Petrobras has declared its support for the Task Force for Climate-related Financial Disclosures - TCFD (Task Force on Climate-Related Financial Disclosures), an initiative of the Financial Stability Board of the G20, a group formed by the 19 main economies of the world plus the European Union, with the mission of developing recommendations for the disclosure of financial risks related to climate change.

Petrobras' vision related to climate change is based on three pillars: transparency, resilience to the energy transition of our position in oil and gas and strengthening of our competencies aligned with the low carbon economy. Our priority is to operate at low costs and with low emissions, delivering affordable and adherent energy to our carbon emission reduction commitments.

Reconciling society's demand for oil and gas with concerns about climate change is an ethical requirement for the company, included in the strategy, safety, environment, health and social responsibility policies. It is also a business need, in line with stakeholder expectations.

In parallel to the support to the TCFD, Petrobras is making the updated Climate Book available on its website, a document that has become a reference for investors specializing in Environmental, Social, and Governance - ESG (Environmental, Social and Corporate Governance Performance Factors), in order to deepen and provide transparency to the company's sustainability information in the face of the energy transition to a low carbon economy.

In the update of the Climate Change Booklet, Petrobras reaffirms its sustainability commitments in the horizon until 2025, of which six are related to the decarbonization of its operations, such as the zero growth of absolute operational emissions in the coming years. In the last decade, actions related to carbon intensity in the upstream activities (exploration and production) provided an increase of about 40% in the production of oil and gas without increasing the absolute emissions in this area.

The document presents a new chapter, dedicated to demonstrating the resilience of the Petrobras portfolio in the face of volatility in oil prices in the energy transition, adopting metrics that consider the evaluation of possible future scenarios. The comparison with the external scenario meets the TCFD recommendations. Petrobras adopts as reference the Scenarios of the International Energy Agency in WEO 2019 - World Energy Outlook (World Energy Outlook), notably the Sustainable Development Scenario - SDS - Sustainable Development Scenario, which establishes a vision about the transformation of energy systems in line with the objectives of the Paris Agreement, in addition to the so-called Stated Policies Scenario - STEPS (Scenario of Declared Policies).

The Climate Change Notebook is available here:  petrobr.as/clima