YPF (YPF) files Form SD referencing FY2024 payments to governments

Rhea-AI Filing Summary

YPF Sociedad Anónima filed a Form SD disclosing that its resource extraction payments report for the fiscal year ended December 31, 2024 is included as Exhibit 2.01 to the filing. The Form states the conflict minerals disclosure is not applicable and clarifies that all payments are reported in U.S. dollars, with non‑USD payments converted using the applicable exchange rate on or about the date of payment. The filing notes payments to governments are presented on a consolidated basis and excludes payments made by subsidiaries to YPF S.A. The document also describes YPFs business segments—Upstream, Downstream, Gas and Power and Central Administration and Others—and explains operations are organized into blocks defined by concession or operating contracts. The Form SD is signed by the Chief Financial Officer on August 12, 2025.

Positive

• Conflict minerals disclosure is stated as not applicable, simplifying compliance scope for this filing
• Resource extraction payments report is prepared and filed as Exhibit 2.01, indicating the company has compiled the required disclosure
• Payments are presented in U.S. dollars with a stated conversion approach, supporting consistent comparability
• Clear description of business segments (Upstream, Downstream, Gas and Power, Central Administration) aids understanding of operations

Negative

• Payment amounts and breakdowns are not included in the provided text; the filing references Exhibit 2.01 for the payment disclosure
• The provided content excludes any subsidiary-to-YPF S.A. payments, which limits visibility into intra-group cash flows

Insights

Financial Analyst

TL;DR: Routine Form SD filing confirms a consolidated FY2024 payments report exists but does not include payment figures within this text.

The filing demonstrates compliance with the resource extraction payment disclosure requirement by referencing Exhibit 2.01, clarifies currency presentation in U.S. dollars, and excludes intra‑group subsidiary payments to YPF S.A. For investors, the filing indicates where to find the material payment detail (Exhibit 2.01) but the absence of payment amounts in the provided content prevents any analysis of cash flows to governments, tax exposure, or country concentration of payments.

Corporate Governance Expert

TL;DR: The Form SD indicates procedural compliance and segment disclosures, but the substantive payment data are contained in an exhibit not present here.

The document clearly states the scope of the report and reporting conventions (USD presentation, conversion methodology) and identifies the organizational segments and project block approach. From a governance perspective, these disclosures meet format expectations, but review of Exhibit 2.01 is required to assess material governance issues such as concentration of payments, host‑government dependencies, or anomalies in payment routing.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM SD

SPECIALIZED DISCLOSURE REPORT

YPF Sociedad Anónima

(Exact name of the registrant as specified in its charter)

Republic of Argentina

(State or other jurisdiction of incorporation or organization)

1-12102

(Commission file number)

n/a

(I.R.S. Employer Identification No.)

Macacha Güemes 515

Ciudad Autónoma de Buenos Aires, Argentina

(Address of principal executive offices)

C1106BKK

(Zip code)

Paula Dutto

Tel.: (011-54-11) 5441-0000

(Name and telephone number, including area code,

of the person to contact in connection with this report)

Check the appropriate box to indicate the rule pursuant to which this Form is being submitted, and provide the period to which the information in this Form applies:

☐ Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2024.

☒ Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2024.

Section 1 - Conflict minerals disclosure

Item 1.01  Conflict minerals disclosure and report

Not applicable.

Section 2 - Resource extraction issuer disclosure

Item 2.01  Resource extraction issuer disclosure and report

Disclosure of payments by resource extraction issuers

The payment disclosure required by this Item 2.01 is included as Exhibit 2.01 to this Form SD.

Report on payments to governments for the year ended December 31, 2024

This report provides a consolidated overview of the payments to the Federal Government and Foreign Governments (each, as defined in Form SD, and together “Governments”) made by YPF Sociedad Anónima (“YPF S.A.”) and its subsidiaries for the fiscal year ended December 31, 2024. Unless the context requires otherwise, references in this report to “the Company”, “YPF”, “we”, “us” and “our” refer to YPF S.A. and its subsidiaries. References to “dollars”, “U.S. dollars”, “U.S. dollar” or “US$” are to United States dollars, and references to “peso”, “pesos” or “Ps.” are to Argentine pesos.

