Brava Energia 1Q26 Earnings Release

Rio de Janeiro, May 6, 2026 – Brava Energia (“Brava” or “Company”) (B3: BRAV3) herein presents its results for the first quarter of 2026 (“1Q26”):

1Q26 HIGHLIGHTS AND SUBSEQUENT EVENTS
Evolving across all business fronts

Operational highlights: Strong production performance and efficiency 

– Average quarterly production of 76.0 kboe/d in 1Q26, +7% Y/Y.

– Resumption of production at Parque das Conchas: +31% Q/Q, following the completion of scheduled maintenance in January 2026.

– Integrated drilling campaign initiated in March: drilling of 2 wells in Papa-Terra commenced, with the project: on-time and on-budget.

Financial highlights: evolving metrics and strengthened capital structure

– $ 78 million in free cash flow¹ in 1Q26. Cash position at US$ 1,080 million.

– Net Revenue reached R$ 3,135 million (US$ 596 million) in 1Q26, increasing 9% Y/Y and +23% Q/Q, representing, in USD, the highest level in the Company’s history.

– Adjusted EBITDA of R$ 1,628 million (US$ 310 million) in 1Q26, an increase of +52% Y/Y and +2x Q/Q, also representing the highest level in the Company’s history.

– EBITDA Margin achieved an all-time high of 52% in 1Q26. Highlight for the offshore segment, which achieved a robust margin of 68% in the period.

– Significant reduction in leverage, reaching 1.84x in 1Q26 in U.S. dollar terms (vs. 2.16x in 4Q25 and 3.37x in 1Q25), the lowest level since the Company’s formation in 2024.

– Reduction in the Company’s Lifting Cost² to US$ 14.2/boe (-3% Q/Q) in 1Q26.

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• Highlight for the offshore segment, with a lifting cost³ of US$ 10.8/boe (-39% Y/Y), the lowest historical level for the segment..

– Continued optimization of capex in the onshore and downstream segments: -49% Q/Q in 1Q26.

– Improvement in oil sales monetization: +34% improvement in oil sale price in 1Q26, with Atlanta standing out at +46% QoQ.

Strategic and Corporate Highlights

– 2026 Reserves Certification Report: 459 million barrels of oil equivalent (“boe”) of proved reserves (1P) and 611 million boe of proved plus probable reserves (2P).

– Agreement for the Sale of the stake in the Jubarte Unitization⁴.

– Payment of R$ 57.4 million in dividends on April 30, 2026.

– Relevant advances on the ESG front, with highlights including the strengthening of the safety culture, progress on the transparency agenda, and the publication of the Company’s Integrated Report.

To access the materials for the quarter: click here.