Petrobras informs that it was notified by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) on the approval of the Production Individualization Agreement of Atapu and Sépia accumulations, located in the Santos Basin.

The Agreement is celebrated in situations where the reservoirs extend beyond the areas granted or contracted, according to ANP regulations.

With the approval by ANP, the Atapu and Sépia Agreements became effective as of September 1, 2019.

The Atapu Joint Reservoir comprises:

• Transfer of Rights Agreement BM-S-11A (Oeste de Atapu Field), operated by Petrobras (42.5%), in partnership with Shell (25%), Total (22.5%) and Petrogal Brasil (10%);

• the Entorno de Iara Block of the Transfer of Rights Agreement (Atapu field), operated by Petrobras, which holds a 100% interest; and

• the Non-Contracted Area belongs to the Federal Union, represented by Pre-Sal Petróleo - PPSA in the PIA, as provided for in Law 12351/2010.

The shares of each party in the Atapu joint reservoir are:

The Sépia Joint Reservoir comprises:

• the Transfer of Rights Agreement BM-S-24 (Sépia Leste Field), operated by Petrobras (80%), in partnership with Petrogal Brasil (20%); and

• the Nordeste de Tupi Block of the Transfer of Rights Agreement (Sépia field), operated by Petrobras, which holds a 100% stake.

The shares of each party in the Sépia joint reservoir are:

Both agreements sets out the interests of each party and the rules for the joint execution of production development and oil and natural gas production in the joint reservoir.

As a result of the process of the production individualization of the two accumulations, it will be necessary an equalization between the expenses incurred and the revenue obtained with the volumes produced up to the effective date of the Agreement.