”			12			2,108			11			1,678
Contract assets			-			7			-			3
Contract liabilities			236			192			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 six-month periods ended June 30, 2026 and 2025 the Group has recognized 57 and 54, 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 six-month periods ended June 30,
		2026			2025
Inventories at beginning of year			1,447			1,546
Purchases			2,918			2,236
Production costs ^(1)^			4,062			4,457
Translation effect			1			(10)
Inventories write-down ^(3)^			(8)			-
Adjustment for inflation ^(2)^			7			9
Other movements ^(4)^			13			-
Inventories at end of the period			(1,643)			(1,482)
			6,797			6,756
(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.
---	---
(3)	See Note 13.
---	---
(4)	Includes, mainly, collection of receivables settled in kind arising from the sale of assets.
---	---

HORACIO DANIEL MARÍN

President

Table of Contents

	31
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise 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 six-month periods ended June 30, 2026 and 2025:

		For the six-month period ended June 30, 2026
		Production  costs ^(2)^			Administrative expenses			Selling  expenses			Exploration  expenses			Total
Salaries and social security taxes			441			238			89			7			775
Fees and compensation for services			33			141			26			-			200
Other personnel expenses			135			19			8			1			163
Taxes, charges and contributions			59			99			523	^(1)^		-			681
Royalties, easements and fees			625			-			1			1			627
Insurance			21			2			-			-			23
Rental of real estate and equipment			60			2			7			-			69
Survey expenses			-			-			-			2			2
Depreciation of property, plant and equipment			1,361			26			54			-			1,441
Amortization of intangible assets			19			12			-			-			31
Depreciation of right-of-use assets			143			-			6			-			149
Industrial inputs, consumable materials and supplies			182			6			5			1			194
Operation services and other service contracts			101			1			32			4			138
Preservation, repair and maintenance			554			17			17			6			594
Unproductive exploratory drillings			-			-			-			12			12
Transportation, products and charges			290			-			257			-			547
Provision for doubtful receivables			-			-			7			-			7
Publicity and advertising expenses			-			37			16			-			53
Fuel, gas, energy and miscellaneous			38			14			42			3			97
			4,062			614			1,090			37			5,803
(1)	Includes 160 corresponding to export withholdings and 328 corresponding to turnover tax.
---	---
(2)	Includes 19 corresponding to research and development activities.
---	---
		For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
		Production  costs ^(2)^			Administrative expenses			Selling  expenses			Exploration  expenses			Total
Salaries and social security taxes			532			143			75			2			752
Fees and compensation for services			55			131			23			-			209
Other personnel expenses			151			17			7			2			177
Taxes, charges and contributions			36			102			453	^(1)^		-			591
Royalties, easements and fees			543			-			1			3			547
Insurance			35			2			1			-			38
Rental of real estate and equipment			128			-			7			-			135
Survey expenses			-			-			-			21			21
Depreciation of property, plant and equipment			1,350			22			50			-			1,422
Amortization of intangible assets			21			10			-			-			31
Depreciation of right-of-use assets			134			-			7			-			141
Industrial inputs, consumable materials and supplies			258			4			6			2			270
Operation services and other service contracts			172			8			27			8			215
Preservation, repair and maintenance			749			16			19			11			795
Unproductive exploratory drillings			-			-			-			1			1
Transportation, products and charges			246			-			244			-			490
Provision for doubtful receivables			-			-			22			-			22
Publicity and advertising expenses			-			29			20			-			49
Fuel, gas, energy and miscellaneous			47			7			45			1			100
			4,457			491			1,007			51			6,006
(1)	Includes 137 corresponding to export withholdings and 282 corresponding to turnover tax.
---	---
(2)	Includes 16 corresponding to research and development activities.
---	---

HORACIO DANIEL MARÍN

President

Table of Contents

	32
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

29. OTHER NET OPERATING RESULTS

		For the six-month periods ended June 30,
		2026				2025
Lawsuits			(30)				(15)
Export Increase Program ^(1)^			-				19
Result from sale of assets ^(2)^			4				182
Result from changes in fair value of assets held for sale<br>^(2)^			(133)				(244)
Provision for severance indemnities ^(2)^			6				(26)
Provision for operating optimizations ^(2)^			(57)				(30)
Provision for obsolescence of materials and equipment<br>^(2)^			20				(259)
Result from revaluation of companies ^(3)^			-				45
Result from liabilities for agreements			(82)				-
Other insurance income			8				-
Miscellaneous			(19)				(21)
			(283)				(349)
(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).
---	---
(3)	See Note 3 to the annual consolidated financial.
---	---

30. NET FINANCIAL RESULTS

		For the six-month periods ended June 30,
		2026				2025
Financial income
Interest on cash and cash equivalents and investments in financial assets			18				15
Interest on trade receivables			36				20
Other financial income			41				9
Total financial income			95				44
Financial costs
Loan interest			(377)				(321)
Hydrocarbon well abandonment provision financial accretion<br>^(1)^			(100)				(172)
Other financial costs			(139)				(71)
Total financial costs			(616)				(564)
Other financial results
Exchange differences generated by loans			(2)				(1)
Exchange differences generated by cash and cash equivalents and investments in financial<br>assets			(9)				(39)
Other exchange differences, net			40				36
Result on financial assets at fair value through profit or loss			93				54
Result from derivative financial instruments			(6)				2
Result from net monetary position			(52)				(33)
Total other financial results			64				19
Total net financial results			(457)				(501)
(1)	Includes 70 and 113 corresponding to the financial accretion of liabilities directly associated with assets held for sale<br>for the six-month periods ending June 30, 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 June 30, 2026 and December 31, 2025, and expenses for the six-month periods ended June 30, 2026 and 2025, of JO and Consortiums in which the Group participates are as follows:

		June 30, 2026			December 31, 2025
Non-current assets ^(1)^			7,201			6,936
Current assets			331			337
Total assets			7,532			7,273
Non-current liabilities			249			245
Current liabilities			701			557
Total liabilities			950			802
(1)	Does not include charges for impairment of property, plant and equipment because they are recorded by the<br>partners participating in the JO and Consortiums.
---	---
		For the six-month periods ended June 30,
---	---	---	---	---	---	---
		2026			2025
Production cost			1,495			1,317
Exploration expenses			5			6

HORACIO DANIEL MARÍN

President

Table of Contents

	33
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

32. SHAREHOLDERS’ EQUITY

As of June 30, 2026, the Company’s capital amounts to 3,916 and treasury shares amount to 17 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 and 1 vote per share. These shares are fully subscribed, paid-in and authorized for stock exchange listing. See “Stock split on YPF’s ordinary shares” section.

As of June 30, 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 six-month period ended June 30, 2026, the Company has repurchased 461,311 of its own shares issued for an amount of 27 plus commissions, for purposes of compliance with the share-based benefit plans (see Note 38). During the six-month period ended June 30, 2025, the Company has not repurchased any of its own shares.

On April 30, 2026, the Shareholders’ Meeting was held, which approved the statutory financial statements of YPF (see Note 2.b)) for the fiscal year ended December 31, 2025, and, in addition, in relation to the retained earnings as of December 31, 2025, approved: (i) completely release the reserve for purchase of treasury shares and the reserve for investments; (ii) absorb accumulated losses in unappropriated retained earnings and losses up to the amount of 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.

Stock split on YPF’s ordinary shares

The Shareholders’ Meeting aforementioned approved the change of the par value of the Company’s shares from $ 10 (ten pesos) to $ 1 (one peso) per share, which means that for every share with a par value of $ 10 outstanding, 10 shares with a par value of $1 each were issued, while the Company’s capital stock remains unchanged. Effective August 4, 2026, the distribution of shares and the change in par value (“Split”) took effect simultaneously. In accordance with the aforementioned, after the Split, the Company’s capital remains at 3,933, represented by 3,933,127,930 book-entry shares of common stock with a par value of $ 1 each. Likewise, the Split did not change the proportion of each shareholder’s equity interest or their economic or voting rights, but only changed the number of shares outstanding and their par value per share.

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 six-month periods ended June 30,
		2026			2025
Net profit			1,605			34
Weighted average number of shares outstanding			3,918,520,757			3,922,052,100
Basic and diluted earnings per share			0.41			0.01

In accordance with IAS 33, the calculation of basic and diluted earnings per share was adjusted retrospectively to include the effect of the stock split, see Note 32 “Stock split on YPF’s ordinary shares” section.

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 ASSETS AND LIABILITIES

Contingent assets and liabilities are described in Note 33 to the annual consolidated financial statements. Updates for the six-month period ended June 30, 2026, are described below:

● AsociaciónSuperficiarios de la Patagonia (“ASSUPA”)

Concessionary companies in the Neuquina basin areas

On May 21, 2026, the CSJN issued a final ruling dismissing the lawsuit filed by ASSUPA, finding that it did not meet the minimum requirements necessary to ensure an adequate defense in court. Based on this judgment, ASSUPA’s claim has been definitively dismissed in these proceedings.

HORACIO DANIEL MARÍN

President

Table of Contents

	34
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

34. CONTINGENT ASSETS AND LIABILITIES (cont.)

●	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.

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.

On May 8, 2026, Plaintiffs sought en banc rehearing of the Court of Appeals’ March 27, 2026 decision.

On June 2, 2026, the Court of Appeals denied Plaintiffs’ petition for rehearing en banc filed on May 8, 2026.

On June 10, 2026, the Court of Appeals’ mandate issued, concluding the appeal and remanding the case to the District Court for further proceedings in accordance with the Court of Appeals’ 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.

HORACIO DANIEL MARÍN

President

Table of Contents

	35
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

35. CONTRACTUAL COMMITMENTS

Contractual commitments are described in Note 34 to the annual consolidated financial statements. Updates for the six-month period ended June 30, 2026, are described below:

CENCH in the Province of Neuquén

Within the framework of the asset exchange agreement between YPF and Pluspetrol (see Note 4), on May 29, 2026, through several decrees issued by the Executive Branch of the Province of Neuquén, the granting of the CENCH in the “Meseta Buena Esperanza I and II”, “Aguada Villanueva Norte” and “Las Tacanas I and II” blocks was approved for a term of 35 years. As of the date of issuance of these condensed interim consolidated financial statements, YPF holds 100% interest in those blocks, and the commitments undertaken include investments and payments related to infrastructure and corporate social responsibility contributions.

Additionally, on June 4, 2026, an Agreement was executed with the Province of Neuquén in connection with the LNG capacity development project in Argentina (“Argentina LNG Project”), which establishes certain benefits and obligations, including: (i) a reduction in the royalty rate applicable to natural gas; (ii) an exemption from the turnover tax; (iii) the establishment of dispute resolution mechanisms through arbitration by the International Chamber of Commerce of Paris and, for certain matters, before the local courts of Neuquén; and (iv) tax stability, among others. Accordingly, the concessionaire’s main obligation consists of carrying out infrastructure projects in the Province of Neuquén for a total amount of 175. As of the date of issuance of these condensed interim consolidated financial statements, the Agreement is subject to the fulfillment of closing conditions, including the signing of the Final Investment Decision (“FID”) for the Argentina LNG Project.

Argentina LNG Project

In June 2026, YPF signed agreements with Eni Argentina LNG B.V. (“Eni”) and XRG ARG LIMITED (“XRG”) to incorporate these companies in the development of the Argentina LNG Project through the sale of equity interests in the subsidiary UPCO ARLNG I S.A.U. (“UPCO ARLNG”), a company wholly owned by YPF, which will hold the “Meseta Buena Esperanza I and II”, “Aguada Villanueva Norte”, and “Las Tacanas I and II” blocks. As of the date of issuance of these condensed interim consolidated financial statements, these agreements are subject to the fulfillment of closing conditions, including the regulatory authority’s approval of the transfer of these YPF blocks to UPCO ARLNG.

Within this context, Eni and XRG will acquire 32% of UPCO ARLNG’s capital stock, respectively, while YPF will retain a 36% of the capital stock. As of the closing date of this transaction, the aforementioned blocks located in the Vaca Muerta formation will be dedicated to the development of the Argentina LNG Project.

The Argentina LNG Project is an integrated initiative that combines the development of unconventional natural gas resources in the Vaca Muerta formation with midstream and liquefaction infrastructure, with the objective of supplying liquefied natural gas to international markets.

36. MAIN REGULATIONS

Main regulations are described in Note 35 to the annual consolidated financial statements. Updates for the six-month period ended June 30, 2026, are described below:

● Regulations applicable to the Downstream activities

On July 22, 2026, Resolution SE No. 166/2026 was published, establishing the “Export operations registry,” intended to record notifications, objections, and certificates of free export, and repeals Decree No. 645/2002 and Resolutions SE No. 303/1994, SRH No. E-241/2017, and SE No. 175/2023.

The Resolution establishes that exports of crude oil, gasoline (except aviation), diesel, propane, butane, and LPG must be reported. The Undersecretariat of Hydrocarbons will be the authority responsible for granting or objecting to certificates of free export, and may object to the export (in whole or in part) based solely on technical and/or economic grounds arising from the procedure for the export of liquid hydrocarbons and their derivatives set forth in Resolution SE No. 166/2026.

HORACIO DANIEL MARÍN

President

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	36
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

36. MAIN REGULATIONS (cont.)

● 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.

● Investment incentive programs

On June 26, 2026, Resolution No. 873/2026 of the Ministry of Economy was published, approving the Group’s participation in the Large Investment Incentive Regime (“RIGI”) for the following project:

-	San Matías Pipeline Project, through our subsidiary Sur Inversiones Energéticas, for the construction of a<br>dedicated natural gas pipeline to transport natural gas for liquefaction.

● 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.

● Export duties

On June 3, 2026, Decree No. 423/2026 was published, which established a gradual and permanent reduction scheme in export duty on products such as soybean, soybean products such as soybean oil and soybean meal, and grains such as wheat, corn and sorghum. The Decree established a phased reduction in the rates depending on the product: (i) in the case of soybean, the rate will begin to be reduced monthly starting in January 2027 until it reaches 15.0% in December 2028; (ii) for soybean byproducts such as soybean oil and soybean meal, rates will begin to decrease monthly starting in January 2027 until they reach 14.0% in December 2028; (iii) for corn, the rate will begin to decrease quarterly starting in January 2027 until it reaches 5.5% in December 2028; and (iv) for wheat, the rate was reduced once in June 2026, settling at 5.5%.

