Engie Brasil Energia S.A. (BOVESPA:EGIE3), ENGIE SA (ENXTPA:ENGI) and Caisse de dépôt et placement du Québec won a bid to acquire 90% stake in Transportadora Associada de Gás S.A. from Petróleo Brasileiro S.A. - Petrobras (BOVESPA:PETR4) for €2.3 billion (BRL 10 billion) on April 5, 2019. Caisse de dépôt et placement du Québec, ENGIE SA (ENXTPA:ENGI) and Engie Brasil Energia S.A. (BOVESPA:EGIE3) agreed to acquire Transportadora Associada de Gás S.A. from Petróleo Brasileiro S.A. - Petrobras (BOVESPA:PETR4) on April 25, 2019. Engie Brasil Energia S.A., ENGIE SA and Caisse de dépôt et placement du Québec will pay €7.7 billion (BRL 33.4 billion), out of which €5.3 billion (approximately BRL 23 billion) will be the debt advanced and €2.5 billion (BRL 10.8 billion) which is including bank fees, will be for the equity of Transportadora Associada de Gás S.A. Out of the €2.5 billion (BRL 10.8 billion), Caisse de dépôt et placement du Québec will pay €0.9 billion (BRL 3.9 billion) and Engie Brasil Energia S.A. and ENGIE SA each will pay €0.8 billion (BRL 3.5 billion). On the closing date, Engie Brasil Energia S.A., ENGIE SA and Caisse de dépôt et placement du Québec will acquire 90% of Petrobras´ stake in TAG through a jointly owned Brazilian entity. Such entity will extend a loan to Transportadora Associada de Gás S.A. to reimburse its existing BNDES debt. The deal will help Petrobras to cut debts. The remaining 10% stake in Transportadora Associada de Gás S.A., will be retained by Petróleo Brasileiro S.A. The share acquisition and debt re-imbursement will be funded by sponsors equity and debt raised at the level of the Brazilian entity, which will later be incorporated into Transportadora Associada de Gás S.A. Engie Brasil Energia S.A., ENGIE SA and Caisse de dépôt et placement du Québec secured $6.1 billion (BRL 23.3 billion) of long-term and non-recourse acquisition financing in local and foreign currencies. The acquisition financing is fully committed and ready to be drawn upon closing of the acquisition. The funds were raised through a $2.4 billion (BRL 9.3 billion) cross-border loan from a syndicate of banks and BRL 14 billion securities issuance in Brazil. The remainder $2.8 billion (BRL 10.8 billion) was raised through equity. Lenders in the financing included Bradesco, Banco Itaú, BB-Banco de Investimento, BNP Paribas, Crédit Agricole Corporate and Investment Bank, ING Capital, Mizuho Bank, MUFG Bank, Société Générale, Sumitomo Mitsui Banking Corporation, Banco BNP Paribas Brasil, Banco Crédit Agricole Brasil and Itaú Unibanco.

The transaction is conditional to the approval of the extraordinary general meeting of Petrobras and the Conselho Administrativo de Defesa Econômica (CADE) (the Brazilian anti-trust authority), European Union anti-trust authority, general shareholders' meeting of Engie Brasil Energia S.A. and shareholders' agreement. The deadline for European Commission approval is April 30, 2019. As of April 16, 2019, EU Commission has approved the deal. As of May 9, 2019, CADE in Brazil approved the transaction without conditions. As of May 27, 2019, Petrobras has clarified that it has not yet been summoned of the injunction issued by Supreme Court Judge Edson Fachin, determining the suspension of the competitive process for the sale of 90% of its stake in Transportadora Associada de Gás S.A., therefore reinstating the decision of the Federal Court of the 5th Region that had suspended its sale on June 5, 2018. As of June 6, 2019, Minister Edson Fachin of Brazilian Supreme Court has released the sale. Petrobras will evaluate the decision and will act appropriately on behalf of its investors and its own interests. As of June 11, 2019, ENGIE has received a favorable opinion for the acquisition of 90% stake in Transportadora Associada de Gás S.A. The closing is expected before the end of the first semester 2019. As of June 6, 2019, Engie is still waiting for a finalization of the transaction before the end of the first half of 2019.

