Petrobras announces payment of shareholder remuneration

December 18, 2019

Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, at a meeting held today, approved the distribution of anticipated remuneration to shareholders as interest on equity, in the total gross amount of R$ 2,352,827,349.18, corresponding to R$ 0.42 per outstanding preferred share.

The payment will be made on February 07, 2020 and shareholders will be entitled to this
remuneration as follows:
1. The record date for owners of Petrobras shares traded on B3 will be December 26, 2019, and for holders of American Depositary Receipts (ADRs) traded on the New York Stock Exchange- NYSE will be December 30, 2019.
2. Petrobras’ shares will be traded ex-dividends on B3 and NYSE as of December 27, 2019.
3. Holders of PBR and PBRA ADRs will receive the payment as of February 17, 2020.
The amount of R$ 0,42 will be adjusted by Selic interest rate from 12/31/2019 to 02/07/2020.

According to the Brazilian law, the distribution of interest on equity is subject to the deduction of withholding income tax, except for shareholders whose registered data proves to be immune or exempt, or shareholders domiciled in countries or jurisdictions for which the law establishes different treatment.

This anticipated amount as interest on equity will be considered as a component of the minimum mandatory dividend for 2019, including the minimum dividend owed to preferred shares.

This anticipation is aligned with the principles of stability and predictability of payments to shareholders, as established in Petrobras Shareholder Compensation Policy, which can be accessed at the company’s website (http://www.petrobras.com.br/ri).