PETROBRAS - PETROLEO BRASILEIRO SA reported an update to Chief Product Officer William Franca Da Silva’s deferred compensation through phantom shares. These phantom shares track the PETR3 common share price and are settled in cash when they vest under the Petrobras Performance Award Program.
Following this update, his phantom share position referenced to PETR3 stands at 258.31 units at an exercise price of $9.27 per share, based on a 46.64 BRL price and a 5.0297 BRL per 1.00 USD exchange rate on June 1, 2026. Additional phantom shares are credited proportionally when Petrobras pays dividends or interest on equity, including credits tied to the June 1, 2026 record date.
PETROBRAS - PETROLEO BRASILEIRO SA CEO Magda Maria de Regina Chambriard reported an update to her phantom share compensation balance. She now holds 139.6 phantom shares referenced to PETR3 common shares under the Petrobras Performance Award Program, which are cash-settled upon vesting and vest in four equal annual installments.
Additional phantom shares were credited as a result of a Petrobras dividend with a record date of June 1, 2026. The valuation uses a PETR3 closing price of 46.64 BRL per share, with a convenience U.S. dollar conversion based on a 5.0297 BRL per 1.00 USD exchange rate.
Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors approved adherence to a new Brazilian economic subvention for road-use diesel oil of R$ 1.12 per liter commercialized, created by Provisional Measure (MP) 1,363 of May 30, 2026.
The program aims to stabilize diesel prices and supply in Brazil after a supply shock linked to conflict in the Middle East. Adherence is optional, and Petrobras states it considers the measure compatible with the company’s interests and commercial strategy.
By joining MP 1,363, Petrobras must discontinue qualification processes for earlier diesel subventions under MPs 1,340 and 1,349, although rights to subventions already owed under those measures are preserved. The new adherence is complementary to that previously authorized under MP 1,358 and is described as maintaining flexibility in pricing and refining strategy.
Petróleo Brasileiro S.A. – Petrobras signed contracts with SBM Offshore to build, operate and later transfer two FPSO oil and gas production units for the Sergipe Deepwater (SEAP) project under a BOT model. Petrobras will own the units, while SBM Offshore will design, construct, assemble, operate and maintain them for an initial 6.5-year period.
Petrobras expects to invest more than R$ 60 billion in these projects, which together are expected to produce over 1 billion barrels of oil equivalent. Each FPSO will have capacity to produce 120,000 barrels of oil per day and process significant natural gas volumes, with production starting between 2030 and 2031.
The SEAP I and SEAP II projects target light, high-quality oil and non-associated gas in offshore concessions where Petrobras is operator, with varying partnership stakes. The FPSOs will be connected to a 134 km gas pipeline system, supporting greater natural gas availability in Brazil and contributing to national energy security.
Petróleo Brasileiro S.A. – Petrobras plans to redeem US$670,009,000 of its 7.375% Global Notes due 2027 through its wholly owned subsidiary Petrobras Global Finance B.V.
The redemption is scheduled for June 26, 2026 at a price equal to the greater of 100% of principal or a make-whole amount based on the Treasury Rate plus 50 basis points, in each case plus accrued interest from January 17, 2026 to the day before the redemption date. Payment will be routed via The Bank of New York Mellon and The Depositary Trust Company, and interest will stop accruing after the redemption. The notes and Petrobras’s related guaranty will be cancelled, with PGF funding the transaction using available cash on hand.
Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors has approved changes to the composition of its Statutory Audit Committee. Two independent board members, Renato Campos Galuppo and Marcelo Gasparino da Silva, were elected to the committee, which will continue to include external members Eugênio Tiago Chagas Cordeiro e Teixeira and Newton de Araujo Lopes.
Renato Campos Galuppo will assume office as a member and Chair of the Statutory Audit Committee on 07/10/2026, succeeding Fábio Veras de Souza. Fábio Veras de Souza will remain on the committee as an external member and Interim Chair until 07/09/2026. Petrobras notes that the curricula of the committee members are available in the company’s Reference Form.
PETROLEO BRASILEIRO S.A. PETROBRAS ownership filing shows GQG Partners LLC reports beneficial ownership of 187,199,112 American Depositary Shares, representing 5.03% of the class as disclosed in the Schedule 13G dated 05/19/2026. The filer reports sole voting power for 170,206,561 ADS and sole dispositive power for 187,199,112 ADS. The filing is signed by Salvatore DiGangi, Chief Compliance Officer on 05/20/2026.
Petrobras reported stronger operating results for Jan–Mar/2026, with sales revenues of US$23,535 million, up 11.7% from US$21,073 million a year earlier, and net income attributable to shareholders of US$6,199 million, an increase of 3.8%.
Adjusted EBITDA rose 8.6% to US$11,349 million, supported by higher Brent prices, strong export volumes and a sharp recovery in refining margins, where segment operating income jumped to US$3,519 million from US$475 million. Free cash flow reached US$3,855 million, while net cash from operations was US$8,399 million.
Capital expenditures grew 25.6% to US$5,106 million, with US$4,463 million directed to Exploration and Production, backing a 16.1% increase in total production to 3,225 mboed. Net debt edged up to US$62,093 million, but leverage remained low, with a Net Debt/LTM Adjusted EBITDA ratio of 1.43.
Petróleo Brasileiro S.A. – Petrobras submitted its 2026 Reference Form to the Brazilian Securities and Exchange Commission (CVM) for the year ended December 31, 2025.
The document, in Portuguese, is available on both the CVM website and Petrobras' investor relations website, providing detailed information about the company for that fiscal year.
Petrobras minority holder BNDES updates its stake in the company’s preferred shares. Brazilian state development bank BNDES and its subsidiary BNDES Participações (BNDESPAR) filed Amendment No. 2 to their Schedule 13D to report recent open‑market sales of Petrobras preferred shares.
Their combined beneficial ownership fell from 1,035,458,754 to 957,806,254 preferred shares, equal to 17.59% of Petrobras’s 5,446,501,379 preferred shares outstanding as of March 31, 2026. BNDESPAR now directly holds 822,557,996 preferred shares (15.10%), while BNDES directly holds 135,248,258. The filing notes limited appointment rights attached to preferred shares, but also that BNDES and BNDESPAR are prevented from voting these shares under a 2014 Brazilian Securities Commission decision.