Ownership Breakdown

Pampa Energía‘s issued stock capital consists of 1,899,870,264 common shares of one peso of nominal value and one vote per share (1 ADR equivalent to 25 ordinary shares). However, the General Extraordinary Shareholders’ Meeting that took place on October 1, 2019, approved a capital reduction by cancelling 151,997,025 treasury shares/6,079,881 ADRs acquired under the share buyback programs, in process of registration before the Argentine Public Registry of Organizations. Therefore, excluding treasury shares in process of cancellation, the capital stock of Pampa Energía amounts to 1,747,873,239 common shares, and as of February 21, 2020, the outstanding capital net of repurchases amounted to 1,647,769,214 common shares.

The ownership of Pampa‘s shares is the following:

Holder Number of Shares,
in Million
Number of ADRs,
in Million
Share of Issued Capital,
in %
Share of Capital, Net of Repurchases,
in %
Management1 389.0 15.6 22.3% 23.6%
Free Float2
1,253.8 50.2 71.7% 76.1%
Share buyback program3,4
100.1 4.0 5.7%
Employee stock-based compensation plan
5.0 0.2 0.3% 0.3%
Total Issued Capital4 1,747.9 69.9 100% 100%
Total Outstanding Capital5 1,647.8 65.9

Note: All figures have been subject to rounding, so figures shown as totals may not sum. 1 The management holdings based on public information as of December 9, 2019, includes direct and indirect stakes of Messrs. Marcos Marcelo Mindlin, Damián Miguel Mindlin, Gustavo Mariani and Ricardo Alejandro Torres. 2 Listed in NYSE and BYMA. 3 Updated as of February 21, 2020. 4 It does not include 151,997,025 treasury shares/6,079,881 ADRs, in process of cancellation. 5 Net of shares acquired under the share buyback programs.