Leniency agreement signed between Brazilian authorities, Petrobras and SBM

Rio de Janeiro, July 26, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that it signed today a leniency agreement with the Ministry of Transparency and the Office of the Comptroller General (CGU), the Attorney-General of the Union (AGU), SBM Offshore N.V. and SBM Holding Inc S.A.

The agreement provides for the payment of R$ 549 million by SBM to Petrobras in up to 90 days, in addition to the deduction of the nominal value of US$ 179 million from future payments owed by Petrobras to SBM based on prevailing contracts.

Following this agreement, SBM will be able to participate in current and future Petrobras tenders. In this case, SBM will have to pass through all compliance and controls filters that Petrobras suppliers are submitted.

The negotiation process was initiated on March 2015, a leniency agreement was signed and released to the market on July 15, 2016, however it did not come into force because the Public Prosecutor’s Office (MPF) did not ratify it, as disclosed on September 1, 2016.

The amount to be received by Petrobras adds to the R$ 1,475 million already received by the company, as compensation for damages, through plea bargain agreements.

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