Rio de Janeiro - Petroleo Brasileiro S.A. Petrobras, following up on the releases disclosed on 07/27/2020 and 08/11/2020, informs the beginning of the binding phase regarding the sale of its entire stake in the exploratory portion of the Tayrona Block, located in the Guajira Basin, Colombia.

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 Petrobras internal rules and is aligned with the provisions of the special procedure for assignment of rights on exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018.

This transaction is in line with the strategy of portfolio optimization and improvement of the company's capital allocation, aiming at generating value for its shareholders.

About Tayrona Block

The Tayrona Block is located on Colombia's northeast coast in the deep waters of the Guajira Basin. Petrobras, which is the operator of the area, holds a 44.44% stake in the concession1 through its affiliate Petrobras International Braspetro B.V. (PIB-BV), in a consortium with Empresa Colombiana de Petroleos S.A. (Ecopetrol), which holds the remaining 55.56%.

The concession is in the phase of the Posterior Exploration Programme 1 (PEP1) with a remaining exploratory commitment of drilling a well, with the potential to prove significant volumes of gas (world class prospects) and establish position in a new frontier area. The area presents similarity with discoveries on the margins of the South Atlantic and Caribbean.

Contact:

Tel: 55 (21) 3224-1510

This document may contain forecasts within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Trading Act of 1934, as amended (Trading Act) that reflect the expectations of the Company's officers. The terms: 'anticipates', 'believes', 'expects', 'predicts', 'intends', 'plans', 'projects', 'aims', 'should,' and similar terms, aim to identify such forecasts, which evidently involve risks or uncertainties, predicted or not by the Company. Therefore, future results of the Company's operations may differ from current expectations, and the reader should not rely solely on the information included herein.

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