The dates indicated correspond to the date of publication in the respective Official Gazettes, unless otherwise indicated.

HORACIO DANIEL MARÍN

President

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	37
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

37. BALANCES AND TRANSACTIONS WITH RELATED PARTIES

The tables below present the balances with associates and joint ventures as of June 30, 2026 and December 31, 2025:

		June 30, 2026
		Other receivables						Tradereceivables			Investments infinancial assets			Accountspayable			Contractliabilities			Contractassets
		Non-Current			Current			Current			Current			Current			Current			Current
Joint Ventures:
YPF EE			-			7			15			4			37			-			-
Profertil ^(1)^			-			-			-			-			-			-			-
MEGA			-			-			78			-			7			-			5
Refinor ^(1)^			-			-			-			-			-			-			-
CT Barragán			-			-			15			-			-			-			-
OTA			-			-			-			-			2			-			-
			-			7			108			4			46			-			5
Associates:
CDS			-			-			31			-			-			-			-
YPF Gas			-			6			20			-			2			-			-
Oldelval			146			24			-			3			15			-			-
Termap			-			-			-			-			3			-			-
GPA			-			-			-			-			2			-			-
OTAMERICA			44			2			-			-			5			-			-
Gas Austral			-			-			-			-			-			-			-
VMOS			-			6			47			-			-			68			-
			190			38			98			3			27			68			-
			190			45			206			7			73			68			5
		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)^			-			-			-			-			-			-			-
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

President

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	38
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise indicated)

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

The table below presents the transactions with associates and joint ventures for the six-month periods ended June 30, 2026 and 2025:

		For the six-month period ended June 30,
		2026									2025
		Revenues			Costs and expenses			Net interest income (loss)			Revenues			Costs and expenses			Net interest income (loss)
Joint Ventures:
YPF EE			19			62			-			11			68			-
Profertil ^(1)^			-			-			-			39			44			-
MEGA			161			15			-			186			1			-
Refinor ^(1)^			-			-			-			33			5			-
CT Barragán			12			-			-			-			-			-
OTA			-			9			-			-			12			-
			192			86			-			269			130			-
Associates:
CDS			41			-			-			5			-			-
YPF Gas			46			1			1			44			2			-
Oldelval			-			71			-			-			47			-
Termap			-			11			-			-			11			-
GPA			-			12			-			-			11			-
OTAMERICA			-			24			-			-			27			-
Gas Austral			1			-			-			2			-			-
VMOS			78			-			-			22			-			-
			166			119			1			73			98			-
			358			205			1			342			228			-
(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 ^(12)^						Transactions
			Receivables / (Liabilities)						Income / (Costs)
			June 30, 2026			December 31, 2025			For the six-month periods ended June 30,
Client / Suppliers		Ref.							2026			2025
SE		(1)(11)		50			41			27			57
SE		(2)(11)		2			1			2			3
SE		(3)(11)		3			4			1			2
SE		(4)(11)		5			5			-			-
Secretary of Transport		(5)(11)		3			4			-			-
CAMMESA		(6)		88			87			253			231
CAMMESA		(7)		(2)			(1)			(10)			(5)
ENARSA		(8)		149			127			126			134
ENARSA		(9)		(39)			(33)			(25)			(21)
Aerolíneas Argentinas S.A.		(10)		63			33			194			144
(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)	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.
---	---
(4)	Compensation by Decree No. 1,053/2018, see Note 35.c.1) to the annual consolidated financial statements.<br>
---	---
(5)	Compensation for providing diesel to public transport of passengers at a differential price, see Note 36 to the annual<br>consolidated financial statements.
---	---
(6)	Sales of fuel oil, diesel, natural gas and transportation and distribution services.
---	---
(7)	Purchases of electrical energy.
---	---
(8)	Sales of natural gas and provision of regasification service of LNG and construction inspection service.<br>
---	---
(9)	Purchases of natural gas and crude oil.
---	---
(10)	Sales of jet fuel.
---	---
(11)	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.
---	---
(12)	Do not include, if applicable, the provision for doubtful trade receivables.
---	---

HORACIO DANIEL MARÍN

President

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	39
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United States dollars, or as otherwise 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 June 30, 2026, the Group holds Bonds of the Argentine Republic 2029 and 2030, National Treasury Bills issued by the National Government 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 six-month periods ended June 30, 2026 and 2025, YPF and CHNC carried out transactions such as the purchases of crude oil by YPF for 25 and 240, respectively, among others. These transactions were consummated in accordance with the general and regulatory conditions of the market. The net balance payable to CHNC as of June 30, 2026 and December 31, 2025 amounts to 1 and 62 respectively. 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 six-month periods ended June 30, 2026 and 2025:

		For the six-month periods endedJune 30,
		2026			2025
Short-term benefits ^(1)^			21			14
Long-term Plan - Value Generation Plan			59			5
			80			19
(1)	Does not include social security contributions of 5 and 3 for the six-month periods ended June 30, 2026 and 2025,<br>respectively.
---	---
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 3 and 2 for the six-month periods ended June 30, 2026 and 2025, respectively.

Short-term benefit programs

The amount charged to expense related to the short-term benefit programs was 142 and 89 for the six-month periods ended June 30, 2026 and 2025 respectively.

Long-term Plan

The amount charged to expense in relation to these share-based benefit plans was 7 and 5 to be settled in equity instruments, for the six-month periods ended June 30, 2026 and 2025, respectively.

Value Generation Plan

As of June 30, 2026, there are 4.6 million number of PSARs outstanding with and a weighted average fair value of US$ 28.06 per PSARs. The charge to expense related to the Value Generation Plan was 73 and 1, for the six-month periods ended June 30, 2026 and 2025, respectively. As of December 31, 2025, weighted average fair value was US$ 20.84 per PSARs.

Note 2.b.11) to the annual consolidated financial statements describes the accounting policies related to the Long-term Plan and the Value Generation Plan. Repurchases of treasury shares are disclosed in Note 32.

HORACIO DANIEL MARÍN

President

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	40
YPF SOCIEDAD ANONIMA
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, or as otherwise indicated)
39.	SUBSEQUENT EVENTS
---	---

Issuance of ON

On August 7, 2026, the Company issued Additional Class XLIII NO in the local market, maturing in March 2030, for a nominal amount of 171. The NO were issued at a price of 101.72%, resulting in a yield of 5.50%. The principal will be amortized in a single installment upon maturity.

Optimization plan of the conventional Upstream portfolio

As part of the optimization plan of the conventional Upstream portfolio (see Note 12), on July 8, 2026, YPF’s Board of Directors approved the disposal of new groups of assets related to areas in the Provinces of Mendoza and La Pampa.

In relation to the aforementioned, on August 5, 2026, YPF signed agreements for (i) the assignment by YPF to San Benito Upstream S.A.U. of its interest in the “CNQ-7 Gobernador Ayala”, “CNQ-7A” and “Jagüel Casa de Piedra” exploitation concessions, located in the Provinces of Mendoza and La Pampa, and (ii) the assignment by YPF to Energía Mendocina S.A. and Compañía Andina de Petróleo y Gas S.A. of its interest in the “Chachahuén Sur”, “Cerro Morado Este”, “Puesto Hernández” and “Chihuido de la Sierra Negra” exploitation concessions, located in the Province of Mendoza. The sale price of the transactions amounted to 205 and 200, respectively, subject to the applicable price adjustments in each case. As of the date of issuance of these condensed interim consolidated financial statements, these assignment agreements are subject to the fulfillment of closing conditions.

The disposal of these groups of assets did not meet the IFRS 5 “Non-current assets held for sale and discontinued operations” held for sale criteria as of June 30, 2026, accordingly these disposal groups of assets were not classified as held for sale as of that date. The assets and liabilities comprising the transactions to be classified as held for sale are property, plant and equipment with a carrying amount of 269, and the related provision for hydrocarbon well abandonment obligations with a carrying amount of 75, as of June 30, 2026.

Sale of equity participation in Metrogas and Metroenergía

As part of the Company’s asset portfolio assessment, on August 10, 2026, YPF’s Board of Directors approved the signing of a share purchase and sale agreement with Empresa Distribuidora y Comercializadora Norte S.A. (“EDENOR”), whereby, subject to the fulfillment of the closing conditions set forth in such agreement, YPF agreed to transfer (i) 70% of the shares and capital stock of Metrogas and (ii) 5% of the shares and capital stock of Metroenergía. The sale price of the transactions amounts to 780, and as a result of the transaction, YPF will dispose of its entire equity participation in those subsidiaries.

Likewise, the closing of the transaction is subject to the fulfillment of conditions precedent, including, among others, obtaining applicable regulatory approvals, such as approval from the National Regulatory Agency for Gas and Electricity (ENReGE).

As of the date of issuance of these condensed interim consolidated financial statements and due to the recent timing of the transaction, the Group is in the process of determining the accounting impact of this transaction.

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 June 30, 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 August 10, 2026.

HORACIO DANIEL MARÍN

President

Table of Contents

YPF SOCIEDAD ANONIMA

CONDENSED INTERIM CONSOLIDATED

FINANCIALSTATEMENTS AS OF JUNE 30, 2026

AND COMPARATIVE INFORMATION (UNAUDITED)

Table of Contents

English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.<br><br><br>In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.<br><br><br><br> <br>YPF SOCIEDAD ANONIMA<br><br><br>CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF JUNE 30, 2026 ANDCOMPARATIVE INFORMATION (UNAUDITED)		<br><br><br><br>

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		11
5	Financial risk management		11
6	Business segment information		12
7	Financial instruments by category		16
8	Intangible assets		16
9	Property, plant and equipment		17
10	Right-of-use assets		21
11	Investments in associates and joint ventures		21
12	Assets held for sale and associated liabilities		22
13	Inventories		24
14	Other receivables		25
15	Trade receivables		25
16	Investments in financial assets		25
17	Cash and cash equivalents		26
18	Provisions		26
19	Income tax		26
20	Taxes payable		27
21	Salaries and social security		27
22	Lease liabilities		27
23	Loans		28
24	Other liabilities		30
25	Accounts payable		30
26	Revenues		30
27	Costs		32
28	Expenses by nature		33
29	Other net operating results		34
30	Net financial results		34
31	Investments in joint operations and consortiums		35
32	Shareholders’ equity		35
33	Earnings per share		36
34	Contingent assets and liabilities		36
35	Contractual commitments		37
36	Main regulations		38
37	Balances and transactions with related parties		41
38	Employee benefit plans and similar obligations		43
39	Assets and liabilities in currencies other than the peso		44
40	Subsequent events		45

Table of Contents

1
English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.<br><br><br>In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.<br><br><br><br> <br>YPF SOCIEDAD ANONIMA<br><br><br>CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF JUNE 30, 2026 ANDCOMPARATIVE INFORMATION (UNAUDITED)		<br><br><br><br>

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 Committee
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	Oleoducto Trasandino (Argentina) S.A.
OTAMERICA	OTAMERICA Ebytem S.A.
OTC	Oleoducto Trasandino (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.
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

Table of Contents

<br> 2<br>
English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.<br><br><br>In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.<br><br><br><br> <br>YPF SOCIEDAD ANONIMA<br><br><br>CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br><br><br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)		<br><br><br><br>

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

April 30, 2026, 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 July 15, 2026, under No. 12,932, Book 127 of Corporations.

Capital structure

3,933,127,930 shares of common stock, $ 1 par value and 1 vote per share (see Note 32).

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

3,933,127,930.

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

Table of Contents

<br> 3<br>
English translation of the condensed interim consolidated financial statements originally filed in Spanish with the CNV.<br><br><br>In case of discrepancy, the condensed interim consolidated financial statements filed with the CNV prevail over this translation.<br><br><br><br> <br>YPF SOCIEDAD ANONIMA<br><br><br>CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION<br><br><br>AS OF JUNE 30, 2026 AND DECEMBER 31, 2025 (UNAUDITED)<br><br><br>(Amounts expressed in millions of Argentine pesos)		<br><br><br><br>
		Notes			June 30,<br>2026				December 31,<br>2025
---	---	---	---	---	---	---	---	---	---	---	---
ASSETS
Non-current assets
Intangible assets			8			1,594,734				1,548,809
Property, plant and equipment			9			30,190,549				27,682,554
Right-of-use assets			10			1,018,002				779,202
Investments in associates and joint ventures			11			3,035,729				2,334,746
Deferred income tax assets, net			19			35,461				13,055
Other receivables			14			1,177,963				940,204
Trade receivables			15			9,251				7,497
Total non-current assets					****	37,061,689	****		****	33,306,067	****
Current assets
Assets held for sale			12			638,338				1,479,221
Inventories			13			2,426,839				2,098,590
Contract assets			26			9,746				4,522
Other receivables			14			985,472				1,681,800
Trade receivables			15			3,082,959				2,399,905
Investments in financial assets			16			1,707,910				380,569
Cash and cash equivalents			17			1,947,666				1,352,703
Total current assets					****	10,798,930	****		****	9,397,310	****
TOTAL ASSETS					****	47,860,619	****		****	42,703,377	****
SHAREHOLDERS’ EQUITY
Capital						3,916				3,921
Adjustment to capital						6,074				6,081
Treasury shares						17				12
Adjustment to treasury shares						27				20
Share-based benefit plans						19,130				9,323
Acquisition cost of treasury shares						(72,969)				(34,274)
Share trading premiums						14,021				13,707
Issuance premiums						640				640
Legal reserve						1,162,287				1,141,047
Reserve for investments						8,572,097				9,553,655
Reserve for purchase of treasury shares						39,184				48,146
Other comprehensive income						6,337,651				6,039,399
Unappropriated retained earnings and losses						2,422,437				(1,096,460)
Shareholders’ equity attributable to shareholders of the parent company					****	18,504,512	****		****	15,685,217	****
Non-controlling interest						397,541				333,766
TOTAL SHAREHOLDERS’ EQUITY					****	18,902,053	****		****	16,018,983	****
LIABILITIES
Non-current liabilities
Provisions			18			976,216				884,901
Contract liabilities			26			348,956				261,205
Deferred income tax liabilities, net			19			660,232				541,035
Income tax liability						1,183,880				1,204,132
Taxes payable			20			18,284				26,749
Salaries and social security			21			197,937				90,400
Lease liabilities			22			606,668				396,386
Loans			23			12,590,269				11,931,848
Other liabilities			24			807,707				541,608
Accounts payable			25			7,035				8,404
Total non-current liabilities					****	17,397,184	****		****	15,886,668	****
Current liabilities
Liabilities directly associated with assets held for sale			12			1,448,817				1,713,545
Provisions			18			348,608				332,986
Contract liabilities			26			284,012				169,937
Income tax liability						1,155,291				105,232
Taxes payable			20			592,786				315,457
Salaries and social security			21			442,959				486,905
Lease liabilities			22			448,992				432,437
Loans			23			2,373,512				3,415,028
Other liabilities			24			1,088,921				580,311
Accounts payable			25			3,377,484				3,245,888
Total current liabilities					****	11,561,382	****		****	10,797,726	****
TOTAL LIABILITIES					****	28,958,566	****		****	26,684,394	****
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY					****	47,860,619	****		****	42,703,377	****