Plínio Simões Barbosa, Anna Carolina de Oliveira Malta, José Guilherme Berman, Camila Cuschnir, Luis Marcelo Abdalla, Jean Daniel Demattio Jaldin, Geórgia Carolina Malafatti and Carolina Marcondes Ferraz Astolfi Pedro of Barbosa, Müssnich & Aragão Advogados, and Frederico Cursino de Moura, Bruno Gandolfo Damico, Renato Souza Coelho, Paulo Casagrande, Guilherme Gaspari Coelho, Pietro Bianchi e Yves Dutra, Ricardo Peres Freoa, Laercio Munechika, Marina Falcone Chaves, Mariana Batista David and Caio Moliterno de Morais of Stocche, Forbes, Padis, Filizzola, Clapis Advogados, and Paulo Valois Pires, Guilherme Schmidt, Anna Paula Barbosa de Carvalho Góes, Manuela Carneiro Dana, Daniela Loureiro, José Eduardo Siqueira, Rodrigo Pinheiro, Lara Clarkson Lebreiro, Clarissa Prallon Perez, Ana Clara Scofield, Arthur Vasconcellos and Luciana Xavier Cotrim of Schmidt, Valois, Miranda, Ferreira & Agel Advogados, and Marcello Hallake, S.Wade Angus and Robert da Silva Ashley of Jones Day acted as legal advisor to ENGIE. Citi acted as financial advisor to ENGIE. Banco Morgan Stanley S.A. provided fairness opinion while Banco Santander (Brasil) S.A. (BOVESPA:SANB4) acted as financial advisor and Arthur Bardawil Penteado, Daniel Szyfman, Igor Marcell Ramos Finzi, Luana Komatsu Falkenburger, Bruno Gomes, Patrícia Matsubara, Gisela Ferreira Mation, Ivana Amorim De Coelho Bomfim, Maria Fernanda Soares, Laura Ducati Dabronzo, Anna Carolina Ramos Coelho Joppert, Gabriel Esteves Alves De Carvalho and Raphael Barboza Correia of Machado, Meyer, Sendacz e Opice acted as legal advisor to Petróleo Brasileiro S.A. - Petrobras. Alexandre Chequer, Victor Galante, Débora Yanasse, Guido Vinci, Michel Sancovski, Luís Inácio Lucena Adams, Gustavo Fernandes de Andrade, José Paulo Marzagão, Ludmila Arruda Braga, Eduardo Molan Gaban, Tiago do Monte Macêdo, Fernanda Albuquerque Junqueira Bastos, Dicéa Ferraz, Luciana Sodré, Maria Eugenia Kanazawa, Eduarda Nagle Gaulia, Lívia Seabra V. de Lima, Luiz Santiago, Francisco Bambozzi Mastropietro, Luís Inácio Lucena Adams, Gustavo Fernandes de Andrade, Guilherme Silveira, Fernando Issa and Anna Pedroso of Tauil & Chequer Advogados acted as legal advisor to Caisse de dépôt et placement du Québec. Alexandre Chequer, Victor Galante, Débora Yanasse, José Paulo Marzagão, Ludmila Arruda Braga, Tiago do Monte Macêdo, Dicéa Ferraz, Luciana Sodré, Eduarda Nagle Gaulia, Lívia Seabra V. de Lima, Fernando Issa and Anna Pedroso of Tauil & Chequer Advogados acted as legal advisor to Engie Brasil Energia. Mayer Brown LLP advised to Caisse de dépôt et placement du Québec. Mitsubishi Union Bank, N.A. acted as offshore collateral agent and TMF Group acted as onshore collateral agent in the financing deal. Peter Baumgaertner and Daniel Brown of Holland & Knight represented Mitsubishi Union Bank, N.A. and TMF Group. Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados also advised TMF Group as local counsel in Brazil. White & Case LLP, and Lobo de Rizzo Advogados advised the lenders.

Engie Brasil Energia S.A. (BOVESPA:EGIE3), ENGIE SA (ENXTPA:ENGI) and Caisse de dépôt et placement du Québec completed the acquisition of 90% stake in Transportadora Associada de Gás S.A. from Petróleo Brasileiro S.A. - Petrobras (BOVESPA:PETR4) on June 13, 2019.