Petrobras reaffirms that the total value of the sale of 50% of exploration and production rights of the Tartaruga Verde field (concession BM-C-36) and Module III of the Espadarte field to Petronas Petróleo Brasil Ltda ("Petronas") was US$ 1,293.5 million.

Petrobras received US$ 258.7 million as deposit on the signature date, 04/25/2019, and US$ 691.9 million on the closing date, 12/27/2019, the latter portion having been adjusted according to the profit earned of about US$ 343 million by Petrobras in the period between 01/01/2019 and 12/27/2019.

The profit in this period, referring to the 50% interest object of the transaction, is Petronas' economic benefit, since the base date of the transaction was 01/01/2019 and marks the beginning of the cash flow considered for the economic evaluation of the asset and for the preparation of the purchase proposal by Petronas. This type of price adjustment is a common practice on merger and acquisition transactions.

The Tartaruga Verde field started its production on 06/22/2018, and the average production in 2019 (until 11/30/19) was about 93.9 thousand bpd of oil and 1.0 million m3/day of gas.