PDV Holding, Inc. thanks Luis A. Pacheco Rodríguez for his work as President of the ad hoc Administrative Board of PDVSA

Houston - December 8, 2020 - The Board of Directors of PDV Holding, Inc. (PDVH) and its subsidiaries, expresses its heartfelt gratitude to Dr. Luis A. Pacheco Rodríguez, for the valuable and tireless work carried out, at the head of the ad hoc Administrative Board of Petróleos de Venezuela, SA (PDVSA), since he was appointed by the National Assembly on April 9, 2019. His extensive experience and knowledge, placed at the service of the country, have been fundamental in the mission of recovery, control, and protection of PDVSA assets in the United States.

The Board of Directors of PDVH wants to highlight the results obtained by Luis A. Pacheco's administration of almost two years as President of the state oil company, and the achievements not only for PDVSA but also for the rescue and strengthening of each of its subsidiaries, like the financial and operational recovery of the assets of the entities that make up CITGO. At the head of PDVSA, Dr. Pacheco also led the legal strategy that has been essential to effectively face each of the litigations that, due to the irresponsibility of previous administrations, keeps the most important assets of the nation abroad at risk.

We wish Dr. Pacheco success in each of the challenges he is about to take on, with the assurance that from wherever he is, he will always be at the service of the country and the National Oil Industry.