Metrics

In the table, we present our metrics used in the assessment of carbon risks and opportunities.

TARGETS, METRICS AND PERFORMANCE METRIC

Absolute Operational GHG Emissions tons of CO₂e 100% of activities with operational control

Operational Emissions from Oil and Gas Activities tons of CO₂e Oil and Gas Exploration and Production, Natural Gas Processing and Treatment and Oil Refining activities with operational control

Total GHG emissions, including Scope 1 and Scope 2, in terms of CO₂ equivalent (CO₂e) from us and shareholdings under our operational control.

Total GHG emissions, including Scope 1 and Scope 2, in terms of CO₂ equivalent (CO₂e), excluding GHG emissions from the operations of Thermal Power Plants.

Public Commitment: Reduction by 30% by 2030 (base year 2015)

Internal Monitoring

E&P GHG Emissions Intensity kgCO₂e/boe

Oil and Gas Exploration and Production activities under operational control

GHG emissions, in terms of CO₂e, from E&P activities in relation to the total oil and gas operated production (wellhead) registered in the same period. Scope 1 and 2 GHG emissions are considered. This indicator represents the rate of GHG emissions per barrel of oil equivalent produced, being used to analyze the carbon performance of the assets in our current and future portfolio. It is comprised of the weighting of E&P GHG Emissions Intensity - Implemented Units and E&P GHG Emissions IntensityNew Units

Public Commitment: 15 kgCO₂e/boe until 2025, maintained until 2030.

E&P GHG Emissions

Intensity - Implemented Units kgCO₂e/boe

Oil and gas Exploration and Production activities under operational control that were already in full operation in December of the previous year to which the indicator refers and that remain in our portfolio

GHG emissions, in terms of CO₂e, from E&P activities, which were already in full operation at the end of the year prior to the reference year, in relation to the total operated oil and gas production (wellhead) registered in the same period. This indicator makes up the E&P GHG Emissions Intensity.

Used for the composition of the Compliance with GHG targets index

E&P GHG Emissions

Intensity - New Units kgCO₂e/boe

Oil and gas Exploration and Production activities under operational control in the commissioning process during the year to which the indicator refers

GHG emissions, in terms of CO₂e, from E&P activities, in the commissioning process during the reference year, in relation to the total operated oil and gas production (wellhead) registered in the same period. This indicator makes up the E&P GHG Emissions Intensity.

Internal Monitoring

Upstream Methane Emissions Intensity (IOGP) tCH4/thousand t hydrocarbons

Oil and gas exploration and production activities and natural gas processing and treatment activities under operational control

Upstream Methane Emissions Intensity (OGCI) % Oil and gas production activities and natural gas processing and treatment activities under operational control

GHG Emissions Intensity in Maritime Transport per ton transported x mile gCO₂e/(ton x mile)

Maritime Transport Activities of ships chartered in the Time Charter Party (TCP) modality

The indicator uses the IOGP metric that represents the ratio between methane emissions and the total operated production of hydrocarbons.

Public Commitment: Consolidation of the 55% reduction by 2025, reaching 0.29 tCH4/thousand t of hydrocarbons (base year 2015).

The indicator uses the OGCI metric that represents the ratio between the volume of methane emission by the volume of gas delivered to the market.

Ratio between the total mass of CO2e emitted on ships and the product of cargo actually transported on ships by the distance sailed in nautical miles (tons x miles).

Internal Monitoring

Internal Monitoring

TARGETS,

Metrics And Performance

GHG Emissions Intensity in Maritime Transport per cargo capacity x mile

GHG Emissions Intensity per ton of cargo transported by maritime support vessels

GHG Emissions Intensity per passenger transported in helicopters gCO₂e/(DWT x mile) tons of CO₂e / tons of cargo transported kg of CO₂e/ number of passengers carried by helicopters

Maritime Transport Activities of ships chartered in the Time Charter Party (TCP) modality

Support vessels that transport cargo to the Maritime Units

Ratio between the total mass of CO2e emitted on ships and the product of ship capacity (deadweight tonnage - DWT) by the distance sailed in nautical miles.

Ratio between the total mass of CO2e emitted in support vessels carrying out cargo transport (PSVPlatform Supply Vessel) by the total mass of cargo that these vessels carry to the platforms.

Internal Monitoring

Air Transport Operations

Ratio between the total mass of CO2e emitted by helicopters working for Petrobras by the number of passengers transported

Internal Monitoring

Refining

GHG Emissions Intensity kgCO2e/CWT

Refining activities with operational control

GHG emissions, in terms of CO₂e, from Refining activities in relation to the activity unit called CWT (Complexity Weighted Tone). CWT represents a measure of activity, similar to UEDC (Utilized Equivalent Distillation Capacity), which considers the potential for GHG emissions, equivalent to distillation, per process unit, allowing better comparability between refineries of different complexities. This indicator composes the analysis of the carbon performance of the assets in our current and future portfolio.

Internal Monitoring

Public Commitment: 36 kgCO₂e/CWT by 2025 and 30 kgCO₂e/CWT by 2030.

Energy IntensityRefining activities with operational control

It considers the relationship between the total primary energy consumption of a refinery and a standard energy consumption that takes into account the volume of processed feed, the quality of the feed, the complexity and severity of the process units.

Internal Monitoring Value

Total GHG emissions from our operations (Scope 1 and Scope 2) and Scope 3 emissions (Category 10 and Category 11) in relation to the total energy delivered to our customers in energy products. This metric represents an analysis regarding the amount of GHG emissions associated with each unit of energy delivered to our consumers.

Internal Monitoring

Commercial generation of power from thermal power plants under operational control

GHG emissions, in terms of CO₂e, from the processes of Thermal Power Plants in relation to the electricity generated. Scope 1 and 2 GHG emissions are considered. This indicator comprises the analysis of the carbon performance of the assets in our current and future portfolio.

Internal Monitoring Compliance with Performance in terms of GHG emissions from Thermal Power Plants

Breakeven Carbon Price

% Commercial generation of power from thermal power plants under operational control

US$/tCO₂e Projects under assessment

Performance in terms of GHG emissions from our thermal power plants, relative to its reference performance, determined in accordance with the project conditions and operational situations of service to the electrical system and steam export. The total relative performance is calculated as the weighted average of the energy generated by each thermal power plants in the period.

The indicator represents the value of a carbon tax that would bring the NPV of the project under analysis to zero using a simplified internal methodology.

Internal Monitoring

Analysis of the result in the decision-making process of each investment project.

NPV Carbon Price Sensitivity % or currency unit Projects under assessment

The indicator represents the impact on the NPV of the project under analysis derived from a possible carbon pricing, using a simplified internal methodology.

Analysis of the result in the decision-making process of each investment project. Portfolio

The indicator represents the impact on the NPV of the Portfolio when compared to the international scenarios indicated in this Supplement, due to the effect of oil and carbon price assumptions in the evaluated periods.

Internal Monitoring