Petrobras Approves Additional Payment of Remuneration to Shareholders

Source: www.gulfoilandgas.com 10/28/2021, Location: South America

Petrobras informs that its Board of Directors, at a meeting held , approved the payment of a new anticipation of remuneration to shareholders for fiscal year 2021, in the total gross amount of R$ 31.8 billion (about US$ 6 billion), equivalent to R$ 2.437865 per common and preferred share outstanding.

This payment added to the R$ 31.6 billion announced on August 4, 2021, totals R$ 63.4 billion (about US$ 12 billion) in anticipation to shareholders related to 2021 fiscal year. The distribution considers Petrobras' expected results and cash generation for 2021, being compatible with the company's financial sustainability, without compromising its trajectory of debt reduction and liquidity, in line with the principles of the Dividend Policy.

The additional amount will be paid in December, together with the amount already approved on August 4, 2021, with record date on December 1st, 2021 and payment on December 15, 2021. Therefore, the total amount to be paid in December will be distributed as follow:

Amount to be paid in December: R$ 42.4 billion, equivalent to R$ 3.250487 gross value per common and preferred share outstanding, being: (a) R$ 10.6 billion, equivalent to R$ 0.812622 gross value per common and preferred share outstanding, approved on August 4, 2021; (b) R$ 31.8 billion, equivalent to R$ 2.437865 gross value per common and preferred share outstanding, approved on October 28,2021.

Record date: December 1st, 2021 for holders of Petrobras shares traded on B3, and December 3rd, 2021 for ADR holders. Petrobras shares will be traded ex-dividends on B3 and NYSE as of December 2nd, 2021.

Payment date: for holders of Petrobras shares traded on B3 payment will be made on December 15, 2021. ADR holders will receive the payment on December 22, 2021.

Form of distribution: Petrobras will declare and communicate the form of distribution (dividends and/or interest on equity) prior to the record date.

The amounts paid in advance to shareholders as dividends and/or interest on equity, readjusted by the Selic rate from the payment date until the end of the year, will be discounted from the mandatory minimum dividends, including the minimum dividend owed to preferred shares.


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