Rio de Janeiro, July 26, 2017 – Petróleo Brasileiro S.A. – Petrobras, in compliance with the provisions of Instruction no. 358, of January 3, 2002, by the Securities and Exchange Commission of Brazil (“CVM”), reports that its Board of Directors has approved, in a meeting held today, the 5th (fifth) issue of simple, nonconvertible, unsecured debentures (“Debentures”), in up to four series, with allocation of volumes among the series to be defined in a bookbuilding procedure (“interconnecting tranches”) in the total amount of up to R$ 5,000,000,000.00 (five billion reais) for public distribution, with restricted distribution efforts, pursuant to CVM Instruction 476, of January 16, 2009.

This issue provides for a minimum of R$ 800,000,000.00 (eight hundred million reais) to be allocated in the first and/or second series (which will be “Infrastructure Debentures”) and R$ 3,200,000,000.00 (three billion and two hundred million reais) to be allocated in the third and/or fourth series.

Infrastructure Debentures will compose two series featuring the incentive provided for in article 2 of Law no. 12,431, of June 24, 2011, under which terms Ministry of Mines and Energy Ordinance no. 457, of September 29, 2015, was issued, which classifies as a priority the investment project in the oil and natural gas infrastructure area named “Exploration and Production Development Program for Transfer of Rights Fields,” held by Petrobras.

The Debentures will be distributed under the hybrid offering regime for the total amount of issuance, partially under firm underwriting, partially under the best efforts regime, by financial institutions authorized to operate in the securities distribution system. The final rates of the debentures will be defined after a bookbuilding procedure.

This Material Fact is for information only, pursuant to current legislation, and shall not be construed or considered for all legal purposes and legal, as material for the sale and/or disclosure of the Debentures.