Petrobras, following up on the releases disclosed to the market on 03/17/2023 and 03/29/2023 and the material fact disclosed on 03/29/2023, informs that its Board of Directors received, on today's date, Official Letter 261/2023/GM-MME (Ofício) in the following terms:
Petrobras disclosed a material fact on March 17, 2023, informing that its Executive Board forwarded, for the appreciation of the Board of Directors, a proposed response to Official Letter 166/2023/GM-MME, dated February 28, 2023, from the Ministry of Mines and Energy (MME).
In the proposal mentioned in the Material Fact, it was informed that, after conducting a preliminary study on the divestment processes in progress, no reasons were found to suspend those projects for which contracts have already been signed.
On March 22, 2023, after being indicated by the CEO of Petrobras, the new Executive Board was elected by the Board of Directors, as per item II, paragraph 1, article 36, of the Company's Bylaws.
In view of the above, considering the competence of Petrobras' Board of Directors, I request that, in compliance with the Company's governance rules, legal security and preservation of investors' interests, the divestment processes in progress be sent to the Executive Board, respecting those that already have signed contracts, with the objective of evaluating the convenience of continuing or not the sale of assets.
Such Official Letter does not change the decision of the Board of Directors on today's date:
The Board of Directors appreciated, on today's date, the content of the Official Letter 166/2023/GM-MME, of 02/28/2023, and of the Official Letter 257/2023/GM-MME, of 03/29/2023, and, considering its attributions, concluded that the review of the investments and divestments 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.
