Brava Energia Production Data February 2025

BRAVA ENERGIA S.A. (“BRAVA” or “Company”) (B3: BRAV3), informs its investors and the market in general the preliminary and unaudited production data for the month of February 2025.

Brava reached a record production level in February, registering a significant increase when compared to the previous month. This result is linked to the investments and improvements implemented in the Company’s main areas of operation.

(1)  Papa-Terra: On April 16, 2024, 3R Offshore exercised, in accordance with the provisions of the Joint Operating Agreement (JOA), the right of compulsory assignment (forfeiture) of the 37.5% undivided interest held by Nova Técnica Energy Ltda. (NTE) in the consortium, due to NTE’s default on financial obligations. Following the exercise of forfeiture, NTE initiated arbitration proceedings questioning the application of the compulsory assignment clause provided in the JOA and filed pre-arbitral precautionary proceedings before the Court of Justice of Rio de Janeiro, where an injunction was granted, ordering the suspension of the process before the ANP until the arbitral decision is rendered. 3R Offshore appealed the decision and awaits the formation of the Arbitral Court; (2) On September 26, 2024, the Company completed the transaction to sell 20% of Atlanta to Westlawn Americas Offshore LLC, reducing its stake in the asset to 80%; (3) In February 2025, ~28% of the gas produced in the Recôncavo Complex was reinjected; (4) On December 30, 2024, the Company completed the acquisition of the 23% stake in Parque das Conchas held by QatarEnergy.

Atlanta – Production stability in new wells and new FPSO with high operational efficiency

The average production in the last seven days was approximately 25.6 thousand barrels of oil equivalent per day (referring to 100% of the asset), flowed through the new wells 6H and 7H. Production at FPSO Atlanta began on December 31, 2024 and since then has shown a level of operational efficiency above that expected for an early operation phase.

Over the next few months, the Company plans to complete the connection of the four remaining wells (which have already produced through the FPSO Petrojarl I) to the new FPSO Atlanta.

Papa-Terra – Production resumed in Dec/24 and progress made in the production optimization process

The average production over the last seven days was approximately 15.3 thousand barrels of oil equivalent per day (referring to 100% of the asset), flowed through wells PPT-37, PPT-50 and PPT-51.

Also in the first half of 2025, the Company will implement a solution to stabilize the FPSO’s energy generation using the gas produced, reducing diesel consumption and allowing the resumption of production in the other wells connected to the Papa-Terra floating units (FPSO and TLWP).

Potiguar Complex – Gradual expansion of steam injection capacity

The 7% increase in the month is mainly justified by: (i) the increase in production in heavy oil fields resulting from the gradual expansion of steam injection capacity and (ii) the fiscal measurement of oil retained in the previous month due to operational restrictions.

Recôncavo Complex – Greater operational efficiency

The +10% performance is mainly explained by: (i) greater operational efficiency when compared to the previous month and (ii) the resumption of gas production that had been impacted by the scheduled shutdown of the Catu NGPU (operated by Petrobras) in the previous month.

Manati

The operator indicates the resumption of production by the end of March 2025.

Brava is the operator of the Potiguar and Recôncavo Complexes, Papa-Terra, Atlanta and Peroá, and holds a non-operated stake of 35% in the Pescada Cluster, 45% in the Manati Field, both operated by Petrobras, and 23% in Parque das Conchas, operated by Shell. The breakdown of production by asset is updated monthly in the Company’s valuation guide, available on the Investor Relations website.

To access the spreadsheet, click here.