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

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

Table of Contents

4

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 SIX AND THREE-MONTH PERIODS ENDED JUNE 30, 2026(UNAUDITED)<br> <br>(Amounts expressed in millions of Argentine pesos, except per share information expressed in Argentine pesos)
					For the six-month periodsended June 30,								For the three-month periodsended June 30,
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
		Notes			2026				2025				2026				2025
Net income
Revenues			26			16,278,459				10,283,783				9,322,025				5,412,963
Costs			27			(9,611,501)				(7,541,498)				(5,133,429)				(4,038,433)
Gross profit					****	6,666,958	****		****	2,742,285	****		****	4,188,596	****		****	1,374,530	****
Selling expenses			28			(1,542,795)				(1,121,400)				(854,780)				(596,028)
Administrative expenses			28			(868,149)				(548,110)				(454,688)				(272,328)
Exploration expenses			28			(51,958)				(55,827)				(24,441)				(23,332)
Inventories write-down and reversal of impairment losses of property, plant and equipment			27			(11,434)				10,460				(11,434)				10,460
Other net operating results			29			(397,639)				(386,695)				(290,129)				(44,398)
Operating profit					****	3,794,983	****		****	640,713	****		****	2,553,124	****		****	448,904	****
Income from equity interests in associates and joint ventures			11			303,624				91,349				137,279				5,315
Financial income			30			134,408				47,172				87,980				29,495
Financial costs			30			(853,332)				(608,870)				(431,130)				(312,153)
Other financial results			30			102,334				39,381				180,030				10,434
Net financial results			30			(616,590)				(522,317)				(163,120)				(272,224)
Net profit before income tax					****	3,482,017	****		****	209,745	****		****	2,527,283	****		****	181,995	****
Income tax			19			(1,167,083)				(148,050)				(824,210)				(107,330)
Net profit for the period					****	2,314,934	****		****	61,695	****		****	1,703,073	****		****	74,665	****
Other comprehensive income
Items that may be reclassified subsequently to profit or loss:
Translation effect from subsidiaries, associates and joint ventures						(24,156)				(156,098)				(93,773)				(116,066)
Result from net monetary position in subsidiaries, associates and joint ventures^(1)^						260,667				184,678				99,127				86,330
Items that may not be reclassified subsequently to profit or loss:
Translation differences from YPF ^(2)^						360,199				1,987,054				1,200,444				1,494,944
Other comprehensive income for the period					****	596,710	****		****	2,015,634	****		****	1,205,798	****		****	1,465,208	****
Total comprehensive income for the period					****	2,911,644	****		****	2,077,329	****		****	2,908,871	****		****	1,539,873	****
Net profit for the period attributable to:
Shareholders of the parent company						2,302,076				44,178				1,695,787				64,042
Non-controlling interest						12,858				17,517				7,286				10,623
Other comprehensive income for the period attributable to:
Shareholders of the parent company						545,793				1,980,735				1,186,527				1,449,217
Non-controlling interest						50,917				34,899				19,271				15,991
Total comprehensive income for the period attributable to:
Shareholders of the parent company						2,847,869				2,024,913				2,882,314				1,513,259
Non-controlling interest						63,775				52,416				26,557				26,614
Earnings per share attributable to shareholders of the parent company:
Basic and diluted ^(3)^			33			587.49				11.26				432.86				16.33
(1)    Results generated by subsidiaries, associates and joint ventures<br>with the peso as functional currency, see Note 2.b.1) to the annual consolidated financial statements.<br><br><br>(2)    Correspond to the effect of the translation to YPF´s presentation currency, see Note<br>2.b.1).<br> <br>(3)    In accordance with IAS 33 “Earnings per share”, the calculation of basic<br>and diluted earnings per share was adjusted retrospectively to include the effect of the stock split, see Note 32 “Stock split on YPF’s ordinary shares” section.
---

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

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

Table of Contents

5

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 CHANGES IN SHAREHOLDERS’ EQUITY<br> <br>FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2026 AND 2025(UNAUDITED)<br> <br>(Amounts expressed in millions of Argentine pesos)
	For the six-month period ended June 30, 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-<br>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)^		-			-			-			-			10,151			-			-			-			-			-			-			-				-			10,151			-			10,151
Repurchase of treasury shares		(5)			(7)			5			7			-			(38,468)			-			-			-			-			-			-				-			(38,468)			-			(38,468)
Settlement of share-based benefit plans		-			-			-			-			(344)			(227)			314			-			-			-			-			-				-			(257)			-			(257)
Release of reserves ^(5)^		-			-			-			-			-			-			-			-			-			(9,553,655)			(48,146)			-				9,601,801			-			-			-
Appropriation to reserves^(5)^		-			-			-			-			-			-			-			-			-			8,415,450			38,468			-				(8,453,918)			-			-			-
Other comprehensive income		-			-			-			-			-			-			-			-			21,240			156,647			716			298,252				68,938			545,793			50,917			596,710
Net profit for the period		-			-			-			-			-			-			-			-			-			-			-			-				2,302,076			2,302,076			12,858			2,314,934
Balance as of June 30, 2026		3,916			6,074			17			27			19,130			(72,969)			14,021			640			1,162,287			8,572,097			39,184			6,337,651		^(1)^		2,422,437			18,504,512			397,541			18,902,053
(1)	Includes 6,649,367 related to the effect of the translation of the shareholders’ contributions (see Note 36<br>“Effect of the translation of the shareholders’ contributions” section). (3,495,892) related to the effect of the translation of the financial statements of investments in subsidiaries, associates and joint ventures with functional<br>currencies other than the U.S. dollar, and 3,184,176 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 2.b.1) and 2.b.10) to the annual<br>consolidated financial statements.
---	---
(2)	Net of employees’ income tax withholding related to the share-based benefit plans.
---	---
(3)	See Note 38.
---	---
(4)	Includes 92,157 and 51,423 restricted to the distribution of retained earnings as of June 30, 2026, and December<br>2025, respectively. See Note 31 to the annual consolidated financial statements.
---	---
(5)	As decided in the Shareholders’ Meeting on April 30, 2026.
---	---
	HORACIO DANIEL MARÍN<br><br><br>President
---	---

Table of Contents

6

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 STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY<br> <br>FOR THE SIX-MONTH PERIODS ENDEDJUNE 30, 2026 AND 2025 (UNAUDITED) (cont.)<br> <br>(Amounts expressed in millions of Argentine pesos)
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	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-<br>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)^		-			-			-			-			5,824			-			-			-			-			-			-			-				-			5,824			-			5,824
Repurchase of treasury shares		-			-			-			-			-			-			-			-			-			-			-			-				-			-			-			-
Settlement of share-based benefit plans		-			-			-			-			(140)			(140)			115			-			-			-			-			-				-			(165)			-			(165)
Release of reserves ^(5)^		-			-			-			-			-			-			-			-			-			(4,365,198)			(36,708)			-				4,401,906			-			-			-
Appropriation to reserves ^(5)^		-			-			-			-			-			-			-			-			-			6,787,343			34,205			-				(6,821,548)			-			-			-
Other comprehensive income		-			-			-			-			-			-			-			-			133,732			1,119,698			5,643			716,287				5,375			1,980,735			34,899			2,015,634
Net profit for the period		-			-			-			-			-			-			-			-			-			-			-			-				44,178			44,178			17,517			61,695
Balance as of June 30, 2025		3,922			6,083			11			18			9,247			(9,795)			2,661			640			944,383			7,907,041			39,848			5,012,420		^(1)^		121,690			14,038,169			276,779			14,314,948
(1)  Includes 5,402,764 related to the effect of the translation of the shareholders’<br>contributions (see Note 36 “Effect of the translation of the shareholders’ contributions” section). (2,517,078) 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 2,126,734 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 84,059 and 72,137 restricted to the distribution of retained earnings as of<br>June 30, 2025 and December 31, 2024, respectively. See Note 31 to the annual consolidated financial statements.
(5)  As decided in the Shareholders’ Meeting on April 30, 2025.

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

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

Table of Contents

7

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 SIX-MONTH PERIODS ENDEDJUNE 30, 2026 AND 2025 (UNAUDITED)<br> <br>(Amounts expressed in millions of Argentine pesos)
		For the six-month periods ended June 30,
---	---	---	---	---	---	---	---	---
		2026				2025
Cash flows from operating activities
Net profit			2,314,934				61,695
Adjustments to reconcile net profit to cash flows provided by operating activities:
Income from equity interests in associates and joint ventures			(303,624)				(91,349)
Depreciation of property, plant and equipment			2,033,646				1,570,182
Amortization of intangible assets			45,893				34,782
Depreciation of<br>right-of-use assets			209,422				154,285
Retirement of property, plant and equipment and intangible assets and consumption of materials			201,774				223,934
Charge on income tax			1,167,083				148,050
Net increase in provisions			249,025				567,713
Inventories write-down and reversal of impairment losses of property, plant and equipment			11,434				(10,460)
Effect of changes in exchange rates, interest and others			557,480				489,054
Share-based benefit plans			10,151				5,824
Result from sale of assets			(5,475)				(203,071)
Result from changes in fair value of assets held for sale			184,397				266,247
Result from revaluation of companies			-				(52,934)
Result from liabilities for agreements			119,833				-
Other insurance income			(11,401)				-
Changes in assets and liabilities:
Trade receivables			(520,938)				(333,322)
Other receivables			2,389				(214,810)
Inventories			(290,085)				82,491
Accounts payable			(389,530)				(181,303)
Taxes payable			270,492				61,245
Salaries and social security			47,672				(80,263)
Other liabilities			590,679				(438,405)
Decrease in provisions due to payment/use			(83,553)				(107,396)
Contract assets			(5,224)				6,184
Contract liabilities			173,476				123,254
Dividends received			96,366				179,174
Proceeds from collection of profit loss insurance			1,146				5,372
Income tax payments			(47,663)				(133,560)
Net cash flows from operating activities ^(1)(2)^		****	6,629,799	****		****	2,132,613	****
Investing activities: ^(3)^
Acquisition of property, plant and equipment and intangible assets			(3,747,742)				(2,770,358)
Additions of assets held for sale			(11,317)				(42,816)
Contributions and acquisitions of interests in associates and joint ventures			(331,254)				(86,491)
Acquisitions from business combinations net of cash and cash equivalents			-				(240,838)
(Payments) / proceeds net from the purchase and sale of financial assets			(1,166,566)				161,509
Interests received from financial assets			2,473				3,034
Proceeds from concessions, assignment agreements and sale of assets			814,754				75,714
Net cash flows used in investing activities		****	(4,439,652)	****		****	(2,900,246)	****
Financing activities: ^(3)^
Payments of loans			(2,234,619)				(1,468,867)
Payments of interests			(531,511)				(349,993)
Proceeds from loans			1,547,031				2,429,371
Account overdrafts, net			(4,637)				294
Repurchase of treasury shares			(38,468)				-
Payments of leases			(272,055)				(224,305)
Payments of interests in relation to income tax			(78,737)				(876)
Net cash flows (used in) / from financing activities		****	(1,612,996)	****		****	385,624	****
Effect of changes in exchange rates on cash and cash equivalents		****	17,812	****		****	158,820	****
Increase / (Decrease) in cash and cash equivalents		****	594,963	****		****	(223,189)	****
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			1,947,666				928,679
Increase / Decrease in cash and cash equivalents		****	594,963	****		****	(223,189)	****
(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 53,620 and 35,548 for the six-month periods ended June 30, 2026 and<br>2025, respectively, for payments of 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 six-month periods ended June 30,
---	---	---	---	---	---	---
		2026			2025
Unpaid acquisitions of property, plant and equipment and intangible assets			1,189,578			674,468
Unpaid additions of assets held for sale			1,246			1,417
Additions of right-of-use<br>assets			518,345			197,954
Capitalization of depreciation of<br>right-of-use assets			24,703			35,904
Capitalization of financial accretion for lease liabilities			2,198			5,347
Capitalization in associates and joint ventures			-			13,726
Liabilities arising from company acquisitions			121,700			16,110
Unpaid receivables from the sale of assets			722,174			462,230
Liabilities arising from asset exchange			321,668			-

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

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

Table of Contents

8

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 JUNE 30, 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

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 June 30, 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 June 30, 2026, by business segment:

Entity		Country			Main business		% of ownership ofcapital stock ^(1)^		Relationship
Upstream
SC Gas			Argentina		Hydrocarbon exploitation			100%		Subsidiary
VMI			Argentina		Hydrocarbon exploitation			100%		Subsidiary
Bandurria Sur Participaciones^(5)^			Argentina		Hydrocarbon exploitation			16.30%		Associate
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)^			Argentina		Hydrocarbon transportation			29.82%		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)	As of June 30, 2026, the shares of Bandurria Sur Participaciones are pledged in guarantee for the obligations assumed<br>in relation to the contingent consideration contemplated in the agreements entered into with Vista (see Note 4).
---	---
	HORACIO DANIEL MARÍN<br><br><br>President
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Table of Contents

9

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 JUNE 30, 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 CONSOLIDATEDFINANCIAL STATEMENTS

2.a) Applicable accounting framework

The condensed interim consolidated financial statements of the Company for the six-month period ended June 30, 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 as issued by the IASB.

