#1INVESTOR PRESENTATION JUNE, 2022 YPF YPF YPF#2IMPORTANT NOTICE YPF Safe harbor statement under the U.S. Private Securities Litigation Reform Act of 1995 (the "Private Securities Litigation Reform Act"). This document contains statements that YPF believes constitute forward-looking statements under within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements may include statements regarding the intent, belief, plans, current expectations or objectives of YPF and its management, including statements with respect to YPF's future financial condition, financial, operating, reserve replacement and other ratios, results of operations, business strategy, geographic concentration, business concentration, production and marketed volumes and reserves, as well as YPF's plans, expectations or objectives with respect to future capital expenditures, investments, expansion and other projects, exploration activities, ownership interests, divestments, cost savings and dividend payout policies. These forward-looking statements may also include assumptions regarding future economic and other conditions, such as future crude oil and other prices, refining and marketing margins and exchange rates. These statements are not guarantees of future performance, prices, margins, exchange rates or other events and are subject to material risks, uncertainties, changes and other factors which may be beyond YPF's control or may be difficult to predict. YPF's actual future financial condition, financial, operating, reserve replacement and other ratios, results of operations, business strategy, geographic concentration, business concentration, production and marketed volumes, reserves, capital expenditures, investments, expansion and other projects, exploration activities, ownership interests, divestments, cost savings and dividend payout policies, as well as actual future economic and other conditions, such as future crude oil and other prices, refining margins and exchange rates, could differ materially from those expressed or implied in any such forward-looking statements. Important factors that could cause such differences include, but are not limited to, oil, gas and other price fluctuations, supply and demand levels, currency fluctuations, exploration, drilling and production results, changes in reserves estimates, success in partnering with third parties, loss of market share, industry competition, environmental risks, physical risks, the risks of doing business in developing countries, legislative, tax, legal and regulatory developments, economic and financial market conditions in various countries and regions, political risks, wars and acts of terrorism, natural disasters, project delays or advancements and lack of approvals, as well as those factors described in the filings made by YPF and its affiliates with the Securities and Exchange Commission, in particular, those described in "Item 3. Key Information-Risk Factors" and "Item 5. Operating and Financial Review and Prospects" in YPF's Annual Report on Form 20-F for the fiscal year ended December 31, 2021 filed with the U.S. Securities and Exchange Commission (the "SEC"). In light of the foregoing, the forward-looking statements included in this document may not occur. Except as required by law, YPF does not undertake to publicly update or revise these forward-looking statements even if experience or future