Petrobras informs that the Company's Board of Directors, at a meeting held on February 22nd, approved the sale of its total interest (100%) in a set of 4 concessions of onshore production fields, with integrated facilities, located in the state of Espírito Santo - ES, jointly called Norte Capixaba Cluster, to the company Seacrest Petróleo SPE Norte Capixaba Ltda., a wholly owned subsidiary of Seacrest Exploração e Produção de Petróleo Ltda. The signing of the sale and purchase agreement and the subsequent steps will be disclosed to the market in due course.

The total amount of the sale is up to US$ 544 million, with (a) US$ 35.85 million paid on the date the contract is signed; (b) US$ 442.15 million at the closing of the transaction and (c) up to US$ 66 million in contingent payments provided for in contracts, depending on future Brent quotations. The amounts do not consider adjustments due by the closing of the transaction, which is subject to compliance with certain conditions precedent, such as approval by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

This disclosure complies with the Petrobras' internal rules and with the provisions of the special procedure for assignment of rights to exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018.

This operation is aligned with the portfolio management strategy and the improved allocation of the company's capital, aiming to maximize value and greater return to society. Petrobras is increasingly concentrating its resources on deep and ultradeep water assets, where it has shown great competitive edge over the years, producing better quality oil and with lower greenhouse gas emissions.

About Norte Capixaba Cluster 

The Norte Capixaba Cluster comprises four onshore fields: Cancã, Fazenda Alegre, Fazenda São Rafael and Fazenda Santa Luzia. The Norte Capixaba Terminal and all the production facilities contained in the ring fence of the concessions are also part of the Cluster, besides the ownership of some lands.

The average production of the Norte Capixaba cluster in 2021 was approximately 6.5 thousand barrels of oil per day (bpd) and 52.2 thousand m³/day of natural gas. Petrobras is the operator of these fields, with a 100 % stake.

About Seacrest Petróleo SPE Norte Capixaba Ltda. 

Seacrest Petróleo SPE Norte Capixaba Ltda. is a company focused on the redevelopment of mature and producing fields, controlled by Seacrest Exploração e Produção de Petróleo Ltda., a closed capital company, which has, among its main investors, the Seacrest Group.