Petroleo Brasileiro Sa · BMFBOVESPA:PETR3
Petroleo Brasileiro Sa — Q2 2026 Earnings Presentation
14 slides from Petroleo Brasileiro Sa's earnings presentation, Aug 7, 2026
Slide 1: 2Q26 Performance
2Q26 P-79 Our eighth platform in the Búzios Field Performance — Webcast August 7, 2026
Slide 2: Disclaimer
Disclaimer — The presentation may contain forward-looking gas reserves, international and Brazilian statements about future events that are not political, economic and social developments, based on historical facts and are not receipt of governmental approvals and licenses NON-SEC COMPLIANT OIL assu
Slide 3: Operational Highlights - 2Q26
Operational Highlights - 2Q26 — PRODUCTION INCREASE: BETTER ACQUISITION OF NEW BLOCKS AND E&P PROJECTS’ PROGRESS OPERATIONAL EFFICIENCY AND RIGHTS P-79: first oil in May, and gas injection 56 days RESERVOIR MANAGEMENT Acquisition of work interest and after first oil, a new record for owned units
Slide 4: Operational Highlights - 2Q26
Operational Highlights - 2Q26 — REFINERY UTILIZATION FACTOR SAF SALES OPERATIONAL EFFICIENCY AND ASSET (FUT) RECORD We sold 6.1 thousand m³ of Sustainable INTEGRATION • Quarterly FUT record of 101.2% in 2Q26, Aviation Fuel (SAF), produced via co-processing Lowest level of diesel and crude oil im
Slide 5: Operational Highlights - 2Q26
Operational Highlights - 2Q26 — NATURAL GAS ENVIRONMENTAL LICENSES OBTAINED • To mitigate international price volatility, we introduced a Brent-linked price band OPERATING LICENSES mechanism for natural gas sales. It sets Operating License for FPSO P-79 (Búzios 8) minimum and maximum price limits
Slide 6: Operational Highlights - 2Q26
Operational Highlights - 2Q26 — PUBLICATION OF THE 2025 BRAZILIAN CORPORATE GOVERNANCE SUSTAINABILITY REPORT AND ITS CODE REPORT (CBGC Report) ESG DASHBOARD SUPPLEMENT Completed the 2026 Brazilian Corporate The report highlights the company's progress Governance Code Report (CBGC Report) in its
Slide 7: We reached a record level of 2.7 MMbpd
We reached a record level of 2.7 MMbpd This result represents an increase of 15% compared to 2Q25 and 4% compared to 1Q26 — OWN OIL PRODUCTION - BRAZIL Increase of 70 thousand bpd (vs. 2Q25) due to higher mbpd operational efficiency and reliability of production systems +15% P-79 start-up in Búzios,
Slide 8: Efficient Capex Execution
Efficient Capex Execution — PHYSICAL PROGRESS CAPEX 2Q26 Number of offshore wells US$ billion Drilled Completed Interconnected 82% 40% 45% 43% 4.3 14 16 20 10 11 14 5.3 0.2 1Q26 2Q26 1Q26 2Q26 1Q26 2Q26 3% 0.1 0.7 2% 13% Consistent progress on Búzios’ upcoming units (P-80, P-82 and P-83) E&P RTM
Slide 9: We expanded the supply of domestically-produced oil products, reducing the need for imports
We expanded the supply of domestically-produced oil products, reducing the need for imports Record utilization factor of our refineries, with 68% of production concentrated in Diesel, Jet fuel and Gasoline — UTILIZATION FACTOR OIL PRODUCTS OUTPUT % mbpd 5.6% 6 p.p. 1,730 1,816 1,918 91 95 101 2Q25 1
Slide 10: Financial results driven by our operational performance
Financial results driven by our operational performance — EBITDA NET INCOME OCF US$ billion US$ billion US$ billion 95% 70% 170% 63% 20.0 144% 46% 18.6 10.2 11.3 11.7 10.4 11.1 12.3 9.2 8.4 4.7 6.2 7.5 4.1 4.5 2Q25 1Q26 2Q26 2Q25 1Q26 2Q26 2Q25 1Q26 2Q26 Adjusted EBITDA Net income Operating Cash Flo
Slide 11: Debt reduction
Debt reduction — US$ billion BP 2026-30 69.8 71.2 70.8 65.0 Leasing 60.6 62.1 60.4 Financial Debt 43.4 43.7 45.0 41.0 Net Debt Gross Debt 26.4 27.5 25.8 24.0 2025 1Q26 2Q26 2027-2030* US$ billion Adjusted cash and cash 9.2 9.1 10.4 equivalents Early redemption of the 7.375% Global Notes due 2027, in
Slide 12: Monitoring of 2026 projections of the 2026-30 Business Plan
Monitoring of 2026 projections of the 2026-30 Business Plan — OIL PRODUCTION MMbpd 2.6 2.5 ±4% 1H26 2026 Projection CASH CAPEX MANAGEABLE LEASE PAYMENTS US$ billion OPERATING EXPENSES US$ billion US$ billion 16.9 20.2 10.0 ±5% 9.1 11.7 5.2 1H26 2026 1H26 2026 1H26 2026 Projection Projection Projecti
Slide 13: Strong results boosted tax revenues
Strong results boosted tax revenues — TAXES PAID* - 2Q26 EVOLUTION OF TAXES PAID R$ billion R$ billion + 22 bi 22.4 34.2 R$ 88 BILLION 88.6 ANNUALIZED 0.5 88.6 The increase of R$ 22 billion 31.5 72.4 in taxes paid in 2Q26 compared 66.2 to 2Q25 is equivalent to R$ 88 billion in additional revenue on
Slide 14: 2Q26 Performance
2Q26 P-79 Our eighth platform in the Búzios Field Performance — Webcast August 7, 2026