Relevant Event – Petrobrás Argentina

Relevant Event – Petrobrás Argentina S.A.

Buenos Aires, March 2, 2016. Pampa Energía S.A. (“Pampa” or the “Company”; NYSE: PAM; Buenos Aires Stock Exchange: PAMP) informs that Petroleo Brasileiro S.A. (“Petrobras”) and the Company have agreed to a 30-day exclusivity period, that could be extended for an additional 30-day period, to continue their advanced negotiations for the acquisition of the 67,2% of the capital and voting stock of Petrobras Argentina S.A. owned by Petrobras Participaciones S.L., a wholly owned subsidiary of Petrobras.

The consummation of this transaction is subject to the successful negotiation of the terms and conditions and relevant definitive documents relating to the transaction, and the approval of such terms, conditions and documents by the pertinent corporate bodies of Petrobrás and the Company.

For further information, contact:

Ricardo Torres – Co-Chief Executive Officer

Gustavo Mariani – Co-Chief Executive Officer

Mariano Batistella – Special Projects Manager and Investor Relations Officer

Lida Wang – Chief of Investor Relations

3302 Ortiz de Ocampo, Building #4
(C1425DSR) Ciudad Autónoma de Buenos Aires, Argentina
Phone: +54 (11) 4809 9500