Petrobras on deadlines for refinery sales foreseen in the TCC

Petróleo Brasileiro S.A. – Petrobras informs that it has celebrated a new addendum to the Term of Commitment to Cessation (TCC) signed with the Administrative Council for Economic Defense (CADE), with the purpose of extending the deadline for Petrobras to continue with the discussions for the effective conclusion of the negotiation processes and to execute the signing of the purchase and sale agreements related to the REMAN, LUBNOR, and REFAP refineries.

As a result, the current deadlines for the purchase and sale agreements´signing are as follows:

(i) Isaac Sabbá Refinery (REMAN) – 08/31/2021;

(ii) Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR), Alberto Pasqualini Refinery (REFAP), Unidade de Industrialização do Xisto (SIX), Gabriel Passos Refinery (REGAP) and Abreu e Lima Refinery (RNEST) – 10/30/2021 and

(iii) Presidente Getúlio Vargas Refinery (REPAR) – 12/31/2021.

The sale process of these assets is subject to evaluation by Petrobras’ internal governance bodies. Such operations are provided for in the TCC signed with CADE in June 2019.

Petrobras reaffirms its commitment to comprehensive transparency in the management of its portfolio and reinforces that the main stages of the processes are disclosed to the market in accordance with Petrobras’ internal rules and with the special regime for divestment of assets by federal mixed economy companies, provided for in Decree 9,188/2017.

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