Petrobras on natural gas prices for distributors

Petrobras, announces that as of 05/01/23, according to the contracts agreed upon by the Company with the distributors, the updated natural gas sales prices will have an average reduction of 8.1% in R$/m³, in relation to the February-March-April quarter, considering the variation in the price of the molecule and its transportation through pipelines.

The contracts with the distributors foresee quarterly updates of the portion of the price related to the gas molecule and link this variation to the oscillations of the Brent oil and the exchange rate. During the quarter in reference, the petroleum had a drop of about 8.7% and the exchange rate appreciated about 1.1%. The portion of the price related to gas transportation is updated annually in May, linked to the variation of the IGP-M, and will be updated by approximately 0.2% as of May 2023.

With this update, the price of natural gas sold by Petrobras to the distributors will accumulate a reduction of approximately 19% in the year.

Petrobras points out that the final price of natural gas to the consumer is determined not only by the Company's sales price, but also by each distributor's supply portfolio, as well as by their margins (and, in the case of NGV - Natural Gas Vehicles - the resale stations) and by federal and state taxes.

In addition, consumer tariffs are approved by state regulatory agencies, according to specific legislation and regulations. The Company points out that the update announced for 05/01/23 does not refer to the price of LPG (cooking gas), bottled or sold in bulk.