On Wednesday, September 9, 2026, OceanPact (OPCT3) reported that, on the previous day, the deadline had expired for Petrobras to file additional appeals in the proceeding in which subsidiary UP Offshore Apoio Marítimo Ltda. claims amounts owed by the oil company under the charter contract for the vessel UP Coral (Case No. 0266741-35.2020.8.19.0001, the “Coral Case”). According to the company, no new appeals were found in the Superior Court of Justice (STJ) electronic system.
OceanPact highlighted that, if the absence of appeals is confirmed, to be certified by the STJ clerk’s office, the terms of the ruling—which has already been upheld on appeal—that granted UP’s claims in the Coral Case will become final, and the enforcement phase of the decision will begin.
The company reiterated that, as disclosed in the Material Fact dated June 30, 2023, the disputed receivables in the Coral Case and in other lawsuits filed by UP against Petrobras for the collection of daily rates under terminated contracts (“UP Cases”) were partially assigned. UP retained the right to a future majority share of the amount actually recovered that exceeds the upfront payment received in the assignment, adjusted as agreed.
Also as disclosed in the Material Fact dated February 27, 2026, regarding the business combination between OceanPact and CBO Holding S.A., any economic benefits arising from the UP Cases will be earned exclusively by those who are shareholders of OceanPact immediately before the closing of the transaction, scheduled for September 16, 2026.
