Clarification on oil refining partnerships

04/02/2018

Rio de Janeiro, April 2, 2018 - Petróleo Brasileiro S.A. - Petrobras clarifies, in relation to the news published by the Brazilian newspaper “Folha de São Paulo”, on March 31, 2018, entitled “Petrobras avalia venda de 25% do refino” (Petrobras evaluates the sale of 25% of refining), that there is no decision on the model of partnerships and disinvestments in refining by its Executive Board or its Board of Directors.

The company also informs that it had already disclosed in its 2017-2021 Business and Management Plan (PNG), on September 20, 2016 and reinforced in its 2018-2022 PNG, on December 21, 2017, its strategy to reduce the risk and to add value in its operations through partnerships in the refining, transportation, logistics, distribution and marketing segments, seeking to repeat the successful experience of partnerships in the exploration and production segment, while maintaining its strategy as an integrated energy company.

Since then, several business models have been discussed, with no decision taken on the opportunity to be offered to the market, encompassing the final model of partnership and the assets involved.

Facts deemed relevant on the subject will be timely disclosed to the market.