Petrobras Comments On Decree 9,355/2018

(Petrobras, 2.Oct.2020) — Petrobras, following up on the release disclosed on 14 January 2019, informs that the Federal Supreme Court judged, by majority of votes, dismissing the direct action of unconstitutionality (ADI 5942/DF) that questioned the Decree 9,355/2018, edited to regulate the special procedure for assignment of rights to exploration, development and production of oil, natural gas and other fluid hydrocarbons, as well as to discipline the hiring made by Petrobras as operator of consortiums formed for exploration and production of oil and gas fields.

With this decision, the Federal Supreme Court granted legal security to the regime applicable to the company’s E&P asset divestment projects and to its hiring as an operator of consortiums formed to explore and produce these assets.

In this way, Petrobras ensures the strategy of portfolio optimization and improvement of capital allocation, as well as its performance as a world-class deepwater and ultra-deepwater asset operator, where the company has shown great competitive differential over the years, thus allowing a greater generation of value for our shareholders.

Finally, Petrobras reinforces its commitment to the broad transparency of its divestment and portfolio management projects.

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