YPF (YPF) trades VMI stake for 100% ownership of three Neuque9n blocks

Rhea-AI Filing Summary

YPF Sociedad Anónima has entered into an asset exchange agreement with Pluspetrol S.A., swapping 44.44% of the shares of Vaca Muerta Inversiones S.A.U. (VMI) held by YPF for Pluspetrol’s 50% stakes in the “Las Tacanas,” “Meseta Buena Esperanza,” and “Aguada Villanueva” areas in the Province of Neuquén. As a result of this deal, YPF will own 100% of these three oil and gas areas.

VMI, currently wholly owned by YPF, holds a 45% interest in the joint operation and joint venture for the La Escalonada and Rincón La Ceniza blocks in Neuquén, so YPF is effectively trading part of its ownership in that vehicle for full control of specific producing or exploratory areas. The closing of the transaction is subject to customary conditions precedent, and the exchange is described as not generating expenditure or income for either YPF or Pluspetrol, apart from minor price adjustments that may apply at closing once all conditions are satisfied.

Insights

Energy sector M&A analyst

YPF swaps a VMI stake for full control of three Neuquén areas in a largely cash‑neutral deal.

The agreement exchanges YPF’s 44.44% stake in Vaca Muerta Inversiones S.A.U. for Pluspetrol’s 50% interests in the Las Tacanas, Meseta Buena Esperanza, and Aguada Villanueva areas in Neuquén. This shifts YPF from partial ownership in a holding company that owns 45% of La Escalonada and Rincón La Ceniza into 100% ownership of three specific areas, consolidating operational control there.

The companies state that the transaction does not create expenditure or income for either party, aside from minor price adjustments at closing, so it is structured primarily as a non‑cash asset swap. Completion depends on customary conditions precedent, so timing and any closing adjustments will become clear only after those conditions are met and closing occurs.

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13A-16 OR 15D-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of January 2026

Commission File Number: 001-12102

YPF Sociedad Anónima

(Exact name of registrant as specified in its charter)

Macacha Güemes 515

C1106BKK Buenos Aires, Argentina

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒   Form 40-F ☐

YPF Sociedad Anónima

TABLE OF CONTENT

ITEM 1 Translation of letter to the Argentine Securities Commission (Comisión Nacional de Valores) dated January 22, 2026.

Buenos Aires, January 22, 2026

COMISIÓN NACIONAL DE VALORES (“CNV”)

25 de Mayo 175

Buenos Aires

BOLSAS Y MERCADOS ARGENTINOS S.A. (“ByMA”)

Sarmiento 299

Buenos Aires

A3 MERCADOS S.A. (“A3 Mercados”)

Maipú 1210

Buenos Aires

Ref.: Material Event – Asset Exchange between YPF S.A. and Pluspetrol S.A.

Ladies and Gentlemen,

We are writing to you in order to comply with the CNV Rules and the corresponding regulations of ByMA and A3 Mercados.

We hereby report that on January 22, 2026, YPF S.A. and Pluspetrol S.A. entered into an agreement to exchange 44.44% of the shares of Vaca Muerta Inversiones S.A.U. (“VMI”) owned by YPF, for Pluspetrol S.A.’s 50% stake in the “Las Tacanas,” “Meseta Buena Esperanza” and “Aguada Villanueva” areas, located in the Province of Neuquén. As a result, YPF will become the owner of 100% of the aforementioned areas.

As of this date, VMI is a company wholly owned by YPF and holds a 45% stake in the Joint Operation Agreement and Joint Venture (unión transitoria) for the La Escalonada and Rincón La Ceniza blocks in the Province of Neuquén.

The closing of the transaction is subject to the fulfillment of the conditions precedent customary for this type of transaction.

This transaction does not result in any expenditure or income for YPF or Pluspetrol, other than any minor price adjustments that may be applicable at the time of closing and once the conditions precedent have been met.

Sincerely,

Margarita Chun

Market Relations Officer

YPF S.A.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

				YPF Sociedad Anónima
Date: January 22, 2026				By:		/s/ Margarita Chun
				Name:		Margarita Chun
				Title:		Market Relations Officer

FAQ

What asset exchange did YPF (YPF) announce with Pluspetrol?

YPF reported an agreement with Pluspetrol S.A. to exchange 44.44% of the shares of Vaca Muerta Inversiones S.A.U. (VMI) owned by YPF for Pluspetrol’s 50% stakes in the Las Tacanas, Meseta Buena Esperanza, and Aguada Villanueva areas in the Province of Neuquén.

How does this transaction change YPFs ownership in the Neuqun areas?

Following the exchange, YPF will become the owner of 100% of the Las Tacanas, Meseta Buena Esperanza, and Aguada Villanueva areas in Neuquén, giving it full control over those assets.

What is Vaca Muerta Inversiones S.A.U. (VMI) and what stake does it hold?

As of the date of the report, VMI is wholly owned by YPF and holds a 45% stake in the joint operation agreement and joint venture for the La Escalonada and Rincn La Ceniza blocks in the Province of Neuquén.

Does the YPF-Pluspetrol asset exchange involve cash outlays or income?

The transaction is described as not resulting in any expenditure or income for YPF or Pluspetrol, other than minor price adjustments that may apply at closing once the conditions precedent have been met.

What conditions must be met before the YPF and Pluspetrol transaction closes?

The closing of the transaction is subject to the fulfillment of conditions precedent customary for this type of transaction, which must be satisfied before the asset exchange is completed.

Why did YPF file a Form 6-K related to this asset exchange?

YPF filed the report to comply with requirements of the Comisif3n Nacional de Valores and stock market regulations, and to inform investors about the material event involving the asset exchange with Pluspetrol.