Vaca Muerta Strategic Investment

Vaca Muerta Shale Oil Opportunity (2/2) Activity significantly mitigates risk of Bajada del Palo West Unconventional Operations Map in Shale Oil Window Tecpetrol Statoil Pan American ENERGY TOTAL Exon 45 A Loma Campana op B Sierras Blancas/ Cruz de Lorena E Bajada de Palo ■ 18 wells drilled (2) West wintershall ☐ GyP YRF ◉ SB-1005 one of the top producing wells in the basin, with IP of 1kbbl/d + 600 MMscfd(2) Current production: 5kboe/d(2) PETRONA C * VISTA OIL & GAS YPFO Schlumberger C La Amarga Chica YPF PETRONAS B ■ Second unconventional oil pilot in Argentina 50 50 Chevron VISTAOL & GAS Coirón Amargo B Prospective Area Sur Oeste Chevron YPF ■ First unconventional oil pilot completed in Argentina ■ In full development mode ~400 wells drilled of which ~240 horizontal with up to 7,380ft (2,250m) lateral length(1) Current production: 45kboe/d(2) (1) Based on Loma Campana information from YPF's 3Q17 investor presentation. (2) Based on Ministerio de Energía y Minería (Presidencia de la Nación). (3) Based on YPF February 1, 2018 relevant fact filed in the CNV. (4) Based on YPF October 11, 2017 relevant fact filed in the CNV. ☐ Commencing third pilot phase in 2018(2) Current production: 5kboe/d(2) D Bandurria Sur ◉ Schlumberger YPF Recent JV signed in 2017 with ~$390 MM committed (3) Pilot Phase: two-stage (4) • Five wells drilled (3 horizontals)(2) E Aguada Federal ■ wintershall GyP Two vertical exploration wells Several horizontal wells drilled (2) 9

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