Conference Call Presentation 3Q21

November 11, 2021

3Q21 Results Presentation

Disclaimer

This document contains certain statements and information relating to the Company that reflect current vision and/or expectation of the Company and its management concerning its activities Certain statements and information are based on estimates, projections, they indicate or imply results, performance or future achievements, and may contain words, such

as "believe", "estimate", "expect", "envisage", "probably will result" or other similar words

or expressions. These statements are subject to various risks, uncertainties and assumptions.

We warn that several relevant factors may cause actual results to significantly differ from plans, objectives, expectations, estimates and intentions expressed herein, so that we cannot guarantee that projections or conclusions mentioned herein will occur and/or be materialized. Under no circumstances shall the Company or its board members, officers, representatives or employees be liable towards any third party (including investors) for decision or acts of investment or business made based on information and statements contained herein, nor for indirect damages, loss of profit or similar event.

The Company does not intend to provide shareholders with a review of statements or analysis of differences between statements and actual results. We advise investors to analyze in detail Enauta's offering memorandum, including the risk factors identified therein. This presentation does not contain all the information required for a complete evaluation of investments in the Company. Each investor should make their own evaluation, including related risks, in their investment-related decision.

Robust operational and financial performance at the start of 2H21

Effective

ESG performance

Variable Compensation Plan

for Mgmt includes ESG targets ESG

People and Human Rights Policy

Bolstering Corporate

Governance with

convening of Audit

Committee

OSX-2:project tailored for lower

carbon emissions

Production and asset

gains

Total production of

1.99 million boe in the quarter: milestone of +19 million barrels produced in Atlanta in October

SD: MoU with Yinson for negotiation of FPSO contracts

4Q21: drilling expected to start in the exploration well in SEAL

Capacity to

deliver growth

Liquidity reinforced by a solid

cash position of R$ 2.4 billion

Recognition of all of Atlanta's results

Net income of R$ 134 million

Active portfolio

management

Proactive analysis of acquisition opportunities

Higher oil prices

Pursuit of operational efficiency gains

ENAUTA 3Q21 EARNINGS PRESENTATION

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Historic high in Brent prices and foreign exchange rates drive 3Q21 results and optimism moving forward

Sales Average Brent vs. Discount

Average Exchange Rate

Brent USD/Barrel

USD 4.5/bbl

44

77

USD 0.9/bbl

5.38	5.40	5.47

5.29	5.23

3Q20		4Q20	1Q21	2Q21	3Q21
		Varation in relation to Brent			Brent

3Q20

4Q20

1Q21

2Q21

3Q21

Booming commodity prices and higher exchange rates generated record revenue for Enauta in 3Q21

ENAUTA 3Q21 EARNINGS PRESENTATION

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Atlanta: 3Q21 includes all of the asset's results

Strong growth in revenue due to booming commodity prices and higher Brent prices

kboe/d

Atlanta Production (Net Enauta)

+87.1%

				13.1
7.0	3.5		7.3
	2.2
3Q20	4Q20	1Q21	2Q21	3Q21

R$ million

Atlanta Revenue (Net Enauta)

+234.1%

				472.7
141.5			216.7
76.8	56.7
3Q20	4Q20	1Q21	2Q21	3Q21

Enauta's larger interest in the Atlanta Field in 3Q21 triggered an increase of nearly 90% in production in the annual comparison

ENAUTA 3Q21 EARNINGS PRESENTATION

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