05/24/2021 | 10: 33am EDT

Sustainable Development Policy

1. Purpose

To formalize our commitment to social and economic prosperity, respecting environmental preservation, through our operations, investments and partnerships.

To guide and establish criteria to ensure that, in the execution of corporate purpose of "Being the leading independent oil and gas production company in Brazil", Enauta monitors and manages its impacts.

Support strategic, tactical and operational planning, in addition to guide relationships with stakeholders in all activities performed.

2. References

As an independent oil and gas exploration and production company, we recognize the challenges of our business, including the transition to a less carbon-intensive energy matrix. We understand that our license to operate is secured by acting responsibly and diligently, thus, we take necessary and possible measures to prevent, mitigate and control risks and impacts in order to maintain the safety of people, the environment and assets.

We adopt the Precautionary Principle1, as defined in the Declaration on Environment and Development resulting from the United Nations Conference Rio92.

We follow the premises of 2030 Agenda and the 17 Sustainable Development Goals (SDGs)2 formulated by the United Nations (UN).

This Policy complies with the laws, the Bylaws, the Code of Ethical Conduct, in addition to all Company's applicable internal regulations.

1 Principle 15 of Rio92 Declaration - "In order to protect the environment, precautionary approach

shall be applied by States according to their capabilities. Where threats of serious or irreversible risks exist, lack of full scientific certainty shall not be used as a reason for postponing cost-effective measures to prevent environmental degradation"

2 The 2030 Agenda is a plan of action for people, planet and prosperity that seeks to strengthen universal peace. The plan outlines 17 Sustainable Development Goals, the SDGs, and 169 targets, to eradicate poverty and promote a decent life for all, within the limits of the planet.

3. Guidelines

Our commitment to sustainable development demands knowledge of and action on material issues3; among them, the following are highlighted, but are not limited to:

Personnel and operational safety

The safety of operations, employees, and third parties is our priority. The management of the studies of risk and integrity identification and assessment and the management of critical elements of operational safety must be continuously improved to prevent accidents and promote the health of all people involved in operations (see our "Operational Safety Policy").

Environmental impact management

We seek to prevent and avoid environmental impacts from operations. For the environmental impacts inherent to the activities, mitigation projects are implemented. We have an Integrated Management System ("SGI"), with procedures aligned to the best industry practices. The SGI aims to integrate QHSE-related risks and opportunities with business processes, improving the Company's management and protection of the environment, (see our "SGI Policy").

Biodiversity and knowledge

We deepen the knowledge of biomes and develop actions to protect and preserve the biodiversity in the areas of influence of our operations. The resources invested in research and development and in socio-environmental initiatives aim to promote the sustainable use of the available natural resources and to preserve the customs and traditions of the communities whose way of life depends on these ecosystems.

Risk Management

We employ methodologies, systems and processes to identify, measure and manage the different risks associated with our business activities, considering the three dimensions of sustainable development - economic, social and environmental.

3 Material issues are those that reflect significant economic, social and environmental aspects of the organization; capable of substantially influencing stakeholder assessments and decisions.

Relationship with local communities

We respect cultural aspects and have established engagement actions with traditional communities4 in the areas of influence of our operations. These relationships follow the principles of ethics and transparency and prioritize continuous dialogue for the joint development of initiatives that promote economic inclusion, environmental preservation, and the reduction of social inequalities.

Relationships in the value chain

We build long-term relationships with independent agents to enable us to act with integrity in the markets of interest. The relationships with suppliers, partners, and customers seek to materialize opportunities for gains for all parties involved, maximizing the generation of value, efficiency, and productivity, always in compliance with the legislation and following the best practices to preserve a fair and ethical competition environment.

Good governance practices

We are publicly traded and listed in the segment with the highest degree of corporate governance of the stock exchange (B3 - Brasil, Bolsa, Balcão). We continuously improve the corporate governance structure and systems to ensure business management with integrity, ethics, transparency, and legal compliance. We invest in effective instruments to prevent and combat all forms of corruption in our value chain (see our "Anti-CorruptionPolicy").

