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Terms and Conditions

This website is owned by PAMPA ENERGÍA S.A. The access to and use of this website are subject to your agreement and compliance, as from such time and without reservations, with the terms and conditions relating to the services and contents of this website (the "Website") as detailed below (the "Terms and Conditions of Use"). By accessing and using this Website, you (the "User") agree forthwith to any and all of the following Terms and Conditions. Consequently, the User must read carefully the Terms and Conditions of Use before accessing any information and/or using any service of this Website. The access to any information and use of any service of this Website are your sole responsibility.

General

PAMPA ENERGÍA S.A. operates and maintains this internet site for purposes of providing information, guidance and assistance to its visitors, free of charge.

Unilateral Changes to this Website

PAMPA ENERGÍA S.A. reserves the right to change or remove the contents, structure, design, services and terms of access to and/or use of this Website at any time and without prior notice.

Prospective Information

This Website contains prospective information on the financial situation, results of operations and businesses of PAMPA ENERGÍA S.A. and any companies controlled by, controlling or under common control with Pampa Energía S.A. (the "Affiliates"). Any information that is not an assertion of historical facts is or might be deemed to be prospective information. Prospective information is any assertion on future expectations based on management‘s current expectations and assumptions, and involves known and unknown risks and uncertainties that might cause results, performance or events to differ significantly from those expressed or implied in such assertions. Prospective information includes, among other things, assertions on the potential exposure of PAMPA ENERGÍA S.A. and its Affiliates to market risks as well as assertions expressing expectations, beliefs, estimates, forecasts, projections and assumptions. Such prospective information is identified by the use of terms and expressions such as "anticipate", "believe", "might", "estimate", "expect", "intend to", "may", "plan", "objectives", "perspectives", "likely", "project", "will seek to", "target", "risks", "goals", "should" and similar terms and expressions.

There are certain factors that might affect the future operations of PAMPA ENERGÍA S.A. and its Affiliates and cause such results to differ significantly from those expressed in the prospective information contained in this Website, including (but not limited to): (a) general inflation rates not reflected in the rate adjustment system of the company; (b) fluctuations in the prices of natural gas and those related to electric power generation; (c) fluctuations in currency value; (d) results of operations; (e) estimated financial reserves; (f) loss of public utility concessions; (g) physical and environmental risks; (h) risks associated with the identification of appropriate assets and objectives for potential acquisitions, and with satisfactory negotiation and execution of such transactions; (i) risks arising from commercial operations made in a developing country subject to international sanctions; (j) legislative, tax and regulatory developments, including litigation and potential regulatory impact from events related to points a, b, c and f; (k) economic and financial conditions of the regional market; (l) political risks, delays or progress in projects, calculations and cost approvals; and (m) changes in the exchange conditions, including expatriation of dividends.

The prospective information contained in this Website is expressly qualified in its entirety by the warnings contained or referred to herein. Readers must not excessively rely on prospective information. Each piece of prospective information only refers to the date of this document.

Neither PAMPA ENERGÍA S.A. nor any of its Affiliates hereby assume any obligation to publicly update or revise any prospective information as a result of new information, future events or otherwise. Taking these risks into account, the results may differ significantly from those stated, implied or inferred from prospective information contained in this Website.

Links to other websites and references to other companies

This Website may include links to other third-party proprietary websites for the sole purpose of providing visitors with expanded information services, and for which PAMPA ENERGÍA S.A. and its Affiliates have no editorial control. Whenever such links are accessed by the User, the external website might be displayed as a full screen (in which case the User shall use the browser back button to return to this Website), or in certain cases it may appear within a frame of this Website (in which case the User may return to this Website by using the internal navigation keys of the frame). The purpose of any external website appearing within a frame of this Website is to ensure ease of navigation to return to this Website and it does not indicate any liability of PAMPA ENERGÍA S.A. and its Affiliates for the related external website, including if it is a proprietary website operated by another company of PAMPA ENERGÍA S.A. and its Affiliates. Such links provide help to quickly and easily find relevant websites, services and/or products that may be of your interest. It is your responsibility to decide whether any of the services and/or products available through any such websites are appropriate for your purposes. PAMPA ENERGÍA S.A. and its Affiliates do not assume any liability for the owners and operators of such websites, the products or services provided by them or the contents of their websites, and do not contemplate any condition, warranty or other terms or representations in relation thereto, nor do they accept any liability arising in connection therewith (including any liability arising from any claim that the contents of an external website with which this Website is linked allegedly infringes intellectual property rights of third parties).

In the event that any part of this Website allows you to participate in any forum, we remind the User that the messages contained in such forums represent the opinions of the individual who posted the relevant message and under no circumstances shall be regarded as opinions from PAMPA ENERGÍA S.A. or its Affiliates.

PAMPA ENERGÍA S.A. and its Affiliates shall not be liable for any messages posted by the users of any forum and the forum shall not be used to send or communicate any information or images that are defamatory, illegal or violate the privacy of third parties.

Contents

The information or suggestions appearing on this Website are of a general nature and must not be used to take any decisions. PAMPA ENERGÍA S.A. and its Affiliates have made their best efforts to ensure that the information contained in this Website is true and accurate at the time it is included. However, PAMPA ENERGÍA S.A. and its Affiliates do not provide any guarantees that the contents are free from any inadvertent errors.

