Petrobras informs that it is continuing discussions with Mubadala Capital regarding the formation of a downstream partnership in Brazil, the scope of which involves the evaluation of the acquisition of a stake in Refinaria de Mataripe SA (RefMat) and a project under development for an integrated biorefinery (Biorefinery).

The company will begin the business evaluation phase, which will cover due diligence of the assets, as well as analysis of the appropriate business model for each one. The scope of potential future investments and development of new technologies in conjunction with Mubadala Capital will also be discussed.

Petrobras and Mubadala Capital inform that they have not signed any binding document on the partnership to date and reinforce that the partnership analysis process will be carried out with respect to the processes and internal governance of both companies, the people and the commitments made with governments, regulatory agencies and other stakeholders.