YPF Comments On Rating Change By Fitch

(YPF, 19.Feb.2021) — In accordance with the requirements of the Argentine Securities Commission (CNV) Rules YPF informs that Fitch Ratings decided to raise the long-term issuer default rating of the company and the rating of the unsecured negotiable obligations (“Senior Unsecured Notes”) on an international scale, in each case from “C” to “CCC”.

This decision was based on the completion of the exchange offer of the Senior Unsecured Notes classes XLVII, XXVIII, XXXIX, LIII and LIV issued under YPF’s Global Medium-Term Debt Securities Program for a maximum total principal amount outstanding at any time of US$10,000,000,000 (ten billion US Dollars) or its equivalent in other currencies (the “Program”), and YPF’s Class XIII and I negotiable obligations issued under the Simplified Frequent Issuer Regime.

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Such change in ratings includes the ratings of the Senior Unsecured Notes classes XLVII, XXVIII, XXXIX, LII, LIII and LIV issued under the Program and YPF’s Class XIII and I negotiable obligations issued under the Simplified Frequent Issuer Regime.

Yours faithfully,

Santiago Wesenack

Market Relations Officer

YPF S.A.

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