Jan. 16 – BRAVA ENERGIA S.A. (“Brava” or “Company”) (B3: BRAV3), pursuant to CVM Resolution No. 44, hereby informs its investors and the market in general that, on January 15, 2026, it has entered into an agreement for the acquisition of the entire 50% equity interest currently held by PETRONAS Petróleo Brasil Ltda. (“PPBL”) in the Tartaruga Verde field (BM-C-36 Concession) and in Module III of the Espadarte field, located in the Campos Basin, State of Rio de Janeiro.
The transaction has a total value of US$450 million, consisting of: (i) US$50 million paid on the signing date; (ii) US$350 million to be paid at the closing, an amount subject to adjustments related to the effective date of the transaction (July 1, 2025); and (iii) two deferred payments of US$ 25 million to be paid within 12 and 24 months after the closing of the transaction.
The completion of the transaction is subject to the fulfillment of precedent conditions that are usual for similar transactions, such as, the approval of the Brazilian Antitrust Authority (“CADE”) and the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (“ANP”), and the operator’s waiver of its pre-emption rights. Accordingly, if all precedent conditions are satisfied, the transaction is expected to be closed in 2026.
The transaction is aligned with Brava’s strategy of continuous portfolio review and its commitment to seek risk-adjusted returns, asset diversification, and efficiency in capital allocation. The Company will continue to evaluate strategic portfolio review opportunities, maintaining its commitment to long-term value creation.
About the Assets
The Tartaruga Verde field and Espadarte Module III are located in the southern portion of the Campos Basin, in water depths ranging from approximately 700 to 1,620 meters, with reservoirs at depths of around 3,000 meters. The assets are currently operated by Petrobras, which holds a 50% equity interest, through the FPSO Cidade de Campos dos Goytacazes, in operation since 2018.
The unit currently comprises 14 producing wells, of which 11 are associated with the Tartaruga Verde field and 3 with Espadarte Module III. In 2025, the average production of the assets was approximately 55.6 thousand barrels of oil equivalent per day (100% of the asset), consisting predominantly of oil, with a residual portion of natural gas, transported through the Enchova gas pipeline to the Cabiúnas terminal. The concessions are valid through 2039, pursuant to the contracts currently in force.
The Company will keep its investors and the market duly informed of any relevant developments related to the transaction, in accordance with applicable legislation and best corporate governance practices.
Brazil Energy Insight 
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