Santiago, March 5, 2013 Mr. Fernando Coloma Correa

Santiago, March 5, 2013 Mr. Fernando Coloma Correa

Santiago, March 5, 2013
Mr. Fernando Coloma Correa
Superintendent
Superintendency of Securities and Insurance
Santiago
Re: Material Information
Empresa Nacional del Petróleo
Securities Register No. 783
Dear Sir:
Pursuant to the stated in Article 9 and Article 10, paragraph 2 of the Securities Market law
18.045, and in General Rule No. 30 of this Superintendency, and duly authorized, I inform
you that on March 4, 2013, the international rating agency Moody's downgraded the foreign
exchange rate risk of Empresa Nacional del Petróleo (ENAP) from "Baa2" – "negative
Outlook" to "Baa3" – "negative Outlook."
The reasons for this rating downgrade are explained in the attached note of Moody's.
Yours sincerely,
Ricardo Cruzat Ochagavía
Chief Executive Officer
Empresa Nacional del Petróleo