Petrobras on remuneration to shareholders

Petróleo Brasileiro S.A. – informs that its Board of Directors, at a meeting held today, approved the payment of a dividend in the amount of R$ 3.715490 per outstanding preferred and common share.

The proposed dividend is in line with the Shareholder Remuneration Policy, which provides that in case of gross debt below US$ 65 billion, Petrobras may distribute to its shareholders 60% of the difference between operating cash flow and acquisitions of fixed and intangible assets (investments). In addition, the Policy also foresees the possibility of paying extraordinary dividends, provided that the financial sustainability of the Company is preserved.

The approval of the proposed dividend is compatible with the company’s financial sustainability and is aligned with the commitment of value generation for the society and for the shareholders, as well as with the best practices in the oil and gas industry.

Of the approved amount, (i) R$ 3.138754 per share refers to the anticipation of shareholder remuneration for 2022 and will be declared based on the balance sheet of March 31, 2022; and (ii) R$ 0.576736 per share will be paid out of profit retention reserves on the balance sheet for fiscal year 2021.

The dividends will be paid in two equal installments in June and July, as follows:

Amount to be paid: R$ 3.715490 per common and preferred share outstanding, whereby:

(i) the first installment, in the amount of R$ 1.857745 per outstanding preferred and common share, will be paid on June 20, 2022.

(ii) the second installment, in the amount of R$ 1.857745 per preferred and common share, will be paid on July 20, 2022.

Record date: May 23, 2022 for holders of Petrobras shares traded on B3 and May 25, 2022 for ADR holders traded on New York Stock Exchange (NYSE). Petrobras shares will be traded ex-dividends on B3 and NYSE as of May 24, 2022.

Payment date: For holders of Petrobras shares traded on B3, first payment will be made on June 20, 2022 and second payment will be made on July 20, 2022. ADR holders will receive payments starting on June 27, 2022 and July 27, 2022, respectively.

Form of distribution: The first installment of payment will be made as follows: (a) dividends, of                 R$ 1.427568 per outstanding preferred and common share; and (b) interest on equity of R$ 0.430177 per outstanding preferred and common share. The second installment will be paid in full as dividends.

Petrobras’ Shareholder Remuneration Policy can be accessed on the company’s website  (https://www.investidorpetrobras.com.br/en/).

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