Petrobras on CARF judgment result

Petróleo Brasileiro S.A. – Petrobras informs that today it obtained an unfavorable decision by the Third Panel of the Superior Chamber of Tax Appeals (CSRF), a body of the Administrative Council of Tax Appeals (CARF), as the Panel dismissed, by majority,  the special appeals filed by the Company and ruled that CIDE and PIS/COFINS Import would be due on payments for chartering vessels to companies abroad in 2010 (PIS/COFINS), 2011 (CIDE) and 2013 (CIDE, PIS/COFINS), amounting to approximately R$ 18 billion.

With this decision the debts become definitive at the administrative sphere. Thus, the Company, after the outcome of the administrative process, will adopt the appropriate legal measures to challenge the collection, as well as guarantee the debt.

The chances of losses are considered possible, being object of an explanatory note in the financial statements and the CARF’s decision does not imply an accrual in the Company’s financial statements.

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