Moreover, some additional information required by the LGS and/or CNV’s Rules have been included.

These condensed interim consolidated financial statements corresponding to the six-month period ended June 30, 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 six-month period ended June 30, 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 and presentation 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. Additionally, in accordance with the provisions of the LGS and the CNV rules, the Company must present its financial statements in pesos.

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.

Standards and interpretations issued by the IASB during the six-month period ended June 30, 2026, whose application is not mandatory at the closing date of these condensed interim consolidated financial statements and have not been adopted by the Group

•	IFRS 20 “Regulatory assets and regulatory liabilities”

In May 2026, the IASB issued IFRS 20 which replaces IFRS 14 “Regulatory deferral accounts”, with the objective of providing more complete information about the effects of rate regulation on the financial performance and financial position of entities subject to a rate regulation agreement. This standard is effective for fiscal years beginning on or after January 1, 2029.

IFRS 20 establishes requirements for the recognition, measurement, presentation and disclosure of regulatory assets, liabilities, income and expense arising from differences in timing between the period in which an entity provides regulatory goods or services and the period in which the entity collects payment from customers through regulated rates.

As of the date of issuance of these condensed interim consolidated financial statements, the Group is in the process of evaluating the effects of the application of IFRS 20.

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

Table of Contents

10

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 JUNE 30, 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 (cont.)

•	Amendments to IAS 28 - Fair value option for investments in associates and joint ventures

In June 2026, the IASB issued amendments to IAS 28, with the objective of clarifying which entities are eligible to apply the fair value measurement option for certain investments in associates and joint ventures, which are effective when an entity first applies IFRS 18 “Presentation and disclosure in financial statements”.

The amendments specify which entities are within the scope of the option provided for in IAS 28 to measure investments in associates or joint ventures at fair value through profit or loss in accordance with IFRS 9 “Financial instruments”, instead of applying the equity method, limiting this option to venture capital organizations, mutual funds, unit trusts and similar entities.

As of the date of issuance of these condensed interim consolidated financial statements, the Group anticipates that the application of these amendments will not have a significant impact on its financial statements.

In accordance with Article 1, Chapter III, Title IV of the CNV rules, the earlyapplication 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 applicationis 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 six-month period ended June 30, 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.

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.

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

Table of Contents

11

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 JUNE 30, 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)

4. ACQUISITIONS AND DISPOSALS

The most relevant acquisitions and disposals of companies that took place during the six-month period ended June 30, 2026 are described below:

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

On January 22, 2026, the Company entered into an asset exchange 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 interim consolidated financial statements, the closing conditions have not yet been met.

Based on the aforementioned, as of June 30, 2026, YPF recognized 321,668 in property, plant, and equipment related to the acquisition of the interest in the “Aguada Villanueva”, “Las Tacanas”, and “Meseta Buena Esperanza” exploitation concessions, and a liability in the same amount until the closing conditions set forth in the amendment signed on April 30, 2026, are met.

In accordance with the transaction described and the expected cash flows from the exchanged assets, the closing of the transaction will not have an impact on its financial results.

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 Bandurria Sur Participaciones S.A. (formerly Equinor Argentina S.A.U., hereinafter “Bandurria Sur Participaciones”), 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).

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 (i) holds a 16.3% interest in the capital stock of Bandurria Sur Participaciones, which owns a 30% interest in the “Bandurria Sur” exploitation concession, and which, combined with YPF’s current 40% interest in that concession, this results in a total direct and indirect 44.9% interest in that block; and (ii) acquired a 15% interest in the “Bajo del Toro” exploration permit and “Bajo del Toro Norte” exploitation concession, which, combined with YPF’s current 50% interest, results in a total direct 65% interest in those areas.

The total amount of both transactions was US$ 204 million in cash. In addition, the Company recognized a liability of US$ 87 million associated with the additional contingent consideration, which is subject to the fulfillment of certain contractual conditions.

Based on the closing of the aforementioned agreement, as of the transaction’s closing date, YPF recognized 304,918 in investments in associates related to the acquisition of the associate Bandurria Sur Participaciones, applying the equity method from the date of acquisition, and 102,193 in property, plant, and equipment related to the acquisition of the interest in the “Bajo del Toro” and “Bajo del Toro Norte” exploitation concessions.

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 six-month period ended June 30, 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.

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

Table of Contents

12

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 JUNE 30, 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)

5.  FINANCIAL RISK MANAGEMENT (cont.)

•	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 June 30, 2026, the Group is in compliance with its covenants.

6.  BUSINESSSEGMENT 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.

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

Table of Contents

13

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 JUNE 30, 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.)

•	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.

•	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

Table of Contents

14

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION		<br><br><br><br>
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United<br>States dollars, or as otherwise indicated)

6. BUSINESS SEGMENT INFORMATION (cont.)

		In millions of U.S. dollars																										In millionsof pesos
		Upstream				Midstream andDownstream		LNG andIntegrated Gas				New Energies				CentralAdministrationand Others				Consolidationadjustments^(1)^				Total				Total
For the six-month period ended June 30, 2026
Revenues			52			9,836			793				436				403				-				11,520				16,278,459
Revenues from intersegment sales			4,710			103			160				7				558				(5,538)				-				-
Revenues			4,762			9,939			953				443				961				(5,538)				11,520				16,278,459
Operating profit or loss			1,571		^(3)^	1,792			(36)				40				(347)				(329)				2,691				3,794,983
Income from equity interests in associates and joint ventures			-			26			37				153				-				-				216				303,624
Net financial results																									(457)				(616,590)
Net profit before income tax																									2,450				3,482,017
Income tax																									(836)				(1,167,083)
Net profit for the period																									1,614				2,314,934
Acquisitions of property, plant and equipment			2,312			410			41				17				44				-				2,824				3,960,627
Acquisitions of right-of-use assets			282			80			-				-				-				-				362				518,345
Increases from business combinations			-			-			-				-				-				-				-				-
Other income statement items
Depreciation of property, plant and equipment ^(2)^			1,070			278			34				17				42				-				1,441				2,033,646
Amortization of intangible assets			-			18			-				4				9				-				31				45,893
Depreciation of right-of-use assets			84			62			-				-				3				-				149				209,422
Inventories write-down			-			8			-				-				-				-				8				11,434
Balance as of June 30, 2026
Assets			14,142			11,932			901				2,423				3,477				(482)				32,393				47,860,619
	HORACIO DANIEL MARÍN<br><br><br>President
---	---

Table of Contents

15

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION		<br><br><br><br>
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United<br>States dollars, or as otherwise indicated)

6. BUSINESS SEGMENT INFORMATION (cont.)

		In millions of U.S. dollars																							In millionsof pesos
		Upstream			Midstream andDownstream		LNG andIntegrated Gas				New Energies				CentralAdministrationand Others			Consolidationadjustments ^(1)^			Total				Total
For the six-month period ended June 30, 2025
Revenues			49		7,574			807				418				401			-			9,249				10,283,783
Revenues from intersegment sales			3,913		108			158				3				552			(4,734)			-				-
Revenues			3,962		7,682			965				421				953			(4,734)			9,249				10,283,783
Operating profit or loss			88		739			(5)				48				(230)			(36)			604				640,713
Income from equity interests in associates and joint ventures			-		(12)			29				58				-			-			75				91,349
Net financial results																						(501)				(522,317)
Net profit before income tax																						178				209,745
Income tax																						(130)				(148,050)
Net loss for the period																						48				61,695
Acquisitions of property, plant and equipment			1,999		500			17				18				46			-			2,580				2,942,447
Acquisitions of right-of-use assets			33		125			-				-				8			-			166				197,954
Increases from business combinations ^(4)^			278		93			-				-				-			-			371				402,522
Other income statement items
Depreciation of property, plant and equipment ^(2)^			1,109		252			1				18				42			-			1,422				1,570,182
Amortization of intangible assets			-		19			-				7				5			-			31				34,782
Depreciation of right-of-use assets			81		56			-				-				4			-			141				154,285
Reversal of impairment losses of property, plant and equipment			-		-			-				(9)				-			-			(9)				(10,460)
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$ (12) and (1) millions of unproductive exploratory drillings as of June 30, 2026 and 2025,<br>respectively.
---	---
(4)	Corresponds to increases in property, plant, and equipment and intangible assets due to business combinations, see Notes 7<br>and 8 to the annual consolidated financial statements
---	---
	HORACIO DANIEL MARÍN<br><br><br>President
---	---

Table of Contents

16

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 JUNE 30, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)		<br><br><br><br>
(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos,<br>or as otherwise 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 and liabilities measured at fair value through profit or loss as of June 30, 2026 and December 31, 2025, and their allocation to their fair value hierarchy levels:

Financial assets

		As of June 30, 2026
****		Level 1			Level 2			Level 3			Total
Investments in financial assets:
- Public securities			1,681,356			-			-			1,681,356
- Private securities - NO			26,554			-			-			26,554
			1,707,910			-			-			1,707,910
Cash and cash equivalents:
- Mutual funds			1,078,019			-			-			1,078,019
- Public securities			44,325			-			-			44,325
			1,122,344			-			-			1,122,344
			2,830,254			-			-			2,830,254
		As of December 31, 2025
		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
Financial liabilities:
		As of June 30, 2026
		Level 1			Level 2			Level 3			Total
Other liabilities
- Liabilities for agreements			-			-			121,700			121,700
			-			-			121,700			121,700

As of December 31,2025, the Group had no financial liabilities measured at fair value through profit or loss.

For the measurement of financial liabilities classified within Level 3 of the fair value hierarchy as of June 30, 2026, the Group uses valuation techniques based on expected cash flows that consider future production projections and expected fluctuations in the international oil price.

During the six-month period ended June 30, 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 15,216,523 and 15,514,096 as of June 30, 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

		June 30, 2026			December 31, 2025
Net carrying amount of intangible assets			1,653,430			1,606,432
Provision for impairment of intangible assets<br>^(1)^			(58,696)			(57,623)
			1,594,734			1,548,809
(1)	Includes 1,073 corresponding to the conversion effect for the six-month period ended June 30, 2026.<br>
---	---

Table of Contents

17

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 JUNE 30, 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 six-month period ended June 30, 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			1,082,670					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			34,229					-				4,304				38,533
Increases from business combinations			-					-				-				-
Translation effect			32,157					17,183				13,143				62,483
Adjustment for inflation ^(1)^			-					-				23,491				23,491
Decreases, reclassifications and other movements			-					-				18,235				18,235
Accumulated amortization
Increases			18,614					-				27,279				45,893
Translation effect			21,383					-				11,169				32,552
Adjustment for inflation ^(1)^			-					-				17,299				17,299
Decreases, reclassifications and other movements			-					-				-				-
Cost			1,697,554					940,297				880,307				3,518,158
Accumulated amortization			1,140,300					-				724,428				1,864,728
Balance as of June 30, 2026			557,254					940,297				155,879				1,653,430
(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

		June 30, 2026			December 31, 2025
Net carrying amount of property, plant and equipment			31,259,343			28,902,606
Provision for obsolescence of materials and equipment			(636,162)			(701,832)
Provision for impairment of property, plant and equipment			(432,632)			(518,220)
			30,190,549			27,682,554
---

Table of Contents

18

YPF SOCIEDAD ANONIMA<br> <br>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF JUNE 30, 2026 AND COMPARATIVE INFORMATION
(Amounts expressed in millions of United States dollars, except for shares and per share amounts expressed in United<br>States dollars, or as otherwise indicated)

9. PROPERTY, PLANT AND EQUIPMENT (cont.)

Changes in Group’s property, plant and equipment for the six-month periods ended June 30, 2026 and as of the year ended December 31, 2025 are as follows:

	Land and<br>buildings		Mining<br>property, wells<br>and related<br>equipment		Refinery<br>equipment<br>and<br>petrochemical<br>plants		Transportation<br>equipment		Materials and<br>equipment in<br>warehouse		Drilling and<br>work in<br>progress		Exploratory<br>drilling in<br>progress		Furniture,<br>fixtures and<br>installations		Selling<br>equipment		Infrastructure<br>for natural gas<br>distribution		Other property		Total
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
---	---

Table of Contents

19

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 JUNE 30, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)
(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos, or as otherwise indicated)
9.	PROPERTY, PLANT AND EQUIPMENT (cont.)
---	---
		Land and<br>buildings			Mining<br>property,<br>wells and<br>related<br>equipment			Refinery<br>equipment<br>and<br>petrochemical<br>plants			Transportation<br>equipment			Materials and<br>equipment in<br>warehouse			Drilling and<br>work in<br>progress			Exploratory<br>drilling in<br>progress		Furniture,<br>fixtures and<br>installations			Selling<br>equipment			Infrastructure<br>for natural<br>gas<br>distribution			Other<br>property			Total
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
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			369			589,994			31,833			6,055			592,928			2,721,526			11,736		1,949			-			-			4,237			3,960,627
Increases from business combinations			-			-			-			-			-			-			-		-			-			-			-			-
Translation effect			29,931			860,962			296,598			27,006			27,440			189,067			1,058		23,885			45,683			-			15,475			1,517,105
Adjustment for inflation^(1)^			57,547			-			-			24,030			7,339			6,724			-		14,034			-			285,491			73,312			468,477
Decreases, reclassifications and other movements			18,397			1,597,317			550,745			34,666			(618,899)			(2,005,406)			1,401		14,111			48,354			14,699			8,184			(336,431)
Accumulated depreciation
Increases			21,790			1,556,811			283,504			87,320			-			-			-		25,630			52,701			19,406			78,670			2,125,832
Translation effect			15,948			628,681			192,452			12,727			-			-			-		22,254			32,647			-			14,572			919,281
Adjustment for inflation^(1)^			32,089			-			-			14,559			-			-			-		9,631			-			146,770			54,550			257,599
Decreases, reclassifications and other movements			(500)			(25,973)			-			(20,174)			-			-			-		(12)			(686)			-			(2,326)			(49,671)
Cost			2,029,208			43,219,935			15,476,113			1,556,763			1,848,569			8,764,659			34,038		1,382,898			2,420,347			2,217,165			1,439,974			80,389,669
Accumulated depreciation			1,086,266			31,960,305			10,077,109			679,557			-			-			-		1,257,959			1,702,600			1,159,882			1,206,648			49,130,326
Balance as of June 30, 2026			942,942			11,259,630			5,399,004			877,206			1,848,569			8,764,659			34,038		124,939			717,747			1,057,283			233,326			31,259,343
(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<br>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 portfolio reclassified to<br>the “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
---	---

Table of Contents

20

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 JUNE 30, 2026 AND COMPARATIVE INFORMATION (UNAUDITED)
(Amounts expressed in millions of Argentine pesos, except for shares and per share amounts expressed in Argentine pesos,<br>or as otherwise 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 six-month periods ended June 30, 2026 and 2025, the rate of capitalization was 7.04% and 6.53%, respectively, and the amount capitalized amounted to 11,941 and 5,973, respectively.

