Petroquímica Comodoro Rivadavia reports discovery in Ecuador

This essential fact from Petroquímica Comodoro Rivadavia was published using machine translation.

Sirs

National Value Comission

Bolsas y Mercados Argentinos SA

Electronic Open Market

Present

Ref: Petrochemical Comodoro Rivadavia SA (the “Company” or “PCR”). Reports Relevant Fact – Discovery in Ecuador.

Of our consideration:

In compliance with the provisions of the applicable regulations, I am pleased to address you, in my capacity as representative of Petrochemical Comodoro Rivadavia SA, for the purposes of informing that its subsidiary established in the Republic of Ecuador, PCR-Ecuador SA, as operator of the “90 - Sahino” oil block, within the framework of the exploration work committed by the company for said block, the drilling of three wells called VHR Sur 01, VHR SUR 02 and VHR SUR 03 has been completed. After carrying out certain tests, studies and preliminary analyses, PCR Ecuador has confirmed the presence of hydrocarbons in the VHR SUR 01 well, with the following results:

- Upper U layer with total fluid production after 72 hours. test, of 2,095 barrels per day with 1.01% water (2,074 bpd of oil).

- Lower U layer with total fluid production after 75 hours. test of 2,362 barrels per day with 1.03% water (2,337 bpd of oil).

Based on these positive results, PCR-Ecuador SA will proceed to carry out extended tests for a period of 90 days, starting in May 2024. We are currently completing the VHR SUR 02 well and will immediately proceed to the completion of the VHR SUR 03 well, thus giving full compliance to the investment commitment in block 90 - Sahino.

Finally, it is noted that, although the expected economic result is still uncertain, given that it is not yet possible to accurately predict the magnitude or dimensions of the discovery in question until the extended tests are carried out, the preliminary results observed in The VHR SUR 01 well opens up prospects for additional drilling in the field, always subject to prior obtaining of government permits and environmental licenses.

Without further ado, I greet you very carefully.

Mariano Juárez Goñi

Attorney

Alicia Moreau de Justo 2050 - 3rd floor, of. 304 (C1107AFP) - Buenos Aires, Argentina - Tel.: (5411) 5068-3000

www.pcr.energy