3R Petroleum: Reserves Report Update

3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”) (B3: RRRP3) communicates to its shareholders, investors and the market in general the result of the updates of the reserves reports of the Macau and Recôncavo Clusters, prepared by the independent consultancy DeGolyer and MacNaughton, and of the Rio Ventura, Fazenda Belém and Pescada and Arabaiana Clusters, prepared by the independent consultancy Gaffney Cline, both with a base date of December 31, 2021.

The table below summarizes the results of assets’ reserves reports, highlighting the relevant replacement of reserves in all classifications, when compared to previous reports. Additionally, 3R highlights the significant increase in the net present value, calculated based on a discount rate of 10% per year (NPV 10), estimated by the consultants.

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(1) The previous reserves report of Macau Cluster considered 50% of the Sanhaçu Field, acquired in December 2021 by the Company

The Company’s Portfolio

Considering the consolidated portfolio, 3R now has 514.8 million barrels of oil equivalent of proved most probable reserves (2P), of which 373.3 million barrels (or 73%) are proved reserves (1P) and 35 % of 2P reserves are classified as proved developed producing reserves (PDP). Of the total 2P reserves, 11% represent natural gas reserves.

In comparative terms, 3R’s portfolio presents replacement of 18.5 million (+5.2%) and 21.3 million (+4.3%) in 1P and 2P reserves, when compared to previous estimates. The estimated NPV 10 is US$4.75 billion and US$6.49 billion for 1P and 2P reserves, respectively.

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2P Reserves (MMboe)

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All asset reserves reports that form the Company’s portfolio can be accessed in full through the investor relations website, http://ri.3rpetroleum.com.br. Finally, 3R reinforces its commitment to keep its shareholders, investors and the market in general duly informed, in line with the best corporate governance practices and in strict compliance with current legislation.

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