PetroRio on Manati divestment

Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), following best corporate governance practices and in addition to the Material Fact of November 5, 2020, informs its shareholders and the market in general that it formally notified Gas Bridge S.A. (“Gas Bridge”) of the SPA termination, which aimed to sell the 10% interest in the Manati Field (“Field” or “Manati”), once the long stop date had been reached with no satisfaction of the conditions precedent.

PetroRio remains confident on the Field’s future, especially given the recent gas market outlook. Nevertheless, it does not preclude possible further transactions involving Manati. The Company will keep the market informed of any material facts related to Manati.

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