Petrobras – Clarification on news regarding the Business and Management Plan

Rio de Janeiro, November 29, 2018 – Petróleo Brasileiro S.A. – Petrobras, regarding the news article published today by O Globo newspaper under the headline “Petrobras plans to invest US$ 85 billion over the next 5 years” (“Petrobras pretende investir US$ 85 bilhões nos próximos 5 anos”), clarifies that there is no decision on the company’s Business and Management Plan for the 2019-2023 period.

As disclosed in a release on 11/27/2018, the Plan is still under discussion and was assessed by the Company’s Board of Directors in a meeting held yesterday, considering an investment proposal of approximately US$85 billion for the period. However, there was no decision by the Board.

In addition, regarding the partnerships and divestments program, the company clarifies that it has already achieved US$ 8.3 billion in concluded contracts for the 2017-2018 biennium and several projects are still ongoing.

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

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