Approval of public offering of shares of Petrobras Distribuidora (BR)

Rio de Janeiro, July 11, 2017 – Petróleo Brasileiro S.A. – Petrobras, pursuant to the material fact of June 22, 2017, reports that its Board of Directors approved at a meeting held today, the initial public offer of its fully-owned subsidiary Petrobras Distribuidora S.A. (BR), which will be effected through a secondary public offering of shares.

In its initial public offer, BR aims to join the special securities segment of B3 (former BM&FBOVESPA) named Novo Mercado, in line with the best practices of corporate governance.

All the necessary acts to perform the offer will be subject to approval of internal bodies of Petrobras and BR, as well as the analysis and approval of the respective regulating entities, pursuant to applicable legislation.

The present notice shall not be considered as an announcement of public offering and its execution will depend on favorable conditions in domestic and international capital markets.

Facts deemed material in this matter shall be timely communicated to the market.

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