Rio de Janeiro, June 29, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that its Board of Directors approved the 2016 Annual Letter of Public Policies and Corporate Governance.

The letter is a requirement of Law 13.303/2016, Decree 8.945/2016 and the B3’s Corporate Governance Program for State-Owned Companies plus transparency requirements pursuant to current legislation.

This letter is intended for the general public and collects a summary of the key information included in the 2016 Reference Form, pertaining to commitments to the achievement of public policy objectives, activities developed, control structure, financial and economic data, risk factors, corporate governance policies and practices, and description of the Company’s management composition and remuneration.

This measure reaffirms Petrobras’ commitment with the continuous improvement of its governance, as well as its alignment to best market practices.

The 2016 Annual Letter of Public Policies and Corporate Governance is available on the Internet at the Company’s website (http://www.petrobras.com.br/ri).