Petroleo Brasileiro SA Petrobras (Petrobras) has announced its adherence to the PGFN-RFB Transaction Public Notice 6/2024, which aims to resolve tax disputes related to IRRF, CIDE, PIS, and COFINS taxes on remittances abroad from 2008 to 2013. The Board of Directors approved the decision with a unanimous vote on June 17, 2024. The total value of the transaction is R$19.80 billion, with a 65% discount applied as per the public notice terms. Petrobras will pay R$6.65 billion using judicial deposits already made and R$1.29 billion with tax loss credits from subsidiaries. The remaining R$11.85 billion will be paid in a down payment of R$3.57 billion and six monthly installments of approximately R$1.38 billion each, starting July 31, 2024, and adjusted by the SELIC rate. The settlement will...Show More

Petroleo Brasileiro SA Petrobras (Petrobras) has announced its adherence to the PGFN-RFB Transaction Public Notice 6/2024, which aims to resolve tax disputes related to IRRF, CIDE, PIS, and COFINS taxes on remittances abroad from 2008 to 2013. The Board of Directors approved the decision with a unanimous vote on June 17, 2024. The total value of the transaction is R$19.80 billion, with a 65% discount applied as per the public notice terms. Petrobras will pay R$6.65 billion using judicial deposits already made and R$1.29 billion with tax loss credits from subsidiaries. The remaining R$11.85 billion will be paid in a down payment of R$3.57 billion and six monthly installments of approximately R$1.38 billion each, starting July 31, 2024, and adjusted by the SELIC rate. The settlement will positively impact Petrobras' net income in the second quarter of 2024 by approximately R$11.87 billion after taxes. This agreement concludes administrative and judicial discussions amounting to R$44.79 billion and involves several E&P consortium partners responsible for about 13% of the litigation. Petrobras is in negotiations with other consortium members regarding reimbursement conditions. The adherence to the program is expected to bring financial benefits to Petrobras by avoiding the costs associated with maintaining legal guarantees and other procedural expenses. The Statutory Audit Committee and the Company's Minority Committee have reviewed the adherence to the program and found no obstacles to its implementation.