YPF (NYSE: YPF) expands Vaca Muerta interests in US$163.2M Vista Energy deal

Rhea-AI Filing Summary

YPF Sociedad Anónima has entered agreements with Vista Energy S.A.B. de C.V. to expand its interests in Argentina’s Vaca Muerta shale. YPF will pay an aggregate US$163,175,000, plus a closing adjustment and contingent price, to acquire 16.3% of Equinor Argentina S.A.U. and a 15% working interest in the Bajo del Toro and Bajo del Toro Norte blocks.

Upon closing, YPF’s working interest will increase to 44.9% in the Bandurria Sur block and 65% in the Bajo del Toro and Bajo del Toro Norte blocks. Bandurria Sur covers 56.2 thousand acres and produced 84.9 thousand barrels of oil equivalent per day on a 100% basis in 3Q25, while Bajo del Toro Norte covers 28.1 thousand acres and produced 3.6 thousand barrels of oil equivalent per day.

Insights

Energy sector M&A analyst

YPF is increasing stakes in key Vaca Muerta shale blocks through a US$163.2M deal with Vista Energy.

YPF is set to acquire 16.3% of Equinor Argentina S.A.U. and a 15% working interest in the Bajo del Toro and Bajo del Toro Norte blocks from Vista Energy for an aggregate US$163,175,000, plus a closing adjustment and contingent price. This will raise its working interest to 44.9% in Bandurria Sur and 65% in Bajo del Toro and Bajo del Toro Norte.

The assets are tied to Argentina’s Vaca Muerta formation, with Bandurria Sur producing 84.9 thousand barrels of oil equivalent per day (79% shale oil) on a 100% basis in 3Q25, and Bajo del Toro Norte producing 3.6 thousand barrels of oil equivalent per day (100% shale oil). These volumes illustrate that the acquired interests relate to already productive unconventional concessions with long-term 35-year terms where applicable.

The overall effect will depend on final closing under the stated conditions precedent, integration of the additional stakes into YPF’s broader portfolio, and future operating performance of the Bandurria Sur, Bajo del Toro and Bajo del Toro Norte blocks as disclosed in subsequent company reports.

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 February 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 February 2, 2026.

Buenos Aires, February 2, 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.: Vista Energy Agreements - Bandurria Sur, Bajo del Toro and Bajo del Toro Norte.

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.

To that end, we report that, on February 1, 2026, YPF entered into a share purchase agreement (hereinafter, the “Agreement”) with Vista Energy, S.A.B. de C.V., whereby, subject to the fulfilment of the conditions precedent set forth therein, YPF will acquire 16.3% of the shares and share capital of Equinor Argentina S.A.U. (or under such other name as it may hereafter adopt). Equinor Argentina S.A.U. owns 30% of the Bandurria Sur block.

Additionally, on the same date, YPF entered into an asset purchase agreement to acquire from Vista Energy S.A.B. de C.V. a 15% working interest in the “Bajo del Toro” and “Bajo del Toro Norte” blocks.

The aggregate price for both transactions amounts to US$163,175,000, plus a closing price adjustment and a contingent price.

If all the conditions precedent to closing are met, YPF will acquire: (i) indirectly, through the aforementioned 16.3% of the shares of Equinor Argentina S.A.U., a 4.9% working interest in the “Bandurria Sur” block, which, added to its current direct interest, will total 44.9% in that block; and (ii) a 15% working interest in the “Bajo del Toro” and “Bajo del Toro Norte” blocks, which, added to its current stake, will total 65% in those blocks.

We report that, immediately prior to the transactions described above, Vista Energy acquired from Equinor 100% of the shares and share capital of Equinor Argentina S.A.U., and a 50% working interest in the “Bajo del Toro” and “Bajo del Toro Norte” blocks.

Below are the most relevant operating data of the blocks that form part of the agreement:

On the one hand, Bandurria Sur is an unconventional hydrocarbon exploitation concession (“CENCH”) awarded in 2015 for a 35-year term and is operated by YPF. It covers 56.2 thousand acres of the Vaca Muerta formation and, during the third quarter of 2025 (“3Q25”), on a 100% basis, produced 84.9 thousand barrels of oil equivalent per day (79% shale oil).

On the other hand, Bajo del Toro Norte is also a CENCH awarded in 2021 for a 35-year term and operated by YPF. It covers 28.1 thousand acres and reached, in 3Q25, on a 100% basis, production of 3.6 thousand barrels of oil equivalent per day (100% shale oil); while Bajo del Toro corresponds to an unconventional hydrocarbon exploration permit with an area of 10.6 thousand acres.

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: February 2, 2026				By:		/s/ Margarita Chun
				Name:		Margarita Chun
				Title:		Market Relations Officer

FAQ

What transaction did YPF (YPF) announce with Vista Energy in February 2026?

YPF agreed to acquire additional interests in Bandurria Sur, Bajo del Toro and Bajo del Toro Norte from Vista Energy. The deal includes a 16.3% stake in Equinor Argentina S.A.U. and a 15% working interest in two blocks for US$163,175,000 plus adjustments and contingent price.

How much is YPF (YPF) paying Vista Energy for the new Vaca Muerta interests?

YPF will pay an aggregate price of US$163,175,000 to Vista Energy. The consideration also includes a closing price adjustment and a contingent price, reflecting post-signing variables tied to the assets being acquired in Bandurria Sur, Bajo del Toro and Bajo del Toro Norte.

How will YPF’s working interest in Bandurria Sur change after this transaction?

Through acquiring 16.3% of Equinor Argentina S.A.U., YPF will indirectly obtain a 4.9% working interest in Bandurria Sur. Combined with its existing holding, YPF’s total working interest in this unconventional hydrocarbon block will increase to 44.9% after the transaction closes.

What interest will YPF (YPF) hold in Bajo del Toro and Bajo del Toro Norte after the deal?

YPF is purchasing a 15% working interest in the Bajo del Toro and Bajo del Toro Norte blocks from Vista Energy. Once the deal closes and interests are combined with its current stake, YPF’s working interest in these blocks will total 65%.

What are the production levels of the Bandurria Sur block mentioned by YPF (YPF)?

Bandurria Sur produced 84.9 thousand barrels of oil equivalent per day on a 100% basis in 3Q25. According to YPF, 79% of this production was shale oil, highlighting the block’s role as a significant unconventional hydrocarbon asset in the Vaca Muerta formation.

What production did Bajo del Toro Norte report in 3Q25 according to YPF (YPF)?

Bajo del Toro Norte produced 3.6 thousand barrels of oil equivalent per day on a 100% basis in 3Q25. YPF notes that this output was 100% shale oil, reinforcing the block’s unconventional nature within Argentina’s Vaca Muerta hydrocarbon basin.

What are the concession terms and acreage for YPF’s Bandurria Sur and Bajo del Toro Norte blocks?

Bandurria Sur is an unconventional hydrocarbon exploitation concession awarded in 2015 for a 35-year term, covering 56.2 thousand acres. Bajo del Toro Norte is also a 35-year unconventional exploitation concession, awarded in 2021, covering 28.1 thousand acres and operated by YPF.