Petroleo Brasileiro Petrobras : Disclosure of Relevant Shareholding Position

Rio de Janeiro, November 14, 2018 - Petróleo Brasileiro S.A. - Petrobras, in compliance with article 12 of CVM Instruction no. 358, dated of 1/3/2002, reports that it was notified by BlackRock, Inc. ('BlackRock') that the latter has acquired preferred shares issued by the company and as of November 9, 2018 it manages share interests of approximately 5.00% of preferred shares issued by Petrobras, thus qualifying as a relevant holder of shares in the company's capital stock, as per the information below.

I. share interests held by BlackRock reached a combined 248,223,686 preferred shares and 16,024,225 American Depositary Receipts (ADRs), which represent preferred shares, to a total of 280,272,136 preferred shares, equivalent to approximately 5.00% of total preferred shares issued by the company, and 2,709,600 cash-settlement derivative financial instruments referenced by preferred shares, which represent approximately 0.04% of total preferred shares issued by the company;

II. the purpose of the aforementioned share interests is strictly investment, whereas there is no intention to alter shareholding control or the administrative structure of Petrobras;

III. BlackRock did not celebrate any contracts or agreements governing the exercise of voting rights or the purchase and sale of securities issued by Petrobras;

IV. BlackRock has registered headquarters at 55 East 52nd Street, New York City, New York State, 10022-0002, United States of America.