Petrobras on agreement with Amazonas Energia

Petróleo Brasileiro S.A. –  Petrobras informs that it has signed, together with its indirect subsidiaries Breitener Tambaqui S.A. and Breitener Jaraqui S.A., a legal agreement for the receipt of amounts that they claim against Amazonas Energia S/A (debtor) and Centrais Elétricas Brasileiras S.A. – Eletrobras (jointly responsible). Also part of the agreement is the payment by Amazonas Energia to Petrobras of overdue amounts remaining from thermal contracts billing.

The agreement involves the recovery of credits by Breitener Tambaqui and Breitener Jaraqui, against Amazonas Energia S/A, in the amount of approximately R$ 436 million, updated up to January 18, 2021, related to 7 lawsuits, which will be suspended until the full settlement of the negotiated credits. The amount transacted will be settled by the debtor (Amazonas Energia S/A) in 60 installments, calculated using the constant amortization system – CAS, updated based on 124.75% of the CDI, from January 18, 2021 until full settlement.

The agreement also included the recovery of a credit from Petrobras, in the amount of about R$ 3.2 million related to a 2018 fiscal year invoice, issued in September 2019, which will be settled by Amazonas Energia S/A in cash, within 15 days from the signing of the agreement.
The signing of the agreement will generate a positive effect on the consolidated result of Petrobras in the 2nd quarter of 2021 of R$ 328 million, net of tax effects. The information regarding the amounts receivable from related parties, which includes receivables from the Eletrobras group, is presented in notes 14.1. of Petrobras’ 2020 financial statements.

Petrobras understands that this agreement will anticipate the receipt of the receivable, reduce the costs associated with the continuation of these disputes and terminate related controversies.

Petrobras holds a 93.66% interest in Breitener Energética S.A., the latter being the full parent company of Breitener Tambaqui and Breitener Jaraqui.

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