changes make it clear that the projected performance, conditions or events expressed or implied therein will not be realized. These materials do not constitute an offer to sell or the solicitation of any offer to buy any securities of YPF S.A. in any jurisdiction. Securities may not be offered or sold in the United States absent registration with the SEC or an exemption from such registration. Cautionary Note to U.S. Investors - The United States SEC permits oil and gas companies, in their filings with the SEC, to separately disclose proved, probable and possible reserves that a company has determined in accordance with the SEC rules. We may use certain terms in this presentation, such as resources, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 1-12102 available on the SEC website www.sec.gov. Our estimates of EURS, included in our Development Costs, are by their nature more speculative than estimates of proved, probable and possible reserves and accordingly are subject to substantially greater risk of being actually realized, particularly in areas or zones where there has been limited history. Actual locations drilled and quantities that may be ultimately recovered from our concessions will differ substantially. Ultimate recoveries will be dependent upon numerous factors including actual encountered geological conditions and the impact of future oil and gas pricing. Unless otherwise indicated, the calculation of the main financial figures in U.S. dollars is derived from the calculation of the consolidated financial results expressed in Argentine pesos using the average exchange rate for each period. From 1Q 2019 onwards, the calculation of the main financial figures in U.S. dollars is derived from the sum of: (1) YPF S.A. individual financial results expressed in Argentine pesos divided by the average exchange rate of the period and (2) the financial results of YPF S.A.'s subsidiaries expressed in Argentine pesos divided by the exchange rate at the end of period. 2#3AGENDA 01. COMPANY OVERVIEW 02. UPSTREAM 03. DOWNSTREAM 04. LATEST FINANCIAL RESULTS NBORS 3#4→ LARGEST AND LEADING COMPANY IN ARGENTINA +32- 01 YPF is the largest company in Argentina - in terms of revenues - with almost 100-year-old history. 02 Leading integrated player in the local O&G industry. 03 The Argentina Government is the controlling shareholder with a 51% stake. The remaining 49% floats in the NYSE (80%) and BYMA (20%)(1). REVENUES In Million of US$ YPF ■Fuels Natural Gas Exports Other Local 15,291 15,544 | 13,749 13,238 14,226 9,376 (1) As of May 2022. 2017 2018 2019 2020 2021 LTM ADJUSTED EBITDA & MARGIN CAPEX ■ Upstream ■Downstream In Million of US$ In Million of US$ 100% 4,410 4,053 3,607 4,045 90% 3,839 3,496 80% 3,347 3,521 70% 60% 50% I 27% 28% 26% 1,454 29% 28% ■Other Guidance 3,700 I 2,671 I I I 1,554 I 40% 30% 16% 20% 10% 0% ୮ 2017 2018 2019 2020 2021 LTM 2017 2018 2019 2020 2021 2022E 4#5INTEGRATED ACROSS THE ENTIRE VALUE CHAIN DOMESTIC YPF MARKET 99% CRUDE OIL PRODUCTION REFINING 93% EXPORTS DOMESTIC MARKET 80% Domestic prices (gasoline and diesel) 20% International prices (jet fuel, kerosene, fuel oil, LPG and other) 214 1% 272 Kbbl/d Kbbl/d EXPORTS International prices PURCHASES AND CHANGES IN STOCK 7% (naphtha, LPG, jet fuel, kerosene, bunker and other) NATURAL GAS Source: Company filings. All figures as of LTM 1Q22. % calculated based on volumes sold. UPSTREAM 37 Mm³/d EXPORTS 4% 35% RESIDENTIAL + CNG DOMESTIC MARKET 32% INDUSTRIAL ----------------…………. 