Petrobras Updates on Asset Divestments

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(Petrobras, 4.Sep.2023) — Petrobras, following up on the releases disclosed on 03/01/2023, 03/17/2023, 03/29/2023 and 04/03/2023, informs that its Executive Board, based on the new strategic elements approved by the Board of Directors, has adopted the following decisions regarding the respective divestment processes that had not yet reached the stage of signature of the sales contracts:

In the E&P segment:

The company must”maximize the value of the portfolio with a focus on profitable assets, restoring oil and gas reserves, including by exploring new frontiers, increasing the supply of natural gas and promoting the decarbonization of operations.”

Therefore, considering their strategic adherence to the portfolio, as well as their profitability profile, Petrobras announces the termination of the divestment processes for Urucu Cluster, Bahia Terra Cluster, Manati Field and Petrobras Operaciones S.A. (Petrobras’ subsidiary in Argentina).

As for the other assets, their permanence in the portfolio will be periodically reassessed based on updated assumptions of profitability, strategic adherence, decarbonization opportunities and the stage of their productive life. Those whose divestment is approved by the Board of Directors will be communicated to the market in due course.

In the G&P segment:

Continue with the divestment processes relating to (i) the 20% stake in Brasympe, owner of the Termocabo thermoelectric unit (UTE), powered by fuel oil (ii) the 20% stake in UTE Suape II, also powered by fuel oil, and (iii) the 18.8% stake in UEG Araucária S.A.

These decisions are the result of a process of active management of Petrobras’ portfolio, through which the various assets are constantly evaluated in line with the company’s most current strategic guidelines.

This disclosure is in accordance with Petrobras’ internal rules and with the special regime for the divestment of assets by federal mixed-capital companies, provided for in Decree 9.188/2017.


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