Petrobras on Shareholder Remuneration Policy, Gross Debt

(Petrobras, 27.Nov.2022) — Petrobras, regarding the news in the media about the Shareholder Remuneration Policy, approved by the Board of Directors in 2019 and improved in 2020 and 2021, clarifies that the payment of extraordinary dividends is provided for in the Policy. 

In addition, the company does not take on debt to pay dividends. The company’s debt is on a decreasing trajectory, with a reduction of US$5.3bn from 3Q21. As of 30 September 2022, the company’s gross debt was $54.3bn, including commitments related to leases, lower than the optimum gross debt level of $60bn and the limit established in the Policy of $65bn.

It is also important to note that the gross debt, the cash level and the dividends are aligned with what was planned in Petrobras’ Strategic Plan 2022-2026. The Strategic Plan is self-financing and all the investments planned are being made. There is no damming of projects due to budget restrictions and all commitments are being met.

Finally, the company reiterates its commitment to the practice of competitive prices and in balance with the market, while avoiding the immediate pass-through of external and exchange rate volatility caused by circumstantial events.