Petrobras – Clarification on News

Rio de Janeiro, November 19, 2018 – Petróleo Brasileiro S.A. – Petrobras reports that it received Official Letter No. 442/2018/CVM/SEP/GEA-1, which requests the following clarification:

Official Letter No. 442/2018/CVM/SEP/GEA-1

“Dear Executive Officer,
1. We refer to the news published today by news portal G1 in the business section, under the headline “Roberto Castello Branco aceita convite para presidir Petrobras” [“Roberto Castello Branco accepts invitation to preside Petrobras”] which includes the following statement:
“The press secretary to future Minister of the Economy Paulo Guedes confirmed on Monday (19) that economist Roberto Castello Branco has accepted the invitation to preside Petrobras in the Jair Bolsonaro administration.”
2. In this respect, we request comments from the company on the veracity of the news, and, if so, to explain the reasons why the company did not deem it to be a material fact, as well as comment on other information considered to be important on the subject.”


In relation to the news published in the press, Petrobras disclosed today a Material Fact reporting that its CEO Ivan de Souza Monteiro will leave the company on January 1st, 2019.

The Company clarifies that it has received no communication from the transitional government on Mr. Roberto Castello Branco’s nomination as Petrobras CEO, and will wait for the proper officialization by its Controlling shareholder to adopt the relevant internal procedures.

The nomination must be submitted to Petrobras’ corporate governance procedures, including the respective compliance and integrity assessments required for the succession process of the company, with appreciation by the Nominating, Compensation and Succession Committee and, subsequently, the decision of the Board of Directors.

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