Petrobras announces redemption prices for two series of notes

Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) has delivered notices to the holders of the outstanding 4.250% Global Notes due 2023 (“4.250% Notes”) and 4.375% Global Notes due 2023 (“4.375% Notes” and, together with the 4.250% Notes, the “Notes”) announcing the redemption prices for the Notes. As previously announced, the redemption date for the Notes will be September 29, 2021 (the “Redemption Date”).

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Payment on the 4.250% Notes will be made prior to 12:00 pm London time on the business day preceding the Redemption Date by credit to the account of The Bank of New York Mellon, London Branch, as principal paying agent for the 4.250% Notes (the “Principal Paying Agent”).  Payment on the 4.375% Notes will be made prior to 3:00 pm New York time on the business day preceding the Redemption Date by credit to the account of The Bank of New York Mellon (the “Trustee”), the trustee and paying agent for the 4.375% Notes.

For the 4.250% Notes, the Principal Paying Agent, as common depositary for Clearstream and Euroclear, will cause funds to be paid to its participants in the aggregate amount of €323,542,128.84 (or approximately €1,091.58 per €1,000 principal amount of the 4.250% Notes), which constitutes the redemption price for the 4.250% Notes. The redemption price includes a make-whole premium of €27,144,128.84 (or approximately €91.58 per €1,000 principal amount of the 4.250% Notes). In addition to the redemption price, holders will receive accrued and unpaid interest on the principal amount of the 4.250% Notes from October 2, 2020 to (but not including) the Redemption Date in the amount of €12,493,378.71 (or approximately €42.15 per €1,000 principal amount of the 4.250% Notes).

For the 4.375% Notes, the Trustee will cause funds to be paid to The Depository Trust Company for further payment to its participants in the aggregate amount of US$972,473,150.88 (or approximately US$1,061.28 per US$1,000 principal amount of the 4.375% Notes), which constitutes the redemption price of the 4.375% Notes. The redemption price includes a make-whole premium of US$56,152,150.88 (or approximately US$61.28 per US$1,000 principal amount of the 4.375% Notes). In addition to the redemption price, holders will receive accrued and unpaid interest on the principal amount of the 4.375% Notes from May 20, 2021 to (but not including) the Redemption Date in the amount of US$14,365,240.68 (or approximately US$15.68 per US$1,000 principal amount of the 4.375% Notes).

On the Redemption Date, the redemption prices, including accrued and unpaid interest, will become due and payable. Interest on the Notes will cease to accrue on and after the Redemption Date. Upon the redemption, the 4.250% Notes will cease to be listed on the Luxembourg Stock Exchange, the 4.375% Notes will cease to be listed on the New York Stock Exchange, and the Notes and the related guarantees by Petrobras will be cancelled and any obligation thereunder extinguished.

PGF intends to fund the amounts necessary to redeem the Notes with available cash on hand.

For more information or if you have any questions regarding this notice, please contact the Company’s investor relations department at petroinvest@petrobras.com.br.

Forward-Looking Statements

This announcement contains forward-looking statements.  Forward-looking statements are information of a non-historical nature or which relate to future events and are subject to risks and uncertainties.  No assurance can be given that the transactions described herein will be consummated or as to the ultimate terms of any such transactions. Petrobras undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.

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