Petrobras – Second Phase of the Temporary Diesel Price Subvention Program

Rio de Janeiro, June 8, 2018 – Petróleo Brasileiro S.A. – Petrobras, further to the material facts disclosed on 5/28/18 and 6/1/18, informs that its Board of Directors approved, in an extraordinary meeting held yesterday, the company’s adhesion to the 2nd phase of the of economic subvention program for the commercialization of diesel, established by Provisional Measure No. 838/2018 and regulated by Decree No. 9.403, of June 7, 2018.

The rules establish a subvention offered by the Federal Government as encouragement for agents that commercialize diesel to reduce their prices and keep them stable during a predetermined period. In return, those who choose to join the Program, which is extensive to all producers and importers, may obtain a refund for the discount offered, limited to R$ 0.30/liter, upon evidence.

The Decree published today establishes the Program guidelines for the period between June 8 and July 31, 2018 (2nd phase). The 1st phase, regulated by Decree No. 9.392 of May 30, 2018, counted on Petrobras participation, as per material fact disclosed on June 1, 2018, as well as 19 other agents. It is worth noting that adherence to the 2nd phase does not bind the company to the next phase, from August 1 to December 31, 2018, which will be subject to subsequent regulation.

The National Petroleum Agency (ANP) also published yesterday the methodology to update daily the price that will be used to calculate the subvention, which will take into account the international price of diesel and the exchange rate (“Reference Price”). ANP will publish daily the Reference Price and monthly the total amount of subsidy paid to each beneficiary, on its website (

Facts deemed relevant on the subject will be timely disclosed to the market.

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