4.3.25Trade and Other Payables

Trade and other payables (summary)

’Trade payables’ increased mainly as a result of an increase in payables to suppliers for FPSOs in operation, partially offset by the divestment of the FPSO Aseng lease and operating entities.

’Accruals on projects and vessels’ increased mainly as a result of an increase for FPSOs under construction, partially offset by the consumption of accruals related to FPSO Alexandre de Gusmão and FPSO ONE GUYANA for which construction has been finalized during the period.

The increase in ‘Accruals regarding delivered orders’ is mainly related to FPSO Almirante Tamandaré, FPSO Alexandre de Gusmão and FPSO ONE GUYANA joining the fleet during 2025.

’Other payables’ mainly includes accrued liabilities arising from short-term employee benefits, such as employee bonuses and leave allowances.

For ’Contract liability’ refer to note 4.3.3 Revenue where the movement in current and non-current contract liabilities is detailed.

Payables related to ’Taxation and social security costs’ includes uncertain tax positions related mainly to various taxes other than corporate income tax.

’Other non-trade payables’ include an interest payable and the short-term portion of the outstanding payments related to the Leniency Agreement and the settlement with the Brazilian Federal Prosecutor’s Office (Ministério Público Federal). The long-term portion of the outstanding payments related to these agreements is presented in the line item ’Other non-current liabilities’ in the Company’s statement of financial position.

The line item ’Other non-current liabilities’ in the consolidated statement of financial position includes non-current contract liabilities of US$30 million, as detailed in note 4.3.3 Revenue.

The contractual maturity of the trade payables is analyzed in the liquidity risk section in 4.3.27 Financial Instruments − Fair Values and Risk Management.