Recommendation IX: Fostering the inclusion of good corporate governance practices in the Bylaws
Compliance: Total

Inform or Explain: The Board of Directors approves the Code Report, which is drafted in accordance with the applicable CNV rules on an annual basis. However, Pampa’s Board of Directors believes that at present the provisions of the Code should not necessarily be reflected in whole in the Bylaws. Given that the Bylaws, as well as the Report, are publicly available information through the CNV web page, Pampa fully complies with the capital market transparency principle.