SPE Fazenda Belém S.A. completed the acquisition of Fazenda Belém Cluster from Petróleo Brasileiro S.A. - Petrobras.

SPE Fazenda Belém S.A. agreed to acquire Fazenda Belém Cluster from Petróleo Brasileiro S.A. - Petrobras (BOVESPA:PETR4) for $35.2 million on August 14, 2020. As per the terms, $8.8 million will be paid on the contract signature date, $16.4 million at closing of the transaction and $10 million will be paid in twelve months after closing of the transaction. The transaction is subject to compliance with previous conditions, such as approval by the National Agency of Petroleum, Natural Gas and Biofuels. Marcus Vinicius Bitencourt, David Meiler, Barbara Bitencourt and Taciana Furlan of Campos Mello Advogados acted as legal advisors for 3R Petroleum e Participações S.A.,parent of SPE Fazenda Belém S.A. and Machado, Meyer, Sendacz e Opice acted as legal advisor for Petróleo Brasileiro S.A. - Petrobras.

SPE Fazenda Belém S.A. completed the acquisition of Fazenda Belém Cluster from Petróleo Brasileiro S.A. - Petrobras (BOVESPA:PETR4) on August 5, 2022. After compliance with the preceding conditions, the operation was concluded with the payment at sight of $4.6 million to Petrobras, already with the adjustments provided for in the contract. The amount $8.8 million was paid to Petrobras on the date the purchase and sale agreement was signed. In addition to this amount, Petrobras will also receive $10 million, within one year after the closing of the transaction, which will be adjusted based on the conditions foreseen in the purchase and sale agreement.