TRANSLATION
Autonomous City of Buenos Aires, December 28, 2012
To the
Bolsa de Comercio de Buenos Aires
(Buenos Aires Stock Exchange)
Ref.: YPF S.A. enters into an agreement with Bridas International S.A.
The purpose of this letter is to comply with the requirements of section No. 23 of Chapter VII of the regulations of the Buenos Aires Stock Exchange.
We hereby inform you that YPF S.A. (“YPF”) has today entered into an agreement (the “Agreement”) with Bridas International S.A. (“Bridas”) through which YPF grants Bridas an exclusive right for a 60-day period, effective as of the date hereof, to negotiate the final terms and conditions under which YPF would transfer a 50% interest in the areas of "Bajada de Añelo" and "Bandurria," which comprise an area of 201 km2 and 462.4 km2, respectively, in the province of Neuquén (see Annex I). Initially, YPF would transfer a total of 183.6 km2, for which Bridas is committed to make the expenditures corresponding to the respective percentages of participation of YPF and Bridas in the initial investment of the development program, for estimated US$1.5 billion, during a 24-month period.
In addition, the Agreement contemplates, among other things, that Bridas will procure financing for YPF for an amount of US$500 million, to be invested in the subsequent development stages.
Yours faithfully,
Fernando Giliberti
Director
YPF S.A.