Petrobras announces sale of stake in electricity company

Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 02/08/2023 and 09/04/2023, informs of the start of the binding phase for the sale of its 18.8% stake in UEG Araucária S.A. (UEGA), together with its partners, Companhia Paranaense de Energia – COPEL and COPEL Geração e Transmissão S.A., which hold 20.3% and 60.9% of the share capital respectively, totaling 100% of UEGA’s shares.

Potential buyers classified for this phase will receive a process letter with instructions on the divestment process, including guidelines for carrying out due diligence and submitting binding bids.

The main subsequent stages of the project will be informed to the market in due course.

This disclosure is in accordance with Petrobras’ internal rules and with the special regime for the divestment of assets by federal mixed-capital companies, provided for in Decree 9,188/2017.

This operation is in line with the portfolio optimization strategy, aimed at maximizing value and greater return to society.

About UEGA – Usina Elétrica a Gás de Araucária

UEGA is a venture between the Copel Group and Petrobras, consisting of a natural gas-fired thermoelectric plant (combined cycle, with two gas turbines and one steam turbine) located in Araucária – PR, close to the Bolivia-Brazil gas pipeline (GASBOL). It began operating in 2002 and has a total installed capacity of 484 MW.