Petroperú S.A. initiates legal proceedings against MAPFRE Peru for refusal of policy coverage linked to the Talara Refinery Modernization Project

In order to protect the interests of the Peruvian State and ensure compliance with the contractual agreements signed to safeguard the Talara Refinery Modernization Project (PMRT), Petroperú S.A. filed a claim for an obligation to give a sum of money against MAPFRE PERÚ COMPAÑÍA DE SEGUROS Y REASEGUROS. This, following the refusal of the insurer to grant coverage and compensation as established in the "All Risk for Contractors – Start-up Delay (CAR/ALOP)" policy contracted by Petroperú S.A.

The lawsuit that was filed last August before the 14th Civil-Commercial Court of Lima contemplates the recognition of USD 432'800,000.00 plus the corresponding interest, for the delay of the PMRT due to the impacts generated by COVID-19, which is expressly covered by Clause 9 ("Infectious Diseases and Bodily Injuries") of Section II of the CAR/ALOP policy.

Within the framework of the processing of the process, by Resolution No.1 of September 29, 2025, the court admitted the claim of Petroperú S.A. and granted MAPFRE PERÚ a period of 30 days after notification to comply with the claim. Likewise, he ordered to notify the Superintendency of Banking, Insurance and AFP (SBS) and the Superintendency of the Securities Market (SMV) with the lawsuit and the admission order. The request for notification to the SBS and SMV was raised by Petroperú S.A. given the systemic relevance of the case for the financial and insurance market, as well as the economic impact of the controversy on the Peruvian State.

The Talara Refinery Modernization Project is a project of public necessity and national interest (declared by Law No. 30130), aimed at energy security and the production of clean fuels, for the preservation of air quality and public health. Therefore, the proper execution of the contracted coverage and compliance with insurance obligations has a direct impact on State risk management and market confidence.

The objective of the legal action is to obtain compliance with the contractual obligations assumed by the insurer and compensate the economic damages effectively verified by the stoppage of the work, which was declared of public necessity and national interest.

Petroperú S.A. reaffirms its respect for due process and transparency, maintaining its willingness to collaborate with the corresponding institutions.