Agreement relating to the debt restructuring of CIESA and the partial cancellation of the indebtedness

Pampa Energía announces agreement relating to the debt restructuring of Compañía de Inversiones en Energía S.A. (“CIESA”) and the partial cancellation of the indebtedness incurred at the time of the acquisition of such assets

Buenos Aires, July 13, 2012. Pampa Energía S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP) announces today that CIESA, Pampa Energía S.A., Pampa Inversiones S.A., EPCA S.A. and Inversiones Argentina I LLC (collectively referred to as “PAMPA”), Petrobras Hispano Argentina S.A. and Petrobras Argentina S.A. (collectively referred to as “PESA”) have reached an agreement by means of which they have withdrawn all of the respective claims between PESA and AEI (and PAMPA as assignee of a portion of such claims) in connection with the litigation entitled “Compañía de Inversiones de Energía S.A. v. AEI f/k/a Ashmore Energy International f/k/a Prisma Energy International Inc., AEI v. Compañía de Inversiones de Energía S.A., Petrobras Hispano Argentina S.A., Petrobras Energía S.A., Héctor Daniel Casal, Claudio Fontes Nunes and Rigoberto Mejía Aravena” in the Courts of the State of New York, including the respective claims of damages and losses that had been filed in the year 2009 (the “Settlement Agreement”).

Within the context of such Settlement Agreement and as a material condition thereto, the abovementioned parties cancelled in its entirety CIESA´s unpaid debt due since 2002 (the “CIESA Due Debt”). As consideration for such cancellation, PAMPA received from CIESA

Simultaneously, PAMPA had to cancel, with the previously mentioned funds, US$70 million of the US$90 million loan granted by Citibank N.A. and Standard Bank to finance the acquisition of the abovementioned assets.

For further information, contact:

Ricardo Torres – Chief Executive Officer
Mariano Batistella – Special Projects Manager and Investor Relations Officer
3302 Ortiz de Ocampo, Building #4
(C1425DSR) Ciudad Autónoma de Buenos Aires, Argentina
Phone: +54 (11) 4809 9500