Set forth present is the evolution of the provision for obsolescence of materials and equipment for the six-month period ended June 30, 2026 and as of the year ended December 31, 2025:

		Provision for obsolescenceof 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			22,511
Decreases charged to profit or loss			(53,547)
Applications due to utilization			(52,257)
Translation effect			9,109
Adjustment for inflation^(1)^			1,061
Reclassifications			7,453
Balance as of June 30, 2026			636,162
(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 six-month period ended June 30, 2026 and as of the year ended December 31, 2025:

		Provision for impairment ofproperty, plant andequipment
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)^			(92,186)
Translation effect			4,593
Adjustment for inflation^(2)^			2,005
Balance as of June 30, 2026			432,632
(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
---	---

Table of Contents

21

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 JUNE 30, 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 six-month period ended June 30, 2026 and as of the year ended December 31, 2025 is as follows:

		Land andbuildings			Exploitationfacilities andequipment			Machinery andequipment			Gas stations			Transportationequipment			Total
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			32			405,534			26,630			-			86,149			518,345
Translation effect			1,178			24,603			13,171			1,721			23,524			64,197
Adjustment for inflation ^(1)^			230			-			-			5,509			-			5,739
Decreases, reclassifications and other movements			-			(25,872)			(128,238)			(11,574)			(10,132)			(175,816)
Accumulated depreciation
Increases			2,861			36,729			79,682			7,519			107,334			234,125
Translation effect			1,103			14,722			11,077			1,502			19,884			48,288
Adjustment for inflation ^(1)^			222			-			-			4,715			-			4,937
Decreases, reclassifications and other movements			-			(24,526)			(76,087)			(4,857)			(8,215)			(113,685)
Cost			66,314			1,252,963			860,335			156,532			1,204,174			3,540,318
Accumulated depreciation			57,001			801,618			597,041			120,703			945,953			2,522,316
Balance as of June 30, 2026			9,313			451,345			263,294			35,829			258,221			1,018,002
(1)	Corresponds to the adjustment for inflation of opening balances of right-of-use assets of subsidiaries with the peso as<br>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 June 30, 2026 and December 31, 2025:

		June 30, 2026			December 31, 2025
Amount of investments in associates			932,802			473,518
Amount of investments in joint ventures			2,102,927			1,861,228
			3,035,729			2,334,746
	HORACIO DANIEL MARÍN<br><br><br>President
---	---

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22

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 JUNE 30, 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 six-month period ended June 30, 2026 and as of the year ended December 31, 2025, correspond to:

		Investments in associatesand 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 ^(3)^			(292,912)
Translation differences			773,380
Adjustment for inflation ^(1)^			25,562
Decrease of companies ^(2)^			(379,476)
Other movements ^(4)^			(88,037)
Balance as of December 31, 2025			2,334,746
Acquisitions and contributions			452,954
Capitalization in associates and joint ventures			-
Income on investments in associates and joint ventures			303,624
Distributed dividends ^(3)^			(144,499)
Translation differences			71,564
Adjustment for inflation ^(1)^			17,340
Decrease of companies			-
Other movements			-
Balance as of June 30, 2026			3,035,729
(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)	Includes 23,765 and 32,495 that were offset by trade liabilities as of June 30, 2026 and December 31, 2025,<br>respectively.
---	---
(4)	Corresponds to the decrease in the OLCLP and Refinor joint ventures, see Note 3 to the annual consolidated financial<br>statements.
---	---

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 six-month periods ended June 30, 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 six-month periodsended June 30,						For the six-month periods<br>ended June 30,
		2026			2025			2026			2025
Net income			32,023			10,409			271,601			80,940
Other comprehensive income			46,213			46,234			42,691			289,284
Comprehensive income			78,236			56,643			314,292			370,224

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 ASSOCIATEDLIABILITIES

The following table presents the main assets held for sale and associated liabilities as of June 30, 2026 and December 31, 2025:

		Upstream				Midstream andDownstream				Total
Balance as of June 30, 2026
Assets held for sale
Property, plant and equipment - Optimization plan of the conventional Upstream portfolio			629,837				-				629,837
Property, plant and equipment - Gas stations			-				8,501				8,501
		****	629,837	****		****	8,501	****		****	638,338	****
Liabilities directly associated with assets held for sale
Provision for hydrocarbon wells abandonment obligations - Optimization plan of the conventional Upstream<br>portfolio			1,439,970				-				1,439,970
Provision for environmental liabilities - Optimization plan of the conventional Upstream portfolio			2,606				-				2,606
Liabilities for concessions - Optimization plan of the conventional Upstream portfolio			6,241				-				6,241
		****	1,448,817	****		****	-	****		****	1,448,817	****
	HORACIO DANIEL MARÍN<br><br><br>President
---	---

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23

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 JUNE 30, 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 andDownstream			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.

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.

The updates for the six-month period ended June 30, 2026, related to the assignment agreements that have met the agreed closing conditions and, as a result, the transaction was settled are described below:

•	Manantiales Behr

On May 5, 2026, Decree No. 407/2026 was published in the Official Gazette of the Province of Chubut, which authorized the assignment of 100% of YPF’s rights and obligations in the “Manantiales Behr” exploitation concessions, “El Trébol - Caleta Córdova”, “Km. 9 - Caleta Córdova” and “Manantiales Behr - Cañadón Perdido” transportation concessions and materials associated with such concessions, located in the Province of Chubut, in favor of San Benito Upstream S.A.U. (“San Benito”) and PECOM Servicios Energía S.A.U. (“PECOM”).

On May 21, 2026, after the fulfillment of the closing conditions by YPF, San Benito and PECOM, the transfer of 100% of the rights and obligations of YPF in such exploitation concession in favor of San Benito and PECOM was formalized.

The updates for the six-month period ended June 30, 2026, related to the assignment agreements that remain subject to the fulfillment of the agreed closing conditions are described below:

•	Cerro Fortunoso and Valle del Río Grande

On June 5, 2026, Resolution No. 103/2026 of the Ministry of Energy and Environment was published in the Official Gazette of the Province of Mendoza, which authorized the transfer of 100% of the rights and obligations of YPF in the “Cerro Fortunoso” and “Valle del Río Grande” exploitation concessions in favor of Venoil S.A. As of the date of issuance of these condensed interim consolidated financial statements, the assignment agreement is subject to the fulfillment of closing conditions.

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

Table of Contents

24

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 JUNE 30, 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.)

12.a.2) Accounting matters

In relation to the assignment agreements that have met the agreed closing conditions during the six-month period ended June 30, 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 loss 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 184,397.
---	---
-	The derecognition of the carrying amount of the assets held for sale net of the liabilities directly associated with<br>assets held for sale of 267,494.
---	---

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 79,011 in the “Provision for operating optimizations” line under “Other operating results, net” line item in the statement of comprehensive income.

13. INVENTORIES

		June 30, 2026			December 31, 2025
Finished goods			1,551,158	^(2)^		1,335,298
Crude oil and natural gas			672,332			569,719	^(2)^
Products in process			81,304			56,049
Raw materials, packaging materials and others			122,045			137,524
			2,426,839	^(1)^		2,098,590	^(1)^
(1)	As of June 30, 2026, and December 31, 2025, the carrying amount of inventories does not exceed their net<br>realizable value.
---	---
(2)	Includes 11,434 and 29,786 of provision for inventories write-down as of June 30, 2026 and December 31, 2025,<br>respectively. See Note 2.b.8) to the annual consolidated financial statements.
---	---
	HORACIO DANIEL MARÍN<br><br><br>President
---	---

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25

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 JUNE 30, 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

		June 30, 2026						December 31, 2025
		Non-current			Current			Non-current			Current
Receivables from services, sales of other assets and other advance payments			309,040			217,292			122,759			729,011  ^(3)^
Tax credit and export rebates			154,073			136,137			97,201			143,490
Loans and balances with related parties<br>^(1)^			280,353			66,890			289,989			51,218
Collateral deposits			2			8,438			2			22,064
Prepaid expenses			63,189			85,807			69,395			56,750
Advances and loans to employees			579			9,230			578			9,296
Advances to suppliers and custom agents<br>^(2)^			9,192			57,001			9,118			130,073
Receivables with partners in JO and Consortiums			339,135			293,208			336,027			434,170
Insurance receivables			-			10,255			-			-
Miscellaneous			74,965			101,407			71,579			105,807
			1,230,528			985,665			996,648			1,681,879
Provision for other doubtful receivables			(52,565)			(193)			(56,444)			(79)
			1,177,963			985,472			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

		June 30, 2026						December 31, 2025
		Non-current			Current			Non-current			Current
Accounts receivable and related parties ^(1)(2)^			19,039			3,199,548			17,285			2,507,770
Provision for doubtful trade receivables			(9,788)			(116,589)			(9,788)			(107,865)
			9,251			3,082,959			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 six-month period ended June 30, 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			-			22,383
Decreases charged to income			-			(9,627)
Applications due to utilization			-			(3,452)
Net exchange and translation differences			-			(511)
Result from net monetary position ^(1)^			-			(69)
Reclassifications			-			-
Balance as of June 30, 2026			9,788	^(2)^		116,589
(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 IN FINANCIAL ASSETS

		June 30, 2026			December 31, 2025
Investments at fair value through profit or loss
Public securities			1,681,356	^(1)^		360,622
Private securities - NO			26,554	^(2)^		19,947
			1,707,910			380,569
(1)	See Note 37.
---	---
(2)	Includes 10,441 of NO from the BNA.
---	---
	HORACIO DANIEL MARÍN<br><br><br>President
---	---

Table of Contents

26

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 JUNE 30, 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

		June 30, 2026			December 31, 2025
Cash and banks<br>^(1)^			476,872			287,600
Short-term investments^(2)^			348,450			476,064
Financial assets at fair value through profit or loss ^(3)^			1,122,344			589,039
			1,947,666			1,352,703
(1)	Includes balances granted as collateral, see Note 34.d) to the annual consolidated financial statements.<br>
---	---
(2)	Includes 42,141 and 18,897 of term deposits and other investments with BNA as of June 30, 2026 and December 31,<br>2025, respectively.
---	---
(3)	See Note 7.
---	---

18. PROVISIONS

Changes in the Group’s provisions for the six-month period ended June 30, 2026 and for the fiscal year ended December 31, 2025 are as follows:

		Provision for lawsuits andcontingencies						Provision for environmentalliabilities						Provision for hydrocarbon wellsabandonment 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			48,061			310			90,266			-			42,975			-			181,302			310
Decreases charged to income			(2,495)			(11)			(714)			-			(8,435)			-			(11,644)			(11)
Increases from business combinations			-			-			-			-			-			-			-			-
Applications due to utilization			-			(10,535)			-			(62,737)			-			(8,283)			-			(81,555)
Net exchange and translation differences			1,020			538			2,904			3,836			12,789			2,447			16,713			6,821
Result from net monetary position ^(1)^			(548)			-			-			-			-			-			(548)			-
Reclassifications and other movements			(10,583)			10,548			(76,287)			74,153			(7,638)			5,356			(94,508)			90,057
Balance as of June 30, 2026			196,218			30,142			114,741			187,027			665,257			131,439			976,216			348,608
(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

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 six-month periods ending June 30, 2026 and 2025 is as follows:

		For the six-month periods ended June 30,
		2026			2025
Current income tax			(1,109,104)			(40,260)
Deferred income tax			(57,979)			(107,790)
			(1,167,083)			(148,050)
	HORACIO DANIEL MARÍN<br><br><br>President
---	---

Table of Contents

27

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 JUNE 30, 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 33.52%. 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 “Regularization plan associated with the calculation of tax loss carryforwards” section to the annual consolidated financial statements.

As of June 30, 2026 and December 31, 2025 the Group has classified as deferred tax asset 35,461 and 13,055, respectively, and as deferred tax liability 660,232 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.

