Petrobras : on improvement of its pricing policy governance July 27, 2022

Petrobras on improvement of its pricing policy governance

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Rio de Janeiro, July 27, 2022 - Petróleo Brasileiro S.A. - Petrobras, informs that its Board of Directors, at a meeting held today and in line with the continuous improvement of its governance, approved the Guideline for Price Formation in the Domestic Market (Guideline). The Guideline reiterates the Executive Board's competence in executing pricing policies, preserving and prioritizing the Company's economic result, seeking to maximize its value creation. Furthermore, the Guideline incorporates an additional layer of supervision of the execution of the pricing policies by the Board of Directors and the Fiscal Council, based on the Executive Board's quarterly report, formalizing an already existing practice.

The procedures related to the execution of the price policy, such as the periodicity of the product price adjustments, the percentages and values of such adjustments, the convenience and opportunity in relation to the decision of price adjustments remain under the competence of the Executive Board.

It is worth pointing out that the aforementioned approval does not imply any change to the current price policies in the domestic market, aligned to international prices, nor to the Company's Bylaws.

The aforementioned Guideline can be consulted hereon Petrobras' Investor Relations website (https://www.investidorpetrobras.com.br/en/).

www.petrobras.com.br/ri

For more information:

PETRÓLEO BRASILEIRO S.A. - PETROBRAS | Investor Relations e-mail: [e-mail]/[e-mail] Av. Henrique Valadares, 28 - 19th floor - 20031-030 - Rio de Janeiro, RJ. Tel.: [phone]/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.