Climate resilience, GHG emissions and other gases

Climate change presents new challenges and opportunities for our business. The inability to adapt to climate regulations and global challenges may result in financial, reputational and legal impacts, affecting cash flow, competitiveness and shareholder value. 

The governance of risk management is structured to involve, in addition to senior management, all hierarchical levels of the company, promoting collective engagement on the subject. The identification of risks and opportunities is carried out with a focus on the sustainability of our business and on value generation, ensuring that decisions are aligned with the company’s strategic objectives. 

Regarding transition risks, we monitor four types: 

1. Regulatory and legal risk: carried out through continuous monitoring of applicable climate standardsthat may impact our operations;  

2. Market risk: monitored through structured analyses that evaluate the evolution of demand, prices and competitiveness in the face of energy transition, as well as their impact on the company’s revenue; 

3. Technological and implementation risk: encompasses the uncertainties related to research, development and application of new technologies, as well as the ability to implement decarbonization initiatives already identified. Monitored through continuous monitoring of the progress of decarbonization technologies, both internally and in external forums, consortia and innovation hubs;  

4. Litigation and reputational risk: monitored broadly, considering both institutional integrity and the perception of key stakeholders, in order to preserve our reputation and mitigate exposure risks arising from operational failures, inconsistencies in communication related to climate change and energy transition, and regulatory and legal questioning.

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                 ¹Task Force on Climate Related Financial Disclosures

We reaffirm our commitments related to climate change, as shown in the  figure below:

In addition to the commitments, we have ambitions associated with the mitigation of our operational emissions:

> Net Zero by 2050;¹
> Maintain annual emissions below 55 million tCO2e by 2030;²
> Near Zero Methane by 2030.

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1 This commitment considers only the business segments in which we are already present and our willingness to use carbon credits
2 Compared to 2015;
3 Routine flaring commitment in flare is only for the E&P segment;
4 The kgCO2e/boe indicator considers in its denominator the gross production of oil and gas (wellhead);
5 The kgCO2e/CWT indicator uses the activity unit called CWT (Complexity Weighted Ton), which considers both the effect of the processed load and the complexity of each refinery, allowing the comparison of the GHG emissions potential between refineries with differentiated profiles and sizes;

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1. Ambition considers our willingness to use carbon credits. The ambition refers to emissions in Brazilian territory, where more than 99% of our operational emissions occur. For other emissions, we have an ambition of neutrality on a timeframe compatible with the Paris Agreement, in alignment with local commitments.
2. Ambition considers our willingness to use carbon credits. Ambition updated in relation to BP 2025-29. Considers only the business segments in which we are already inserted.

The challenge of achieving operational emissions neutrality requires technically and financially enabling the necessary technologies. To support this process, we developed the Carbon Neutral Program (PCN), structured to strengthen our low-carbon action, accelerate and reduce the costs of decarbonization solutions.  The PCN is the cross-cutting instrument that seeks the management of the mitigation of operational emissions through an integrated view our initiatives. It has the following lines of action, as illustrated in the figure below. 

We are expanding our RD&I portfolio with a focus on new energy business opportunities. We seek to optimize our current assets and invest in innovative and sustainable solutions, preparing ourselves for the challenges of the future and for the energy transition, as shown in the figure below. 

In 2025, BRL 168.6 million was invested in the development of low-carbon products, including renewable diesel, sustainable aviation fuel (SAF), bunker and asphalt with renewable content, BioGLP, renewable gasoline and bioaromatics. Additionally, BRL 106.9 million was applied in low-carbonemission hydrogen and CO2  conversion technologies, as well as BRL 51.3 million in renewable energy, totaling BRL 327 million in investments during the period.  

                                                   Our emissions inventory 

Our emissions inventory is prepared according to the technical specifications of the Brazilian GHG Protocol Program¹, the ISO 14064-1 standard and the Ipieca  recommendations, as established in the Petroleum Industry Guidelines for Reporting Greenhouse Gas Emissions. Voluntarily published  since 2002, our inventory is annually verified by an independent third party. 

