Page 17 - LatAmOil Week 08 2021

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Petrobras starts binding barrels per day (bpd) of oil and 67,000 cubic governance standards, including with regard to
metres per day of gas. Petrobras is the operator the pricing policies for company products. The
phase of Carmopolis in these fields, with 100% stake. members of the Executive Board have a mandate
in effect until March 20, 2021 and have the sup-
Petrobras, February 19 2021
Cluster sale port of the Board.”
Petrobras, February 23 2021
Petrobras, following up on the release disclosed MOVES
on November 19, 2020, has announced the
beginning of the binding phase regarding the Petrobras on Extraordinary FINANCE
sale of all of its stakes in a set of 11 onshore pro-
duction field concessions, with integrated facili- General Meeting call Petrobras approves
ties, located in the state of Sergipe, jointly called
the Carmópolis Cluster. Petrobras, following up the press release dis- dividend payment
Potential buyers qualified for this phase will closed on February 19, 2021, in response to the
receive a process letter with detailed instructions Ministry of Mines and Energy’s Official Letter Petrobras, informs that its Board of Directors,
on the divestment process, including guidelines requesting measures to convene an Extraor- at a meeting held today, approved dividends to
for due diligence and the submission of binding dinary General Meeting (EGM) in order to shareholders based on the 2020 annual results
proposals. promote the replacement and election of a in the amount of BRL10.3bn, corresponding to
This disclosure complies with the Petrobras’ member of the Board of Directors, and appoint- BRL0.787446 per common and preferred share.
internal rules and with the provisions of the ing Joaquim Silva e Luna to replace Roberto da This value is equivalent to 5% of the share
special procedure for assignment of rights to Cunha Castello Branco, informs that the com- capital, applied to both preferred and com-
exploration, development and production of oil, pany’s Board of Directors met on this date and, mon shares. Of the total amount, BRL5.7bn
natural gas and other fluid hydrocarbons, pro- by majority vote: refer to the allocation of 2020 annual results
vided for in Decree 9,355/2018. a) authorised the call of an EGM to be held and BRL4.6bn come from the profit retention
This transaction is aligned with the strategy of before the Annual General Meeting (AGM) of reserve.
portfolio optimisation and the improvement of 2021 to (i) the removal of Roberto da Cunha The proposed dividend, higher than the
the company’s capital allocation, concentrating Castello Branco from his position as member of mandatory minimum, was made possible by the
increasingly its resources on world-class assets the Board of Directors of Petrobras, which, once strong cash generation of the company in 2020
in deep and ultra-deep waters, where Petrobras effective, pursuant to the provisions of § 3 of art. and is in line with the commitment to generate
has demonstrated great competitive edge over 141 of the Corporation Law, will result in the value for shareholders.
the years. removal of the other 7 (seven) members of the The payment will be made in Brazil on April
The Carmópolis Cluster comprises 11 Petrobras Board of Directors elected by the mul- 29, 2021 and shareholders will be entitled to this
onshore production concessions, located in dif- tiple vote process at the AGM of July 22, 2020; (ii) dividend as follows: 1. The record date for own-
ferent municipalities in the state of Sergipe, and the election of 8 (eight) members of the Petro- ers of Petrobras shares traded on B3 will be April
includes access to infrastructure for processing, bras Board of Directors; and (iii) the election of 14, 2021, and for holders of American Deposi-
offloading, storage and transportation of oil and the Chairman Petrobras Board of Directors; tary Receipts (ADRs) traded on the New York
natural gas. b) delegated to the Chairman of the Board of Stock Exchange - NYSE will be April 16, 2021. 2.
The Atalaia Cluster, which contains, among Directors the definition of the date of the EGM Petrobras’ shares will be traded ex-dividends on
other assets, the Aracaju Waterway Terminal in reference, considering the need to adopt pre- B3 and NYSE as of April 15, 2021.
(Tecarmo) and the Bonsucesso-Atalaia Oil liminary measures to the mentioned call. The value of this dividend will be adjusted by
Pipeline, which flows the oil production from The nomination will be submitted to the the Selic rate from December 31, 2020 until the
the concessions to Tecarmo are also part of the company’s management and integrity review payment date. This dividend proposal will be
Carmópolis Cluster. process and subject to review by the Personnel sent to the endorsement of the General Share-
In the year 2020, the average production Committee. The Board of Directors said: “It will holder´s Meeting to be held on April 14.
of the Carmópolis Cluster was around 10,000 continue to rigorously watch over Petrobras’ Petrobras, February 24 2021

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