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Petrobras Clarification on News: Negotiations Involving Braskem

Rio de Janeiro, July 17, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that it has received the Official Letter 272/2018/CVM/SEP/GEA-1, requesting the following clarification:

Official letter No. 272/2018/CVM/SEP/GEA-1

“Dear Sir,

1. We refer to the news published on July 14, 2018, in the newspaper Folha de S. Paulo, market section, under the title: “State-owned Company may remain in a new company with Braskem and LyondellBasell,” which includes the following statements: “The prospect of the Dutch company LyondellBasell becoming Braskem’s major stockholder could lead Petrobras to give up from selling its interest in the petrochemical’ company, as Petrobras’ investment plan required.

However, the state company’s CEO, Ivan Monteiro, told to Folha that the strategy of selling its stake might be re-evaluated in the event of a control transfer.

“We may have the chance of becoming partners in a company with worldwide presence,” he said. LyondellBasell is headquartered in Rotterdam and operates in 17 countries.”

2. In this regard, we requested a statement from the company about the veracity of the news and, if so, to explain the reasons why the company understood they did not regard a material fact, as well as a comment on any other information considered important on the subject. ”

Clarification

The news referred in the Official Letter in question addressed several issues related to the company, mentioning one of several possibilities to be evaluated by Petrobras, in the eventual conclusion of the negotiations Odebrecht S.A., the major shareholder of Braskem S.A., and LyondellBasell—which have already been informed to the Market through the Press Release disclosed on 06/15/2018.

Petrobras reaffirms, as previously disclosed, that if Odebrecht concludes the negotiations successfully, then the Company will review the terms and conditions of LyondellBasell’s offer, in order to evaluate the exercise of its rights set forth in the Shareholders’ Agreement of Braskem S.A.

It is important to clarify that the company re-evaluates its five-year Business and Management Plan on annual basis, in view of the business environment and possible adjustments in its strategic direction, as approved by its Executive Board and Board of Directors. The company reiterates its strong commitment to always review and assess different business opportunities that may create value for its shareholders.

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

Categories: Uncategorized

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