BUENOS AIRES, Argentina, Nov. 2, 2026 /PRNewswire/ -- Pampa EnergÃa S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP), an independent energy company with active participation in Argentine oil, gas and electricity, announces the results for the nine-month period and quarter ended on September 30, 2026.

Pampa reports its financial information in US$, its functional currency. For local currency equivalents, transactional exchange rate ('FX') is applied. However, Transener and Transportadora de Gas del Sur's ('TGS') figures are adjusted for inflation as of September 30, 2026, and converted to US$ using the period-end FX. Previously reported figures remained unchanged.

Third quarter 2026 ('Q3 26') main results1

Sales reached US$790 million in Q3 262, up 34% year-on-year, mainly driven by the normalization of the Wholesale Electricity Market's ('WEM'), which supported higher spot energy prices and B2B ('Business to Business') sales, increased gas sales to our CCGTs ('Combined Cycles'), growing crude oil sales and stronger Reformer prices. These effects were partially offset by lower gas deliveries under Plan Gas GSA ('Gas Sale Agreement') and to industrial customers, as well as the impact of crude oil hedges

Thermal power generation margins stood out during Q3 26, supported by their efficiency and vertical integration with our gas upstream business.

Note: * Realized price, net of hedge, export duty and quality/logistic discounts.

Adjusted EBITDA totaled US$398 million, up 23% year-on-year, reflecting higher thermal generation margins in the spot and B2B markets, together with the benefits of vertical integration between gas production and thermal power generation, offset by the impact on crude oil hedges.

Net income attributable to shareholders reached US$129 million, 6 times Q3 25, mainly driven by lower deferred income tax expense and improved operating margins, partially offset by lower FX gains.

Net debt stood at US$1.731 billion as of September 2026, vs. US$1.319 billion as of June 2026, reflecting higher capital expenditures, mainly at FEPASA ('Fértil Pampa S.A.U.'), equity contributions to affiliates under development, prepayments related to the GPM expansion, and collateral posted for crude oil hedging, partially offset by operating cash flow generation and dividends received from Transener.

Consolidated balance sheet

(As of September 30, 2026 and December 31, 2025, in US$ million) 

Consolidated income statement

(For the nine-month periods and quarters ended on September 30, 2026 and 2025, in US$ million)

Consolidated cash flow statement 

(For the nine-month periods and quarters ended on September 30, 2026 and 2025, in millions)

For the full version of the Earnings Report, please visit Pampa's Investor Relations website: ri.pampa.com/en.

Information about the videoconference

There will be a videoconference to discuss Pampa's Q3 26 results on Tuesday, November 3, 2026, at 10:00 a.m. Eastern Standard Time/12:00 p.m. Buenos Aires Time. The hosts will be Gustavo Mariani, CEO, Horacio Turri, EVP and head of oil and gas, Adolfo Zuberbühler, CFO and Lida Wang, IR & ESG Officer at Pampa.

For those interested in participating, please register here.

For further information about Pampa:

1 The information is based on financial statements ('FS') prepared according to International Financial Reporting Standards ('IFRS') in force in Argentina.

2 Sales from the affiliates CTBSA, Transener and TGS are excluded, shown as 'Results for participation in joint businesses and associates.'

SOURCE Pampa Energia S.A.

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