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harbor statement under the US Private Securities Litigation Reform Act of 1995. 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 of YPF and its management, including statements with respect to 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 future crude oil and other prices, 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 and other factors which may be beyond YPF’s control or may be difficult to predict. 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 otherwise. Disclaimer 2 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 future crude oil and other prices, 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, oil, gas and other price fluctuations, 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 with the 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, 2014 filed with the US Securities and Exchange Commission. In light of the
foregoing,
the forward-looking statements included in this document may not occur. |