Start of negotiations to revise the Braskem Shareholder’s Agreement

Rio de Janeiro, July 18, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it has begun negotiations with Odebrecht S.A. to promote the revision of the terms and conditions of the Braskem S.A. Shareholder’s Agreement, celebrated on February 8, 2010.

This revision aims to improve Braskem’s corporate governance and the corporate relationship between the parties, with the purpose of creating value for all Braskem shareholders.

Braskem is a publicly-traded company, with shares traded on stock exchanges in Brazil and abroad, with Odebrecht holding 50.1% of its voting capital and Petrobras holding 47%.

It should be noted that Petrobras is constantly pursuing the appreciation of its portfolio, which includes evaluating possible amendments in shareholders’ agreements it executes, in the companies in which it holds a stake.

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

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