The objective of the program was to acquire preferred shares issued by the company, to remain in treasury with subsequent cancellation.

Petrobras concluded its share buyback program this Monday, August 5, after acquiring a total of 155,468,500 preferred securities of the company, for an amount of 5.6 billion Brazilian reals (US$ 977 million).

This amount represents about 3.5% of the oil company's share capital, as explained by the company in the statement issued this Monday, one year after the start of the operation.

Precisely, the closure of this program has occurred due to the end of the 12-month period established by the company a year ago, specifically on August 4, 2023, and which was carried out in accordance with the shareholder remuneration policy. of Petrobras.

The objective of the program was to acquire preferred shares issued by the company, to remain in treasury with subsequent cancellation, without reducing the share capital. The cancellation of treasury shares will be carried out in the future by resolution of the board of directors.