Petrobras – Clarification on arbitration filed by minority shareholders

Rio de Janeiro, October 04, 2017 – Petróleo Brasileiro S.A. – Petrobras, in relation to the news published in the media about the arbitration filed by minority shareholders at the Arbitration Panel of B3, clarifies that no pension fund is part of the list of claimants, and that it is a proceeding filed by a legal entity and a small group of individuals.

The figures mentioned in the report are not included in the arbitration request, which does not quantify the value of the dispute, contrary to the provisions on the B3 Arbitration Panel’s regulation.

Petrobras considers that the legislation does not support this initiative, as the Company is a victim of the acts unveiled by the Lava Jato investigation, as recognized in all instances of the Judiciary that have pronounced on the subject, including the Federal Supreme Court. In this regard, Petrobras has so far received R$ 716 million, recovered by the Brazilian authorities, from companies and individuals involved in illegal practices that have harmed the Company.

In due time, Petrobras will submit its response, which will also indicate serious formal errors in the arbitration request.

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