Petrobras, following up on the release disclosed on 01/19/2021, informs that it has finalized without success the negotiations with Ultrapar Participações S.A. (Ultrapar) for the sale of Alberto Pasqualini Refinery (REFAP), in Rio Grande do Sul.

Despite the efforts made by both companies in this process, certain critical conditions were not met for an agreement and the decision was made to close the negotiations in progress, with no penalties for either party.

As a result, Petrobras will timely start a new competitive process for this refinery.

The competitive processes for the sale of the Gabriel Passos Refinery (REGAP), in Minas Gerais, Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR), in Ceará, and the Unidade de Industrialização do Xisto (SIX), in Paraná, are still underway aiming for the signing of the purchase and sale agreements. The Landulpho Alves (RLAM) and Isaac Sabbá (REMAN) refineries have already had their purchase and sale agreements signed.

Petrobras reinforces its commitment to comprehensive transparency of its divestment projects and portfolio management and informs that the subsequent stages of the projects in progress will be disclosed to the market.

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.