Pampa Energy Inc. is a limited liability company based in Argentina, established on February 20, 1945. The company operates within a highly regulated electricity sector, where its hydroelectric operations, including transmission and distribution activities, are authorized by the Argentine government and adhere to specific concession terms. Additionally, Pampa's oil and gas operations function in a strictly regulated environment, with its upstream activities complying with the terms of concession agreements established with provincial governments and joint venture partners. As the largest fully integrated power company in Argentina, Pampa Energy plays a significant role in the country's energy landscape.