Petrobras: Binding Phase Underway for UFN-III Divestment

(Petrobras, 29.Aug.2022) — Petrobras, following up on the release disclosed on 31 May 2022, informs that the binding phase concerning the full sale of the Nitrogen Fertilizer Unit III (UFN-III) is underway.

Potential buyers qualified for this phase, in accordance with the criteria published in the teaser, received a process letter with detailed instructions on the divestment process, including guidelines for conducting due diligence and for sending binding bids.

This operation is aligned with the portfolio management strategy and the improvement of the company’s capital allocation, aiming at the maximization of value and greater return to society, and is carried out in accordance with Petrobras’ internal rules and with the special regime for divestment of assets by federal mixed economy companies, provided for in Decree 9,188/2017.

About UFN III

UFN-III is a nitrogen fertilizer industrial unit located in Três Lagoas, in the state of Mato Grosso do Sul. The construction of UFN-III started in September 2011, but was interrupted in December 2014, with physical progress of about 81%. When completed, the unit will have a projected urea and ammonia production capacity of 3,600 t/day and 2,200 t/day, respectively.

____________________