Petrobras on Obligation Breach at Carmópolis Cluster

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(Petrobras, 26.Dec.2023) — Petrobras, following up on the material fact disclosed on 20 Dec. 2022, informs of the non-compliance with the contractual payment obligation of Carmo Energy and its parent company COBRA INSTALACIONES Y SERVICIOS, S.A., as guarantor, related to the sale of all of its stakes in the set of 11 onshore oil and gas production field concessions, with integrated facilities, located in the state of Sergipe, jointly called Carmópolis Cluster.

The value of the sale was $1.1bn, of which:

(i) $275mn was paid as a down payment;

(ii) $548mn was paid on 20 Dec., the closing date of the transaction considering the required adjustments; and

(iii) $296mn should have been paid on 20 Dec., already considering the required adjustments.

Petrobras will adopt the appropriate contractual and legal measures to collect the due amounts.

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