Disbursement of the China Development Bank loan facility

Rio de Janeiro, December 22, 2016 – Petróleo Brasileiro S.A. – Petrobras, in addition to the Material Fact disclosed on 12/16/2016, informs that today it received US$ 5 billion from the China Development Bank (CDB) regarding the facility agreement executed on 12/15/2016.

The Company also informs that will not need new net borrowing within the 2017-2018 period, in line with the 2017-2021 Business and Management Plan assumptions. However, Petrobras will continue to evaluate new funding opportunities in accordance to its liability management strategy, which focus on improving amortization profile and reducing the debt cost.

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