PETROPERÚ Petróleos del Perú : PETROPERU clarifies publication by the Expreso newspaper

Mr.
Antonio Ramírez Pando

Director Diario Expreso

Calle Luis Carranza 2280, Lima 1.

Present.-

Of my consideration:

This is to greet you and, at the same time, request the rectification of the column entitled: 'Francisco Sagasti y PETROPERÚ', signed by Mr. Rafael Romero, published in the national edition of the Expreso newspaper on Sunday 12/27/2020, which contains inaccurate statements that should be clarified for the sake of truth and the corporate reputation of the Company and its officers.

Regarding the Talara Refinery Modernization Project, we indicate that its investment cost is US $ 4,700'000,000 and not US $ 7,874'000,000, as stated in the note. The indebtedness to cover this amount will begin to be paid, in large part, from the start of operation of the new refinery complex at the end of 2021; and it will be carried out with the Company's own resources and not 'by all Peruvians', as the note states.

On the other hand, throughout its execution, the project has been developed under the supervision of the Company and that of an international consortium. In addition, the Comptroller General of the Republic has been made aware of the actions carried out and has requested information that has been provided to it; as well as it has issued control reports, which have been answered. While she currently maintains concurrent control over the project, her claim that the project has been carried out 'without any control' is erroneous.

Likewise, it is important to specify that PETROPERU has no interference in the contracting and subcontracting of the main contractors of this project, Técnicas Reunidas and Consorcio Cobra SCL.

Regarding the change in visual identity, it is important to specify that this is carried out as part of a process that began eight years ago and did not cost US $ 76 million, so it has not been paid 'during the pandemic', as mentioned wrongly in your post. Currently, as we have reported, PETROPERU has been making a change in its positioning in the national market, through a new visual identity that is gradually being applied in affiliated service stations and other facilities, basically with the regular budget of the Company.

It is false that the contract for the implementation of the Talara Modular Hospital has been questioned in the media, as stated by the author. This health center is operational and in possession of ESSALUD, contributing to the fight against COVID-19 in the Piura region. It is also inaccurate that the sales plants and terminals in the South have been outsourced; on the contrary, PETROPERU has been operating them directly.

The note states that the Supply Chain Manager, Santiago Santa María Rizo Patrón, has intervened in an insurance contract with a company owned by his first cousin, which is false. The person named is not his first cousin and said contract was not made by his management. Likewise, there is no conflict of interest solely for having the same surname. Furthermore, it is not true that there is a new contract for the Iquitos pier, as stated in the note.

With regard to the Company's social management policy, we must clarify that it has managed to significantly reduce the conflicts caused by the cuts to the North Peruvian Pipeline (ONP), having developed programs with direct benefits for the communities adjacent to the pipeline. The current problems with some indigenous organizations are not related to PETROPERU but to the plan to close social gaps in charge of the PCM, which has managed to resolve the last pending conflicts in the ONP with the active participation of our Company as coordinator of the different sectors of the State in charge of the social demands of the native communities. It is not accurate, therefore, to say that 'social conflicts do not diminish', as the author of the note maintains.

It is also false that the building of the main headquarters of the PETROPERU Company or the Club will be sold. In all cases, underutilized properties or that are not directly related to the operations of the Company are being valued. In the case of the main headquarters, the aim is to rent several flats that are currently unoccupied or to be vacated thanks to teleworking. In the case of the PETROPERU Club, it is a property that has been owned by the Company for 40 years and its board of directors refuses to pay rent, despite the fact that two-thirds of its members do not belong to PETROPERU.

We regret the unprofessional and unbalanced attitude of the author of the note by not having contacted and consulted us about the accusations he makes to us prior to its dissemination, an elementary principle of journalism that would have allowed him to contrast the data or clarify them in a timely manner. In any case, our Company is at your disposal for all the queries you may require. We would appreciate taking into account the information provided to make the corresponding clarification within 48 hours, so that your reading public is aware of the true actions carried out by PETROPERU.

Without any other particular, we are waiting for the corresponding rectification in the terms, means, term and proportions similar to those used to disseminate the aforementioned allegations.

Best regards

Juan José Beteta Herrera

Manager (i) Communications Dpt.