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PETROBRAS

(PETR4)
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Delayed Bolsa de Valores de Sao Paulo  -  11:59 2022-07-01 am EDT
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Petrobras : on the request for an Extraordinary General Meeting May 25, 2022

05/25/2022 | 06:11pm EDT

Petrobras on the request for an Extraordinary General Meeting

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Rio de Janeiro, May 25, 2022 - Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on 05/23/2022, regarding the Ministry of Mines and Energy's Official Letter requesting the convening of an Extraordinary General Meeting (EGM) to promote the substitution and election of a member of the Board of Directors and the nomination of Mr. Caio Mario Paes de Andrade, to substitute Mr. José Mauro Ferreira Coelho, informs that the Board of Directors met on this date and deliberated that:

  1. the nomination of Mr. Caio Mario Paes de Andrade will be submitted to the internal governance process, observing the Policy for the Nomination of Members of Senior Management, for the analysis of legal and management and integrity requirements and subsequent manifestation of the People Committee, pursuant to article 21, §4, of Decree 8,945/2016, as amended by Decree 11,048/2022;
  2. due to the fact that Mr. José Mauro Ferreira Coelho was elected by the multiple vote system at the Annual General Meeting of April 13, 2022, and his removal from office, if approved at the EGM, would lead to the removal from office of the other members of the Board elected by the same process, the calling of the new EGM presupposes (i) the sending of the nominations of the other 7 (seven) members to the Board of Directors and, (ii) the manifestation of the Personnel Committee about the compliance of the nominees with the legal, regulatory and statutory requirements and prohibitions, pursuant to article 21, paragraph 4, of Decree 8 ,945/2016, as amended by Decree 11,048/2022, published on 04/19/2022, to be included in the management proposal for holding the EGM;
  3. after the mentioned steps, the Board will meet again to deliberate on the convocation of the EGM with the following matters: (i) removal of Mr. José Mauro Ferreira Coelho from the position of member of the Board of Directors of Petrobras, which, if approved, will require (ii) the election of 8 (eight) members of the Petrobras' Board of Directors and (iii) the election of the Chairman of the Board of Directors of Petrobras.

The Company also clarifies that all its General Meetings are subject to a minimum period of 30 days between the call and the meeting, due to the fact that it is an issuer of shares that serve as backing for American Depositary Receipts (ADRs), as disclosed in item 12.2 of its Reference Form.

Facts deemed relevant will be communicated to the market in due course.

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 - 19th floorr - 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.

Disclaimer

PETROBRAS - Petróleo Brasileiro SA published this content on 25 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2022 22:10:29 UTC.


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Financials
Sales 2022 570 B 109 B 109 B
Net income 2022 141 B 26 981 M 26 981 M
Net Debt 2022 219 B 41 815 M 41 815 M
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Yield 2022 47,2%
Capitalization 384 B 73 358 M 73 358 M
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Nbr of Employees 45 532
Free-Float 64,4%
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Number of Analysts 12
Last Close Price 27,93 BRL
Average target price 42,63 BRL
Spread / Average Target 52,6%
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Rodrigo Araujo Alves Chief Financial Officer
Gileno Gurjo Barreto Chairman
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