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PostSubject: PETROBRAS ARGENTINA   PETROBRAS ARGENTINA I_icon_minitimeThu Dec 28, 2017 1:26 am

Autonomous City of Buenos Aires, June 2, 2016



To the Directors of



To the Directors of





Petrobras Argentina S.A.







Registered office: Maipú 1, 22nd floor



Autonomous City of Buenos Aires





Re: Fair Price under the provisions of Section 5, Article I, Chapter II, Title III of



General Resolution 622/2013 issued by the Argentine Securities Commission.



On May 12, 2016, Pampa’s Board of Directors and Petróleo Brasileiro S.A.’s Executive



Management Board and Board of Directors approved the Transaction for a base price of



US$892,000,000 (eight hundred ninety two million United States dollars) for 100% of



Petrobras Participaciones S.L. which in turn controls 67.2% of PESA’s capital stock (the



“Base Price”). The Base Price is subject to adjustments agreed upon between the parties.





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