Petrobras, following up on the announcement dated December 15, 2025, informs that, in light of the progress in negotiations related to Braskem and in order to expedite the necessary authorization procedures, Shine I Fundo de Investimento em Direitos Creditórios de Responsabilidade Limitada (FIDC) submitted today the potential transaction to Brazil’s Administrative Council for Economic Defense (CADE), with Petrobras acting as an intervening consenting party in the process, considering the terms of a potential new Shareholders’ Agreement, which remain subject to approval by Petrobras’ competent decision-making bodies.It is important to note that Petrobras’ participation in a possible new Braskem Shareholders’ Agreement depends on the conclusion of the final terms of the potential transaction, the analysis of its preemptive and tag-along rights under the current agreement, as well as the necessary internal approvals.
Petrobras said Shine I FIDC has submitted the potential Braskem transaction to Brazil's antitrust body CADE to speed up authorisation procedures, with Petrobras acting as an intervening party.
It said any participation in a new shareholders' agreement will depend on final deal terms, analysis of its rights under the current pact and internal approvals.
The progress of the negotiations does not affect Petrobras’ rights, and the company will continue to monitor and assess the effects of the potential transaction in order to decide, if applicable and at the appropriate time, whether or not to exercise its rights under the current shareholders’ agreement or to enter into a new agreement, as appropriate.
Petrobras reiterates that any final decision will follow governance practices, applicable internal procedures and any required regulatory approvals, and will be promptly disclosed to the market.
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