TCA Tanoira Cassagne advises on issuance of YPF’s Class XXI Notes

Tanoira Cassagne advised Banco de Galicia y Buenos Aires S.A.U., Banco Santander Argentina S.A., Balanz Capital Valores S.A.U., Macro Securities S.A.U., Banco de la Provincia de Buenos Aires, Banco de la Nación Argentina, Banco Comafi S.A., Allaria S.A., Banco BBVA Argentina S.A., SBS Trading S.A., TPCG Valores S.A.U., Banco Patagonia S.A., Petrini Valores S.A., Mills Capital Markets S.A., Banco Supervielle S.A., Invertironline S.A.U. and PP Inversiones S.A.; and Bruchou & Funes de Rioja advised YPF Energía Eléctrica S.A. ("YPF Luz") and TCA as arrangers and placement agents (the "Arrangers and Placement Agents"), in the successful placement of the Class XXI Notes for a par value of US$53. 827,026, denominated and payable in U.S. dollars, at a fixed rate of 6.50%, maturing on May 20, 2027 (the "Notes").

The Notes were listed on A3 Mercados S.A. ("A3 Mercados") and Bolsas y Mercados Argentinos S.A. ("BYMA"), and were rated by FIX SCR S.A. Risk Rating Agent as AAA(Arg) stable outlook.

YPF Luz is one of the main electric power generation companies in Argentina. It is mainly engaged in the production, commercialization and development of electric power generation projects from renewable (wind and solar) and thermal (gas-based) sources.

Counsel to YPF Luz

Bruchou & Funes de Rioja: Partners José María Bazán and Leandro Belusci, and associates Malena Tarrío, Lucia De Luca and Francisco Mendioroz.

In-house legal counsel to YPF Energía Eléctrica S.A.: Carlos Ariosa and José María Krasñansky.

Legal counsel to the Arrangers and Underwriters:

TCA Tanoira Cassagne: Partners Alexia Rosenthal and Ignacio Criado Díaz and associates Carolina Mercero and Stefania Lo Valvo. Legal counsel to YPF Luz

Bruchou & Funes de Rioja: Partners José María Bazán and Leandro Belusci, and associates Malena Tarrío, Lucia De Luca and Francisco Mendioroz.

In-house Legal advisors of YPF Energía Eléctrica S.A.: Carlos Ariosa and José María Krasñansky.

Legal counsel to the Arrangers and Placement Agents

TCA Tanoira Cassagne: Partners Alexia Rosenthal and Ignacio Criado Díaz and associates Carolina Mercero and Stefania Lo Valvo.

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