Petrobras: on the sale of E&P assets in the Esprito Santo basin 23 June 2022

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Petrobras on the sale of E&P assets in the Espírito Santo basin

Rio de Janeiro, June 23, 2022 – Petróleo Brasileiro SA – Petrobras, following the press release published on 06/14/2022, informs that its management board, during a meeting held today, approved the sale of all of its participation in the maritime sector groups of concessions named Golfinho Cluster and Camarupim Cluster, in deep post-saline waters, located in the Espírito Santo basin, to the company BW Energy Maromba do Brasil Ltda (BWE). The signing of the sale and purchase agreement and subsequent steps will be disclosed to the market in due course.

The total amount of the sale amounts to US$75 million, being (a) US$3 million paid at the date of the signing of the sale and purchase agreements, (b) US$12 million at pay upon closing of the transaction, and (c) up to $60 million in contingent payments, depending on future Brent prices and asset development.

The amounts do not take into account the adjustments due until the closing of the transaction, which is subject to the fulfillment of certain conditions precedent, such as the approval by the Administrative Council for Economic Defense (CADE) and the National Agency for petroleum, natural gas and biofuels (ANP ).

This disclosure is in accordance with the internal rules of Petrobras and the provisions of the special procedure for the transfer of the rights of exploration, development and production of petroleum, natural gas and other fluid hydrocarbons, provided for in Decree 9.355/2018.

This transaction is part of the company’s portfolio management and capital allocation improvement strategy, aimed at maximizing value and better return for the company.

About the Golfinho and Camarupim cluster

Golfinho Cluster is located in water depths between 1,300m and 2,200m, comprising the Golfinho field, an oil producer, and the Canapu field, a non-associated gas producer, and the exploration block BM- ES-23.

The Camarupim cluster is located at water depths between 100 m and 1,050 m, comprising the unitized Camarupim and Camarupim Norte fields, both of non-associated gas.

www.petrobras.com.br/ri

For more information:

PETRÓLEO BRASILEIRO SA – PETROBRAS | Investor Relations Email: [email protected]/[email protected] Av. Henrique Valadares, 28 – 19th floor – 20031-030 – Rio de Janeiro, RJ. Such. : 0800-282-1540

This document may contain forecasts within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Trading Act of 1934, as amended (the Trading Act) which reflect the expectations of the Company’s managers. . The terms “plans”, “believes”, “expects”, “predicts”, “intends”, “plans”, “projects”, “aims”, “should” and other similar terms, refer to identify such forecasts, which manifestly involve risks or uncertainties, whether or not foreseen by the Company. Accordingly, the future results of the Company’s operations may differ from current expectations, and the reader should not rely solely on the information contained herein.

Petrobras holds a 100% interest in the Golfinho and Camarupim Clusters concession groups, with the exception of the exploration block BM-ES-23, in which it holds a majority interest of 65%, in partnership with PTTEP (20% ) and INPEX (15%). Petrobras is the operator of all the concessions.

The average total production of the Golfinho field from January to May 2022 was 8.6 thousand bpd of oil and 90 thousand m3/day of gas. JThe other zones are not in production.

About BWE

BWE is a wholly owned subsidiary of BW Energy Ltd., an E&P company focused on low-risk oil reservoirs for phased development and with access to existing production facilities.

www.petrobras.com.br/ri

For more information:

PETRÓLEO BRASILEIRO SA – PETROBRAS | Investor Relations Email: [email protected]/[email protected] Av. Henrique Valadares, 28 – 19th floor – 20031-030 – Rio de Janeiro, RJ. Such. : 0800-282-1540

This document may contain forecasts within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Trading Act of 1934, as amended (the Trading Act) which reflect the expectations of the Company’s managers. . The terms “plans”, “believes”, “expects”, “predicts”, “intends”, “plans”, “projects”, “aims”, “should” and other similar terms, refer to identify such forecasts, which manifestly involve risks or uncertainties, whether or not foreseen by the Company. Accordingly, the future results of the Company’s operations may differ from current expectations, and the reader should not rely solely on the information contained herein.

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