Petróleo Brasileiro S.A. - Petrobras, following up on the press release disclosed on September 29, 2020, informs the beginning of the binding phase regarding the sale of the totality of its stakes in a set of four onshore field concessions, with integrated facilities, jointly named North Capixaba Cluster, located in the state of Espírito Santo.

Potential buyers qualified for this phase will receive a process letter with detailed instructions on the divestment process, including guidelines for due diligence and the submission of binding proposals.

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 transaction is aligned with the portfolio optimization strategy and with the improvement of the company's capital allocation, increasingly concentrating its resources on world-class assets in deep and ultra-deep waters, where Petrobras has shown great competitive edge over the years.

About North Capixaba Cluster

The Cluster currently comprises four fields: Cancã, Fazenda Alegre, Fazenda São Rafael and Fazenda Santa Luzia. The North 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.

In 2020, the average production of the North Capixaba Cluster was 7.02 thousand barrels of oil per day and 60.4 thousand m3/day of gas. Petrobras is the operator of these fields and holds 100% stake.

About Petrobras

Petrobras has upwards of 100 production platforms, 16 refineries, 30,000 kilometers of pipelines and more than 6,000 service stations. Our proved reserves are around 14 billion barrels of oil, a figure expected to double in the next few years. With the discovery of oil and gas in the pre-salt region, Brazil may become the world's fourth biggest oil producer in 2030.

We have built a track record of overcoming challenges since 1953, when the company was created. The main one was developing technology to explore and produce oil in deep and ultra-deep waters, where upwards of 90% of our reserves are nestled. With innovation and daringness, we are now the Brazilian company that makes the applies for the most patents in Brazil and abroad.