Petróleo Brasileiro S.A. – Petrobras, regarding the news published in the media, informs that there is no decision taken about the distribution of dividends not yet declared.
Management’s decisions on dividends, including the proposal for allocation of the result to be submitted for approval at the Annual General Meeting scheduled for April 25, 2024, will be made based on the Company’s new Shareholder Remuneration Policy, approved by the Board of Directors on July 28, 2023 (“Policy” or “new Policy”).
In general terms, the new Policy states that “in the event of gross debt equal to or less than the maximum level of indebtedness defined in the strategic plan in force and accumulated positive results, to be verified in the last quarterly result calculated and approved by the Board of Directors, the Company shall distribute 45% of free cash flow to its shareholders”. The Policy’s formula “will be applied each quarter to the Company’s consolidated cash flows for the respective quarter”.
The amounts relating to share buybacks made by the Company, presented in the consolidated cash flow statement for each period, will be deducted from the amount resulting from the formula applied each quarter.
In addition, “The Company may, in exceptional cases, distribute extraordinary remuneration to shareholders, exceeding the minimum legal mandatory dividend and/or the amounts established in items 4.1 and 4.2, provided that the Company’s financial sustainability is preserved.”
Finally, Petrobras emphasizes that it seeks, through this policy, to guarantee its continuity and financial sustainability in the short, medium and long term and to provide predictability to the flow of payments of remuneration to shareholders. For more details, we recommend reading the Policy, available at http://www.investidorpetrobras.com.br
Brazil Energy Insight 
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