PETROPERÚ's new administration mitigated impacts to guarantee continuity of the PMRT and its gradual start-up in April 2022

In relation to journalistic versions that attribute the delays in the construction of the new refinery to the current management, we specify the following:

1. Since taking office last September, the current administration of PETROPERÚ began actions to mitigate the delays generated during 2021, and in coordination with the supervising company of the Talara Refinery Modernization Project (PMRT) as well as by indication of the new General Management, various strategies were implemented that have allowed, in 30 days of management, the resumption of activities in the work associated with the critical path of the PMRT, a problem that had not been overcome in the first eight months of the year.
2. According to the new work schedule, the gradual start-up of the New Talara Refinery would take place in April 2022.
3. As has been reported, the current administration upon assuming office became aware of delays due to controversies, as well as claims between contractors and subcontractors, which caused some of the work corresponding to the critical path to start up to be completely stopped, all This added to the impact of the COVID-19 pandemic, affecting the initial work schedule, which meant a potential delay for its start-up until September 2022, a reduced term, thanks to the efforts of the new administration.
4. The optimization of the execution deadlines for the start-up of the New Talara Refinery, promoted by the new PETROPERÚ Board of Directors, will generate a significant reduction of approximately 50% of the economic impact projected by the company's previous management.
5. It is important to point out that PETROPERÚ is commissioning a specialized study on the investments incurred in this megaproject, which to date has a comprehensive progress of 96.32%.