As of June 30, 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

		June 30, 2026						December 31, 2025
		Non-current			Current			Non-current			Current
VAT			-			120,235			-			59,925
Withholdings and perceptions			-			122,860			-			112,127
Royalties			-			113,128			-			74,016
Fuels tax			18,007			194,539			26,459			20,638
Turnover tax			-			13,892			-			9,525
Miscellaneous			277			28,132			290			39,226
			18,284			592,786			26,749			315,457

21. SALARIES AND SOCIAL SECURITY

		June 30, 2026						December 31, 2025
		Non-current			Current			Non-current			Current
Salaries and social security			-			111,076			-			105,389
Bonuses and incentives provision			-			199,749			-			240,216
Cash-settled share-based payments provision ^(1)^			192,719			-			83,504			-
Vacation provision			-			103,432			-			87,910
Provision for severance indemnities ^(2)^			-			18,542			-			44,447
Miscellaneous			5,218			10,160			6,896			8,943
			197,937			442,959			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.2) to the annual consolidated<br>financial statements
---	---

22. LEASE LIABILITIES

The evolution of the Group’s leases liabilities for the six-month period ended June 30, 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			518,345
Financial accretions			35,134
Decreases of leases			(73,756)
Payments			(272,055)
Net exchange and translation differences			19,171
Result from net monetary position ^(1)^			(2)
Balance as of June 30, 2026			1,055,660
(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
---	---

Table of Contents

28

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 JUNE 30, 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

											June 30, 2026									December 31, 2025
		Interest rate^(1)^						Maturity			Non-current				Current					Non-current				Current
Pesos:
Financial loans			43.04	%	-		43.04%		2026-2027			26,113				45,621					88,194				34,630
Account overdrafts			29.00	%	-		29.00%		2026			-				149					-				4,724
												26,113				45,770					88,194				39,354
Currencies other than the peso:
NO ^(2) (3)^			0.00	%	-		10.00%		2026-2047			11,327,176				1,896,211					10,828,470				2,154,333
Exports pre-financing			2.00	%	-		8.65%		2026-2029			685,451				26,603		^(5)^			221,317				286,067
Imports financing			7.46	%	-		7.60%		2026			-				16,240					-				30,201
Financial loans ^(4)^			3.00	%	-		7.85%		2026-2030			551,529				344,416					793,867				811,933
Stock market promissory notes			3.95	%	-		3.95%		2026			-				44,272					-				93,140
												12,564,156				2,327,742					11,843,654				3,375,674
												12,590,269				2,373,512					11,931,848				3,415,028
(1)	Nominal annual interest rate as of June 30, 2026.
---	---
(2)	Disclosed net of 520,036 and 254,221 corresponding to YPF’s own NO repurchased through open market transactions, as<br>of June 30, 2026, and December 31, 2025, respectively.
---	---
(3)	Includes 1,540,523 and 2,139,221 as of June 30, 2026, and December 31, 2025, respectively, of nominal value that<br>will be canceled in pesos at the applicable exchange rate in accordance with the terms of the series issued.
---	---
(4)	Includes 334,824 and 338,464 of loans granted by BNA as of June 30, 2026 and December 31, 2025, respectively.<br>
---	---
(5)	Includes 4,458 as of June 30, 2026 of pre-financing of exports granted by BNA.
---	---

Set forth below is the evolution of the loans for six-month period ended June 30, 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			1,547,031
Payments of loans			(2,234,619)
Payments of interest			(531,511)
Account overdrafts, net			(4,637)
Accrued interest ^(1)^			540,759
Net exchange and translation differences			299,454
Result from net monetary position ^(2)^			428
Increases from business combinations			-
Balance as of June 30, 2026			14,963,781
(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
---	---

Table of Contents

29

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 JUNE 30, 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 indicated)<br><br><br><br> <br>23.LOANS(cont.)

Details regarding the NO of the Group are as follows:

																						June 30, 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			21,894			359			21,494			364
July, December			2017			U.S. dollar		644				Class LIII			Fixed		6.95%			2027			955,612			28,138			939,447			28,006
December			2017			U.S. dollar		537				Class LIV			Fixed		7.00%			2047			783,137			2,039			768,782			2,608
June			2019			U.S. dollar		399				Class I			Fixed		8.50%			2029			588,081			421			577,147			551
February			2021			U.S. dollar		748				Class XVII			Fixed		9.00%			2029			634,349			318,747			779,096			313,660
February			2021			U.S. dollar		576				Class XVIII			Fixed		7.00%			2033			825,565			15,732			808,875			15,585
July			2021			U.S. dollar		384				Class XX			Fixed		5.75%			2032			446,027			94,299			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			-			55,533			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			591,000			-			580,200			-
October			2023			U.S. dollar		128				Class XXVII			Fixed		0.00%			2026			-			185,482			-			192,255
January			2024			U.S. dollar		800				Class XXVIII			Fixed		9.50%			2031			939,068			285,896			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			-			187,111			-			535,423
September			2024			U.S. dollar		540				Class XXXI			Fixed		8.75%			2031			1,545,299			40,334			1,517,683			30,694
October			2024			U.S. dollar		125				Class XXXII			Fixed		6.50%			2028			184,688			2,664			181,313			2,648
October			2024			U.S. dollar		25				Class XXXIII			Fixed		7.00%			2028			36,938			574			36,263			570
January ^(4)^			2025			U.S. dollar		1,632				Class XXXIV			Fixed		8.25%			2034			2,399,092			92,370			1,565,996			61,639
February			2025			U.S. dollar		140				Class XXXV			Fixed		6.25%			2027			-			207,631			202,432			1,216
May ^(2)^			2025			U.S. dollar		140				Class XXXVII			Fixed		7.00%			2027			-			207,689			201,404			2,185
July ^(2)^			2025			U.S. dollar		250				Class XXXVIII			Fixed		7.50%			2027			366,956			5,435			359,585			5,405
July, August ^(2)^			2025			U.S. dollar		225				Class XXXIX			Fixed		8.75%			2030			226,127			12,576			223,290			11,933
August ^(2)^			2025			U.S. dollar		51				Class XL			Fixed		7.50%			2028			74,426			529			73,007			518
October ^(2)^			2025			U.S. dollar		99				Class XLI			Fixed		6.00%			2027			-			147,886			142,715			2,142
December ^(2)^			2025			U.S. dollar		361				Class XLII			Fixed		7.00%			2029			528,446			2,672			281,224			1,572
April^(4)^			2026			U.S. dollar		122				Class XLIII			Fixed		5.50%			2030			180,471			2,094			-			-
																							11,327,176			1,896,211			10,828,470			2,154,333
(1)	Nominal annual interest rate as of June 30, 2026.
---	---
(2)	During the six-month period ended June 30, 2026, the Group has fully complied with the use of proceeds disclosed<br>in the corresponding pricing supplements.
---	---
(3)	Total nominal value issued net of the nominal values canceled through exchanges or repurchases, expressed in millions.<br>
---	---
(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
---	---

Table of Contents

30

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 JUNE 30, 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

		June 30, 2026						December 31, 2025
		Non-current			Current			Non-current			Current
Liabilities for concessions and assignment agreements			361,187			256,822			132,286			234,259
Liabilities for contractual claims ^(1)^			10,134			82,523			78,377			81,252
Provision for operating optimizations ^(2)^			-			73,647			-			31,809
Liabilities for agreements^(3)^			434,852			672,757			329,496			230,115
Miscellaneous			1,534			3,172			1,449			2,876
			807,707			1,088,921			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 liabilities related to (i) the assignment of the exploitation concessions in the Province of<br>Santa Cruz within the context of the Mature Fields Project (see Note 11.a.2) to the annual consolidated financial statements) and (ii) the asset exchange between YPF and Pluspetrol (see Note 4).
---	---

25. ACCOUNTS PAYABLE

		June 30, 2026						December 31, 2025
		Non-current			Current			Non-current			Current
Trade payable and related parties ^(1)^			5,829			3,291,277			5,806			3,149,111
Guarantee deposits			1,206			5,081			1,197			4,890
Payables with partners of JO and Consortiums			-			56,201			1,401			70,101
Miscellaneous			-			24,925			-			21,786
			7,035			3,377,484			8,404			3,245,888
(1)	See Note 37 for information about related parties.
---	---

26. REVENUES

		For the six-month periods ended June 30,
		2026			2025
Revenue from contracts with customers			16,235,417			10,209,948
National Government incentives ^(1)^			43,042			73,835
			16,278,459			10,283,783
(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 six-month period ended June 30, 2026
		Upstream			Midstream<br>andDownstream			LNG and<br>Integrated<br>Gas			New Energies			CentralAdministrationand Others			Total
Diesel			-			5,939,088			-			-			-			5,939,088
Gasolines			-			3,524,827			-			-			-			3,524,827
Natural gas ^(1)^			10,125			20,759			1,075,639			513,289			-			1,619,812
Crude oil			23,551			800,478			-			-			-			824,029
Jet fuel			-			874,381			-			-			-			874,381
Lubricants and by-products			-			273,145			-			-			-			273,145
LPG			-			294,348			-			-			-			294,348
Fuel oil			-			96,315			-			-			-			96,315
Petrochemicals			-			490,955			-			-			-			490,955
Fertilizers and crop protection products			-			153,329			-			-			-			153,329
Flours, oils and grains			-			525,934			-			-			-			525,934
Asphalts			-			81,311			-			-			-			81,311
Goods for resale at gas stations			-			88,513			-			-			-			88,513
Income from services			-			1,060			-			-			94,124			95,184
Income from construction contracts			-			-			-			-			240,392			240,392
Virgin naphtha			-			169,328			-			-			-			169,328
Petroleum coke			-			210,481			-			-			-			210,481
LNG regasification			-			30,770			-			-			-			30,770
Other goods and services			36,436			275,010			8,620			133,642			249,567			703,275
			70,112			13,850,032			1,084,259			646,931			584,083			16,235,417
	HORACIO DANIEL MARÍN<br><br><br>President
---	---

Table of Contents

31

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 JUNE 30, 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 six-month period ended June 30, 2025
		Upstream			Midstream<br>andDownstream			LNG andIntegrated<br>Gas			New Energies			CentralAdministrationand Others			Total
Diesel			-			3,423,227			-			-			-			3,423,227
Gasolines			-			2,144,904			-			-			-			2,144,904
Natural gas ^(1)^			21,055			8,293			827,077			401,615			-			1,258,040
Crude oil			1,110			575,387			-			-			-			576,497
Jet fuel			-			416,839			-			-			-			416,839
Lubricants and by-products			-			234,252			-			-			-			234,252
LPG			-			181,675			-			-			-			181,675
Fuel oil			-			75,306			-			-			-			75,306
Petrochemicals			-			296,469			-			-			-			296,469
Fertilizers and crop protection products			-			115,126			-			-			-			115,126
Flours, oils and grains			-			348,253			-			-			-			348,253
Asphalts			-			56,867			-			-			-			56,867
Goods for resale at gas stations			-			74,604			-			-			-			74,604
Income from services			-			-			-			700			83,021			83,721
Income from construction contracts			-			-			-			-			225,222			225,222
Virgin naphtha			-			85,145			-			-			-			85,145
Petroleum coke			-			121,252			-			-			-			121,252
LNG regasification			-			25,094			-			-			-			25,094
Other goods and services			34,098			172,669			6,268			96,368			158,052			467,455
			56,263			8,355,362			833,345			498,683			466,295			10,209,948
(1)	Includes 1,104,079 and 861,442 corresponding to sales of natural gas produced by the Company for the six-month periods<br>ended June 30, 2026 and 2025, respectively.
---	---

Sales channels

		For the six-month period ended June 30, 2026
		Upstream			Midstream<br>andDownstream			LNG andIntegrated<br>Gas			New Energies			CentralAdministrationand Others			Total
Gas stations			-			5,770,798			-			-			-			5,770,798
Power plants			-			-			314,673			201,677			-			516,350
Distribution companies			-			-			269,353			-			-			269,353
Retail distribution of natural gas			-			-			-			309,357			-			309,357
Industries, transport and aviation			10,125			3,420,354			495,323			61,056			-			3,986,858
Agriculture			-			1,577,180			-			-			-			1,577,180
Petrochemical industry			-			597,476			-			-			-			597,476
Trading			-			1,632,844			-			-			-			1,632,844
Oil companies			23,551			528,248			-			-			-			551,799
Commercialization of LPG			-			81,737			-			-			-			81,737
Other sales channels			36,436			241,395			4,910			74,841			584,083			941,665
			70,112			13,850,032			1,084,259			646,931			584,083			16,235,417
		For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
		Upstream			Midstream<br>andDownstream			LNG andIntegrated<br>Gas			New Energies			CentralAdministrationand Others			Total
Gas stations			-			3,634,908			-			-			-			3,634,908
Power plants			-			13,087			241,976			32,740			-			287,803
Distribution companies			-			-			233,733			-			-			233,733
Retail distribution of natural gas			-			-			-			254,627			-			254,627
Industries, transport and aviation			22,165			2,057,301			356,268			167,485			-			2,603,219
Agriculture			-			978,853			-			-			-			978,853
Petrochemical industry			-			386,050			-			-			-			386,050
Trading			-			971,725			-			-			-			971,725
Oil companies			-			102,530			-			-			-			102,530
Commercialization of LPG			-			57,849			-			-			-			57,849
Other sales channels			34,098			153,059			1,368			43,831			466,295			698,651
			56,263			8,355,362			833,345			498,683			466,295			10,209,948
	HORACIO DANIEL MARÍN<br><br><br>President
---	---

Table of Contents

32

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 JUNE 30, 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 13,450,164 and 8,565,674 for the six-month periods ended June 30, 2026 and 2025, respectively.

Sales in the international market amounted to 2,785,253 and 1,644,274 for the six-month periods ended June 30, 2026 and 2025, respectively.

