Petrobras Signs Equalization Agreement for Jubarte Pre-Salt

Petróleo Brasileiro S.A. – Petrobras has signed the Expenses and Volumes Equalization Agreement (AEGV) with PPSA (Pré-Sal Petróleo S.A.) for the Jubarte Pre-Salt Shared Reservoir. The agreement results from the Production Individualization Agreement (AIP) approved by Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP). Petrobras will pay PPSA R$ 1.54 billion in a single installment by the end of October, with R$ 1.47 billion already provisioned in the 2Q25 financial statements. The negotiation process for equalization with partners in the Argonauta Field is ongoing and will be disclosed upon conclusion. The AIP defines the proportional shares of each company in the shared reservoir, with Petrobras holding 97.250%, Shell 0.430%, Brava 0.198%, ONGC 0.232%, and the Brazilian Union (represented by PPSA) 1.890%. The AEGV reconciles revenues, expenses, and payments in proportion to the parties’ shares in the shared reservoir, covering the period from August 6, 1998, to July 31, 2025.