Value generation

We invest in exploration and production activities with responsibility and long-term vision, oriented to generate financial and non-financial value to the business and to society. In forming strategic partnerships, we choose partners who have values and commitments compatible with those adopted corporately.

Climate change and energy transition

We recognize the challenges posed by the impacts of climate change and act to identify and mitigate the risks associated with the emission of greenhouse gases into the atmosphere, focusing efforts on adaptation measures. We believe that the gradual transition to a global energy matrix with a greater share of renewable sources and biofuels will be supported by the coexistence with fossil energy sources, such as oil and natural gas.

4 According to the National Policy for the Sustainable Development of Traditional Peoples and Communities (PNPCT), among the Traditional Peoples and Communities (PCTs) of Brazil, there are indigenous peoples, quilombolas, extractivists, artisanal fishermen and others.

Promotion of human rights

We recognize the importance of the Universal Declaration of Human Rights5 for the promotion of peace, justice, prosperity, and respect for people. The Company does not allow practices and attitudes that disrespect or violate human rights in its operations or in those of its suppliers. We adopt mechanisms to combat and apply disciplinary measures against discrimination (ethnicity, gender, sexual orientation, etc.), against the exploitation of children and adolescents, against degrading labor practices or those analogous to slave labor. We also pursue initiatives to promote diversity and ensure gender and ethnicity equity throughout our value chain.

4. External Initiatives

We have increased our commitment to issues related with sustainable development through partnerships with sector entities, civil society organizations, government agencies, and other players in society.

Corporate participation and representation in multilateral initiatives with this objective are encouraged by the Company's shareholders and management. Among the public commitments already made are:

• United Nations (UN) Global Compact and its associated programs, such as the Sustainable Ocean Principles6 and the Platform for Action Against Corruption7.
• CDP Platform (Carbon Disclosure Project) for evaluation, monitoring and disclosure of the governance model for risks and opportunities associated with climate change.
• Brazilian GHG Protocol Program, for the identification, measurement and disclosure of the Company's direct greenhouse gas emissions (GHG) and in its value chain in the Public Emissions Registry.

1. Adopted and proclaimed by the United Nations General Assembly (resolution 217 A III) on December 10,
   
   
   1948.
2. Initiative that defines nine principles for promoting the sustainable use of the oceans and achieving the goals of SDG 14 - Life Below Water.
3. Initiative that promotes learning, constructive dialogue, and the exchange of experiences in the field of anti-corruption and integrity promotion in Brazil, in accordance of Principle 10 of the Global Compact.

5. Policy Administration

Board of Directors

Responsible for approving and deliberating on the Policy, in addition to evaluating the execution of the Company's sustainability program, supported by the Corporate Governance, Strategy and Sustainability Committee.

Corporate Governance, Strategy and Sustainability Committee

Responsible for evaluating, prior to the deliberations of the Board of Directors, the initiatives related to the principles and themes of this Policy, guiding the executive teams to adopt the best practices in corporate sustainability.

Executive Board

Responsible for creating, implementing, executing and evaluating the Company's results and actions that materialize the purpose of "Being the leading independent oil and gas production company in Brazil" and thus contribute to sustainable development and value generation for all the Company's stakeholders.

Communication and Sustainability Management

Responsible for promoting the sustainability vision and culture among the internal and external publics, supporting the other areas in the creation, structuring, and execution of projects, programs, and goals that strengthen the commitment to sustainable development.

Managements and other areas

All Enauta's employees are responsible for the observance of the Policy guidelines in their activities and areas of responsibility, disseminating the vision of sustainability and developing programs that contribute to the improvement of performance in environmental, economic and social aspects.

6. Scope

The Policy applies to Enauta Participações S.A. and all its controlled companies ("Company"). The provisions of this Policy must be observed by all employees and legal representatives, as well as suppliers acting on behalf of the Company.

7. Communication

The Company is committed to the disclosure and dissemination of this Policy, as well as of the actions taken and results achieved, so that all stakeholders can follow the evolution of corporate governance and management on the commitment to sustainable development.