Petrobras : Performance 1Q24

1Q24

Performance

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Webcast

May 14th, 2024

Alexandre Uchina

Capuava Refinery

Disclaimer

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The presentation may contain forward-looking statements about future events that are not based on historical facts and are not assurances of future results. Such forward-looking statements merely

reflect the Company's current views and estimates of

future economic circumstances, industry conditions, company performance and financial results. Such terms as "anticipate", "believe", "expect", "forecast", "intend", "plan", "project", "seek", "should", along with similar or analogous expressions, are used to identify such forward-looking statements. Readers are cautioned that these statements are only projections and may differ materially from actual future results or events. Readers are referred to the documents filed by the Company with the SEC, specifically the Company's most recent Annual Report on Form 20-F, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including, among other things, risks relating to general economic and business conditions, including crude oil and other commodity prices, refining margins and prevailing exchange rates, uncertainties inherent in making estimates of our oil and gas reserves including recently discovered oil andgas reserves, international and Brazilian political, economic and social developments, receipt of governmental approvals and licenses and our ability to obtain financing.

We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason. Figures for 1Q24 on are estimates or targets.

All forward-looking statements are expressly qualified in their entirety by this cautionary statement, and you should not place reliance on any forward-looking statement contained in this presentation.

In addition, this presentation also contains certain financial measures that are not recognized under Brazilian GAAP or IFRS. These measures do not have standardized meanings and may not be comparable to similarly-titled measures provided by other companies. We are providing these measures because we use them as a measure of company performance; they should not be considered in isolation or as a substitute for other financial measures that have been disclosed in accordance with Brazilian GAAP or IFRS.

NON-SEC COMPLIANT OIL AND GAS RESERVES: CAUTIONARY STATEMENT FOR US INVESTORS

We present certain data in this presentation, such as oil and gas resources, that we are not permitted to present in documents filed with the United States Securities and Exchange Commission (SEC) under new Subpart 1200 to Regulation S-K because such terms do not qualify as proved, probable or possible reserves under Rule 4-10(a) of Regulation S-X.

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Corporate Highlights

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Guilherme Basílio

and Beatriz Dias

Solidarity with Rio Grande do Sul

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INTITUTIONAL DONATIONS

• R$ 7.6 million for the acquisition of basic needs for affected communities
• R$ 2 million in fuel (around 500 thousand liters)
• More than 600,000 liters of drinking water for shelters and Civil Defense
• 100 Chemical toilets to serve the population
• Provision of helicopter to transport supplies and boats to support the rescue of victims

OPERATIONS

• Refap continues to operate and meet all demands, with full attention to the safety of workers
• The Canoas Thermoelectric Power Plant was put into operation, in response to a request from the National Electric System Operator (ONS), contributing to greater security of energy supply to the metropolitan region of Porto Alegre

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Corporate Highlights

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Focus Mind Award

We received the United Nations Global Compact award as the company with highest leadership engagement

Regionalization

We inaugurated Petrobras University facilities at Torre Pituba - Salvador/BA

Training of New Employees

Almost 2,200 employees went through the training course, of which 1,857 are still being trained and 331 were trained and allocated to business areas in 1Q2024

Recruitment & Selection

Employees, Interns e Young Apprentices

• Launch of the largest edition of the current model of the Petrobras Young Apprentice Program, with more than 1,000 vacancies, in march 2024
• Selection process for ~200 vacancies in the Petrobras Internship Program, launched in January 2024
• Launch of initiatives aimed at encouraging increased diversity in leadership
• Conducting the Technical Level Public Selection Process Test, 03/24/2024, with the participation of more than 105 thousand people
• Hiring and onboarding of more than 700 new employees, in 1Q24

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Social Responsibility

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The Autonomy and Income Program will offer about 20 thousand vacancies in professional training courses

The program will provide professional training for the Energy sector for individuals in social vulnerability situations and without formal employment ties in locations within the scope of Petrobras' operations, as well as contribute to the implementation of the 2024 - 2028+ Strategic Plan. The program will offer an aid to participants and will prioritize the selection of women, Black people, people with disabilities, and refugees

The first Human Rights Due Diligence pilot has been carried out

Revap is the pioneer in the application of the new assessment methodology, which will reach 100% of the Refining and E&P units by 2026.

More than 350 projects are competing for investments of R$ 220 million

The Public Selection of the Petrobras Socioenvironmental Program has reached the mark of 357 registered projects in its second phase, which had the registration period closed at the end of February. A total of 28 projects will be selected, operating in the states of Rio de Janeiro, São Paulo, Espírito Santo, Minas Gerais, and the Pantanal biome (Mato Grosso or Mato Grosso do Sul)

Social Diagnosis

We have initiated studies involving data collection, interviews, structured questionnaires, georeferencing, and participatory dialogues in 780 communities to better understand the territories in which we operate

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Governance & Compliance

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Technical Cooperation Agreement whith SEST

We signed the Technical Cooperation Agreement with Secretary of Coordination and Governance of State-Owned Companies (SEST) for the improvement of corporate governance in state-owned companies

Inclusion of new internal controls

that support the company's statements related to climate change

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INTERNA

Financial

Highlights

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Sergio Leite

Chief Financial and Investor Relations Officer

Operational Highlights

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PRE-SALT PRODUCTION MILESTONE

Búzios: 1 billion barrels of oil

Tupi: 15 years of operation of our largest field with accumulated production of 2.6 billion boe

PROGRESS IN THE RAMP- UP OF NEW UNITS

FPSOs Almirante Barroso,

P-71, Anna Nery, Anita

Garibaldi and Sepetiba

HIGH UTILIZATION OF THE REFINING FACILITIES

Utilization factor of 92%, even with the scheduled stoppages at Replan and Repar

Higher production of jet fuel (92 kbpd) and lubricants (11 kbpd) since 1Q20 and 2Q19, respectively

PRODUCTION OF HIGH VALUE- ADDED OIL PRODUCTS

In line with seasonal demand: the share of diesel, gasoline and jet fuel in total production was 67%

PRE-SALT OIL

PROCESSING

Pre-salt oils repeat record percentage reached in 2Q23

R5 DIESEL

Start of operations at the R5 Diesel road loading station at RPBC - An important milestone in the start of sales of Diesel with renewable content in São Paulo

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Financial Highlights

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Adjusted

EBITDA

US$ 12.1 billion

(R$ 60 billion)

NET INCOME

US$ 4.8 billion

(R$ 23.7 billion)

1. OCF = Operational Cash Flow
2. FCF = Free Cash Flow
3. Exchange rate = R$5,1412

OCF1

US$ 9.4 billion

(R$ 46.5 billion)

FCF2

US$ 6.5

billion

(R$ 32.4 billion)

PROPOSED DIVIDENDS

US$ 2.6 billion

(R$ 13.4 billion)3

TAXES PAID

R$ 68.2 billion

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