0001193805-20-001451 Sample Contracts

Contract
Deposit Agreement • November 18th, 2020 • JPMorgan Chase Bank, N.A. - ADR Depositary • American depositary receipts • New York

AMENDMENT NO. 1, dated as of , 2020 (the "Amendment"), to the Second Amended and Restated Deposit Agreement dated as of March 3, 2017 (the "Deposit Agreement"), among Pampa Energía S.A., a corporation organized under the laws of the Republic of Argentina (the "Company"), JPMorgan Chase Bank, N.A., as depositary (the "Depositary"), and all holders from time to time of American depositary receipts ("ADRs") issued thereunder.

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