(Petrobras, 1.Mar.2023) — Petrobras informs that its Board of Directors, at a meeting held today, authorized, by a majority vote, the submission to the General Shareholders’ Meeting, scheduled for 27 April 2023, the proposal for distribution of dividends equivalent to R$ 2.74573369 per outstanding preferred and common share.
The proposed dividends are in line with the Shareholder Remuneration Policy (Policy) and are compatible with the company’s financial sustainability in the short, medium, and long terms.
The Executive Board, by a majority vote, proposed to the Board of Directors the payment of dividends in two equal installments in the months of May and June, as follows:
Amount to be paid: R$ 2.74573369 per common and preferred share outstanding, whereby:
(i) the first installment, in the amount of R$ 1.37286685 per outstanding preferred and common share, will be paid on 19 May 2023.
(ii) the second installment, in the amount of R$ 1.37286684 per preferred and common share, will be paid on 16 June 2023.
The Board of Directors approved, by a majority vote, the proposal of the Executive Board, however, since the proposed amount exceeds the application of the formula provided in item 4.2 of the Policy by R$ 0.49806828 per common and preferred share in the quarter, the Board of Directors suggested, by a majority vote, that the company’s shareholders evaluate the creation of a Statutory Reserve (Reserve), in the form of the law, to retain up to R$ 0.49806828 per common and preferred share of the result of fiscal year 2022.
If shareholders do not accept the Board of Directors’ suggestion to create the Reserve, or, if the entire balance is not retained, the Board of Directors, by a majority vote, recommended to shareholders that the payment of this R$ 0.49806828 per common and preferred share or the remaining balance should be made on 27 December 2023, adjusted by the SELIC rate and deducted from the amount of the second installment of dividends.
In the case of that the dividend distribution proposal is approved at the General Shareholders’ Meeting without the retention of reserves and without any postponement suggested by the Board of Directors to the shareholders, the dividends will be paid in two equal installments in the months of May and June, as described above.
Record date: 27 April 2023 for holders of Petrobras shares traded on B3 and 1 May 2023 for ADR holders traded on the New York Stock Exchange (NYSE). Petrobras shares will be traded ex-dividend on B3 and the NYSE as of 28 April 2023.
Payment date: For holders of Petrobras shares traded on B3, first payment will be made on 19 May 2023 and second payment will be made on 16 June 2023. ADR holders will receive payments starting on 26 May 2023 and 23 June 2023, respectively.
Form of distribution: The two payment installments will be made in the form of dividends.
These installment amounts will be adjusted by the SELIC rate from 31 December 2022 until the date of payment of each installment.
It is important to point out that these proceeds will be deducted from the dividends to be approved at the 2023 Annual Shareholders’ Meeting for the year 2022.
Petrobras’ Shareholder Remuneration Policy can be accessed on the company’s website (https://www.investidorpetrobras.com.br/en/).