Petrobras on Organizational Adjustment

Petróleo Brasileiro S.A. – Petrobras, in addition to the release disclosed on 04/06/2023, informs that its Board of Directors approved, in a meeting held today, the Company’s organizational adjustment proposal, which will be effective as of May 1st.

The proposal has three objectives: (i) prepare the company for the energy transition with the creation of an area focused on the topic;  (ii) to bring together the engineering, technology and innovation activities, strengthening the project development area with the research and development efforts; and (iii) to concentrate corporate activities in an area focused on the company’s management, strengthening synergies among the processes.

The approved proposal creates the Energy Transition and Sustainability Executive Office, which will be headed by Mauricio Tolmasquim and will have, at this moment, the Gas and Energy and Climate Change and Decarbonization executive managements.

The current Production Development Executive Office, under Carlos José do Nascimento Travassos, will be renamed Engineering, Technology, and Innovation Executive Office, and will incorporate the Leopoldo A. Miguez de Mello Research and Development Center (Cenpes).

The current Refining, Gas and Energy Executive Office, held by William França da Silva, will be renamed Industrial Processes and Products Executive Office.

The current Marketing and Logistics Executive Board, occupied by Claudio Romeo Schlosser, will be renamed Logistics, Commercialization and Markets Executive Board.

The Institutional Relations and Sustainability Executive Office will be extinguished, with its Officer, Clarice Coppetti becoming Corporate Affairs Executive Officer, which will manage the internal processes of people management, health, environment and safety (HSE) and shared services, and will incorporate the structure of digital transformation, information security and information technology.

The executive managements of Communication, Social Responsibility and External Relations will be directly linked to the CEO.

The Financial and Investor Relations Executive Office, occupied by Sergio Caetano Leite, will now be responsible for the Portfolio Management area.

The Executive Offices of Exploration and Production and of Governance and Compliance will be maintained.

This organizational adjustment does not alter the current number of Executive Offices and does not generate any increase in costs for the Company.

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