Form 6-K

EXPLANATORY NOTE

On Friday, April 3, 2020, YPF S.A. (the “Company,” “we,” “us,” and “our,”), filed two updated prospectuses with the Argentine Securities Commission (the Comisión Nacional de Valores, or “CNV”), relating to the Company’s Global Medium-Term Debt Issuance Program for a maximum nominal amount outstanding at any time of US$ 10,000,000,000 and to the Company’s possibility to issue notes under the Frequent Issuer Regime (jointly, the “Prospectuses”).

The Company is hereby furnishing to the Securities and Exchange Commission (the “SEC”) a free translation of selected information (the “Information”) regarding the Company that has been set forth in the Prospectuses, which Information is attached as Exhibit 99.1 to this Form 6-K and incorporated by reference herein. The Information relates to our operations and results of operations for the year ended December 31, 2019 and, among other matters, certain additions and updates to the risk factors included in our Annual Report on Form 20-F filed with the SEC on April 4, 2019.

The information contained in this Form 6-K, including the Information contained in Exhibit 99.1 furnished herewith, does not constitute an offer to sell, or the solicitation of an offer to buy, any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This Form 6-K, including Exhibit 99.1, may include statements regarding the intent, belief, plans, current expectations or objectives as of the date hereof of YPF and its management, including statements with respect to trends affecting YPF’s future financial condition, financial, operating, reserve replacement and other ratios, results of operations, business strategy, geographic concentration, business concentration, production and marketed volumes and reserves, as well as YPF’s plans, expectations or objectives with respect to future capital expenditures, investments, expansion and other projects, exploration activities, ownership interests, divestments, cost savings and dividend payout policies. These forward-looking statements may also include assumptions regarding future economic and other conditions, such as the future price of petroleum and petroleum products, refining and marketing margins and exchange rates. These statements are not guarantees of future performance, prices, margins, exchange rates or other events and are subject to material risks, uncertainties, changes in circumstances and other factors that may be beyond YPF’s control or may be difficult to predict.

YPF’s actual future financial condition, financial, operating, reserve replacement and other ratios, results of operations, business strategy, geographic concentration, business concentration, production and marketed volumes, reserves, capital expenditures, investments, expansion and other projects, exploration activities, ownership interests, divestments, cost savings and dividend payout policies, as well as actual future economic and other conditions, such as the future price of petroleum and petroleum products, refining margins and exchange rates, could differ materially from those expressed or implied in any such forward-looking statements. Important factors that could cause such differences include, but are not limited to fluctuations in the price of petroleum and petroleum products, supply and demand levels, currency fluctuations, exploration, drilling and production results, changes in reserves estimates, success in partnering with third parties, loss of market share, industry competition, environmental risks, physical risks, the risks of doing business in developing countries, legislative, tax, legal and regulatory developments, economic and financial market conditions in various countries and regions, political risks, wars and acts of terrorism, natural disasters, project delays or advancements and lack of approvals, as well as those factors described in the filings made by YPF and its affiliates before the CNV in Argentina and with the U.S. SEC, in particular, those described in “Item 3. Key Information—Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in YPF’s Annual Report on Form 20-F for the fiscal year ended December 31, 2018 filed with the Securities and Exchange Commission. In light of the foregoing, the forward-looking statements included in this document may not occur.

Except as required by law, YPF does not undertake to publicly update or revise these forward-looking statements even if experience or future changes make it clear that the projected performance, conditions or events expressed or implied therein will not be realized.

Exhibit No.		Description

99.1		Selected information contained in the Prospectuses.


	YPF Sociedad Anónima

Date: April 9, 2020	By:	/s/ Ignacio Rostagno
	Name:	Ignacio Rostagno
	Title:	Market Relations Officer