Petrobras Still Seeking to Divest up to 100% in Braskem

(Petrobras, 6.Jan.2022) — Petrobras, regarding the news published in the media, clarifies that, as disclosed on 16 December 2021, it maintains its position of seeking the sale of up to 100% of the preferred shares it holds in Braskem S.A., to be conducted through secondary public offering(s) of shares (follow-on), together with NSP Investimentos S.A. – In Judicial Recovery (company controlled by Novonor S.A. – In Judicial Recovery), called Offer.

As disclosed on 9 August 2021, Petrobras has engaged JP Morgan for financial advisory regarding its stake in Braskem. The hiring of financial advisors does not constitute material information, considering the company’s internal rules and applicable legislation.

Petrobras expects the Offer to take place by February 2022.

The schedule and conditions of the Offer are subject to the approval of Petrobras’ internal bodies, notably regarding the price and effective percentage of the shares to be offered, as well as the analysis and approval of the respective regulatory bodies, under the terms of the applicable legislation.