Sale Process of Petrobras Biocombustible Advances. State Company Issues Invitation Letters to Qualified Interested Parties in the Previous Phase

Petrobras Biocombustível Is One of the Largest Biodiesel Producers in the Country. It Has Three Plants Located in Montes Claros, Minas Gerais

Petrobras announced last night (30/09) that it has initiated the binding phase regarding the sale of its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBIO), where invitation letters have been issued by the state-owned company to eligible interested parties from the previous phase. Imetame Buys Petrobras for Nearly 10 Million Dollars, Onshore Fields of the Lagoa Parda Pole in Espírito Santo

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According to Petrobras’s note, this transaction consists of the sale of 100% of Petrobras’s shares in PBIO, including three biodiesel plants, and does not include the sale of PBIO’s equity stakes in BSBios (50.0%) and Bambuí Bioenergia (8.4%).

Petrobras emphasizes that the operation is aligned with the company’s portfolio optimization strategy and the improvement of capital allocation, aiming to maximize value for its shareholders.

About PBIO – Petrobras Biocombustível

PBIO was founded in 2008 and is one of the largest biodiesel producers in the country with a 5.5% market share in 2019. It has three biodiesel plants located in: (a) Montes Claros, in the state of Minas Gerais (MG), with a production capacity of 167 thousand m3/year; (b) Candeias, in the state of Bahia (BA), with a production capacity of 304 thousand m3/year; and (c) Quixadá, in the state of Ceará (CE), in a state of hibernation with a production capacity of 109 thousand m3/year.

The three plants can use a blend of up to 5 different raw materials (soy oil, cotton oil, palm oil, animal fat, and used oils) for biodiesel production, capturing advantages in the seasonal price dynamics.

The divestment projects for the stakes held by PBIO in BSBios and Bambuí Bioenergia are underway, and relevant information regarding these projects will be promptly disclosed to the market in accordance with applicable legislation and guidelines established in PBIO’s Divestment Procedure.