Investor Presentaiton

YPF Transaction Value Asset Value (in millions of USD) Acquisition cost VM divestiture (1) Asset value Asset value ex-Vaca Muerta (2) Value Metrics Value/P1 (USD/Boe) Value / EBITDA (3) 800 -217 583 425 Assets value Asset value ex-Vaca Muerta 4.3 3.1 2.5x 1.8x 12,500 9,100 Value / Production (USD/Boe) (1) Includes 53,000 acres originally from YPF. (2) Net producing assets value estimated with subtracting an extrapolation of the conditions of Pluspetrol divestiture to Vaca Muerta acreage acquired in the transaction net to YPF. (3) Full year 2012 EBITDA converted at 2012 average FX of 4.55 ARS/USD. 10

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