96% 33% POWER PLANTS 5#6→ PROFITABILITY OF OUR MAIN AFFILIATES PROFERTIL EQUITY STAKE 50% LTM ADJ. EBITDA 1Q22 (US$) (1) 417 mn MEGA YPF LUZ 38% 236 mn 75% YPF OLDELVAL AESA 37% 335 mn 64 mn 100% 51 mn Higher international prices of fertilizers derived in a higher profitability. Execution of the Basic Engineering for expansion project in Bahía Blanca for an additional 900 ton/d 100 MW PV Solar project, already financed with a US$ 66mn green bond recently issued at 5% 25 Kbbl/d of additional transportation capacity through the reactivation of 4 pumping stations More Downstream projects and Higher upstream activity (PIUS and NOC's plants + O&M services) (1) Adjusted EBITDA = EBITDA that excludes IFRS 16 and IAS 29 effects + one-off items.#7DEEPENING THE PATH TO LOW COST AND LOW-CARBON ENERGY PRODUCTION BREAKDOWN OF DIRECT GHG EMISSIONS- BY BUSINESS (1) % (1) Scope 1. 25% 50% 25% ■ Upstream ■Downstream ■G&E Total emissions 2021E: 15.5 million Tn CO2e YPF INTENSITY OF DIRECT GHG EMISSIONS UPSTREAM (1) KgCO₂e/ BOE -13.2% 53 46 2017 24 24 21 ■UPSTREAM ■UP-Unconventionals 41 TARGET 2021E 2022F 19 14.5% Total GHG Intensity direct emissions reduction vs 2017 Target 2022: -6.5% vs 2021 +30 New initiatives in O&G decarbonization 37% Energy purchased from renewable sources (4Q21) 76% higher vs average 2020 YPF LUZ 2nd largest renewable portfolio (397 MW) 175 MW new Wind Farm CODS 100 MW solar under construction Y-TEC Leadership in National H2ar consortium Established YPF Lithium 7#8AGENDA 01. COMPANY OVERVIEW 02. UPSTREAM 03. DOWNSTREAM 04. LATEST FINANCIAL RESULTS $8#9(1) → DOMINANT UPSTREAM POSITION WITH OPERATIONS IN ALL PRODUCTIVE BASINS UPSTREAM PORTFOLIO (1) ANOROESTE PRODUCTION: 4.1 mm boe % LIQUIDS: 12% % GAS: 88% TOTAL PRODUCTION (2) Market share breakdown (%) Other Pampa energía B CUYANA PRODUCTION: 5.1 mm boe % LIQUIDS: 98% % GAS: 2% C NEUQUINA PRODUCTION: 122.2 mm boe % LIQUIDS: 44% % GAS: 55% D GOLFO SAN JORGE PRODUCTION: 32.6 mm boe % LIQUIDS: % GAS: 85% E AUSTRAL PRODUCTION: 7.4 mm boe % LIQUIDS: 21% 15% % GAS: 79% Data as of 2021. B VACA MUERTA CRUDE OIL PRODUCTION (2) Market share breakdown (%) NATURAL GAS PRODUCTION (2) Market share breakdown (%) (2) Source: IAPG, as of LTM 1Q22. wintershall pluspetrol YPF YPF 35% Pan American ENERGY Tecpetrol TOTAL Other YPF 39% SING ARGENTA VISTA DELAGAS Chevron Pan American ENERGY YPF Other 32% Pampa energía wintershall Pan American ENERGY TOTAL Tecpetrol 9#10→ LARGEST O&G PRODUCER WITH SHALE LEADING FUTURE GROWTH TOTAL PRODUCTION YPF ■Crude Oil ■Natural Gas ■NGL 555 530 514 487 467 470 In 2021, we achieved our key goal of stabilizing our total hydrocarbon production after 5 years of continuous decline. 1Q22 continued with a positive trend, bringing to market over 500 Kboe/d on the back of a rapid increase in our shale production which almost doubled vis-à-vis 1Q21, representing now 38% of our total consolidated production. KBOE/D NET SHALE PRODUCTION KBBL/D & KBOE/D 16 14 |+3.6x +5.8x 2017 2018 2019 2020 2021 LTM OPERATED COMPLETED HORIZONTAL WELLS ■Shale Oil Shale Gas # of Wells 68 48 50 50 53 39 35 28 23 59 59 82 UNCONVENTIONAL 91 77 75 +79% 142 138 34 =4 2017 2018 2019 2020 2021 LTM 2017 2018 2019 2020 2021 LTM 10#11WE ARE STILL AT AN EARLY STAGE OF DEVELOPMENT WITHIN OUR VACA