PDV Holding, Inc. Announces New Board Members Appointments

Houston - June 23, 2021 - The Board of Directors of PDV Holding, Inc. (PDVH) announces that Samuel Alfonso Wilhelm Belloso, Andrés Miguel Arvelo Guerrero and Exeario Boscán have been appointed as new members of our Board. These three Venezuelans take on this important role in substitution of Fernando Vera Fernández, Elio Tortolero and Glixon Mavarez to whom we extend our profound gratitude for their commitment and professionalism in leading this company.

The oil industry in the United States had a difficult 2020, with challenges continuing in 2021 as the industry works to overcome the consequences of the COVID-19 pandemic. Additionally, our subsidiary CITGO Petroleum Corporation was also affected by several severe storms that disrupted refinery operations, including two hurricanes and sub-freezing temperatures for an extended period. With the full support of the Board of Directors, we trust that Wilhelm, Arvelo and Boscán will assume the important responsibility of leading and competitively positioning our subsidiaries in the United States with courage and integrity.