Petrobras on the Suspension of an Arbitration Award

August 26, 2020

Petróleo Brasileiro S.A. – Petrobras, in continuity to the notices to the market released on July 21 and July 29, 2020, hereby announces that a judicial decision was issued today in favor of the Company, determining the immediate suspension of the arbitration proceeding filed by Fundação Petrobras de Seguridade Pessoal (Petros) and Caixa de Previdência dos Funcionários do Banco do Brasil (Previ)
before the Market Arbitration Chamber (CAM) of B3, until a final judgment has been made regarding Petrobras’ motion to vacate a partial arbitration award.

As a result of the rules of the CAM, the motion was filed under seal and the proceedings are confidential.

Petrobras reinforces that it will continue to seek vacatur of the partial award, due to its serious flaws and improprieties, and will continue to defend itself vigorously, in respect of its current shareholders, in all
arbitrations to which it is a party.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.