Petrobras informs the intention of BNDES to evaluate the sale of its common shares

December 13, 2019

Petróleo Brasileiro S.A. – Petrobras informs that it has received correspondence from Banco Nacional de Desenvolvimento Econômico e Social (“BNDES”), in which
it communicates the intention to evaluate the sale up to the totality of common shares issued by Petrobras in its ownership, through a secondary public offering of shares with broad distribution efforts in Brazil and abroad in accordance with applicable registration exemptions (“Transaction”).

The BNDES approved the beginning of a selection process for hiring advisors for the Transaction. In addition, BNDES has also started studies to detail its terms and conditions, including the amount of shares issued by the company subject to the Transaction and its schedule, which will be timely defined and communicated to Petrobras.

Thus, the BNDES requests the cooperation of the company and its executives, in order to implement the Transaction, including the availability of information and documents necessary for the completion of the Transaction, pursuant to article 47 of Instruction 400/2003 of the Brazilian Securities and Exchange Commission.

As of November 30, 2019, BNDES held 734,202,699 Petrobras common shares, representing approximately 10% of the total common shares issued by the company.

This communication must not be considered as an offering announcement.

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