The scope of our inventory includes all activities under our operational control. The organizational boundaries cover the emissions of the companies Petrobras, Transpetro, Transportadora Brasileira Gasoduto Bolívia-Brasil S.A. (TBG), Petrobras Biocombustíveis (PBio), Araucária Nitrogenados S.A. (ANSA), Petrobras Bolívia (PEB) and Petrobras Colômbia (PIB-COL) 

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¹In compliance with the guidelines of the standard A Corporate Accounting and Reporting Standard of the Greenhouse Gas Protocol, developed by the World Resources Institute (WRI) and by the World Business Council for Sustainable Development (WBCSD)

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                                                    Reduction of greenhouse gas emissions  

In 2025, we neutralized 183 thousand tCO2, equivalent to 3.94 million MWh of  renewable electricity acquired. Abroad, our scope 2 emissions totaled  132 tCO2 , representing only 0.0003% of our absolute operational emissions  in 2025. 

The E&P and refining segments are responsible for most of the absolute operational emissions recorded. In 2025, our public commitments related to GHG emissions intensity (IGEE-E&P and IGEE-Refining) covered 84% of the  emissions from activities under our operation.

                                                                       GHG emissions intensity in E&P  

We achieved a GHG intensity performance of 14.7 kg/boe, a value 1% lower than 2024. The improvement in intensity was due to a 13% increase in the operated production of oil and gas combined with energy optimization and gas and loss reduction actions. 

                                                                        Intensidade de emissões de GEE no refino 

The GHG emissions intensity in the refining segment in 2025, with a result of 36.7 kgCOe/CWT, confirms the historical record of significant 14.6% reduction when compared to 2015, reflecting the consistent advances in the improvement of energy efficiency, operational management of the segment and initiatives implemented over the last decade. The one-off increase of 1.4% compared to 2024 was caused by specific operational factors, such as scheduled stoppages for the implementation of projects.  

                                                    Methane emissions in upstream  

In 2025, as a result of the implementation of the direct monitoring actions of methane emissions provided for under OGMP 2.0, this indicator presented variation in relation to the results of previous years, justified by the improvement of the monitoring, Quantification and reporting process. The methane intensity in 2025 was 0.23 tCH4 /thousand HC ton, presenting 65% reduction in relation to the 2015 base date and exceeding the established commitment of 0.25 tCH4/thousand tHC. 

The total flaring volume remained at the 2024 level; however, a 17% reduction was recorded in the routine flaring portion. This low percentage is largely due to the operation of 14 high-capacity Stationary Production Units (UEPs) without routine flaring, a direct result of the incorporation of  the Gas Recovery Units (FGRU) into their projects. In addition, the adoption of the “zero routine flaring” concept in all new projects reinforces the trend of continuous reduction of this percentage in the coming years. 

In 2025, 19.6million tons of CO2  were reinjected into the pre-salt reservoirs of the Santos Basin, surpassing the volume of 14 million tCO2  recorded in 2024 and exceeding, on a cumulative basis, the mark of 80 million tons of CO2  reinjected into our pre-salt reservoirs, as established in our public  commitment. The chart below represents the cumulative reinjection of  CO2 over the years. 

As an integrated energy company, we monitor absolute emissions and carbon intensity throughout the value chain of our global energy portfolio. We consider the carbon performance of each product to be relevant, due to the differences in emissions intensity among the various types of crude oils, natural gas streams and electricity from fossil sources. The chart below represents the value chain emissions over the past few Years 

¹The values presented refer to the main emissions of our value chain and do not consider the use of carbon credits tooffset GHG emissions of Petrobras Podium Carbono Neutro (Carbon Neutral) gasoline, calculated based on in Life Cycle Assessment, which totaled 297.9 thousand tCO2e in 2025.

In 2025, NOx emissions increased by 6%, mainly due to the greater oil exploration and production activity. CO emissions, on the other hand,  increased by 14% in relation to 2024, a result influenced by the operation  of CO boilers in some fluid catalytic cracking (FCC) units of refining. This  number, however, is still lower than that observed in 2023.  

