Petrobras reports that on december 27 it made the final payments in the amount of R$ 34.191 billion (thirty four billion one hundred and ninety one million reais), referring to the bidding rounds of the Transfer of Rights surplus, Buzios and Itapú areas, 16th round under Concession Regime, block CM-477, and 6th round under Production Sharing Regime, Aram block, detailed as follows:

(i) R$ 28.720 billion (twenty eight billion, seven hundred and twenty million reais), referring to the second installment of the company's share of the Búzios area signing bonus and the entire Itapu area signing bonus, both acquired in the bidding round for the Transfer of Rights surplus on November 6, 2019. The total amount paid as signature bonus, corresponding to Petrobras' stake in the two assets, was R$ 63.14 billion;

(ii) R$ 1.431 billion (one billion, four hundred and thirty one million reais), referring to block CM-477 acquired in the 16th bidding round of ANP under concession regime;

(iii) R$ 4.040 billion (four billion, forty million reais), referring to the Aram block acquired in the 6th bidding round under Production Sharing Regime.

The next stage of these auctions will be the signing of the Concession and the Production Sharing agreements, scheduled for February and March 2020, respectively.

Petrobras reaffirms that its selective participation in the ANP auctions held in 2019 is in line with the company's long-term strategy, focusing on the exploration and production of world-class deepwater and ultra-deepwater assets and significantly enhances the recomposition of reserves for the company’s future.