Petrobras has signed a contract with the company Compass Gas e Energia SA (Compass) for the sale of its entire stake (51%) in Petrobras Gas SA (Gaspetro). The sale value is BRL2.03 billion (US$396.77 million) to be paid upon closing, subject to the adjustments provided in the contract.

Gaspetro is a holding company with equity interests in 19 natural gas distribution companies located in all regions of Brazil. Its distribution networks total approximately 10 thousand km, serving more than 500 thousand customers, with a distributed volume of approximately 29 million m3/day.

Closing of the transaction is subject to the fulfillment of conditions precedent, such as approval by the Administrative Council for Economic Defense (CADE). In addition, until the closure, Petrobras will comply with the provisions contained in the shareholder agreements between Gaspetro and the natural gas distributors, including with regard to preemptive rights, as applicable.