Petrobras informs that it has concluded the final round of the binding phase of the sale process of the Landulpho Alves Refinery (RLAM) and its associated logistics assets, in Bahia, in which Mubadala Capital presented the best final offer in an amount of US$ 1.65 billion. The signing of the purchase and sale agreement is still subject to the approval of the relevant corporate bodies.

Petrobras also informs that it has received binding proposals for the sale of the Presidente Getúlio Vargas Refinery (REPAR), in Paraná, but decided to close the process, since the conditions of the presented proposals fell short of Petrobras' economic-financial evaluation. Thus, the company will start a new competitive process for this refinery in due time.

The competitive processes for the sale of the Alberto Pasqualini Refinery (REFAP), in Rio Grande do Sul, Isaac Sabbá Refinery (REMAN), in Amazonas, Abreu e Lima Refinery (RNEST), in Pernambuco, Gabriel Passos Refinery (REGAP), in Minas Gerais, Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR), in Ceará, and Unidade de Industrialização do Xisto (SIX), in Paraná, are still in progress aiming at the signing of the purchase and sale agreements.

Petrobras reinforces its commitment with a wide transparency of its divestment projects and management of its portfolio and informs that the subsequent steps will be disclosed to the market in accordance with the company's Divestment Guidelines and the Decree 9,188/2017.

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 Mubadala

Mubadala Investment Company — a sovereign investor — manages a diverse portfolio of assets and investments in the United Arab Emirates and abroad, to generate sustainable financial returns for its shareholder, the Government of Abu Dhabi.