MATERIAL FACT PRODUCTION OF THE FIRST WAHOO WELL
Rio de Janeiro, March z3, zoZ6 - PRIO S.A. bthe "Company" or "PRIO") (B3: PRIO3), further to the Material Fact disclosed on March 19, Z026, informs that the first producing well of the Wahoo Field has reached stabilized production of 1Z,00o barrels of oil per day.
The schedule for bringing the remaining wells online remains as planned, with the expectation that the Wahoo Field will reach production of 40,OOo barrels per day by the end of April. The start of production at Wahoo represents a milestone in the Company's growth strategy. Located in the pre-salt layer of the Campos Basin, the Field was developed through a subsea tieback of approximately 35 km to the FPSo Valente, optimizing the use of existing infrastructure. PRIO will keep the market informed of the start of production of the remaining wells.About PRIO
PRIO is the largest independent company in the oil and gas production in Brazil. The Company s corporate culture seeks to increase production through the acquisition of new production assets, the re-exploration of assets, increased operational efficiency and reduction of production costs and corporate expenses. PRIO's main objective is to create value for its shareholders with growing financial discipline and preserving its liquidity, with full respect for safety and the environment. For further information, please visit the Company's website: https://www.petroriosa.com.br.
Disclaimer
This news release contains forward-looking statements. All statements other than statements of historical fact contained in this news release are forward-looking statements, including, without limitation, statements regarding our drilling and seismic plans, operating costs, acquisitions of equipment, expectations of finding oil, the quality of oil we expect to produce and our other plans and objectives. Readers can identify many of these statements by looking for words such as "expects", "believe", "hope" and "will" and similar words or the negative thereof. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. By their nature, forward-looking statements require us to make assumptions and, accordingly, forward-looking statements are subject to inherent risks and uncertainties. we caution readers of this news release not to place undue reliance on our forward-looking statements because a number of factors may cause actual future circumstances, results, conditions, actions or events to differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements and the assumptions underlying the forward-looking statements.