•	Contract balances

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

		June 30, 2026						December 31, 2025
		Non-current			Current			Non-current			Current
Credits for contracts included in the item of “Trade receivables”			17,326			3,112,864			15,572			2,435,111
Contract assets			-			9,746			-			4,522
Contract liabilities			348,956			284,012			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 six-month periods ended June 30, 2026 and 2025 the Group has recognized 83,885 and 58,332, 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 six-month periods ended June 30,
		2026			2025
Inventories at beginning of year			2,098,590			1,593,666
Purchases			4,123,586			2,490,477
Production costs ^(1)^			5,748,786			4,968,530
Translation effect			50,759			259,484
Inventories write-down^(3)^			(11,434	)		-
Adjustment for inflation ^(2)^			10,529			8,578
Other movements^(4)^			17,524			-
Inventories at end of the period			(2,426,839	)		(1,779,237	)
			9,611,501			7,541,498
(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.
---	---
(3)	See Note 13.
---	---
(4)	Includes, mainly, collection of receivables settled in kind arising from the sale of assets.
---	---
	HORACIO DANIEL MARÍN<br><br><br>President
---	---

Table of Contents

33

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 JUNE 30, 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

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 six-month periods ended June 30, 2026 and 2025:

		For the six-month period ended June 30, 2026
		Production<br>costs ^(2)^			Administrativeexpenses ^(3)^			Sellingexpenses			Explorationexpenses			Total
Salaries and social security taxes			635,893			329,085			123,669			10,381			1,099,028
Fees and compensation for services			48,327			202,469			37,995			340			289,131
Other personnel expenses			190,602			27,714			10,922			1,418			230,656
Taxes, charges and contributions			83,791			140,615			740,432	^(1)^		-			964,838
Royalties, easements and fees			875,400			-			1,725			1,014			878,139
Insurance			30,538			4,116			749			-			35,403
Rental of real estate and equipment			84,079			2,301			9,761			-			96,141
Survey expenses			-			-			-			3,030			3,030
Depreciation of property, plant and equipment			1,922,195			35,674			75,777			-			2,033,646
Amortization of intangible assets			28,181			17,361			351			-			45,893
Depreciation of right-of-use assets			201,538			21			7,863			-			209,422
Industrial inputs, consumable materials and supplies			253,142			10,276			6,638			1,290			271,346
Operation services and other service contracts			140,422			2,799			45,650			6,317			195,188
Preservation, repair and maintenance			788,891			24,549			24,659			8,568			846,667
Unproductive exploratory drillings			-			-			-			16,647			16,647
Transportation, products and charges			410,635			-			362,279			-			772,914
Provision for doubtful receivables			-			-			9,752			-			9,752
Publicity and advertising expenses			-			52,683			23,977			-			76,660
Fuel, gas, energy and miscellaneous			55,152			18,486			60,596			2,953			137,187
			5,748,786			868,149			1,542,795			51,958			8,211,688
(1)	Includes 225,995 corresponding to export withholdings and 460,523 corresponding to turnover tax.
---	---
(2)	Includes 22,234 corresponding to research and development activities.
---	---
(3)	Includes 7,553 corresponding to fees and remunerations of Directors of YPF’s Board of Directors and Statutory<br>Auditors.
---	---
		For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
		Production<br>costs ^(2)^			Administrativeexpenses ^(3)^			Sellingexpenses			Explorationexpenses			Total
Salaries and social security taxes			611,346			157,020			84,543			2,340			855,249
Fees and compensation for services			62,644			147,981			25,357			174			236,156
Other personnel expenses			171,693			18,655			7,641			2,219			200,208
Taxes, charges and contributions			38,724			115,191			504,715	^(1)^		-			658,630
Royalties, easements and fees			597,183			-			1,275			3,386			601,844
Insurance			39,185			1,970			903			-			42,058
Rental of real estate and equipment			144,625			264			8,134			-			153,023
Survey expenses			-			-			-			22,882			22,882
Depreciation of property, plant and equipment			1,489,933			24,573			55,676			-			1,570,182
Amortization of intangible assets			22,791			11,660			331			-			34,782
Depreciation of right-of-use assets			147,328			31			6,926			-			154,285
Industrial inputs, consumable materials and supplies			292,558			3,640			7,534			1,615			305,347
Operation services and other service contracts			182,873			8,591			30,672			8,747			230,883
Preservation, repair and maintenance			842,535			19,148			19,936			12,083			893,702
Unproductive exploratory drillings			-			-			-			854			854
Transportation, products and charges			278,551			-			269,702			-			548,253
Provision for doubtful receivables			-			-			25,831			-			25,831
Publicity and advertising expenses			-			31,356			22,543			-			53,899
Fuel, gas, energy and miscellaneous			46,561			8,030			49,681			1,527			105,799
			4,968,530			548,110			1,121,400			55,827			6,693,867
(1)	Includes 152,136 corresponding to export withholdings and 313,518 corresponding to turnover tax.
---	---
(2)	Includes 19,172 corresponding to research and development activities.
---	---
(3)	Includes 5,860 corresponding to fees and remunerations of Directors of YPF’s Board of Directors and Statutory<br>Auditors.
---	---
	HORACIO DANIEL MARÍN<br><br><br>President
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Table of Contents

34

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 JUNE 30, 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 six-month periods ended June 30,
		2026			2025
Lawsuits			(43,412	)		(16,616	)
Export Increase Program ^(1)^			-			19,898
Result from sale of assets ^(2)^			5,475			203,071
Result from changes in fair value of assets held for sale<br>^(2)^			(184,397	)		(266,247	)
Provision for severance indemnities ^(2)^			8,612			(28,026	)
Provision for operating optimizations ^(2)^			(79,011	)		(36,267	)
Provision for obsolescence of materials and equipment<br>^(2)^			28,042			(290,899	)
Result from revaluation of companies^(3)^			-			52,934
Result from liabilities for agreements			(119,833	)		-
Other insurance income			11,401			-
Miscellaneous			(24,516	)		(24,543	)
			(397,639	)		(386,695	)
(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).
---	---
(3)	See Note 3 to the annual consolidated financial.
---	---

30. NET FINANCIAL RESULTS

		For the six-month periods ended June 30,
		2026			2025
Financial income
Interest on cash and cash equivalents and investments in financial assets			25,023			15,221
Interest on trade receivables			52,883			23,013
Other financial income			56,502			8,938
Total financial income			134,408			47,172
Financial costs
Loan interest			(533,666	)		(354,660	)
Hydrocarbon well abandonment provision financial accretion<br>^(1)^			(140,323	)		(188,163	)
Other financial costs			(179,343	)		(66,047	)
Total financial costs			(853,332	)		(608,870	)
Other financial results
Exchange differences generated by loans			(2,102	)		(1,016	)
Exchange differences generated by cash and cash equivalents and investments in financial assets			(12,556	)		(43,548	)
Other exchange differences, net			58,701			40,260
Result on financial assets at fair value through profit or loss			132,889			64,285
Result from derivative financial instruments			(8,812	)		1,546
Result from net monetary position			(65,786	)		(22,152	)
Result from transactions with financial assets			-			6
Total other financial results			102,334			39,381
Total net financial results			(616,590	)		(522,317	)
(1)	Includes 97,348 and 123,779 corresponding to the financial accretion of liabilities directly associated with assets<br>held for sale for the six-month periods ending June 30, 2026 and 2025, respectively, see Notes 2.b.13) and 11.a) to the annual consolidated financial statements.
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	HORACIO DANIEL MARÍN<br><br><br>President
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Table of Contents

35

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 JUNE 30, 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)

31. INVESTMENTS IN JOINT OPERATIONS AND CONSORTIUMS

The assets and liabilities as of June 30, 2026 and December 31, 2025, and expenses for the six-month periods ended June 30, 2026 and 2025, of JO and Consortiums in which the Group participates are as follows:

		June 30, 2026			December 31, 2025
Non-current assets ^(1)^			10,640,494			10,060,481
Current assets			488,046			489,163
Total assets			11,128,540			10,549,644
Non-current liabilities			368,802			354,707
Current liabilities			1,033,920			808,643
Total liabilities			1,402,722			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 six-month periods ended June 30,
---	---	---	---	---	---	---
		2026			2025
Production cost			2,099,115			1,455,238
Exploration expenses			7,234			6,787

32. SHAREHOLDERS’ EQUITY

As of June 30, 2026, the Company’s capital amounts to 3,916 and treasury shares amount to 17 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 and 1 vote per share. These shares are fully subscribed, paid-in and authorized for stock exchange listing. See “Stock split on YPF’s ordinary shares” section.

As of June 30, 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 six-month period ended June 30, 2026, the Company has repurchased 461,311 of its own shares issued for an amount of 38,437 plus commissions, for purposes of compliance with the share-based benefit plans (see Note 38). During the six-month period ended June 30, 2025, the Company has not repurchased any of its own shares.

On April 30, 2026, the Shareholders’ Meeting was held, which approved the statutory financial statements of YPF (see Note 2.b)) for the fiscal year ended December 31, 2025 and, in addition, in relation to the retained earnings as of December 31, 2025, approved: (i) completely release the reserve for purchase of treasury shares and the reserve for investments; (ii) absorb accumulated losses in unappropriated retained earnings and losses up to the amount of 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.

Stock split on YPF’s ordinary shares

The Shareholders’ Meeting aforementioned approved the change of the par value of the Company’s shares from $ 10 (ten pesos) to $ 1 (one peso) per share, which means that for every share with a par value of $ 10 outstanding, 10 shares with a par value of $1 each were issued, while the Company’s capital stock remains unchanged. Effective August 4, 2026, the distribution of shares and the change in par value (“Split”) took effect simultaneously. In accordance with the aforementioned, after the Split, the Company’s capital remains at 3,933, represented by 3,933,127,930 book-entry shares of common stock with a par value of $ 1 each. Likewise, the Split did not change the proportion of each shareholder’s equity interest or their economic or voting rights, but only changed the number of shares outstanding and their par value per share.

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

Table of Contents

36

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 JUNE 30, 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)

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 six-month periodsended June 30,
		2026			2025
Net profit			2,302,076			44,178
Weighted average number of shares outstanding			3,918,520,757			3,922,052,100
Basic and diluted earnings per share			587.49			11.26

In accordance with IAS 33, the calculation of basic and diluted earnings per share was adjusted retrospectively to include the effect of the stock split, see Note 32 “Stock split on YPF’s ordinary shares” section.

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 ASSETS AND LIABILITIES

Contingent assets and liabilities are described in Note 33 to the annual consolidated financial statements. Updates for the six-month period ended June 30, 2026, are described below:

•	Asociación Superficiarios de la Patagonia (“ASSUPA”)

Concessionary companies in the Neuquina basin areas

On May 21, 2026, the CSJN issued a final ruling dismissing the lawsuit filed by ASSUPA, finding that it did not meet the minimum requirements necessary to ensure an adequate defense in court. Based on this judgment, ASSUPA’s claim has been definitively dismissed in these proceedings.

•	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.

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.

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

Table of Contents

37

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 JUNE 30, 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 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.

On May 8, 2026, Plaintiffs sought en banc rehearing of the Court of Appeals’ March 27, 2026 decision.

On June 2, 2026, the Court of Appeals denied Plaintiffs’ petition for rehearing en banc filed on May 8, 2026.

On June 10, 2026, the Court of Appeals’ mandate issued, concluding the appeal and remanding the case to the District Court for further proceedings in accordance with the Court of Appeals’ 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

Contractual commitments are described in Note 34 to the annual consolidated financial statements. Updates for the six-month period ended June 30, 2026, are described below:

CENCH in the Province of Neuquén

Within the framework of the asset exchange agreement between YPF and Pluspetrol (see Note 4), on May 29, 2026, through several decrees issued by the Executive Branch of the Province of Neuquén, the granting of the CENCH in the “Meseta Buena Esperanza I and II”, “Aguada Villanueva Norte” and “Las Tacanas I and II” blocks was approved for a term of 35 years. As of the date of issuance of these condensed interim consolidated financial statements, YPF holds 100% interest in those blocks, and the commitments undertaken include investments and payments related to infrastructure and corporate social responsibility contributions.

Additionally, on June 4, 2026, an Agreement was executed with the Province of Neuquén in connection with the LNG capacity development project in Argentina (“Argentina LNG Project”), which establishes certain benefits and obligations, including: (i) a reduction in the royalty rate applicable to natural gas; (ii) an exemption from the turnover tax; (iii) the establishment of dispute resolution mechanisms through arbitration by the International Chamber of Commerce of Paris and, for certain matters, before the local courts of Neuquén; and (iv) tax stability, among others. Accordingly, the concessionaire’s main obligation consists of carrying out infrastructure projects in the Province of Neuquén for a total amount of US$ 175 million. As of the date of issuance of these condensed interim consolidated financial statements, the Agreement is subject to the fulfillment of closing conditions, including the signing of the Final Investment Decision (“FID”) for the Argentina LNG Project.

Argentina LNG Project

In June 2026, YPF signed agreements with Eni Argentina LNG B.V. (“Eni”) and XRG ARG LIMITED (“XRG”) to incorporate these companies in the development of the Argentina LNG Project through the sale of equity interests in the subsidiary UPCO ARLNG I S.A.U. (“UPCO ARLNG”), a company wholly owned by YPF, which will hold the “Meseta Buena Esperanza I and II”, “Aguada Villanueva Norte”, and “Las Tacanas I and II” blocks. As of the date of issuance of these condensed interim consolidated financial statements, these agreements are subject to the fulfillment of closing conditions, including the regulatory authority’s approval of the transfer of these YPF blocks to UPCO ARLNG.

Within this context, Eni and XRG will acquire 32% of UPCO ARLNG’s capital stock, respectively, while YPF will retain a 36% of the capital stock. As of the closing date of this transaction, the aforementioned blocks located in the Vaca Muerta formation will be dedicated to the development of the Argentina LNG Project.

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

Table of Contents

38

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 JUNE 30, 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)

35.   CONTRACTUAL COMMITMENTS (cont.)

The Argentina LNG Project is an integrated initiative that combines the development of unconventional natural gas resources in the Vaca Muerta formation with midstream and liquefaction infrastructure, with the objective of supplying liquefied natural gas to international markets.

36. MAIN REGULATIONS

Main regulations are described in Note 35 to the annual consolidated financial statements. Updates for the six-month period ended June 30, 2026, are described below:

●	Regulations applicable to the Downstream activities

On July 22, 2026, Resolution SE No. 166/2026 was published, establishing the “Export operations registry,” intended to record notifications, objections, and certificates of free export, and repeals Decree No. 645/2002 and Resolutions SE No. 303/1994, SRH No. E-241/2017, and SE No. 175/2023.

