CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We hereby consent to the incorporation by reference in Pampa Energía S.A.'s Registration Statement on Form F-4/A of our reportdated April 29, 2016, relating to the consolidated financial statements and the effectiveness of internal control over financial reporting, which appears in Petrobras Argentina S.A.'s Annual Report on Form 20‑F for the year ended December 31, 2015. We also consent to the referenceto us under the heading“Independent Registered Public Accounting Firm”in such Registration Statement.
/s/ Price Waterhouse & Co. S.R.L.
Argentina, Autonomous City of Buenos Aires
October 6, 2016
