Petroleo Brasileiro SA · BMFBOVESPA:PETR3
Petroleo Brasileiro SA — Petrobras - Petroleo Brasileiro — Q3 2026 Earnings Presentation
17 slides from Petroleo Brasileiro SA's earnings presentation, Nov 12, 2026
Slide 1: 3Q26 Performance Webcast
35Q26 Performance Webcast November 11, 2026 cs [Bry PETROBRAS
Slide 2: Disclaimer
Disclaimer ‘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, industr
Slide 3: Operational Highlights — 3Q26
Operational Highlights — 3Q26 OPERATIONAL EFFICIENCY AND TECHNOLOGICAL INNOVATION » Record for total own production of 3.51 MM boed, including 2.96 MM boed in pre- salt «Record for total operated production of 5.08 MM boed © Bazios platforms surpassed the milestone of 11MM m'/d in average natural ga
Slide 4: Operational Highlights — 3Q26
Operational Highlights — 3Q26 ah OIL PRODUCT OUTPUT We achieved record diesel production of 769 bpd + Production increased by 7.2% compared to M25, reaching 1,869 mbpdin M26, of which 68% consisted of higher value-added refined products: diesel, gasoline and jet fuel © We maintained a high refinery
Slide 5: Operational Highlights — 3Q26
Operational Highlights —3Q26 ep +e DECARBONIZATION ‘We obtained the environmentallicense and signed contracts for the Sao Tomé CCS Pilot Project, a pioneering initiative to test the ‘entire carbon capture and storage chain in a saline reservoir Rota Verde Program: We started testing fuel with renewa
Slide 6: Successive record-breaking raise production to a new level
Successive record-breaking raise production to a new level 25 fr + Efficiency Improved operational efficiency, with the strongest efficiency metric since 4018 and lower production losses due to maintenance shutdowns + Capacity 11 platforms safely operated above their original design capacity, in 202
Slide 7: Increased production capacity on our platforms without additional investments
Increased production capacity on our platforms without additional investments ADDITIONAL CAPACITY IN 2026 +11 +19 +19 +24 +45 bpd bpd bpd bpd bpd bpd ‘Authorization to increase production capacity by up to 282 mbpd Atapu Bizios 2 Bazios 4 Suers \izios 7 Bizios 6 FPSO P-70 FPSOP-75 FPSOP-77 FPSO FPSO
Slide 8: Management efficiency drives higher production guidance for 2026
Management efficiency drives higher production guidance for 2026 OIL PRODUCTION MMbpd 2.71 New target: 27t028 9M26 2026 Forecast New Forecast Actual BP 2026-30 2026 Ei Etfdene suns rough improved operating perermance of SIF production units, lower losses due to shutdowns, and optimized reservoir man
Slide 9: Investments pave the way for future production records
Investments pave the way for future production records CAPEX 9M26 PHYSICAL PROGRESS 9M26 US$ billion Progress on our FPSOs Subsea 53 tie-ins, highlighting: Bazios Food tama -80, P-82 and P-83 (225 mbpd* each) * BUZ 6 and 8 tie-in campaign +90% of physical construction progress BL complementary walls
Slide 10: Higher efficiency in investment execution drives production growth
Higher efficiency in investment execution drives production growth With higher Brent prices, we accelerated project execution BRENT 100 63 2026 Forecast 2026 Average BP 2026-30 Estimate Capex initially planned for 2026. 2026-30 Business Plan assumed a Brent price of approximately US$ 60/bbl for 2026
Slide 11: New guidance reflects project acceleration, growth in operations and exchange rate impact
New guidance reflects project acceleration, growth in operations and exchange rate impact CASH CAPEX ———)_ ~~ MANAGEABLE OPERATING EXPENSES 9=——— USS billion ‘USS billion Speeding up the execution mi 25.5 The increase tracks higher of strategic projects 16.9 . 20.2 ay production and cash contributed
Slide 12: New OCF guidance points to additional cash generation
New OCF guidance point to up to US$ 15 billion in additional cash generation OCF USS billion ap New Forecast 2026 + Higher production curve * Growth in oil products output + New level of Brent prices
Slide 13: High availability of the refining system boosts diesel production
High availability of the refining system boosts diesel production We set anew quarterly record for diesel production at 769 mbpd OIL PRODUCTS OUTPUT DOMESTIC MARKET SALES mbpd- mbpd- | oy | | d ~ 2026 3026 3925 2026 3026 IMPORTS <p EXPORTS mbpd mbpd 6% 14%
Slide 14: Strong cash generation reflecting record operational performance
Strong cash generation reflecting record operational performance 3925 2026 3026 EBITDA USS billion 3925 Mi Adjusted EBITDA W Adjusted EBITDA excluding one-off events 2026 3026 NET INCOME USS billion OCF USS billion 7041.1 60). 3025 2026 3026 3025 2926 3026 Net income Operational Cash Flow Wet income
Slide 15: High cash generation enabled reduction in net debt
High cash generation enabled reduction in net debt USS billion BP 2026-30 mm Leasing 1 2 2027-2030" UsSbillion (s Make whole related to 5.999% Global Notes due 2028, of USD 1.08 billion ‘Considers the average of annual forecasts disclosed in the BP 2026-30
Slide 16: Higher contribution to society: taxes paid in 9M26 were the highest on record
Higher contribution to society: taxes paid in 9M26 were the highest on record CUMULATIVE TAXES PAID R$ billion 251.3 202.4 94.0 775 97.6 773 Ww 16 46.5 58.1 9M24 9M26 MmGoverment take mm Municipal mmiFederal mmState —Total * Cash basis
Slide 17: Signatures
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: November 10, 2026 PETRÓLEO BRASILEIRO S.A–PETRO
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