All payments are reported in U.S. dollars, which is the presentation currency of our consolidated financial statements. Payments that were made in currencies other than in U.S. dollars have been converted to U.S. dollars using the exchange rate applicable on or about the date of payment.

This report provides an overview of the payments made by YPF S.A. and its subsidiaries to Governments, but excludes any payments made by any of our subsidiaries to YPF S.A.

Our business segments

As of December 31, 2024, we conducted our business according to the following business segment structure:

Upstream business segment

The Upstream business segment performs all activities related to the exploration and exploitation of hydrocarbon fields and production of crude oil and natural gas.

Downstream business segment

The Downstream business segment performs activities related to: (i) crude oil refining and the production of petrochemical products; (ii) logistics related to the transportation of crude oil to the refineries and the transportation and distribution of refined and petrochemical products to be marketed at the different sales channels; (iii) commercialization of refined and petrochemical products obtained from such processes; (iv) commercialization of crude oil; and (v) commercialization of specialties for the agribusiness industry and of grains and their by-products.

Gas and Power business segment

The Gas and Power business segment performs activities related to: (i) natural gas transportation to third parties and the Downstream business segment and its commercialization; (ii) commercial and technical operation of the LNG regasification terminal in Escobar by hiring a regasification vessel; (iii) transportation, conditioning and processing of natural gas retained in plant for the separation and fractionation of gasoline, propane and butane; (iv) distribution of natural gas through our subsidiary Metrogas S.A.; and (v) storage of the natural gas produced. Also, through our investments in associates and joint ventures, the Gas and Power business segment undertakes activities related to: (i) separation of natural gas liquids and their fractionation, storage and transportation for the production of ethane, propane, butane and gasoline; (ii) generation of conventional thermal electric power and renewable energy; and (iii) production, storage, distribution and sale of fertilizers.

Central Administration and Others

It covers other activities performed by the Company that are not falling under the business segments mentioned above and which are not reporting business segments, mainly comprising corporate administrative expenses and assets and construction activities.

Our projects

This report discloses the payments made by us to Governments for the commercial development of crude oil, natural gas, or minerals, and which involves the exploration, development and extraction of crude oil, natural gas and minerals.

We organize our operations into blocks, i.e., areas defined by concession contracts or operating contracts signed by YPF. Where activities related to one of the blocks cross the borders of a major subnational political jurisdiction, we have disclosed payments for such block separately segregated per major subnational political jurisdiction.

1

Section 3 - Exhibits

Item 3.01    Exhibits

The following exhibit is filed as part of this report on Form SD.

Exhibit 2.01 – Resource extraction payment report

2

SIGNATURES

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 duly authorized undersigned.

YPF SOCIEDAD ANÓNIMA

By: /s/ Federico Barroetaveña

Name: Federico Barroetaveña

Title: Chief Financial Officer

Date: August 12, 2025

3

FAQ

Does YPFs Form SD report conflict minerals disclosures?

The filing states the conflict minerals disclosure is not applicable.

What period does the resource extraction payments report cover for YPF (YPF)?

The report covers payments to governments for the fiscal year ended December 31, 2024.

Are payment amounts to governments included in the provided Form SD content?

No; the filing notes that the payment disclosure is included as Exhibit 2.01, which is not contained in the text provided here.

In what currency are YPFs payments reported in the filing?

All payments are reported in U.S. dollars, with non‑USD payments converted using the exchange rate applicable on or about the date of payment.

What business segments does YPF describe in this Form SD?

YPF describes Upstream, Downstream, Gas and Power, and Central Administration and Others.