Petrobras, following up on the releases disclosed on 11/22/2016 and 03/21/2018, informs that it will receive from Equinor Brasil Energia Ltda. (Equinor) the last contingent installment in the amount of US$ 950 million related to the sale of its stake in the exploratory block BM-S-8, where the Bacalhau field (former Carcará area) is located.

Petrobras sold its total stake (equivalent to 66%) in block BM-S-08 to Equinor for US$ 2.5 billion, with the first installment of US$ 1.25 billion received at the closing of the transaction on 11/22/2016, and the second installment of US$ 300 million received on 03/21/2018.

The receipt of the last installment was conditioned to the approval of the Production Individualization Agreement (AIP) of the Bacalhau and Norte de Bacalhau fields by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). The AIP was submitted by Equinor on 01/29/2021 and approved today at the ANP's executive board meeting with public transmission. Payment of the contingent installment should occur within 45 business days after approval. This installment will be recognized in the financial statements for the 4th quarter of 2021.

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 Equinor

Equinor (OSE:EQNR, NYSE:EQNR), is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re the largest operator in Norway, among the world’s largest offshore operators, and a growing force in renewables. Driven by our Nordic urge to explore beyond the horizon, and our dedication to safety, equality and sustainability, we’re building a global business on our values and the energy needs of the future.