This document contains statements that YPF believes constitute
forward-looking statements within the meaning of the US Private
Securities Litigation Reform Act of 1995.
These forward-looking statements may include statements regarding
the intent, belief, plans, current expectations or objectives as of
the date hereof of YPF and its management, including statements
with respect to trends affecting YPF’s future financial condition,
financial, operating, reserve replacement and other ratios, results
of operations, business strategy, geographic concentration,
business concentration, production and marketed volumes and
reserves, as well as YPF’s plans, expectations or objectives with
respect to future capital expenditures, investments, expansion and
other projects, exploration activities, ownership interests,
divestments, cost savings and dividend payout policies. These
forward-looking statements may also include assumptions regarding
future economic and other conditions, such as the future price of
petroleum and petroleum products, refining and marketing margins
and exchange rates. These statements are not guarantees of future
performance, prices, margins, exchange rates or other events and
are subject to material risks, uncertainties, changes in
circumstances and other factors that may be beyond YPF’s control or
may be difficult to predict.
YPF’s actual future financial condition, financial, operating,
reserve replacement and other ratios, results of operations,
business strategy, geographic concentration, business
concentration, production and marketed volumes, reserves, capital
expenditures, investments, expansion and other projects,
exploration activities, ownership interests, divestments, cost
savings and dividend payout policies, as well as actual future
economic and other conditions, such as the future price of
petroleum and petroleum products, refining margins and exchange
rates, could differ materially from those expressed or implied in
any such forward-looking statements. Important factors that could
cause such differences include, but are not limited to fluctuations
in the price of petroleum and petroleum products, supply and demand
levels, currency fluctuations, exploration, drilling and production
results, changes in reserves estimates, success in partnering with
third parties, loss of market share, industry competition,
environmental risks, physical risks, the risks of doing business in
developing countries, legislative, tax, legal and regulatory
developments, economic and financial market conditions in various
countries and regions, political risks, wars and acts of terrorism,
natural disasters, project delays or advancements and lack of
approvals, as well as those factors described in the filings made
by YPF and its affiliates before the Comisión Nacional de Valores
in Argentina and with the U.S. Securities and Exchange Commission,
in particular, those described in “Item 3. Key Information—Risk
Factors” and “Item 5. Operating and Financial Review and Prospects”
in YPF’s Annual Report on Form 20-F for the fiscal year ended
December 31, 2022 filed with the Securities and Exchange
Commission. In light of the foregoing, the forward-looking
statements included in this document may not occur.
Except as required by law, YPF does not undertake to publicly
update or revise these forward-looking statements even if
experience or future changes make it clear that the projected
performance, conditions, or events expressed or implied therein
will not be realized. These materials do not constitute an offer
for sale of YPF S.A. bonds, shares or ADRs in the United States or
elsewhere.
The information contained herein has been prepared to assist
interested parties in making their own evaluations of YPF.
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