Petroleo Brasileiro Sa · BMFBOVESPA:PETR3
Petroleo Brasileiro Sa — Q1 2026 Earnings Presentation
14 slides from Petroleo Brasileiro Sa's earnings presentation, May 12, 2026
Slide 1: Performance 1Q26
Performance 1Q26 — Webcast May 12, 2026 Nova Piratininga Thermal Power Plant One of the nine power plants awarded to Petrobras in the 2026 Power Capacity Reserve Auction
Slide 2: Disclaimer
Disclaimer — The presentation may contain forwardlooking 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 assurances of future result
Slide 3: Operational highlights 1Q26
Operational highlights 1Q26 — NEW DISCOVERIES New pre-salt discovery in Campos Basin, in PRODUCTION RECORDS ACQUISITION OF NEW ACREAGE AND exploratory well (1-BRSA-1404DC-RJS) We set records for total operated RIGHTS drilled in Sector SC-AP4 of Campos Basin, production (4.65 million boed) and to
Slide 4: Operational highlights 1Q26
Operational highlights 1Q26 — OIL PRODUCTS OUTPUT LOWER LPG IMPORTS (26 mbpd) In 1Q26, we produced 1.816 mbpd This achievement is due to production at the Boaventura Energy of refined products, up 6.7% versus Complex, combined with increased utilization of the refining facilities. 4Q25, and 68%
Slide 5: Operational highlights 1Q26
Operational highlights 1Q26 — LAUNCH OF THE HUMAN RIGHTS AND ENVIRONMENTAL LICENSES AND OTHER AUTHORIZATIONS: CORPORATE CITIZENSHIP SUPPLEMENT PREDICTABILITY AND OPERATIONAL CONTINUITY The document is part of our initiatives to promote human rights and respect for the environment. We achieved impo
Slide 6: We are focused on increasing our production
We are focused on increasing our + PRODUCTION RECORDS production Búzios: platforms reached an operated production level of 1.082 million barrels — on April 1. Mero: production reached a monthly average of 721,000 bpd for the first OWN OIL PRODUCTION NEW PRODUCTION UNITS time in April, following the
Slide 7: Effective CAPEX execution, delivering high returns
Effective CAPEXexecution, delivering high returns — CAPEX EVOLUTION OF E&P CAPEX BY ACTIVITY US$ billion US$ billion 1Q25 1Q26 1Q26 physical progress 25.6% WELLS 1.00 1.11 Offshore wells: 1.23 10 drilled -19.1% SUBSEA ACTIVITIES 0.70 12 completed PLATFORMS CONSTRUCTION 0.90 1.10 Subsea: 6.3
Slide 8: In Downstream, we continue to deliver operational excellence and consistent results
In Downstream, we continue to deliver operational excellence and consistent results — TOTAL OIL PRODUCTS UTILIZATION FACTOR OUTPUT % mbpd 97.4% +6.7% Mar. 26 1,816 90% 89% 95% 1,706 1,702 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 • Middle distillates (diesel and jet fuel) and gasoline accounted for 68% of total
Slide 9: Our operational performance boosted financial results
Our operational performance boosted financial results EBITDA NET INCOME OCF — US$ billion 10.2% US$ billion US$ billion -1.2% 12.6% 7.3% -17.3% - 4.5% 10.4 10.7 11.1 10.9 11.3 11.7 10.2 8.5 8.4 6.0 6.2 4.0 4.7 4.5 2.9 1T25 4T25 1T26 1T25 4T25 1T26 1T25 4T25 1T26 Adjusted EBITDA Net income Operationa
Slide 10: Debt
Debt Gross debt is expected to converge toward the US$ 65 billion level projected in the 2026–30 Business Plan. — 2026-30 BP US$ billion PROJECTIONS 69.8 71.2 67.0 65.0 Leasing 43.4 43.7 42.0 41.0 Financial Debt Gross Debt 26.4 27.5 25.0 24.0 2025 1Q26 2026 2027-2030* *Considers the average of the a
Slide 11: Monitoring of the 2026-30 Business Plan Projections
Monitoring of the 2026-30 Business Plan Projections — Our projections remain unchanged, even though we are working to anticipate projects and exceed our production goals. We continue to monitor the external scenario and its impact on prices and costs. OIL PRODUCTION MMbpd Main levers supporting pr
Slide 12: Contribution to society in 1Q26
Contribution to society in 1Q26 — R$ 72.4 billion in taxes FEDERAL STATE TAXES TAXES R$ 27.3 billion R$ 29.6 billion MUNICIPAL GOVERNMENT TAXES TAKE R$ 0.7 billion R$ 14.8 billion 12
Slide 13: Final Remarks
Final Remarks — Higher oil prices do not change our commitment to disciplined capital allocation and responsible investment execution. We remain focused on increasing our production through operational efficiency and proper management of our assets. We are committed to our governance, an essential p
Slide 14: Performance 1Q26
Performance 1Q26 — Webcast May 12, 2026 Nova Piratininga Thermal Power Plant One of the nine power plants awarded to Petrobras in the 2026 Power Capacity Reserve Auction