RIO DE JANEIRO, BRAZIL (By Brava Energia, 24.Jul.2026, Words: 583) — Brava Energia SA hereby provides, in response to Official Letter (Ofício) No. 229/2026/CVM/SEP/GEA-1, sent to the company on 23 Jul. 2026 (the “Official Letter”), clarifications regarding a news article published by the media outlet DeFato.com, Economics section, on 23 Jul. 2026.
In response to the Official Letter, the company clarifies that the references to well drilling in the onshore operating segment contained in the referenced news article are intended solely to indicate activities inherent to the normal course of its business (business as usual), and do not represent a new strategic decision, a change in investment plans, or any fact capable of materially influencing the assessment of the company or its securities.
The company further notes that the campaign mentioned in the article represents only a potential operational execution capacity and, even if fully implemented, would not be capable of producing a material impact on its financial or operating results.
By way of illustration, the approximately 100 wells mentioned correspond to approximately 3% of the universe of more than 3,000 onshore wells currently operated by the company and represent a small portion of its consolidated operating activity, which is predominantly concentrated in offshore assets. Accordingly, the disclosed information does not carry sufficient materiality to characterize a material fact or to warrant specific disclosure to the market.
Additionally, the references contained in the article do not constitute guidance or a performance projection. They merely indicate a potential operational capacity, without any commitment as to actual execution, timeline, investments, production volumes, or future economic impacts. The company, moreover, does not adopt a policy of disclosing formal projections (guidance), as reflected in its Reference Form.
Furthermore, such information reflects only a potential execution capacity, which should not be confused with earnings projections or with the practice of guidance. The company notes that it does not adopt a policy of disclosing formal performance projections and therefore does not disclose guidance in its reference form.
Accordingly, the figures reported in the news article do not represent the announcement of a new resolution, but rather a consolidation of information and projects that are customary to this operating segment of Brava and already known to the market. The reference to such investments is more akin to a reiteration of information than to the disclosure of new information regarding future performance expectations.
As explained in a CVM precedent (Administrative Sanctioning Proceeding – PAS CVM No. 19957.011190/2019-38, judged in 2020), the specific regime imposed on the disclosure of corporate projections is justified by the sensitive nature of such information. Its function “is precisely to assist the investor in making a decision to buy or sell an asset. As is well known, projections have, by their very nature, the potential to influence an investment decision. For this reason, when a company decides to disclose its projections, the CVM requires certain precautions in their disclosure, particularly with regard to the assumptions underlying them.”
However, as explained above, this is not new information that adds materiality to the assessment made by investors regarding the company’s securities.
Additionally, with respect to the mention of environmental licenses issued by the Institute for Sustainable Development and the Environment (IDEMA-RN), Brava notes that the licenses referenced in the article in question do not pertain to assets owned by the company.
Lastly, the company reaffirms its commitment to keeping its investors and the market at large duly informed, in line with best corporate governance practices and in strict compliance with applicable legislation
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