Petrobras (PBR) issues statement on letter from the Ministry of Mines and Energy

March 29, 2023 2:52 PM EDT

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Petrobras (NYSE: PBR) informs that its Board of Directors has considered, on today's date, the content of Official Letter 166/2023/GM-MME, of 02/28/2023, and of Official Letter 257/2023/GM-MME, of 03/29/2023, and considering its attributions, concluded that the review of the investment and divestment processes must be carried out based on the Company's "Strategic Plan", prepared by the Executive Board and approved by this Board, pursuant to Petrobras' Bylaws.

Therefore, in view of the Ministry of Mines and Energy's request and the election of the new Executive Board on 03/29/2023, the Board of Directors will study the matter, in case the new management, which has just taken office, decides to propose the revision of the "Strategic Plan".

It is worth noting that this revision should not include divestments already in the phase of signing and closing contracts in order to fully comply with the rights and obligations already assumed by the Company, with schedules and dates already set to occur throughout the four quarters of 2023, and thus not cause any damage to the parties involved in the negotiations, especially Petrobras.

Material facts will be timely disclosed to the market.

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