EMPRESA NACIONAL DEL PETRÓLEO
a state-owned enterprise organized under the laws of the Republic of Chile

OFFERS TO PURCHASE FOR CASH

(i) any and all of the Any and All Notes (as defined below) and
(ii) the Maximum Tender Offer Notes (as defined below) subject to the Maximum Aggregate Consideration Cap and/or the Tender Cap (each term as defined below) in each case subject to the New Financing Condition (as defined below)

Any and All of the Outstanding Securities Listed Below
(the “Any and All Notes”)

THE ANY AND ALL TENDER OFFER (AS DEFINED BELOW) WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON JULY 26 , 2024, AND THE MAXIMUM TENDER OFFER (AS DEFINED BELOW) WILL EXPIRE AT 5:00 P.M. NEW YORK CITY TIME ON AUGUST 19, 2024, UNLESS EXTENDED OR EARLIER TERMINATED BY THE COMPANY (AS DEFINED BELOW) IN ITS SOLE AND ABSOLUTE DISCRETION (SUCH TIME AND DATE, AS THE SAME MAY BE EXTENDED OR EARLIER TERMINATED WITH RESPECT TO AN OFFER, THE APPLICABLE “EXPIRATION TIME”).

YOU MUST VALIDLY TENDER YOUR ANY AND ALL NOTES, OR DELIVER A PROPERLY COMPLETED AND DULY EXECUTED NOTICE OF GUARANTEED DELIVERY, AT OR PRIOR TO THE ANY AND ALL EXPIRATION TIME (SUCH DATE AND TIME, INCLUDING AS EXTENDED OR EARLIER TERMINATED, THE “ANY AND ALL EXPIRATION TIME”) TO BE ELIGIBLE TO RECEIVE THE ANY AND ALL PURCHASE PRICE CONSIDERATION (AS DEFINED BELOW) PLUS ACCRUED INTEREST.

YOU MUST VALIDLY TENDER YOUR MAXIMUM TENDER OFFER NOTES AT OR PRIOR TO 5:00 P.M., NEW YORK CITY TIME, ON AUGUST 2, 2024 (SUCH DATE AND TIME, INCLUDING AS EXTENDED OR EARLIER TERMINATED WITH RESPECT TO THE MAXIMUM TENDER OFFER NOTES, THE “EARLY TENDER TIME”) TO BE ELIGIBLE TO RECEIVE THE MAXIMUM TENDER TOTAL CONSIDERATION (AS DEFINED BELOW) PLUS ACCRUED INTEREST, WHICH ALREADY INCLUDES THE EARLY TENDER PREMIUM. IF YOU VALIDLY TENDER YOUR MAXIMUM TENDER OFFER NOTES AFTER THE EARLY TENDER TIME BUT AT OR PRIOR TO THE MAXIMUM TENDER EXPIRATION DATE (AS DEFINED BELOW), YOU WILL ONLY BE ELIGIBLE TO RECEIVE THE APPLICABLE LATE MAXIMUM TENDER OFFER CONSIDERATION (AS DEFINED BELOW).

ANY AND ALL NOTES VALIDLY TENDERED MAY BE VALIDLY WITHDRAWN AT ANY TIME AT OR PRIOR TO 5:00 P.M., NEW YORK CITY TIME, ON JULY 26, 2024 AND MAXIMUM TENDER OFFER NOTES VALIDLY TENDERED MAY BE VALIDLY WITHDRAWN AT ANY TIME PRIOR TO 5:00 P.M., NEW YORK CITY TIME, ON AUGUST 2, 2024 (SUCH TIMES AND DATES, AS THEY MAY BE EXTENDED WITH RESPECT TO THE ANY AND ALL NOTES OR MAXIMUM TENDER OFFER NOTES, THE APPLICABLE “WITHDRAWAL DEADLINE”). FOR THE AVOIDANCE OF DOUBT, HOLDERS MAY WITHDRAW VALIDLY TENDERED MAXIMUM TENDER OFFER NOTES AT OR BEFORE THE EARLY TENDER TIME BUT NOT THEREAFTER, UNLESS REQUIRED BY APPLICABLE LAW.