Emissions Management

1

As an integrated energy company operating in the O&G and electricity markets, we monitor the absolute emissions and carbon intensity of our activities and the value chain of our products: responsible, and highly emission-efficient manner. Operational performance in terms of greenhouse gas (GHG) emissions is one of the strategic requirements for the company’s long-term resilience.

We hold relevant oil and gas reserves, and our scenarios indicate that there will be a persistent world demand for oil in the coming decades, albeit decreasing. Accordingly, our priority is to continue supplying oil and gas in a competitive, environmentally

Among our actions, we have developed a set of metrics to manage emissions and monitor targets related to gas flaring and energy efficiency. We have maintained teams dedicated to emissions and climate change for over 20 years and inventory all assets under operational control. We have proprietary software for managing the emissions inventory with about 10,000 sources fed monthly – SIGEA® (Sistema de Gestão de Emissões Atmosféricas da Petrobras - Petrobras Atmospheric Emissions Management System). Our inventory has been published voluntarily since 2002 and verified annually by a third party, representing our pioneering spirit regarding GHG management. We are also founding members of the Brazilian GHG Protocol Program and we publish our inventory in its Public Emissions Registry. In 2022, our 2021 base year inventory was awarded a Gold Seal for the fifth consecutive year, a standard of excellence in data quality and availability.

In an inventory, in addition to quantifying the emissions from the emission sources of our own operations, it is also necessary to consider the indirect emissions, that is, those that occur throughout the entire chain, from the production of supplies to the use of the product. This way, we can estimate the total impact of a particular activity.

Therefore, the GHG Protocol created a globally harmonized methodology based on carbon scopes:

Scope 1 Scope 2 Scope 3

Direct GHG emissions that occur as a result of the company’s own operations at sources that are owned or controlled by the company.

Referring to emissions from the acquisition of electrical and thermal energy consumed by the company. These are indirect emissions, as they occur at third-party sources.

Referring to other indirect emissions, that is, those that occur in sources not owned or controlled by the company, but those exist as a result of its activities.