MUERTA ACREAGE PBN FM- ChSN PH LDMO CLMI CA ACas LaMa PY- LoAmS SR EOr APO BAñ AdiA BS Type of Blocks: AdCh LACH APE LCa LC Chevron LLL-Sur LR-1 LTAC RDM AV AND LLLO LR-II MBE Chevron Exploration Operated STRATEGIC PARTNERS Pilots Operated Development Operated Exploration, Pilots & PETRONAS Te Dow TotalEnergies equinor YPF ✗TO wintershall ENERGY Development Non Operated Vaca Muerta's Total Acreage and YPF's Share Million Acres ■ VM Acreage ■Gross ■Net 3.0 2.6 LLL-SB LA RN 1.6 1.2 Oil 1.1 0.6 Gas LC(1) LACH(2) BS(3) AdIA(4) RdM (5) EO(6) Gross Acres 97,606 46,594 56,229 27,429 45,037 11,095 Stake 50% 50% 40% 100% 100% (7) 50% LCa Net Acres 48,803 23,297 22,491 27,429 45,037 5,548 Dvlpmt. 44% 16% 7% 8% 7% 44% Resource Oil 10 Oil Oil Gas Gas Gas 7ப Partner Chevron Petronas Equinor/Shell N.A. N.A. Dow 11#12RECORD HIGH RESERVE REPLACEMENT RATIO DRIVEN BY SHALE ADDITIONS EVOLUTION OF HYDROCARBON PROVED RESERVES Million BOE ■Shale 2021 P1 RESERVES BREAKDOWN Other % +24% 929 1,080 19% 1,073 1,143 922 8% 31% 49% 39% Crude Oil Natural Gas NGL 2017 2018 2019 2020 2021 EVOLUTION OF HYDROCARBON PROVED RESERVES Million BOE 217 922 176 1,143 -171 01 -0.1 Reserves 2020 Revisions Extensions Production Purchases, Sales Reserves 2021 and Recovery 02 6 38 56 YPF P1 Reserves increased 24.0% Y/Y with RRR of 2.3x highest in company's last 20 years. Shale P1 increased by 56.7% (+202 Mboe) representing now 49% of total reserves. 03 PD (+24.6%) and PND (+23.4%) reserves increase driven by shale developments and progressive VM de-risking coupled with higher prices. 12 172#13AGENDA 01. COMPANY OVERVIEW 02. UPSTREAM 03. DOWNSTREAM 04. LATEST FINANCIAL RESULTS 113#14→ NATIONWIDE DOWNSTREAM NEWTWORK REFINING YPF Over 50% of Argentina's refining capacity, operating 3 wholly-owned refineries with 328.1 Kbbl/d capacity (2)(3). High level of conversion and complexity. Pipelines (1): Nearly 2,800 Km of crude oil and 1,800 Km of refined products. 1 DOWNSTREAM PORTFOLIO ENSENADA CAPACITY: 1.3MM tons/year 2 PROFERTIL (3) CAPACITY: 2.1MM tons/year A LUJÁN DE CUYO CAPACITY: 114 Kbbl/d B LA PLATA CAPACITY: 189 Kbbl/d PETROCHEMICAL Leading petrochemical producer. Output Capacity: 1.7 (1) million tons per annum (excluding Profertil). Main products: BTX (Benzene, Toluene, Mixed Xylenes), Methanol and Propylene. MARKETING (1) (2) €2 As per 20-F 2021. Excludes 50% stake in Refinor 54% market share (LTM) in term of diesel & gasoline sales volumes in Argentina. 1,654 (1) gas stations in Argentina (34% market share). 102 (1) sale points covering the Agribusiness. (3) Since 1Q21 the capacity of the refineries is 328.1 Kbbl/d. 3 PLAZA HUINCUL CAPACITY: 0.4MM tons/year C PLAZA HUINCUL CAPACITY: 25 Kbbl/d (3) YPF holds a 50% stake. - D REFINOR CAPACITY: 26 Kbbl/d REFINERY PETROCHEMICAL COMPLEX TERMINALS - 17 OIL PIPELINE - 1,165 Km PRODUCTS PIPELINE - 1,785 Km PORTS - 3 AIRPLANE REFUELING FACILITY - 50 14#15→ LEADING PLAYER IN THE LOCAL DOWNSTREAM SEGMENT SALES OF REFINED PRODUCTS KM3 ■Exports Jet Fuel ■Diesel Other Local Gasoline GASOLINE & DIESEL SALES (1) Market share breakdown (%) 17,910 18,032 17,783 17,666 18,030 14,970 (1) As of LTM 1Q22. 