OTC 2024 - Future-proofing the business: Innovation at the center of the long-term strategy

Future-proofing the business

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Innovation at the center of the long-term strategy

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Disclaimers

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You must read the following before continuing. The following applies to this document, the oral presentation of the information in this document by Petróleo Brasileiro S.A. - Petrobras (together with its subsidiaries, the "Company") or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation.

By receiving these materials and/or attending this presentation, you agree to be bound by the following terms and conditions and acknowledge the statements below.

Neither the Company nor any of its affiliates, directors, officers, agents or employees shall be de have any liability whatsoever for any loss or damage arising from any use of these materials or their contents or otherwise arising in connection with these materials or the presentation. No recipient of these materials or attendee to this presentation should construe the contents of these materials as legal, tax, accounting or investment advice or a recommendation to buy, hold or sell any security, or an offer to sell or a solicitation of offers to purchase any security. Each recipient and attendee should consult its own counsel and tax and financial advisors as to legal and related matters concerning the matters described herein.

These materials contain non-IFRS financial measures used by the Company's management when evaluating results of operations. The Company's management believes these measures also provide useful comparisons of current results of operations with past and future periods. Non-IFRS financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similar

measures presented by other companies.

These materials may contain forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange Act of 1934, as amended that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like "believe", "anticipate", "expect", "envisages", "will likely result", or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation. In no event, neither the Company nor any of its affiliates, directors, officers, agents or employees shall be liable before any third party for any investment or business decision made or action taken in reliance on the information and statements contained in this presentation or for any consequential, special or similar damages.

CAUTIONARY

STATEMENT

We present certain data in this presentation, such as oil and gas resources and reserves, that are not prepared in accordance with the United States Securities and Exchange Commission (SEC) guidelines under Subpart 1200 to Regulation S-K, and are not disclosed in documents filed with the SEC, because such resources and reserves do not qualify as proved, probable or possible reserves under Rule 4-10(a) of Regulation S-X.

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Technological innovation has been the basis for Petrobras' pioneering spirit over 70 years and will drive the construction of the future

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US$3.6 billion in R&DI	Increase participation in
decarbonization and new
from 2024 to 2028
energy to 30% in 2028

Comparison to other O&G companies:

Comparison to other U.S. institutions 2024 budget requests:

PÚBLICA	Source: Evaluate Energy

Innovation to create opportunities and evolve production

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Awarded

1992

2001

2015

2020

2024

Technical achievements related to the development of deepwater production systems in Marlim field (Campos Basin)

Advances in technologies and cost effectiveness in deepwater development projects of Roncador field (Campos Basin)

Set of technologies developed for oil and gas production in the pre-salt layer

Set of innovations developed to enable production in the Búzios field, in the Santos Basin pre-salt

Deployment of a wide set of new technologies for the successful revitalization of the Marlim Field and the entire deepwater Campos

5 TIMES

by OTC

Highest award of the

world's oil industry

Basin, unlocking new paths for mature deepwater asset redevelopment, with significant reduction in greenhouse gas emissions in pre-salt

Awarded 2 times in the

Brazilian edition

PÚBLICA 2019	2023	5

Petrobras' 21st century R&D strategy explained in 3 steps

Creating World Class	Creating Skills	Reinvent the
Infrastructure in Brazil	and Relationships	business
2000	2010	2020+

PETROBRAS R&D

INVESTMENT FROM + USD 15 Billion 2001 TO 2023

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Step 1

Creating World Class

Infrastructure in Brazil

Largest R&D Center

in Latin America (CENPES)

308,000 m²		4,600
Total area	116	Equipment
	Labs

+R$ 3 Billion invested

in R&D Infrastructure

on the main universities in Brazil

+300 +10,000

LabsEquipment

Step 2

Creating Skills

and Relationships

Solid Human Capital

+200	+900	+9000
Innovation	Internal	External
Partners	researchers	researchers

Our qualified Teams spend

25%+time dedicated to R&D

than the average of researchers in Academia.

+8,000

+24,000

books	+6x more articles
published
papers
per researcher

Step 3	New legal framework for innovation provides
Reinvent the
business	breeding ground to develop new technologies in Brazil

By offering new legal	Innovation
Act reviewed
instruments to tackle
2016
problems without
off-the-shelf solutions

Innovation

agreements

Technological risk on contracting party

Focus on defining the challenge

Highest probability of success as selection criteria

New Public	Pre-commercial	Startups Act
companies Act	Procurement Decree	approved
2016	2018	2021

Standard

procurement

Technological risk on the supplier

Detailed solution prescription

Lowest price as selection criteria

Step 3

Reinvent the business

From Lower to Higher maturity levels

Open innovation hub with hundreds of

challenges published since 2019

To find the best Universities, Science Institutes Startups

and companies

And create win-win partnerships to develop and test

technologies with Petrobras