The Resolution establishes that exports of crude oil, gasoline (except aviation), diesel, propane, butane, and LPG must be reported. The Undersecretariat of Hydrocarbons will be the authority responsible for granting or objecting to certificates of free export, and may object to the export (in whole or in part) based solely on technical and/or economic grounds arising from the procedure for the export of liquid hydrocarbons and their derivatives set forth in Resolution SE No. 166/2026.

●	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.

●	Investment incentive programs

On June 26, 2026, Resolution No. 873/2026 of the Ministry of Economy was published, approving the Group’s participation in the Large Investment Incentive Regime (“RIGI”) for the following project:

-	San Matías Pipeline Project, through our subsidiary Sur Inversiones Energéticas, for the construction of<br>a dedicated natural gas pipeline to transport natural gas for liquefaction.
●	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.

●	Export duties

On June 3, 2026, Decree No. 423/2026 was published, which established a gradual and permanent reduction scheme in export duty on products such as soybean, soybean products such as soybean oil and soybean meal, and grains such as wheat, corn and sorghum. The Decree established a phased reduction in the rates depending on the product: (i) in the case of soybean, the rate will begin to be reduced monthly starting in January 2027 until it reaches 15.0% in December 2028; (ii) for soybean byproducts such as soybean oil and soybean meal, rates will begin to decrease monthly starting in January 2027 until they reach 14.0% in December 2028; (iii) for corn, the rate will begin to decrease quarterly starting in January 2027 until it reaches 5.5% in December 2028; and (iv) for wheat, the rate was reduced once in June 2026, settling at 5.5%.

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

Table of Contents

39

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 JUNE 30, 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 June 30, 2026, the equity of the Company exceeds the minimum equity required by such rules, which amounts to 949.

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.

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

Table of Contents

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>NOTES TO THECONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS<br> <br>AS OF JUNE 30, 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.)

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 six-month periods ended June 30,
		2026			2025
Balance at the beginning of the fiscal year			5,695,203			4,043,221
Other comprehensive income			106,200			668,659
Balance at the end of the period			5,801,403			4,711,880

As of June 30, 2026 and 2025 the translation effect corresponding to the “Issuance premiums” account amounts to 944,950 and 767,672, respectively, and is included within “Other comprehensive income”.

As of June 30, 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 (96,986) and (76,788), respectively, and is included within “Other comprehensive income”.

The dates indicated correspond to the date of publication in the respective Official Gazettes,unless otherwise indicated.

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

Table of Contents

41

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 JUNE 30, 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

The tables below present the balances with associates and joint ventures as of June 30, 2026 and December 31, 2025:

		June 30, 2026
		Other receivables						Trade<br>receivables			Investments infinancial assets			Accountspayable			Contractliabilities			Contractassets
		Non-Current			Current			Current			Current			Current			Current			Current
Joint Ventures:
YPF EE			-			10,541			22,464			6,053			54,641			-			-
Profertil ^(1)^			-			-			-			-			-			-			-
MEGA			-			-			115,588			-			10,006			58			7,255
Refinor ^(1)^			-			-			-			-			-			-			-
CT Barragán			-			-			22,883			-			-			-			-
OTA			-			-			259			-			2,245			-			-
			-			10,541			161,194			6,053			66,892			58			7,255
Associates:
CDS			-			223			46,045			-			-			-			-
YPF Gas			-			8,128			30,274			-			2,224			-			-
Oldelval			215,153			35,520			103			4,973			22,368			-			-
Termap			-			-			-			-			4,439			-			-
GPA			-			-			-			-			3,014			-			-
OTAMERICA			65,200			3,130			-			-			7,189			-			-
Gas Austral			-			-			21			-			10			-			-
VMOS			-			9,348			69,151			-			-			100,727			-
			280,353			56,349			145,594			4,973			39,244			100,727			-
			280,353			66,890			306,788			11,026			106,136			100,785			7,255
		December 31, 2025
		Other receivables						Trade<br>receivables			Investments infinancial 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)^			-			-			-			-			-			-			-
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
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42

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 JUNE 30, 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 six-month periods ended June 30, 2026 and 2025:

		For the six-month period ended June 30,
		2026									2025
		Revenues			Costs andexpenses			Net interestincome (loss)			Revenues			Costs andexpenses			Net interestincome (loss)
Joint Ventures:
YPF EE			26,174			87,458			-			12,420			77,746			84
Profertil ^(1)^			-			-			-			43,823			49,086			-
MEGA			229,573			22,768			(66	)		212,324			1,106			-
Refinor ^(1)^			-			-			-			36,289			5,789			437
CT Barragán			18,066			-			-			5			-			-
OTA			38			11,996			-			21			13,078			-
			273,851			122,222			(66	)		304,882			146,805			521
Associates:
CDS			58,902			-			16			5,367			-			17
YPF Gas			64,615			1,321			1,226			49,707			2,075			67
Oldelval			509			99,211			6			347			53,754			3
Termap			-			15,408			-			-			11,672			-
GPA			-			16,341			-			-			13,532			-
OTAMERICA			26			34,326			-			16			30,551			1
Gas Austral			1,191			17			-			1,877			23			3
VMOS			115,727			-			-			26,084			-			-
			240,970			166,624			1,248			83,398			111,607			91
			514,821			288,846			1,182			388,280			258,412			612
(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)
				June 30, 2026			December 31,2025			For the six-month periods endedJune 30,
Client / Suppliers		Ref.								2026			2025
SE		(1)(14)			73,783			60,005			39,116			67,003
SE		(2)(14)			3,409			1,088			2,142			3,793
SE		(3)(14)			167			167			-			-
SE		(4)(14)			4,202			6,189			1,784			3,039
SE		(5)(14)			6,813			6,813			-			-
Secretary of Transport		(6)(14)			5,123			5,210			-			-
Secretary of Industry		(7)(14)			-			172			-			-
CAMMESA		(8)			130,614			126,908			357,376			262,068
CAMMESA		(9)			(3,070)			(2,087)			(14,645)			(5,961)
ENARSA		(10)			219,952			184,188			178,554			153,525
ENARSA		(11)			(56,819)			(47,674)			(35,958)			(25,097)
Aerolíneas Argentinas S.A.		(12)			93,270			47,540			272,887			158,090
Aerolíneas Argentinas S.A.		(13)			-			(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<br>service 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<br>Note 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
---	---

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43

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 JUNE 30, 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.)

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 June 30, 2026, the Group holds Bonds of the Argentine Republic 2029 and 2030, National Treasury Bills issued by the National Government 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 six-month periods ended June 30, 2026 and 2025, YPF and CHNC carried out transactions such as the purchases of crude oil by YPF for 35,111 and 268,847, respectively, among others. These transactions were consummated in accordance with the general and regulatory conditions of the market. The net balance payable to CHNC as of June 30, 2026 and December 31, 2025 amounts to 1,030 and 18,842, respectively. 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 six-month periods ended June 30, 2026 and 2025:

		For the six-month periods ended June 30,
		2026			2025
Short-term benefits ^(1)^			30,671			15,711
Long-term Plan - Value Generation Plan			87,485			6,022
Post-retirement benefits			675			457
			118,831	^(2)^		22,190
(1)	Does not include social security contributions of 7,124 and 3,309 for the six-month periods ended June 30, 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$ 80 million and US$ 19 million for the years ended June <br>30, 2026 and 2025, respectively.
---	---

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 4,181 and 2,802 for the six-month periods ended June 30, 2026 and 2025, respectively.

Short-term benefit programs

The amount charged to expense related to the short-term benefit programs was 206,029 and 99,253 for the six-month periods ended June 30, 2026 and 2025, respectively.

Long-term Plan

The amount charged to expense in relation to these share-based benefit plans was 10,151 and 5,824 to be settled in equity instruments, for the six-month periods ended June 30, 2026 and 2025, respectively.

Value Generation Plan

As of June 30, 2026, there are 4.6 million number of PSARs outstanding with and a weighted average fair value of US$ 28.06 per PSARs. The charge to expense related to the Value Generation Plan was 105,266 and 1,116 for the six-month periods ended June 30, 2026 and 2025, respectively. As of December 31, 2025, weighted average fair value was US$ 20.84 per PSARs.

Note 2.b.11) to the annual consolidated financial statements describes the accounting policies related to the Long-term Plan and the Value Generation Plan. Repurchases of treasury shares are disclosed in Note 32.

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

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44

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 JUNE 30, 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

		June 30, 2026									December 31, 2025
		Amount incurrenciesother thanthe peso			Exchange ratein force ^(1)^			Total			Amount incurrenciesother thanthe peso			Exchange ratein force ^(1)^			Total
Non-current assets
Other receivables
U.S. dollar			581			1,473.00			855,806			466			1,446.00			673,812
Total non-current assets									855,806									673,812
Current assets
Other receivables
U.S. dollar			161			1,473.00			237,686			676			1,446.00			976,984
Chilean peso			9,234			1.60			14,775			10,035			1.59			15,956
Trade receivables
U.S. dollar			922			1,473.00			1,358,066			621			1,446.00			898,569
Investments in financial assets
U.S. dollar			1,152			1,473.00			1,697,469			241			1,446.00			347,947
Cash and cash equivalents
U.S. dollar			469			1,473.00			690,490			440			1,446.00			635,922
Total current assets									3,998,486									2,875,378
Total assets									4,854,292									3,549,190
Non-current liabilities
Provisions
U.S. dollar			549			1,482.00			813,600			521			1,455.00			758,001
Contract liabilities
U.S. dollar			235			1,482.00			348,956			180			1,455.00			261,205
Salaries and social security
U.S. dollar			130			1,482.00			192,719			57			1,455.00			83,504
Lease liabilities
U.S. dollar			409			1,482.00			606,645			272			1,455.00			396,386
Loans
U.S. dollar			8,478			1,482.00			12,564,156			8,140			1,455.00			11,843,654
Other liabilities
U.S. dollar			537			1,482.00			796,039			357			1,455.00			519,892
Total non-current liabilities									15,322,115									13,862,642
Current liabilities
Liabilities directly associated with assets held for sale
U.S. dollar			978			1,482.00			1,448,817			1,178			1,455.00			1,713,545
Provisions
U.S. dollar			235			1,482.00			348,608			229			1,455.00			332,986
Contract liabilities
U.S. dollar			36			1,482.00			53,352			19			1,455.00			27,645
Salaries and social security
U.S. dollar			145			1,482.00			214,890			89			1,455.00			129,495
Lease liabilities
U.S. dollar			303			1,482.00			448,983			297			1,455.00			432,423
Loans
U.S. dollar			1,571			1,482.00			2,327,742			2,320			1,455.00			3,375,674
Other liabilities
U.S. dollar			689			1,482.00			1,021,735			381			1,455.00			554,118
Accounts payable
U.S. dollar			1,214			1,482.00			1,798,826			1,053			1,455.00			1,532,201
Euro			11			1,695.26			18,851			19			1,713.12			32,675
Total current liabilities									7,681,804									8,130,762
Total liabilities									23,003,919									21,993,404
(1)	Exchange rate as of June 30, 2026 and December 31, 2025 according to the BNA.
---	---
	HORACIO DANIEL MARÍN<br><br><br>President
---	---

Table of Contents

45

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 JUNE 30, 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

On August 7, 2026, the Company issued Additional Class XLIII NO in the local market, maturing in March 2030, for a nominal amount of US$ 171 million. The NO were issued at a price of 101.72%, resulting in a yield of 5.50%. The principal will be amortized in a single installment upon maturity.

Optimization plan of the conventional Upstream portfolio

As part of the optimization plan of the conventional Upstream portfolio (see Note 12), on July 8, 2026, YPF’s Board of Directors approved the disposal of new groups of assets related to areas in the Provinces of Mendoza and La Pampa.

In relation to the aforementioned, on August 5, 2026, YPF signed agreements for (i) the assignment by YPF to San Benito Upstream S.A.U. of its interest in the “CNQ-7 Gobernador Ayala”, “CNQ-7A” and “Jagüel Casa de Piedra” exploitation concessions, located in the Provinces of Mendoza and La Pampa, and (ii) the assignment by YPF to Energía Mendocina S.A. and Compañía Andina de Petróleo y Gas S.A. of its interest in the “Chachahuén Sur”, “Cerro Morado Este”, “Puesto Hernández” and “Chihuido de la Sierra Negra” exploitation concessions, located in the Province of Mendoza. The sale price of the transactions amounted to US$ 205 million and US$ 200 million, respectively, subject to the applicable price adjustments in each case. As of the date of issuance of these condensed interim consolidated financial statements, these assignment agreements are subject to the fulfillment of closing conditions.

The disposal of these groups of assets did not meet the IFRS 5 “Non-current assets held for sale and discontinued operations” held for sale criteria as of June 30, 2026, accordingly these disposal groups of assets were not classified as held for sale as of that date. The assets and liabilities comprising the transactions to be classified as held for sale are property, plant and equipment with a carrying amount of 397,448, and the related provision for hydrocarbon well abandonment obligations with a carrying amount of 110,813, as of June 30, 2026.

Sale of equity participation in Metrogas and Metroenergía

As part of the Company’s asset portfolio assessment, on August 10, 2026, YPF’s Board of Directors approved the signing of a share purchase and sale agreement with Empresa Distribuidora y Comercializadora Norte S.A. (“EDENOR”), whereby, subject to the fulfillment of the closing conditions set forth in such agreement, YPF agreed to transfer (i) 70% of the shares and capital stock of Metrogas and (ii) 5% of the shares and capital stock of Metroenergía. The sale price of the transactions amounts to US$ 780 millions, and as a result of the transaction, YPF will dispose of its entire equity participation in those subsidiaries.

Likewise, the closing of the transaction is subject to the fulfillment of conditions precedent, including, among others, obtaining applicable regulatory approvals, such as approval from the National Regulatory Agency for Gas and Electricity (ENReGE).

As of the date of issuance of these condensed interim consolidated financial statements and due to the recent timing of the transaction, the Group is in the process of determining the accounting impact of this transaction.

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 June 30, 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 August 10, 2026.

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

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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: August 17, 2026		By:			/s/ Margarita Chun
		Name:			Margarita Chun
		Title:			Market Relations Officer