Petrobras on the Tupi and Iracema Development Plan

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Rio de Janeiro, December 22 , 2021 - Petróleo Brasileiro S.A. - Petrobras informs that, as the operator of the Tupi Field, submitted, today, to the National Petroleum, Natural Gas and Biofuel Agency (ANP), the review of the Integrated Development Plan (PD) of the Shared Deposit of Tupi and the Iracema Area. In this revision, the Tupi Consortium proposes new investments to increase production and, consequently, maximize the generation of value of this field in the long term.

The DP revision proposes the implementation of resilient projects at low oil prices, seeking to increase the final recovery factor of the Tupi field. The initiative is adherent to Petrobras' strategy of concentrating its activities in deep and ultra-deep water assets, where it has shown a great competitive edge over the years, producing better quality oil and with lower greenhouse gas emissions.

The Tupi Consortium is formed by Petrobras (67.216%), Shell (23.024%), Petrogal (9.209%) and PPSA (0.551%).

www.petrobras.com.br/ir

For more information:

PETRÓLEO BRASILEIRO S.A. - PETROBRAS | Investors Relations email: petroinvest@petrobras.com.br/acionistas@petrobras.com.br Av. Henrique Valadares, 28 - 19 Andar - 20231-030- Rio de Janeiro, RJ. Tel.: 55 (21) 3224-1510/9947| 0800-282-1540

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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PETROBRAS - Petróleo Brasileiro SA published this content on 22 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 December 2021 21:56:01 UTC.