YPF

Business Context and Reporting Period

This Form 6-K filing by YPF Sociedad Anónima (YPF), dated April 17, 2026, discloses a strategic corporate reorganization. The filing includes English translations of a Prospectus and a Preliminary Merger Agreement submitted to the Argentine Securities Commission (CNV). The transaction involves a merger by absorption where YPF (the Absorbing Company) will absorb two wholly-owned subsidiaries: YPF Ventures S.A.U. and Oleoducto Loma Campana Lago Pellegrini S.A.U. (OLCLP). The merger is retroactive to January 1, 2026, for accounting and tax purposes.

Key Financial Metrics

The filing provides a Consolidated Merger Balance Sheet as of December 31, 2025, prepared in accordance with IFRS. The document does not provide income statement data (revenue, profit, cash flow) or liquidity ratios for the period.

Note: The filing text does not provide clear values for revenue, net profit, operating margins, or free cash flow.

Material Changes and Transaction Details

• Ownership Structure: YPF currently owns 100% of the outstanding shares of both YPF Ventures and OLCLP. Consequently, the merger will not result in the issuance of new YPF shares, and no exchange ratio is established.
• Capital Stock: YPF's capital stock will not be modified, and no amendment to YPF's corporate bylaws is required as the current corporate purpose encompasses the activities of the absorbed entities.
• Dissolution: Upon registration, YPF Ventures and OLCLP will be dissolved without liquidation. Their assets and liabilities will be transferred to YPF at the values recorded in the Special-Purpose Merger Financial Statements as of December 31, 2025.
• Management: Following the definitive merger agreement, the management and representation of the absorbed companies will be performed by YPF's Board of Directors and President.

Outlook, Risks, and Contingencies

Purpose of Merger: Management cites the need to improve administrative efficiency, reduce operating costs, generate tax savings, and simplify the corporate structure by centralizing business management.

Approvals and Timeline:

• The Preliminary Merger Agreement was approved by the Boards of Directors on March 13, 2026.
• Extraordinary General Shareholders' Meetings for all three entities are scheduled for April 30, 2026.
• The transaction is contingent upon shareholder approval, administrative approval by the CNV, and registration with the Inspection Board of Legal Entities (IGJ).

Risks and Contingencies:

• Creditor Objections: Creditors have a 15-day window to object to the merger following the publication of the notice. Objecting creditors may seek a warrant of attachment if not paid or secured.
• Regulatory Approval: The merger is not effective until registered with the IGJ. Pending registration procedures include a director replacement at YPF and a title report from the Real Estate Registry of the Province of Río Negro for OLCLP.
• Shareholder Approval: If the Extraordinary Shareholders' Meeting of any party fails to approve the merger, the Preliminary Merger Agreement becomes null and void.

Investor Verification Checklist

• Shareholder Approval: Verify the outcome of the Extraordinary General Shareholders' Meetings scheduled for April 30, 2026.
• Regulatory Registration: Confirm the final registration of the Definitive Merger Agreement with the IGJ and approval by the CNV.
• Creditor Status: Monitor for any creditor objections filed during the statutory notice period and their resolution.
• Real Estate Title: Confirm receipt and content of the pending title report from the Real Estate Registry of the Province of Río Negro regarding OLCLP assets.
• Financial Impact: Review the full Special-Purpose Merger Financial Statements (Exhibit B) to assess the specific valuation of assets and liabilities being transferred, as the summary balance sheet does not detail revenue or profitability.