Petrobras Disclosure of Reduction in Relevant Shareholding Interest

Rio de Janeiro, February 26th, 2018 – Petróleo Brasileiro S.A. – Petrobras, in compliance with article 12 of CVM Instruction 358 of January 3, 2002 and Circular Letter CVM/SEP/No001/2017, informs that it was notified by the National Bank for Economic and Social Development (“BNDES”) and BNDES Participações SA (“BNDESPAR”), a wholly-owned subsidiary of BNDES, that BNDESPAR sold preferred shares issued by Petrobras, so the two institutions began to manage less than 25% of the preferred shares issued by the company, according to the information below.

I. BNDES and BNDESPAR had, on 02/20/2018, 1,411,650,454 preferred shares, representing 25.199% of the total number of preferred shares issued by Petrobras. In the period from 02/21/2018 to 02/23/2018, BNDESPAR sold 19,969,000 preferred shares, so BNDES and BNDESPAR jointly started securitizing the total of 1,391,681,454 preferred shares, representing 24.842% of the total preferred shares issued by the company, falling below the level of 25%;

II. the purpose of the shareholding is strictly for investment purposes, and does not aim to alter the shareholding control or the administrative structure of Petrobras;

III. BNDES and BNDESPAR have not entered into any contracts or agreements that govern the exercise of voting rights or the purchase and sale of securities issued by Petrobras;

IV. BNDES is headquartered in Brasília, Federal District, at Centro Empresarial Parque Cidade, Setor Comercial Sul – SCS, Quadra 9, Torre C, 12º andar, and services office, in the city of Rio de Janeiro, State of Rio de Janeiro, at Avenida República de Chile no. 100, enrolled with CNP/MF under No. 33.657.248/0004-21. BNDESPAR is headquartered in Brasília, Federal District, at Centro Empresarial Parque Cidade, Setor Comercial Sul – SCS, Quadra 9, Torre C, 12º andar and services office, in the City of Rio de Janeiro, State of Rio de Janeiro, at Avenida República de Chile no. 100, enrolled with the CNPJ/MF under No. 00.383.281/0001-09.