PAMPA ENERGÍA S.A. and its Affiliates do not guarantee that the information, text, graphics, links or contents of all the articles included in this Website are accurate or complete, and they do not undertake to update the information contained in this Website. Any reference in the Website of PAMPA ENERGÍA S.A. to any product, service, process, hypertext link or any other information referring to the trade name and trademark of manufacturers, vendors and third parties in general does not necessarily constitute or imply any endorsement, sponsorship or recommendation whatsoever by PAMPA ENERGÍA S.A. or its Affiliates.

In no event shall the contents of this Website be deemed to be comprehensive, complete or accurate or be used as substitutes for a professional opinion on the matter.

The access to and use of the information contained in this Website are the sole responsibility of the user. The User is responsible for the provision and proper operation of all equipment and software required to access the Internet and the Website, and any use thereof shall be at its own risk. The User must not make any changes to the software or functionality of the Website. Without limiting the foregoing, the User must not incorporate any material to the Website containing programming routines or other devices that might damage, interfere with or block any system, data or information.

Limitation of Liability

PAMPA ENERGÍA S.A. and its Affiliates shall not be liable for any potential consequences or damages derived from the access to this Website or from the use of information or suggestions contained in this Website. PAMPA ENERGÍA S.A. and its Affiliates reserve the right to make changes, at any time and without prior notice, in the information contained in this Website or in its configuration and display. PAMPA ENERGÍA S.A. and its Affiliates do not take any responsibility derived from any damages that may be suffered by the User as a result of, but not limited to, the following:

The access to and use of this Website, including the liability relating to damages caused by any virus, malicious program or program with harmful contents and/or any other agent that might otherwise infect or affect the computer system/s used by the User. Any default by third parties in the performance of their obligations or undertakings in relation to the services provided to users through the Website. Any illegality, lack of quality, truthfulness, usefulness or availability of the services provided by third parties and made available to the users of the Website. Any lack of availability, continuity, access, maintenance and effective operation of the Website and/or its services and/or of updating, accuracy, comprehensiveness, relevance, up-to-date condition and reliability of its contents, for whatever reason, and any difficulties or technical or other problems causing such events. Any receipt, acquisition, storage, dissemination and/or distribution by the Users of the contents of the Website.

The Website includes, among its contents, some links to third-party owned and/or managed websites to facilitate access to information available on the Internet.

PAMPA ENERGÍA S.A. and its Affiliates do not assume any responsibility arising in connection with the existence of links between the contents of this website and external contents or any other reference to this website in external contents. Such links or references are for information purposes only and do not imply any support, endorsement, commercialization or relationship between PAMPA ENERGÍA S.A. and its Affiliates and the persons or entities who author and/or manage such contents or the owners of the websites where they are contained. In this regard, the User undertakes to use the utmost diligence and prudence when gaining access to or using contents or services of the websites accessed by such User from the abovementioned links.

The above listing is presented for illustrative purposes only and shall not be deemed as all-inclusive or exclusive in any of its points. In all cases, PAMPA ENERGÍA S.A. and its Affiliates exclude any liability for damages arising directly or indirectly from such events and from any other similar events that have not been specified therein.

Intellectual property rights

The names and logotypes of PAMPA ENERGÍA S.A. and its Affiliates are registered trademarks of PAMPA ENERGÍA S.A. and its Affiliates. The use of any name or trademark of PAMPA ENERGÍA S.A. and its Affiliates is not authorized unless agreed in writing by PAMPA ENERGÍA S.A. or its Affiliates.

Intellectual property rights and any other rights to the materials contained in this Website are owned by PAMPA ENERGÍA S.A. and its Affiliates and are governed by Argentine regulations in force at the time they are included in this Website. Visitors may use copies of the documents and information contained in this Website for private and personal purposes only. The User shall not be authorized to reproduce, disseminate, distribute or publish the contents through any means or support media without the prior agreement of Pampa Energía S.A. Any reproduction or use of copies for other purposes or without the agreement of Pampa Energía S.A. is expressly forbidden.

Contact with our Webmaster

If you have any comments, questions or suggestions on any technical aspect of this Website, or wish to communicate potential failures or errors in this Website, please send an e-mail to: investor@pampaenergia.com.

Governing Law and Jurisdiction

These Terms and Conditions of Use shall be governed by the laws and subject to the jurisdiction of the courts of the Republic of Argentina. Any dispute between PAMPA ENERGÍA S.A. and its Affiliates in relation to the Website shall be submitted to the competent National Ordinary Courts of the Federal Capital, expressly waiving any other venue or jurisdiction that might be applicable.

Non-existence of License

By reason of the use of this Website, no express or implied license or authorization is given to the User by virtue of any patent or commercial secret rights owned or controlled by or under the possession of PAMPA ENERGÍA S.A. and its Affiliates, either currently or in the future.

Use of this Website. Exclusion of warranties

The User undertakes to use this Website and its services and contents without violating the applicable laws, the principles of good faith and public order. Consequently, any use for illegal purposes or for purposes that may harm or impair, or otherwise damage and/or overload the use and normal operation of this Website, or that directly or indirectly pose a threat to this Website or to any right of third parties, is forbidden.


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Last Update on March 11, 2015

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