YPF Files 6-K on Portfolio Optimization Strategy

TL;DR

YPF's 6-K filing reveals a "Portfolio Optimization Strategy" discussion with Argentine regulators.

AI Summary

YPF Sociedad Anónima filed a Form 6-K on March 1, 2024, to report a letter sent to the Argentine Securities Commission (CNV), Mercado Abierto Electrónico S.A. (MAE), and Bolsas y Mercados Argentinos S.A. (ByMA). The letter, dated March 1, 2024, discusses a "Portfolio Optimization Strategy."

Why It Matters

This filing indicates YPF is actively managing its assets and strategic direction, which could impact its future financial performance and market position.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of a strategy discussion, not an immediate financial event or negative news.

Key Players & Entities

• YPF Sociedad Anónima (company) — Registrant
• COMISIÓn NACIONAL DE VALORES (company) — Recipient of letter
• MERCADO ABIERTO ELECTRÓnICO S.A. (company) — Recipient of letter
• BOLSAS Y MERCADOS ARGENTINOS S.A. (company) — Recipient of letter
• March 1, 2024 (date) — Date of letter and filing

FAQ

Filing Documents

• d731962d6k.htm (6-K) — 14KB
• g731962g0301052434352.jpg (GRAPHIC) — 2KB
• 0001193125-24-054357.txt ( ) — 18KB

From the Filing

6-K 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 March 2024 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 dated March 1, 2024. Buenos Aires, March 1, 2024 COMISIÓN NACIONAL DE VALORES (CNV) 25 de Mayo 175 MERCADO ABIERTO ELECTRÓNICO S.A. (MAE) Maipú 1210 BOLSAS Y MERCADOS ARGENTINOS S.A. (ByMA) Sarmiento 299 Present Ref.: Portfolio Optimization Strategy. Consideration of transfer and reversion of conventional fields Our highest consideration: We are hereby writing to you in order to comply with the requirements of the Argentine Securities Commission and the corresponding rules of ByMA and MAE in order to inform that, within the framework of the new strategy of YPF S.A. (the Company o YPF ) to optimize its Conventional Upstream portfolio, with the purpose of making efficient capital allocation that prioritizes assets of scale that provide greater profitability and resilience at different scenarios, the Companys Board of Directors, at its meeting held on February 29, approved the optimization plan (through transfers and reversions) of certain groups of Conventional Upstream assets - usually called Mature Fields. The Mature Fields comprising the asset group consist of a total of 55 areas (the Assets ). The abovementioned plan is consistent with the Companys new management plans, which considers that the optimization of the conventional Upstream portfolio is one of the drivers on which the YPFs strategy is based, with focus on activities and investments in unconventional fields, with the ultimate objective of maximizing value for the Company, its shareholders and investors. Finally, it is informed that pursuant to the International Financial Reporting Standards (IFRS) this decision will imply an assessment of the accounting recoverable value of the Assets, evidencing an impairment indicator of its accounting value as of December 31, 2023. Consequently, a non-cash impairment is estimated as of the date hereof at approximately USD 1,800 million (or approximately USD 1,200 million after taxes), which shall be considered in the annual financial statements of the Company as of December 31, 2023, to be informed in due course in accordance with applicable regulation. This estimate is based on preliminary information and subject to change during the ordinary review and audit process of the financial the information and analysis to date, and is not aware of any factors that could materially affect such estimate. Additionally, this communication includes forward-looking statements. These statements represent the Companys current expectations regarding future events, and are subject to known and unknown risks, uncertainties and other factors, including those described in the Companys filings with the Argentine Securities Commission ( Comisi ó n Nacional de Valores ) and the U.S. Securities Exchange Commission (SEC), which could cause actual results or events to be materially different from those described in such statements. The Company undertakes no obligation to update or revise these statements as a result of new information, recent events or any other reason, except as required by law. Sincerely yours, Pedro Kearney Alternate Market Relations Manager 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: March 1, 2024 By: /s/ Pedro Kearney Name: Pedro Kearney Title: Alternate Market Relations Manager

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View this 6-K filing on SEC EDGAR