Terpel agrees to sell assets in Ecuador and Peru

This relevant information filed by Terpel was published using machine translation.

ORGANIZACIÓN TERPEL SA (hereinafter “Terpel”) informs the market that today its Board of Directors, in use of its statutory powers, approved and, consequently, the following operations were carried out:

A. Sale of 100% of the assets of the companies TERPEL PERÚ SAC and TERPEL COMERCIAL PERÚ SRL, subsidiaries of Terpel domiciled in Peru, corresponding to the operation of liquid fuel and Natural Gas Vehicle (NGV) service stations.

B. Disposal of 100% of the shareholding that Organization Terpel SA holds directly or indirectly in the company TERPEL COMERCIAL ECUADOR CIA LTDA., a subsidiary of Terpel domiciled in Ecuador, dedicated to the business of service stations and convenience stores.

C. That Organization Terpel SA and/or any of its related companies, be guarantor before the eventual buyers of operations A and B mentioned above.

The transactions described above are authorized to be carried out with CORPORACIÓN PRIMAX SA and COESTI SA, in Peru and with PRIMAX COMERCIAL DEL ECUADOR SA in Ecuador for a value of USD$64,000,000.oo.

This decision responds to Terpel's interest in concentrating on businesses with the greatest potential for growth and profitability in each of the markets where it operates.

However, to reach their definitive materialization, the above operations are subject to the approval of the competent authorities of each country. While the corresponding authorizations are issued, the control and operation of the business will continue to be the responsibility of Terpel.

The business restructuring process, if carried out, would be completed immediately if approvals are obtained from the competent authorities as follows: i) in Peru, with the signing of public documents, through which the assets of the company are transferred. the company and; ii) in Ecuador, with the subscription and registration of the transfer of the company's shares.

Finally, Terpel indicates that it will continue to market Mobil lubricants in Ecuador and Peru; and in the same way, it will continue with the marketing of Aviation fuels and the wholesale sale of liquid vehicle fuels in Peru and Natural Gas Vehicles (NGV) for mass transportation in its capital city, carrying the value proposition of these segments to consumers and strengthening its leadership in the market.