Petrobras On Transpetro Share Capital Reduction

(Petrobras, 29.Dec.2020) — Petrobras informs that, as sole shareholder, it approved today the reduction of share capital of its wholly-owned subsidiary Petrobras Transporte S.A. (Transpetro), in the amount of R$557,020,835.82 (around $107.2mn), in an Extraordinary General Meeting of Transpetro.

The capital reduction was made at book value, with no change in the number of shares, through the delivery to Petrobras, as a return of its interest in the share capital, of goods and rights related to the investments made by Transpetro in Petrobras’ leased assets, which are part of the scope of the divestment of the company’s refineries and their respective logistic assets.

This is a preparatory stage for the divestment and observes the obligations established in the commitment agreement celebrated with the Administrative Council for Economic Defense (CADE), on 06/11/2019.

It should be noted that the capital reduction has no effect on Petrobras’ consolidated financial statements.