(Petrobras, 13.May.2024) — Petrobras informs that its Board of Directors, at a meeting held today, approved the payment of interim dividends and interest on own capital in the amount of R$13.45bn, equivalent to R$ 1.04161205 per outstanding common and preferred share, in anticipation of the remuneration to shareholders for the year 2024, declared based on the balance sheet of 31 Mar. 2024.
The proposed distribution is in line with the current Shareholder Remuneration Policy, which states that, in the event of gross debt equal to or lower than the maximum level of gross debt defined in the current strategic plan (currently $65bn), Petrobras may distribute 45% of free cash flow to its shareholders. This approval is compatible with the company’s financial sustainability. The proposed dividends already take into account the amount of shares repurchased in the first quarter of 2024 (R$1.1bn), which has been deducted from the total remuneration to shareholders calculated in accordance with the Policy’s formula.
Dividends and interest on own capital will be paid in two installments in August and September, as follows:
Amount to be paid: R$1.04161205 per outstanding common and preferred share, whereby:
(i) the first installment, in the amount of R$ 0.52080603 per outstanding common and preferred share, will be paid on 20 Aug. 2024 in the form of interest on own capital.
(ii) the second installment, in the amount of R$ 0.52080602 per outstanding common and preferred share, will be paid on 20 Sep. 2024, of which R$ 0.44736651 in the form of dividends and R$ 0.07343951 in the form of interest on own capital.
Record date: on 11 Jun. for holders of Petrobras shares traded on B3 and on 13 Jun. for holders of ADRs traded on the New York Stock Exchange (NYSE). Petrobras shares will be traded ex-rights on B3 as of 12 Jun..
Payment date: For holders of Petrobras shares traded on B3, the first payment will be made on 20 Aug. and the second payment will be made on 20 Sep. ADR holders will receive payments starting on 27 Aug. and on 27 Sep., respectively.
Updating of the amounts per share: The dividends and interest on own capital are preliminary and may change until the cut-off date as a result of the share buyback program. On the cut-off date, if there is a change in the values per share, Petrobras will communicate the new values to the market.
It is important to note that these payments will be deducted from the remuneration to shareholders to be approved at the 2025 Annual General Meeting for the 2024 fiscal year, and their amounts will be adjusted by the Selic rate from the date of payment of each installment until the end of the current fiscal year for the purposes of calculating the deduction.
The Shareholder Remuneration Policy can be accessed on the company’s website (http://www.petrobras.com.br/ir).
____________________
