The Company has extended the Early Tender Deadline to 5:00 P.M. New York City time on October 12, 2016, unless extended or earlier terminated by PDVSA at its sole and absolute discretion

Petróleos de Venezuela, S.A. (“PDVSA” or the “Company”) today announced the extension of the Early Tender Deadline of the offers to exchange (the “Exchange Offers”) of up to U.S.$5,325 million aggregate principal amount of PDVSA’s outstanding 5.250% Senior Notes due 2017 (the “April 2017 Notes”) and 8.50% Senior Notes due 2017 (the “November 2017 Notes,” and together with the April 2017 Notes, the “Existing Notes”) for new 8.50% Senior Secured Notes due 2020 (the “New Notes”).

The Company has extended the Early Tender Deadline to 5:00 P.M. New York City time on October 12, 2016, unless extended or earlier terminated by PDVSA at its sole and absolute discretion. The Early Tender Deadline was previously scheduled to expire at 5:00 P.M. New York City time on October 6, 2016 (the “Prior Early Tender Deadline”). The Withdrawal Deadline expired as of the Prior Early Tender Deadline, and there will be no withdrawal rights for the remainder of the Exchange Offers. All other terms and conditions to the Exchange Offers remain the same.

The full set of documents, including this announcement, the Offering Circular and the Supplement to the Offering Circular can be found on the offer website (following registration):https://sites.dfkingltd.com/pdvsa

Kind regards,

D.F. King Team

Email: pdvsa@dfkingltd.com

Website: https://sites.dfkingltd.com/pdvsa