Order denying Petrobras’ motion to vacate arbitration award issued in the Vantage case

Rio de Janeiro, May 17, 2019 – Petróleo Brasileiro S.A. – Petrobras, following up on the Press Release of March 8, 2019, hereby informs that today the United States District Court for the Southern District of Texas denied Petrobras’s motion to vacate and recognized the arbitral award rendered in the arbitration filed by Vantage Deepwater Company and Vantage Deepwater Drilling Inc. (“Vantage”).

The Vantage arbitration arose out of an agreement for the provision of drilling services procured by corruption, as revealed by Operation Car Wash.

As disclosed to the market on February 7, 2019, in the fourth quarter of 2018 Petrobras recognized a provision in connection with this case. As of March 31, 2019, the amount of the provision totaled US$ 720,000,000.00.

The order is subject to appeal and Petrobras will continue to take all measures to defend its interests.

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