Petro Rio S A : MATERIAL FACT - STOCK SPLIT

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petroriosa.com.br

Praia de Botafogo, 370 • 13º andar Botafogo • 22250-040 • Rio de Janeiro/RJ

MATERIAL FACT

STOCK SPLIT

Rio de Janeiro, April 30, 2021 - Petro Rio S.A. ("Company" or "PetroRio") (B3 ticker: PRIO3) in accordance with CVM Instructionº 358/2002, announces to its shareholders and the market that the Board Meeting held on April 30, 2021 has approved a 5-for-1 stock split of Company shares, so that each share will be represented by 5 (five) shares.

702,664,676 new common shares will be issued, and capital stock will remain at R$ 5,526,451,830.79, divided into 878,330,845 common shares.

Considering that each share issued by the Company is split into 5 (five) shares, there will not remain fractions of shares. Newly issued shares will have the same rights and characteristics as shares currently in existence, sharing in all benefits proportionally, including dividends and eventual capital income that might be approved.

The split shares ("ex-split") will begin trading on May 6, 2021.

As bookkeeper, Banco do Brasil will credit the split shares on May 11, 2021.

The purpose of this stock split is to increase liquidity and to enable an adjustment in the share price, making the price per share more accessible to a greater number of investors.

About PetroRio

PetroRio is one of the largest independent companies in the oil and gas production in Brazil. The Company´s corporate culture seeks to increase production through the acquisition of new production assets, the re-exploration of assets, increased operational efficiency and reduction of production costs and corporate expenses. PetroRio's main objective is to create value for its shareholders with growing financial discipline and preserving its liquidity, with full respect for safety and the environment. For further information, please visit the Company's website: www.petroriosa.com.br.

Disclaimer

This news release contains forward-looking statements. All statements other than statements of historical fact contained in this news release are forward-looking statements, including, without limitation, statements regarding our drilling and seismic plans, operating costs, acquisitions of equipment, expectations of finding oil, the quality of oil we expect to produce and our other plans and objectives. Readers can identify many of these statements by looking for words such as "expects", "believe", "hope" and "will" and similar words or the negative thereof. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. By their nature, forward-looking statements require us to make assumptions and, accordingly, forward-looking statements are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements because a number of factors may cause actual future circumstances, results, conditions, actions or events to differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements and the assumptions underlying the forward-looking statements.

Praia de Botafogo, 370 • 13º andar • Botafogo • 22250-040 • Rio de Janeiro/RJ

[phone]

petroriosa.com.br