Petroleo Brasileiro Sa · BMFBOVESPA:PETR3
Petroleo Brasileiro Sa — Petrobras - Petroleo Brasileiro — FY2025 Earnings Presentation
21 slides from Petroleo Brasileiro Sa's earnings presentation, Mar 6, 2026
Slide 1: 2025 Performance
2025 Performance P-78
Slide 2: Disclaimer
Disclaimer NON-SEC COMPLIANT OIL ‘AND GAS RESERVES: CAUTIONARY STATEMENT FOR US INVESTORS We present certain data in thi presentation, such as il and gas resources, that we are not ited to present in ts filed with the United Commission (SEC) under new Subpart 1200 to Regulation S-K because such term
Slide 3: CEO's message
Slide 4: Financial highlights 2025
FINANCIAL highlights 2025 Fernando Melgarejo CFO
Slide 5: Resilient results: Brent
Resilient results: BRENT Record production offset the impacts of lower Brent prices EBITDA
Slide 6: Downstream Performance: commitment to quality, value creation and emissions reduction
Downstream Performance: commitment to quality, value creation and emissions reduction We recorded growth in oil products sales } Wy in the domestic market, totaling 1,747 Mbpd. The highlight was the 5.2% increase in diesel sales. ° We reached a utilization factor of 91% BA in our refining system, wi
Slide 7: 2025 was an unprecedented year for our production
2025 was an unprecedented year for our production and we + PRODUCTION RECORDS Mero: monthly production record in exceeded our target October, with 652 mbpd Buzios platforms: operated production record of 1 MM bpd on Oct 29 COMMERCIAL PRODUCTION FPSO Marechal Duque de Caxias: daily OF OIL AND GAS - B
Slide 8: The yearly and future production are supported by CAPEX execution
The yearly and future production are supported by CAPEX execution ‘Nbr 2024 2025 E&P Segment = CAPEX USS billion —— Start-up of Offshore 44 producion wells 21 Nbr Average won cumulative 12% physical progress ee of platforms* % Well tie-ins 7 * Five Bizios platforms under construction: excludes P-84
Slide 9: 84% of the CAPEX executed in 2025 was in Exploration & Production
Slide 10: Main projects: Focus on execution, maintaining CAPEX levels
Main projects: Focus on execution, maintaining CAPEX levels Neral Mi FullLife ‘Full Life Beste Capacity Petrobras as ote'2m gp ate 30 Beg i USS bition USS ilion Buzios 6 (P-78) 180 89 52 54 Biizios 7 (Alm. Tamandaré) 225 89 22 21 Biizios 8(P-73) 180 89 57 51 Buzios 9(P-80) 225 89 63 65 Buzios 10 (P-
Slide 11: We reached the highest Proven Reserves of the last years
We reached the highest Proven Reserves of the last 10 years ORGANIC RESERVE REP EACE VENT, RATIO RESERVES / PRODUCTION Petrobras vs. Peers years PROVEN RESERVES Petrobras vs. Peers billion b all Our best result a 1 in 10 years 7 4s Replacement was fully organic Source: Prepared by the company based
Slide 12: The start-up of new FPSOs impacted our debt
The start-up of new FPSOs, which enabled production growth, impacted our debt The increase reflects the cost of new FPSOs leasings, in addition to borrowings USS billion ai 645 68.1 707 69.8 mm Leasings mm Loans (Financial Debt) —e-Net Debt © Gross Debt 2023 2024 1925 2025 3025, 4025, FPsoAIm FPSOAl
Slide 13: Commitment to distributing the results generated
Commitment to distributing the results generated Solid Shareholder Remuneration Policy ensures dividends compatible with different oil prices ( TOTAL Benes — PAYMENTS REMUNERATION 4925 ay i RS8.7 billion 1**installment on 05/20 Policy Formula R$ 0.626 per share © IOE:R$ 0.313/share 45% x FCF Record
Slide 14: Contribution to society in 2025
Contribution to society in 2025 Petrobras invested R$ 112.9 billion (Capex US$ 20.3 billion) These investments were responsible for sustaining 308,000 jobs Our investments represented 5.2% of Brazilian investment We paid R$ 277.6 billion in taxes to the federal government, states, and municipalities
Slide 15: Slide 15
Slide 16: Operational highlights
OPERATIONAL HIGHLIGHTS © » we Fd
Slide 17: Operational Highlights 2025
Operational Highlights 2025 New Discoveries We had 5 new discoveries: 2 in Aram, 1 in Buzios West, 1 in Brava North and 1 in Tartaruga Verde. Acquisition of 3 exploration blocks in Pelatas Basin, 10 blocks in Foz do Amazonas, and Jaspe and Citrino blocks in the pre- salt in Sao Tomé and Principe. Ac
Slide 18: Operational Highlights 2025
Operational Highlights 2025 ah REFINING PROJECTS RNEST: We completed the revamp works of Train 1 and contracted the units for Train 2. REPLAN: With the new HDT, we increased the production capacity of S-10 diesel by up to 63, mbpd and jet fuel by up to 21 mbpd. REVAP: The revamp of the HDT increased
Slide 19: 2025 Operational Highlights
2025 Operational Highlights ey ‘SOLAR ENERGY We entered the solar generation sector througha joint venture with Lightsource bp, acquiring 49.99% of the company's subsidiaries in Brazil ® EcoVadis ASSESSTMENT Wemade progress in our sustainability assessment with EcoVadis and achieved one of the highe
Slide 20: 2025 Operational Highlights
2025 Operational High ENVIRONMENTAL LICENSING In 2025, 77 licenses and 56 authorizations were issued, and the highlight were the drilling icense for the Morpho well, the Operating License for Alexandre Gusmao and P-78; the Preliminary License for Stage 4 of the Santos Basin an ithorizations for incr
Slide 21: Questions
Fernando Sabbi Melgarejo Fernando Sabbi Melgarejo SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: March 5, 2026 PETRÓLEO BRASILEIRO S.A–PETROBRAS
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