Petrobras, following up on the release disclosed on 06/23/2022, informs that it signed with BW Energy Maromba do Brasil Ltda (BWE), the contracts for the sale of its total stake in the maritime concessions groups named Golfinho Cluster and Camarupim Cluster, in the post-salt deep waters, located in the Espírito Santo Basin.

The total amount of the sale is up to US$ 75 million, being (a) US$ 3 million paid on today´s date, (b) US$ 12 million to be paid at the closing of the transaction, and (c) up to US$ 60 million in contingent payments, depending on future Brent prices and asset development.

The amounts do not consider adjustments due until the closing of the transaction, which is subject to compliance with certain precedent conditions, such as the approval by the Administrative Council for Economic Defense (CADE) and National Agency of Petroleum, Natural Gas and Biofuels (ANP).

This disclosure is in accordance with Petrobras' internal rules and the provisions of the special procedure for the assignment of rights of 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 a greater return to society.

About Golfinho and Camarupim Cluster

Golfinho Cluster is located in water depths between 1,300 m and 2,200 m, comprising the Golfinho field, an oil producer, and the Canapu field, a non-associated gas producer, and the exploration block BM-ES-23.

The Camarupim Cluster is located in water depths between 100 m and 1,050 m, comprising the unitized Camarupim and Camarupim Norte fields, both of non-associated gas.

Petrobras holds a 100% stake in the Golfinho and Camarupim Clusters concession groups, except for exploratory block BM-ES-23, in which it holds a 65% majority stake, in partnership with PTTEP (20%) and INPEX (15%). Petrobras is the operator in all the concessions.

The average total production of the Golfinho field from January to May 2022 was 8.6 thousand bpd of oil and 90 thousand m3/day of gas. The other areas are not in production.

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.

About BW Energy

BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing FPSOs to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The main assets are 73.5% of the producing Dussafu Marine Permit offshore Gabon and a 95% interest in the Maromba field in Brazil, both operated by the Company. Total net 2P+2C reserves were 240 million barrels at the start of 2022.
BWE is a wholly-owned subsidiary of BW Energy Ltd., an E&P company focused on low-risk oil reservoirs for development in phases and with access to existing production facilities.