PETROPERÚ comments on details on the execution of the Talara Refinery Modernization Project

Mr.
Carlos Parodi Trece

Universidad del Pacífico

Jr. Gral. Luis Sánchez Cerro 2141

Jesús María. -

Of our great esteem:

This letter is to greet you cordially and at the same time send you important details about your statements given to the television program 90 Matinal de Latina, on Tuesday, June 1 of this present, which are imprecise and have been generating confusion in public opinion.

During his participation as an economist at the Universidad del Pacífico, you pointed out the following: “Very specifically, with a metaphor so that it is understood very easily. The Peruvian State has invested more or less six billion dollars in the Talara Refinery, which is still not working, by the way; second, if that money had been invested in health, Peru would now have 50 first-generation oxygen hospitals in different cities of Peru, we would not have had much of the problem that we have had. That is why in economics we have to go to practical things, if that money had been used in health, today we would probably be mourning fewer deceased”.

In this regard, we inform you that this investment project, declared of Public Necessity and National Interest, is executed with PETROPERÚ S.A.'s own resources and not with money from the national treasury. Likewise, it is important to specify that the project is carried out with an investment of USD 4,999.8 million and not with the figure that you indicate.

Along these lines, and being PETROPERÚ SA's own resources, the example that you use, according to which, with this investment, 50 first-generation hospitals would have been built would not be viable, since, as we have mentioned previously, the financing of the Talara Refinery Modernization Project (PMRT) does not depend on the public budget or the taxpayers, but on the budget that PETROPERÚ SA generates from its management, investments and projects.

In 2020, despite the negative impacts of the pandemic and the restrictions during the State of National Emergency, the Company contributed USD 1,024.0 million to the public treasury and, as one of the main contributors in the country, in the last 17 years PETROPERÚ SA it has contributed to the national treasury close to USD 20 billion.

For the aforementioned, we regret not having contacted us to specify the issues related to PETROPERÚ S.A. and the PMRT, a situation that would have allowed us to contrast the data provided in a communication medium in order to correctly inform the public opinion, especially referring to an issue as sensitive as public health and the terrible consequences that the pandemic has brought to the country.

Without further ado, we say goodbye thanking you for your attention to our communication and expressing our willingness to answer your queries or doubts about the management of PETROPERÚ S.A. and its main projects, among which is the PMRT, which will begin its start-up process at the end November, producing clean fuels that help preserve the country's air quality.

Sincerely,

Carlos Barrientos Gonzales

General Manager