Brava Energia Reserves Certification 2025

BRAVA ENERGIA S.A. (“Brava” or “Company”) (B3: BRAV3), pursuant to CVM Resolution No. 44, hereby informs its investors and the market in general about the publication of the Reserve Certification Reports for the Company’s main assets, with a reference date of December 31, 2024 (“Certification 2025”), prepared by the independent specialized consultancies DeGolyer and MacNaughton and Gaffney, Cline & Associates.

The Certification 2025 covers 100% of the onshore assets in the Potiguar Basin and the Recôncavo Basin, 80% of Atlanta, 45% of Manati, 100% of Peroá, and 62.5% of Papa-Terra. The shallow water fields in Rio Grande do Norte (Pescada and Ubarana), and the Parque das Conchas field (BC-10), were not included in the scope of the Certification 2025. For comparison purposes, the numbers from the Reserve Certification 2024 (with a reference date of December 31, 2023), have been adjusted to reflect the Company’s participation by asset, as described above.

Brava now holds 479 million barrels of oil equivalent (“boe”) in proven reserves (1P) and 605 million boe in proven plus probable reserves (2P). Of the total 1P reserves, 92% are oil reserves and 8% represent natural gas. Additionally, the Company highlights that the certified volumes related to Malombe, which is part of the Peroá Cluster, have been classified as contingent resources (10 MMboe of 1C), contingent solely upon the declaration of commerciality of the asset by ANP.

The estimated net present value (NPV) for the upstream assets mentioned above, calculated at a 10% annual discount rate (NPV 10) and excluding income tax, is US$ 8.0 billion and US$ 10.1 billion for 1P and 2P reserves, respectively. It is important to note that the NPV estimate does not include the mid & downstream portfolio (logistics, processing, refining, and derivatives sales) owned by the Company in Rio Grande do Norte. Based on the average production in 2024, the useful life of the 1P reserves indicated in the 2025 Certification would be 26 years; considering the peak 1P production forecasted in the 2025 Certification, it would be 12 years.

The table below summarizes the key results of the Certification 2025, considering the Company’s net interest in the respective assets.

The Reserve Certification Report, along with the supporting materials, is available on the Company’s Investor Relations website. (Link access)

¹ For comparability purposes, the Company’s current working interest in the 2024 Certification (as of December 31, 2023) was considered.