2017 2018 2019 2020 2021 LTM Other PUMA YPF AXION energy 55% YPF -Brent Medanito Fuels CRUDE PROCESSED KBBL/D PRICES US$/BBL 97 94 86 83 86 293 284 278 270 272 72 71 234 64 80 71 57 43 65 54 53 54 55 41 2017 2018 2019 2020 2021 LTM 2017 2018 2019 2020 2021 LTM 15#16AGENDA 01. COMPANY OVERVIEW 02. UPSTREAM 03. DOWNSTREAM 04. LATEST FINANCIAL RESULTS 16#17YPF → MAIN HIGHLIGHTS PRODUCTION Adj. EBITDA (1) NET INCOME BOE/D 506k US$ 972mn 1Q 2022 CAPEX FCF (2) US$ 248mn US$ 748mn +5% Q/Q +16% Y/Y +17% Q/Q +27% Y/Y Flat Q/Q n.m. Y/Y -18% Q/Q +53% Y/Y +174% Q/Q +37% Y/Y US$ 391mn NET DEBT US$ 5,912mn (US$359 mn) Q/Q (US$840 mn) Y/Y (1) Adjusted EBITDA = EBITDA that excludes IFRS 16 and IAS 29 effects +/- one-off items. (2) FCF = Cash flow from Operations less capex (investing activities), M&A (investing activities), and interest and leasing payments (financing activities).#18→ 8th CONSECUTIVE QUARTER WITH POSITIVE FREE CASH FLOW CONSOLIDATED STATEMENT OF ADJUSTED CASH FLOW(1) In Millions of US$ CUMULATIVE FREE CASH FLOW In Millions of US$ Quarterly FCF YPF 1,667 1,433 391 1,276 1,134 143 989 144 -785 1,329 1,108 -173 -111 -143 311 678 394 284 211 182 61 150 T T Cash & the end of equivalents at Cash Flow Operating Acquisition of Interest PP&E payments Net borrowing Other (2) Cash & equivalents at the end of 2Q20 3Q20 4Q20 T T T I T 1Q21 2Q21 3Q21 4Q21 1Q22 4Q21 1Q22 72% of consolidated liquidity is either dollarized or hedged (3)(4) (1) Cash and equivalents at the end of 1Q 2022 converted to US$ using March 31,2022 exchange rate of AR$110.91 to US$1.00. Cash and equivalents at the end of 4Q 2021 converted to US$ using the December 31,2021 exchange rate of AR$ 102.62 to US$1.00. Cash & equivalents include Argentine sovereign bonds and Treasury notes. (2) Includes mainly payment of leasing, FX differences and net payments for financial assets. (3) Includes cash position in dollars, Sovereign bonds, and peso- denominated debt. (4) Includes long-term investments in financial assets which mature in less than 24 months.#19→ STRONG LIQUIDITY POSITION WITH NO RELEVANT MATURITIES FOR THE REST OF THE YEAR CONSOLIDATED PRINCIPAL DEBT AMORTIZATION SCHEDULE (1) LIQUIDITY VS NEXT 12 MONTH MATURITIES In Millions of US$ In Millions of US$ 3,156 ■Int. Bonds ■Local Bonds ■Foreign Bank Loans ■Foreign Trade Fin. ■Local Bank Loans & Trade Fin. (1) As of March 31, 2022, converted to US$ using the exchange rate of AR$110.91 to US$1.00. Excludes IFRS 16 effects. 273 1,414 952 1,011 296 9M 2022 2023 2024 2025 2026 2027+ Net leverage ratio down to 1.46x YPF ■Cash & Equiv. ■Next 12M Maturities 1,604 1,515 1,478 1,557 1,329 1,246 1,108 994 696 397 2018 2019 2020 2021 1Q22 1st amortization of 2024 Notes due on April 4th, paid without interference on March 31st US$300 million cross-border A/B loan, led by CAF, fully disbursed Liquidity covering next 24 months maturities#2001 Maintaining focus on profitability in a challenging macroeconomic environment - pump prices to be adjusted in a sustainable way 02 Working to deliver sound production growth through efficient capex deployment 03 Focus on midstream initiatives (gas and oil) to assure debottlenecking of VM evacuation capacity 04 Continuing with fuel's sulphur reduction multiyear project - estimated CAPEX of US$150-200mn in 2022 05 Expecting neutral to slightly negative FCF - max leverage ratio at 2x →2022 OUTLOOK YPF CAPEX (in Bn) US$0.2 →2022 GUIDANCE TOTAL UPSTREAM Uncon. US$1.6 US$3.7 US$2.8 Conven. US$1.2 DOWNSTREAM US$0.7 OTHER OUTPUT BOE +8% CRUDE OIL -224 KBBL/D NATURAL GAS ~37 MM³/D Vs 2021 +6% Vs 2021 +5% SHALE OIL +45% SHALE GAS +40% 20#21YPF TYPF INVESTOR CENTER