SOx emissions are more relevant in the refining segment, which accounted  for 73% of the total in 2025. We have monitored this pollutant as an indicator  for about 20 years, with alert limits established for each refinery. In 2025,  the total SOx emissions of the refining park were about 3.5% above the  annual alert limit. Despite this, we reached the lowest value in the historical  series for refining and for the company, demonstrating our commitment to continuous improvement and our contribution to the improvement of air quality. In VOC emissions, we recorded an increase of 96% compared to 2024. This variation was mainly due to a methodological update adopted in  the period, not necessarily representing an effective increase in emissions. The change consisted in the substitution of the use of standardized  emission factors with process simulations, resulting in a more accurate and representative estimate of the actual operating conditions. Therefore, comparability with previous historical series should be analyzed considering this methodological change.

In 2025, our energy consumption reflected our commitment to energy efficiency. The survey includes the use of fuels from non-renewable sources and electricity, as illustrated in the figure below. 

Internal consumption in 2025 increased by 5.7% compared to the previous year, reflecting the start-up and ramp-up of new FPSOs (Floating Production, Storage and Offloading units), in line with the company’s expansion of its production capacity. 

It is the Petrobras Corporate Venture Capital (CVC) program, which seeks to invest in companies with innovative solutions and business models with high growth potential. In 2025, we approved our first CVC fund in Brazil: BRL 500 million, in partnership with the Brazilian Development Bank (BNDES) and the Studies and Projects Financier (Finep), dedicated to the energy transition and decarbonization. The announcement of this fund was recognized by the market, evidenced by the record number of proposals received for fund management. Additionally, the initiative won first place in the Corporate Venture in Brazil Awards 2025, highlighting us as a benchmark in corporate investment in the country. 

The eventual political engagement activities of these associations are monitored and reviewed by our governance structure, ensuring that their climate engagement actions are in line with our principles. We defend advocacy climate positions that are aligned with our climate strategy in the external entities in which we participate or are associated. 

The Executive Management of Integrated Energy Transition Management, linked to the Executive Office of Energy Transition and Sustainability, has an area dedicated to regulatory matters. This area monitors public policies, legal and regulatory frameworks, national standards and guidelines, monitoring bills and infralegal regulations. 

Since 2023, we have invested in the voluntary market for the offsetting of emissions from Petrobras Podium Carbon Neutral gasoline. In 2025, we acquired 1.2 million credits from the Brazilian Amazon APD Grouped project11, of which 455 thousand were retired for the offsetting of Podium Gasoline. The credits are from the 2022 vintage and certified according to the Verified Carbon Standard (VCS) of Verra, the largest certifier in the voluntary carbon market in the world and have certification for the criteria of Adaptation to Climate Change, Biodiversity and Community according to the Climate, Community & Biodiversity (CCB) standard. In March 2025, we launched ProFloresta+ with the objective of acquiring carbon credits from ecological forest restoration projects in private areas or in public areas under forest concession inserted in the Amazon biome. 

ProFloresta+ is a joint initiative between us and BNDES that aims to purchase carbon credits from the structuring of ecological restoration projects for the generation of high-quality and integrity carbon credits. The program aims to meet our emission reduction commitments while contributing to increasing vegetation cover with native species, strengthening the technical and management structure of the production chain of the forest restoration sector and the carbon credit market in Brazil. The objective of the initiative is the purchase of credits, promoting the restoration of up to 50 thousand hectares of degraded areas in the Amazon with the generation of around 15 million carbon credits. 

In 2025, through the Petrobras Social and Environmental Program and complementary nature-based solutions initiatives, we voluntarily invested around BRL 90 million in projects aimed at forest recovery and conservation in all Brazilian biomes. Carried out by civil society organizations, with the active participation of communities and our follow-up throughout their implementation cycle, these initiatives contribute to the maintenance of essential ecosystem services, the connectivity of landscapes, the strengthening of local capacities and the reduction of pressures on natural areas, in line with national and global biodiversity goals. 

These projects have already worked in the recovery or direct conservation of about 579 thousand hectares of forests and natural areas in all Brazilian biomes (of which around five thousand hectares covered in recovery actions and 574 thousand hectares of areas conserved directly). It is estimated that the projects have contributed so far to avoiding around 2.7 million tCO2.