Petroleo Brasileiro Petrobras : Resumption of competitive processes that result in sale of control

Rio de Janeiro, January 17, 2019 - Petróleo Brasileiro S.A - Petrobras, following up on the Material Facts disclosed on 07/03/2018, informs that its Executive Board has decided to resume the competitive processes for the sale of a 90% stake in Transportadora Associada de Gás S.A ('TAG'), sale of 100% of Araucária Nitrogenados S.A ('ANSA') and formation of partnerships in refining.

Regarding the divestment of TAG, whose respective competitive process was also suspended by a decision of the 4th Panel of the Federal Regional Court of the 5th Region, according to press release of 06/05/2018, it was taken into account the decision by the Superior Court of Justice of 01/15/2019, which complied with a request made by the Federal Government for reversal of the decision.

Furthermore, it was also taken into consideration the opinion of the Federal Audit Court ('AGU'), in which it concludes that Petrobras meets the requirements placed in the scope of the analysis by the Federal Supreme Court in ADI 5624 MC/DF, since it holds a legislative authorization to sell its subsidiaries and obeys the constitutional principles when divesting according to the procedure of Decree 9188 / 2017, which regulates certain provisions of the State Law (Law 13303 / 2016) and establishes the rules of governance, transparency and good market practices for the adoption of a special regime of asset divestments by federal mixed-capital companies.

Petrobras reinforces the importance of the Partnerships and Divestments Program to reduce its level of indebtedness and generate value through active portfolio management, in line with its Strategic Plan and 2019-2023 Business and Management Plan.