Rio de Janeiro, February 1, 2018 – Petróleo Brasileiro S.A. – Petrobras announces that it has closed today a US$ 2 billion issuance of 2029 notes in the international capital markets. The notes were issued by Petrobras’ wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) and constitute general senior unsecured and unsubordinated obligations of PGF that are unconditionally and irrevocably guaranteed by Petrobras. Pricing occurred on January 25, 2018 and the terms of the notes are as follows:

The demand was 5x oversubscribed, with more than 300 orders originated by investors coming from United States, Europe and Latin America.

PGF will use the net proceeds from the sale of the new 2029 Notes towards the redemption price of the following Notes:

–  3.000% Global Notes due January 2019, in USD
–  7.875% Global Notes due March 2019, in USD
–  3.250% Global Notes due April 2019, in EUR

Petrobras will continue to evaluate market opportunities with the intention to reduce costs and to extend the average duration of its debt portfolio towards the leverage target of the Company’s Business and Management Plan 2018-2022.