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Clarification on the revision process of the Transfer of Rights Agreement

Rio de Janeiro, May15, 2018 – Petróleo Brasileiro S.A. – Petrobras, in relation to the news published today in the press about the revision process of the Transfer of Rights Agreement, clarifies that discussions are ongoing between Petrobras’ internal committee, responsible for negotiating the Revision of the Transfer of Rights Agreement, and the Interministerial Commission, constituted through Interministerial Ordinance No. 15/2018.

However, to date, there are no definitions between the parties on the final outcome of the Revision, the amounts and possible means of payment to Petrobras. Any understanding between the parties must be submitted to the formal approval processes, both in Petrobras and in the Federal Government.

Facts deemed material on this subject shall be timely disclosed to the market.

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