Petrobras obtains Certification in the Corporate Governance Program for State-Owned Companies

Rio de Janeiro, August 8, 2017 – Petróleo Brasileiro S.A. – Pursuant to the material fact disclosed on June 5th, 2017, Petrobras informs that it has received the certification in the Corporate Governance Program for State-Owned Companies, granted by B3 (former BM&FBovespa).

Petrobras has complied with all the compulsory measures of the Program and obtained 56 points among others required measures. In addition to that, the company commits to meet the following in the coming years:

(i) Disclose, in the Reference Form (Formulário de Referência) and in the Summarized Report of the Audit Committee relative to the fiscal year ending on 12/31/2017, the adequacy of the structure and budget of the Internal Controls and Compliance area;

(ii) Fully adopt all measures indicated in the Program until 08/07/2020;

(iii) Re-submit the Reference Form, including the referred activities, in case it identifies during the revision process of all its ongoing activities, new activities related to compliance with public interest, as well as update the Annual Letter of Corporate Governance and Public Policies;

(iv) In the case of amendments to Law 13.303/16 regarding prohibitions on the participation of members of the Board of Directors and the Executive Office in the Program, the Company shall amend its Nomination Policy to reflect the dispositions in the Program.

In addition, the opinion and the report issued by the Executive Office of Regulation of Issuers (Diretoria de Regulação de Emissores) of B3, as Official Letter DRE 481/2017 indicating the favorable decision and the score obtained, is available on the company’s website (
The certification is another important step in Petrobras’ commitment to the continuous improvement of its corporate governance, as well as to its alignment with the best practices of the market.

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