Rio de Janeiro, December 16, 2016 – Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors, in a meeting held yesterday, approved the Company’s new Policy on Related-Party Transactions.

This Policy complies with the instructions and guidance by the Securities and Exchange Commission of Brazil – CVM, as well as the provisions under Law 13.303/16, and it represents another contribution to strengthening corporate governance at Petrobras.

The new Policy will take effect in 30 days after its approval, at which time the document will be available for Internet access on the Company’s website (http://www.petrobras.com.br/ri).