Petrobras in reference to the communiqué released on 6/1/2020, on the sale of part of its stake in the exploration blocks belonging to the ES-M-596_R11, ES-M-598_R11, ES-M-671_R11, ES-M- 673_R11 and ES-M743_R11, located in the Espírito Santo Basin, come to disclose to interested parties that the deadline for companies to express their interest in the opportunity is being extended to 06/18/2020, remaining the other provisions of the document unchanged.

Due to the change described above, the teaser available on the Petrobras website (https://investidorpetrobras.com.br/pt/resultados e comunicados/teasers) was modified to take into account the new term.

There is no need to send a new expression of interest if the participant has already submitted its expression.

The main subsequent stages of the project will be informed to the market in due course.

This disclosure is in accordance with Petrobras' divestment guidelines and with the provisions of the special procedure for assigning rights to explore, develop and produce oil, natural gas and other fluid hydrocarbons, provided for in Decree 9.355 / 2018.

This operation is in line with the optimization of the portfolio and the better allocation of the company's capital, aiming at maximizing value for its shareholders.

About concessions 

The ES-M-596_R11, ES-M-598_R11, ES-M-671_R11, ES-M-673_R11 and ES-M-743_R11 concessions were acquired in the 11th ANP Bidding Round in 2013 and are currently in the 1st Exploratory Period.

The assignment to Petrobras of Equinor's shares (with the consequent transfer of the operation) and Total, was dealt with in the scope of administrative proceedings by the Administrative Council for Economic Defense

(CADE), which approved the operation for each of the five concessions, in a final and unappealable decision.

The lawsuit before the National Agency for Petroleum, Natural Gas and Biofuels (ANP) remains pending, which is expected to be concluded in the second half of 2020.

The table below contains a summary of the concessions with the expected participation of Petrobras, after the conclusion of the proceedings before the ANP, and the total percentage of divestment.

The concessions are strategically positioned in relation to the post-salt discoveries, in areas known as Parque dos Deuses, Parque dos Doces and Parque dos Cachorros, in the Espírito Santo Basin, with the potential to prove significant volumes and establish a position in a new exploratory frontier both pre-salt and post-salt.

Offers must be made by concession, subject to the possible exercise of the right of first refusal by the partners and other necessary approvals, as applicable.