Petrobras – Partnerships in Refining: Suspension of competitive processes

Rio de Janeiro, July 3, 2018 – Petróleo Brasileiro S.A. – Petrobras, following up on the disclosures made on 04/27/2018, 05/23/2018 and 06/18/2018 regarding the competitive processes for the formation of partnerships in refining, informs that such processes are suspended until further notice, due to a temporary injunction issued by the Minister Ricardo Lewandowski, of the Federal Supreme Court, under the ADI 5624 MC/DF, which questions provisions of the State-Owned Companies Law (Law 13.303/2016).

The launch of the competitive processes for the formation of partnerships in refining occurred on 04/27/2018 and include the sale of 60% of the refineries Landulpho Alves (RLAM), in Bahia, and Abreu e Lima (RNEST), in Pernambuco, as well as the refinery Alberto Pasqualini (REFAP), in Rio Grande do Sul, and President Getúlio Vargas (REPAR), in Paraná, through the creation of subsidiaries and subsequent sale of its shares, including the transportation and logistics assets associated to these units as well.

These competitive processes are part of Petrobras strategic repositioning in refining, transportation and logistics segments, in line with Petrobras’ Strategic Plan and 2018-2022 Business and Management Plan, which provides for the establishment of partnerships and divestments as one of the main initiatives for risk mitigation, value adding, knowledge sharing, strengthening corporate governance and improving the company’s financiability.

These opportunities are consistent with the company’s proposed model disclosed on April 19, 2018, widely debated at the seminar “Petrobras Repositioning in Refining”, held at Fundação Getulio Vargas in Rio de Janeiro, with representatives of the Ministry of Mines and Energy (MME), the National Petroleum Agency (ANP), the Brazilian Institute of Petroleum, Natural Gas and Biofuels (IBP), the Industry and the Academy.

Petrobras is evaluating appropriate measures for its interests and the interest of its investors.

Facts deemed relevant will be timely disclosed to the market.

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