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Corporate Governance
Corporate Governance Policies

Business Conduct Code - Ethics Hotline

Pampa has a Code of Business Conduct in place that not only lays down the ethical principles that constitute the foundation of the relationships between Pampa, its employees and suppliers, but also offers the means and instruments that ensure transparency in the handling of matters and issues that may affect Pampa’s adequate management.

As part of the various corporate governance policies adopted in the course of 2010, Pampa’s Management Committee has approved the implementation of the Ethics Hotline as an exclusive channel to report, in the strict confidentiality, any suspected misconduct or breach of the Code of Business Conduct.

Code of Best Practices in Securities Trading

This Policy has been implemented in order to avoid ‘insider trading’ practices by Pampa’s employees who, by reason of their duties and/or positions, may have access to material non-public information and use it either directly or indirectly to trade securities, thus gaining an unfair advantage for themselves or for others.

This Policy applies to Pampa’s staff and its subsidiaries, including directors, members of the Supervisory Committee and senior management lines.

Policies concerning Transactions with Related Parties

Pursuant to the CMA, all high-value transactions made between Pampa and individuals and/or legal entities which, pursuant to the applicable regulations in force, are considered ‘related parties’ will be subject to a specific prior authorization and control procedure to be carried out under the supervision of Pampa’s Legal and Compliance Department and involving both Pampa’s Board of Directors and its Audit Committee (as applicable).

Self-Assessment Questionnaire for the Board of Directors

In line with the Code’s recommendations, in 2008 Pampa’s Board of Directors passed the implementation of a self-assessment questionnaire to annually examine and assess its own performance and management.

The Company’s Legal & Compliance Department is in charge of examining and filing each individual questionnaire; afterwards, based on the results, it will submit to Pampa’s Board of Directors all the proposed measures deemed useful to improve the performance of the Board of Directors’ duties.

Relevant Information Disclosure Policy

In the year 2009, Pampa’s Management Committee approved the Relevant Information Disclosure Policy in order to regulate the basic principles that guide the operation of the processes to be followed when publishing information relevant to Pampa in accordance with the regulatory requirements imposed by the securities markets where Pampa’s securities are traded or those in which Pampa is a registered issuer.

Previous Approval of External Auditors’ Services Policy

In the year 2009, Pampa’s Management Committee passed the Policy on Preliminary Approval for External Auditors’ Services, which standardizes an internal process for the Audit Committee to comply with its obligation to grant its prior approval to the hiring of External Auditors for the provision of any kind of authorized service to Pampa or any of its subsidiaries.

Fraudulent Practices Prevention Program

In the year 2010, in accordance with the provisions of the U.S. Foreign Corrupt Act and in addition to the Code of Business Conduct, Pampa adopted the Fraudulent Practices Prevention Program, which sets out the responsibilities, duties and methodology necessary to prevent and detect any misconduct and/or fraudulent behavior within Pampa and/or any Pampa Group company.

Anti-Money Laundering and Terrorist Financing Policy

In its capacity as agent of Mercado a Término de Rosario S.A., in the year 2011, Pampa became bound by Section 20, subsections 4 and 5, of Act No. 25,246 on Concealment and Laundering of Assets, its regulations and related provisions, and by Financial Intelligence Unit’s Resolution No. 33/11. Consequently, Pampa became a covered party and, in compliance with the regulations in force, its Board of Directors passed the Anti-Money Laundering and Terrorist Financing Prevention Policy, thus establishing the procedures for institutionally combating asset laundering and terrorist financing.


Last Update on March 11, 2015

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