GAS TRANSPORTER OF THE SOUTH Business Summary

Transportadora de Gas del Sur (TGS) is Argentina’s largest natural gas transporter and a leading midstream energy provider, generating revenue through a mix of regulated transportation tariffs and market-driven commercialization of Natural Gas Liquids (NGL). The company operates the country’s most extensive pipeline system, delivering approximately 60% of Argentina’s total gas consumption across four primary segments: Natural Gas Transportation, NGL Production and Commercialization (centered at the General Cerri Complex), Midstream Services (focused on gathering and conditioning in the Vaca Muerta shale), and Telecommunications via its subsidiary Telcosur. TGS has strategically pivoted toward high-growth midstream infrastructure, recently commencing construction on the Perito Moreno Gas Pipeline expansion in February 2026 to add 14 million cubic meters per day of capacity. Its primary direct competitor in the regulated sector is Transportadora de Gas del Norte (TGN), while it competes with integrated energy giants like YPF, Pampa Energía, and Pan American Energy in the midstream and NGL markets, where TGS maintains a dominant position as the premier logistics link between the Neuquén Basin and major consumption hubs. The company is led by Chief Executive Officer Oscar Sardi, a veteran engineer with over 35 years of experience in the Argentine energy sector, and Chief Financial Officer Alejandro Basso, who has managed the firm’s capital structure and international debt since 2016. In January 2026, the leadership team was further strengthened by the appointment of Jorge Vugdelija as Director of Large-Scale Projects, bringing extensive expertise from his previous roles as CEO of Oldelval and OCP Ecuador to oversee the firm's multi-million dollar pipeline expansions. TGS is controlled by Compañía de Inversiones de Energía S.A. (CIESA), a joint venture between Marcelo Mindlin’s Pampa Energía and the Sielecki family’s Grupo Inversor Petroquímica (GIP), ensuring deep institutional and political synergy. The board is chaired by Luis Alberto Fallo, with Vice Chairman Horacio Jorge Tomás Turri representing the strategic interests of the controlling shareholders. As a dual-listed entity on the NYSE and BYMA, TGS remains a focal point for institutional investors targeting Latin American energy infrastructure and the ongoing monetization of Argentina's unconventional gas reserves.