Petrobras approves dividends payment

February 20, 2020

Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, at a meeting held yesterday, approved dividends to shareholders, in the amount of R$ 1.7 billion to common shares (R$ 0.233649 per share) and R$ 2.5 million to preferred shares (R$0.000449 per share), based on the 2019 annual results.

The adjusted value of these dividends will be updated by the Selic rate from December 31st, 2019 until the payment date

The payment will be made on May 20th, 2020 and shareholders will be entitled to this dividend as follows:
1. The record date for owners of Petrobras shares traded on B3 will be April 22nd, 2020, and form holders of American Depositary Receipts (ADRs) traded on the New York Stock Exchange – NYSE will be April 24th, 2020.
2. Petrobras’ shares will be traded ex-dividends on B3 and NYSE as of April 23
rd, 2020.

Therefore, the total amount distributed to shareholders for the fiscal year 2019 will be R$ 10.6 billion, equivalent to R$ 0.73 per common share and R$ 0.92 per preferred share.
This shareholder compensation proposal will be sent to the endorsement of the General
Shareholder´s Meeting to be held on April 22nd, and considers that the Company will comply with the minimum dividend required by law and its bylaws, in line with its financial management and debt reduction target.

Petrobras Shareholder Compensation Policy can be accessed on the company’s website
(http://www.investidorpetrobras.com.br/en).