Page 16 - LatAmOil Week 32 2021

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Petrobras is also committed to reducing its carbon intensity and low costs. in the world to produce second generation eth-
indebtedness and, in this second quarter, it Petrobras, August 4 2021 anol on a commercial scale, reusing bagasse, the
reached a gross debt of $63.7bn, 10.3% lower fibrous by-product of sugar cane production.
than last quarter. This value is below the forecast Second-generation biofuels such as these are
for 2021 ($67bn) and very close to the goal of FINANCIAL Shell’s primary focus for investment and scaling
reaching $60bn, initially foreseen for the end of up biofuels’ availability.
2022. Adjusted Net Debt/EBITDA reached 1.49x Raizen IPO aims to Shell Brazil Holding, August 5 2021
at the end of the second quarter, the best mark
since the third quarter of 2011, when leases were accelerate growth of Petrobras approves
not yet part of debt.
“The results achieved this quarter stem from Shell’s renewable energy payment of dividends
our resilience, focus on the best assets and our
ability to adapt. I also highlight the strong delev- joint venture in Brazil to shareholders
eraging, the achievements with the portfolio
management process and, last but not least, the Shell Brazil Holding, a subsidiary of Royal Petrobras informs that its Board of Directors,
substantial dividend payment in recognition Dutch Shell, marks the start of trading in shares at a meeting held today, approved the payment
of our shareholders. We will work to make this of Raízen, the renewable energy joint venture of two advance payments of remuneration to
percentage payment increase even more over between Shell and Brazilian energy company shareholders for fiscal year 2021, in the total
the years”, said the Chief Financial and Investor Cosan, on the Sao Paulo Stock Exchange (B3), gross amount of BRL31.6bn (about $6bn).
Relations Officer Rodrigo Araujo. following the successful execution of an initial These extraordinary payments consider
The operating results were also highlighted public offering (IPO). Petrobras’ expected results and cash generation
by the average production of 2.8mn barrels of oil “Shell is committed to Raízen as we grow our for 2021, being compatible with the company’s
equivalent per day (boepd), 1.1% above the first renewable energy business and our presence in financial sustainability, without compromising
quarter, with the pre-salt fields contributing with Brazil and Argentina,” said Huibert Vigeveno, its trajectory of debt reduction and liquidity, in
1.96mn boepd, equivalent to 70% of the total. Shell’s Downstream Director. “This IPO should line with the principles of the Dividend Policy.
These results confirm the company’s success- help Raízen to grow faster, enabling it to deliver The payments will be distributed as follows:
ful portfolio management strategy, by reducing more and cleaner energy to our customers. We 1st installment: Total value BRL21bn,
presence in businesses with low adherence to its believe this IPO is the best way to fund the strat- Gross value per common and preferred share
asset portfolio to reallocate resources to higher egy and provide consistent returns on invest- BRL1.609911 per share. Record date: the record
productivity projects and assets, maximising the ment for the joint venture partners and new date for owners of Petrobras shares traded on
return on capital employed. investors alike.” B3 will be August 16, 2021, and for holders of
This year, up to July 31, the cash inflow from Raízen is a global leader in the production of American Depositary Receipts (ADRs) traded
the sale of assets reached $2.8bn. Besides the first- and second-generation biofuel from sugar on the New York Stock Exchange (NYSE) will
signature of the Gaspetro sale, we concluded the cane. It is pursuing an ambitious growth strat- be August 18, 2021. Petrobras shares will trade
following operations in the period: the public egy, as shown by the recent agreement to acquire ex-dividends on the B3 and NYSE as of August
offering of the remaining stake in BR, the sale of Biosev and the integration of Shell’s lubricants 17, 2021. Payment date: for holders of Petrobras
the Frade and Dó-Ré-Mi oilfields, of the Rio Ven- business in Brazil into Raízen (both subject to shares traded on B3 payment will be made on
tura Pole, of the Mangue Seco 1, Mangue Seco 2, deal completion), and the investment decision August 25, 2021. ADR holders will receive the
Mangue Seco 3, and Mangue Seco 4 wind farms, to expand Raízen’s second-generation biofuels payment on September 1, 2021. Form of distri-
of Petrobras Uruguay Distribución (PUDSA), of production capacity. Growing Raízen will also bution: Dividends.
BSBios, and of the remaining 10% stake in NTS. contribute to Shell’s target to become a net-zero 2nd installment: Total value BRL10.6bn,
These resources will allow for increased invest- emissions energy business by 2050, in step with Gross value per common and preferred share:
ments in promising projects such as, for exam- society. BRL0.812622 per share. Record date: the record
ple, the development of the Búzios oilfield, in The Shell-branded retail sites and lubricants date for owners of Petrobras shares traded on
the Santos Basin pre-salt, the largest deepwater business in Brazil and Argentina will continue to B3 will be December 1, 2021, and the record
field in the world. It is a world-class asset, with be managed by Raízen. date for ADR holders will be December 3, 2021.
substantial reserves, low risk, which allows for Raízen produces first generation ethanol Petrobras shares will be traded ex-dividends on
doubly resilient oil and gas production, with low from sugar cane, and it is also the only company B3 and NYSE as of December 2, 2021. Payment
date: for holders of Petrobras shares traded on
B3 payment will be made on December 15,
2021. ADR holders will receive the payment
on December 22, 2021. Form of distribution:
Petrobras will declare and communicate the
form of distribution (dividends and/or interest
on equity) prior to the record date.
The amounts paid in advance to sharehold-
ers as dividends or interest on equity, readjusted
by the Selic rate from the payment date until
the end of the year, will be discounted from the
mandatory minimum dividends, including the
minimum dividend owed to preferred shares.
Petrobras, August 4 2021

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