Petroleo Brasileiro Sa · BMFBOVESPA:PETR3
Petroleo Brasileiro Sa — Q3 2025 Earnings Presentation
18 slides from Petroleo Brasileiro Sa's earnings presentation, Nov 7, 2025
Slide 1: Performance Webcast, 7th of November 2025
Performance c Webcast 7th of November, 2025 P-78 Arrival at the Búzios Field in September 2025
Slide 2: Disclaimer
Disclaimer — The presentation may contain forwardlooking We undertake no obligation to publicly update or statements about future events that are not based on revise any forward-looking statements, whether as a historical facts and are not assurances of future result of new information or future eve
Slide 3: Operational highlights
Operational highlights — PRODUCTION RECORDS UNITS IN BÚZIOS NEW VESSELS NEW EXPLORATORY We reached a new record in FPSO Almirante Tamandaré: We signed a lease AREAS total oil and natural gas Peak production at 225 mbpd, contract for 4 ROV We acquired the Jaspe block, production, with 3.14 MM with on
Slide 4: Operational highlights
Operational highlights — BOAVENTURA COMPLEX SALES OF OIL LOW-CARBON LICENCES We signed 5 contracts for the construction PRODUCTS AND OIL PRODUCTS Obtaining relevant licenses of units that will expand the production of for the Business Plan: We increased oil product REDUC: ISCC international Diesel S
Slide 5: Operational highlights
Operational highlights — CCS SÃO TOMÉ NATURAL GAS PROCESSING RECOGNITION AND AWARDS We approved the The processing plants in Cabiúnas, Distinguished Achievement Award da OTC Brasil, for technological construction of the CCS São Caraguatatuba, Itaboraí, and innovations in Búzios 7, setting new benchm
Slide 6: Highlights 3Q25
highlights 3Q25 — Fernando Melgarejo CFO
Slide 7: 3Q25 Financial Results
3Q25 Financial Results — EBITDA 3Q25 NET INCOME 3Q25 excluding one-off events excluding one-off events US$ 12.0 billion US$ 5.2 billion +17% vs 2Q25 +28% vs 2Q25 DIVIDENDS 3Q25 R$ 12.2 billion +40% vs 2Q25 OCF 3Q25 FCF 3Q25 US$ 9.9 billion US$ 5.0 billion +31% vs 2Q25 +44% vs 2Q25 7
Slide 8: Consistent Growth in Production and Sales
Consistent Growth in Production and Sales — TOTAL PRODUCTION Mboed OIL SALES OIL PRODUCTS SALES 17% Mbpd Mbpd 8% 3,144 5% 2,923 31 2,689 31 594 14% 35 559 525 1,771 1,714 1,804 863 981 748 2,334 2,520 2,129 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 Oil Gas Oil and Gas - abroad 8
Slide 9: Operational efficiency sustained robust financial results amid new Brent scenario
BRENT US$/bbl Our operational efficiency sustained 2% robust financial results amid a new 80.2 67.8 69.1 Brent prices scenario — 3Q24 2Q25 3Q25 Adjusted EBITDA NET INCOME OCF excluding one-off events excluding one-off events US$ billion US$ billion US$ billion 17% 31% 11.6 12.0 28% 10.2 11.3 9.9 7.5
Slide 10: CAPEX Execution
CAPEX Execution E&P CAPEX Evolution by Activity US$ billion — 2Q25 3Q25 3Q25 Wells: 20 drilled and CAPEX by Segment 3Q25 WELLS 1.10 1.17 10 completed US$ 5.5 billion 1.21 Sub: 23 interconnections and SUBSEA ACTIVITIES 0.88 6 pre-lay activities at Búzios 6 G&LCE 1.40 Platforms: major milestones at 1.
Slide 11: Total Capex vs. Cash Capex
Total Capex vs. Cash Capex — Excluding the 4Q24 carry-over, the ratio of total Capex to cash Capex was 89% TOTAL CAPEX vc. CASH CAPEX US$ billion 1.2 0.2 -1.9 -0.5 14.0 12.9 Total CAPEX 9M25 Leases Geology and Contractual¹ Others² Cash CAPEX 9M25 Geophysics milestones ¹ Contract milestones includes
Slide 12: Debt
Bond maturing in 2030 Debt • Lowest spread over US Treasuries since 2001. — • Lowest spread over the We issued two new bonds in September, due in 2030 and 2036, sovereign bond since 2002. each amounting to US$ 1 billion Bond maturing in 2036 US$ billion • Lowest spread over US Treasuries since 2011.
Slide 13: Commitment to distributing results
Commitment to distributing results — Strong Shareholder Remuneration Policy ensures dividends consistent with different oil prices DIVIDENDS 3Q25 PAYMENT ASSUMPTIONS R$ 12.2 billion 1st installment on 02/20/26 • Financial Sustainability of the Company R$ 0.94 per share • R$ 0.47 per share • Capital
Slide 14: Taxes paid in 3Q25
Taxes paid in 3Q25 — The contributions through taxes already amount to R$ 199.6 billion in 2025 FEDERAL TAXES STATE TAXES R$ 22.7 billion R$ 29.7 billion MUNICIPAL TAXES GOVERNMENT TAKE R$ 0.5 billion R$ 15.1 billion R$ 68 billion in taxes in 3Q25 Obs.: Cash perspective 14
Slide 15: We started drilling the Morpho well, off Amapá's coast
We started drilling the Morpho well, located off Amapa’s coast — Morpho (1-APS-57) FRENCH WATER WELL GUIANA DEPTH DEPTH Oiapoque 2,880 m 7,081 m DISTANCE TO DISTANCE AMAZONA’S RIVER TO COAST MOUTH 540 km 175 km NS-42 drilling rig Publicity: Foresea AMAPÁ EXPLORATION LICENSE GRANTED ON OCTOBER 20 We
Slide 16: Additional capacity in our FPSOs
Additional capacity in our FPSOs — IBAMA approved the expansion of FPSO Almirante Tamandaré capacity – from 220 to 270Mbpd – and five other platforms. Impacts for Petrobras Total additional capacity will be 115 Mbpd • Petrobras’ share: ~90 Mbpd FPSO Almirante Tamandaré Búzios field 16 INTERNA
Slide 17: Questions
QUESTIONS
Slide 18: Performance Webcast
Performance c Webcast 7th of November, 2025 P-78 Arrival at the Búzios Field in September 2025