Petróleo Brasileiro S A Petrobras : Result of the 2nd Bidding Round for the Transfer of Rights surplus in the Production Sharing Agreement December 17, 2021

Result of the 2nd Bidding Round for the Transfer of Rights surplus in the Production Sharing Agreement

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Rio de Janeiro, December 17, 2021 - A Petróleo Brasileiro S.A. - Petrobras informs that it has acquired the exploration and production rights of the volumes exceeding those of the Transfer of Rights in the Atapu and Sepia offshore fields in the 2nd Bidding Round for the Transfer of Rights surplus under the Production Sharing Regime, held today, by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

Petrobras exercised its the pre-emption right in the acquisition of the surplus volumes of the Sépia field, adhering to the winning consortium's proposal. The consortium will have Petrobras as operator, with 30% participation, in partnership with TotalEnergies EP (28%), Petronas (21%) and QP Brasil (21%).

Petrobras acquired the rights to the surplus volumes of the Atapu field in partnership with Shell Brasil and Total Energies EP. The consortium will have Petrobras as the operator, with 52.50% participation, in partnership with Shell Brasil (25%) and TotalEnergies (22.50%).

With today's bidding round results, Petrobras assures the maintenance of the operation in these fields, located in ultra-deep waters of the Santos Basin, for which it had already expressed the pre-emption right, as disclosed to the market on 04/28/2021, and confirms its leadership position in the Brazilian pre-salt, consistent with its strategy of focusing on the exploration and production of assets in deep and ultra-deep waters.

Atapu and Sépia are proven high-productivity assets, with good oil characteristics and significant potential to incorporate reserves. They have low lifting costs and are resilient to a low-price scenarios, which reflects Petrobras' efficient and competitive performance in deep and ultradeep water assets.

The Atapu field started production in June 2020 through FPSO P-70 and reached its production capacity of 150,000 barrels of oil per day in July 2021. It has the capacity to treat up to 6 million m³/d of gas.

The Sépia field started its production in August 2021 through FPSO Carioca, the biggest platform in operation in Brazil in terms of complexity.

www.petrobras.com.br/ri

Para mais informações:

PETRÓLEO BRASILEIRO S.A. - PETROBRAS | Relações com Investidores e-mail: [e-mail]/[e-mail]

Av. Henrique Valadares, 28 - 19° andar - torre A - 20231-030 - Rio de Janeiro, RJ.

Tel.: [phone]/9947 | 0800-282-1540

Este documento pode conter previsões segundo o significado da Seção 27A da Lei de Valores Mobiliários de 1933, conforme alterada (Lei de Valores Mobiliários) e Seção 21E da lei de Negociação de Valores Mobiliários de 1934 conforme alterada (Lei de Negociação) que refletem apenas expectativas dos administradores da Companhia. Os termos: "antecipa", "acredita", "espera", "prevê", "pretende", "planeja", "projeta", "objetiva", "deverá", bem como outros termos similares, visam a identificar tais previsões, as quais, evidentemente, envolvem riscos ou incertezas, previstos ou não, pela Companhia. Portanto, os resultados futuros das operações da Companhia podem diferir das atuais expectativas, e, o leitor não deve se basear exclusivamente nas informações aqui contidas.

The offer of the percentage of the oil surplus to be made available to the Union was the only criterion adopted by the ANP to define the winning proposal, with the fixed value of the signature bonus already included in the tender protocol.

The total amount of the signing bonus to be paid by Petrobras is R$ 4.2 billion. The table below summarizes the results of Petrobras' participation in the 2nd Bidding Round for the Transfer of Rights surplus:

	Sedimentary				Composition		Surplus Oil		Bonus
		Field			for the		Petrobras' stake
	Basin			of the Consortium
					Union		(R$)
					Petrobras* 52,50%
	Santos		Atapu		Shell Brasil 25%	31,68%	2.101.050.000,00
					TotalEnergies EP 22,50%
					Petrobras* 30%
	Santos		Sépia		TotalEnergies EP 28%	37,43%	2.141.400.000,00
			Petronas 21%
					QP Brasil 21%
	Total		-		-		-		4.242.450.000,00

*Operator

For Atapu and Sepia, the amount of compensation before gross up is respectively US$ 3,253,580,741.00 and US$ 3,200,388,219.00 and will be paid by the partner companies to Petrobras in proportion to their participation in the consortium. For Atapu, Petrobras will receive compensation by April 15, 2022. The compensation date for Sépia will be defined after negotiation with the consortium.

The participation in the 2nd Bidding Round for the Transfer of Rights surplus is aligned to the Petrobra's long-term strategy and strengthens its profile as the main operator of oil fields located in ultra-deep waters.

www.petrobras.com.br/ri

Para mais informações:

PETRÓLEO BRASILEIRO S.A. - PETROBRAS | Relações com Investidores e-mail: [e-mail]/[e-mail]

Av. Henrique Valadares, 28 - 19° andar - torre A - 20231-030 - Rio de Janeiro, RJ.

Tel.: [phone]/9947 | 0800-282-1540

Este documento pode conter previsões segundo o significado da Seção 27A da Lei de Valores Mobiliários de 1933, conforme alterada (Lei de Valores Mobiliários) e Seção 21E da lei de Negociação de Valores Mobiliários de 1934 conforme alterada (Lei de Negociação) que refletem apenas expectativas dos administradores da Companhia. Os termos: "antecipa", "acredita", "espera", "prevê", "pretende", "planeja", "projeta", "objetiva", "deverá", bem como outros termos similares, visam a identificar tais previsões, as quais, evidentemente, envolvem riscos ou incertezas, previstos ou não, pela Companhia. Portanto, os resultados futuros das operações da Companhia podem diferir das atuais expectativas, e, o leitor não deve se basear exclusivamente nas informações aqui contidas.