OTC 24 - Broken Supply Chains: The quest to implement the world´s largest deepwater production development portfolio

Broken Supply Chains: the quest to implement the World´s

Largest Deepwater Production Development Portfolio

Carlos Travassos - Chief Engineering, Technology and Innovation Officer, Petrobras

Disclaimer

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You must read the following before continuing. The following applies to this document, the oral presentation of the information in this document by Petróleo Brasileiro S.A. - Petrobras (together with its subsidiaries, the "Company") or any person on behalf of the Company, and any question-and- answer session that follows the oral presentation.

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operations with past and future periods. Non-IFRS financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similar measures presented by other companies.

These materials may contain forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange Act of 1934, as amended that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like "believe", "anticipate", "expect",

"envisages", "will likely result", or any other words or

phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation. In no event, neither the Company nor any of its affiliates, directors, officers, agents or employees shall be liable before any third party for any investment or business decision made or action taken in reliance on the information and statements contained in this presentation or for any consequential, special or similar damages.

CAUTIONARY

STATEMENT

We present certain data in this presentation, such as oil and gas resources and reserves, that are not prepared in accordance with the United States Securities and Exchange Commission (SEC) guidelines under Subpart 1200 to Regulation S-K, and are not disclosed in documents filed with the SEC, because such resources and reserves do not qualify as proved, probable or possible reserves under Rule 4-10(a) of Regulation S-X.

A Production System installed in deepwater contains multiple technical challenges of enormous complexity

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TOPSIDE

• FPSO

LOGISTICS

• Aircrafts
• Maritime support vessels

SUBSEA SYSTEM

• PLSVs

• Other vessels
• Flexible lines
• Rigid lines
• Wet Christmas Trees

WELLS

• Rigs

• Materials and services for wells

FLOATING

PRODUCTION STORAGE

AND OFFLOADING

(FPSO)

ANCHOR HANDLING

TUG SUPPLY (AHTS)

TORPEDO STAKE

RIGID PIPELINES

FLOATERS

FLEXIBLE LINES

WET CHRISTMAS TREE

(WCT)

In the last 5 years we have implemented 12 new production systems

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2019

2020

2021

2022

2023

Tupi Norte	Atapu	Sépia 1	Mero 1	Marlim 2
FPSO	FPSO	FPSO	FPSO	FPSO
P-67	P-70	Carioca	Guanabara	Anna Nery
Berbigão			Itapu	Búzios 5
and Sururu			FPSO
		P-71
FPSO P-68			A. Barroso
Búzios 3				Marlim 1
			FPSO
FPSO P-76
			A. Garibaldi
Búzios 4				Mero 2
			FPSO
FPSO P-77
			Sepetiba

A relevant result representing nearly

1,7 Million bpd of installed oil production capacity - around 50% of global capacity added in the period by FPSOs

750 ktons of topside

2.700 Km of lines1

200 wells1

Total scope of the systems presented, including lines to be laid and

wells to be interconnected.

And we have increased the decarbonization of our oil

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PETROBRAS IS AMONG THE MOST CARBON EFFICIENT IN THE WORLD

Results of past technological

•E&P	PRE-SALT FIELDS
•EMISSIONS INTENSITY	CARBON EFFICIENCY

kgCO2e/boe produced

	-53%
30
	14.2	10.2	9.9
2009	2023	Búzios	Tupi

PETROBRAS AVERAGE

2Q 3Q

1Q4Q

PRODUCTION ON THE

PRE-SALT FIELDS

IN THE 1ST QUARTILE IN CARBON INTENSITY IN THE OFFSHORE O&G INDUSTRY

choices

Low flaring and high gas utilization

Gas utilization index 97.6% in 2023

CCUS PROJECT

13 million tons	World's largest
of CO2 reinjected	project operated
in 2023	in 2023

FPSO Project design progress

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		2000	2010	2020	2030+
		PROCESSING CAPACITY (O&G)		<180 kbpd	150 - 180 kbpd	180 - 225 kbpd
			<6 M Nm³/d	7 M Nm³/d	12 M Nm³/d
		CONTAMINANTS	H2S		<70 ppmv	<170 ppmv	200 - 400 ppmv
		CO2		<5%		<60%			<60%
		GAS PRESSURE		<200 bar		<550 bar		>550 bar
		POWER DEMAND		<75 MW		<100 MW		>150 MW
				(+ ~25MW TC¹)
		GHG EMISSION²		<30 kgCO2e/boe		<25 kgCO2e/boe	<15 kgCO2e/boe
		TOPSIDES DRY WEIGHT		10 - 15 kt		20 - 30kt	40 - 60 kt

¹TC: Turbo-compressor | ² Greenhouse Gases

Wells configuration progress

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246 d	EVOLUTION OF WELL CONSTRUCTION ON PRE-SALT
Aggressive CAPEX, OPEX and ABEX Reduction with Efficiency	90%

													70 d
2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023				TARGET
2025	2030
	Well 1.0					Well 2.0			Well 2.1			Well 3.0
Cemented Cased Hole		Non IC Open Hole	IC Open Hole		IC Ultra Slender Open Hole
4 & 5 Phases					4 Phsases			4 Phases IC		3	Phases IC

Subsea Innovations progress

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A movement towards decarbonization with improved efficiency and safety of operations

First Vertical

First Subsea

First Subsea

SCC-CO2

MAPS

HISEP

SCC-CO2

Electrical WCT

SDWI

SAPL

SSAO

Annular Gas-

O/W

Raw Water

Petrobras

Signature

imune pipeline

SCSI

liquid

Separation

Injection

Tools

Separation

System

System

SVFD

Wireless subsea

First Subsea

End of

AUV to subsea

communications

saturate

inspection

High Boost

diving

Multiphase

Pump

2001

2011

2012

2019

2020

2024

2026

2027

2028

2029

2030

Our challenges for the next years

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EQUATORIAL

MARGIN

SOUTHEAST

BASINS

New Production

Frontiers - EquatorialCost Resilience

Margin and Pelotas Basin

Complex Complementary	Improve Operations
& Production Effiency and
Projects
reduce Risk exposure
Energy Transition	Decommissioning
& Decarbonization

Opportunities for Innovation

R&D PORTFOLIO - E&P USD 2.3 billion (2024-2028)

PELOTAS BASIN

Production system of the future technological initiative

-						S CON	NE
					S	C
		S	E			TI
	U	IN						O
	B									N

FLOW

ASSURANCE

• Long subsea tie backs with lines heated

by electrical induction

S

E

C

I

T

C

A

R

P

W E N

Rigless

Intervention

Disruptive completion

Disruptive	Less Risk
Exposure
drilling

Lower

Emissions

Decarbonization of operations

Low carbon power supply

Long tie-backs flow

Subsea processing & boosting

Accelarate	Subsea
1st Oil	smart
	grid
CAPEX
and OPEX
Reduction	Pipelines
	for new
	exploratory
	frontiers
Future
topside
systems

I N T E

G R A T I O N

SUBSEA

SURFACE

ENERGY

AND CLIMATE

WELLS

•	HISEP
• Flexible lines for high CO2 and high pressure
•	Electrified subsea equipment
•	Eletrification
• Post-combustion carbon capture
•	Deep seawater intake
	• Electrification of completion components
	• Self-abandoning wells
	• Automation of activities on the "Drill
	Floor" rigs

T	N								M
E						A
	M				R
		PO		K
			E
				T
				LEVED