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 YPFs 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 YPFs 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 YPFs control or may be difficult to predict.
YPFs 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 InformationRisk Factors and Item 5. Operating and Financial Review and Prospects in YPFs 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.