Petrobras, following up on the release disclosed on November 19, 2020, informs the beginning of the binding phase regarding the sale of all of its stakes in a set of 11 onshore production field concessions, with integrated facilities, located in the state of Sergipe, jointly called the Carmópolis Cluster.

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

About Carmópolis Cluster

The Carmópolis Cluster comprises 11 onshore production concessions, located in different municipalities in the state of Sergipe, and includes access to infrastructure for processing, offloading, storage and transportation of oil and natural gas.

The Atalaia Cluster, which contains, among other assets, the Aracaju Waterway Terminal (Tecarmo) and the Bonsucesso-Atalaia Oil Pipeline, which flows the oil production from the concessions to Tecarmo are also part of the Carmópolis Cluster.

In the year 2020, the average production of the Carmópolis Cluster was around 10,000 barrels of oil per day and 67,000 m3/day of gas. Petrobras is the operator in these fields, with 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.