Petrobras on Strategic Plan 2024-2028

Instant Max AI

(Petrobras, 7.Aug.2023) — Petrobras, in relation to the news released in the media and as disclosed to the market on 06/01/2023, informs that the Strategic Plan 2024- 2028 will have as a driver, among others, the forecast of low-carbon CAPEX for the range between 6% and 15% of the total CAPEX for the first five years of the new Plan, in compliance with current governance practices, the commitment to value creation and the company’s long-term financial sustainability.

This driver is aligned with the strategic elements that should be included in the plan, allowing the company to (i) act in low-carbon businesses, diversifying the portfolio in a profitable way and promoting the perpetuation of Petrobras; (ii) operate in our businesses in a safe and sustainable manner, seeking decreasing emissions, promoting diversity and social development, contributing to a just energy transition and to the training of sustainability experts; and (iii) seek innovation to generate value for the business, supporting operational excellence and enabling solutions in new energies and decarbonization.

The company reinforces that investments must be financed by operating cash flow, at levels equivalent to peer companies, and preferably through partnerships that allow sharing risks and expertise, and must seek the return on investment, reduction of the cost of capital, strengthening of Petrobras as an integrated energy company, maximizing the value of the company.

It is important to note that any increases in CAPEX in the company’s 2024-28 Strategic Plan must, within the governance established in the company, go through the planning and approval processes provided for in the applicable systems, having their technical and economic feasibility demonstrated.

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