Petróleo Brasileiro S A Petrobras : EGM - Manual for Shareholder's Participation - November, 30th 2020

EXTRAODINARY GENERAL

MEETING

November 30th, 2020

INDEX

Invitation.....................................................................................................................................................................................	03
Call Notice...................................................................................................................................................................................	04
Distance Voting Ballot Form…………………………………………………………………………………………………………………….. 07
Instructions for attending the Meeting……………………………………………………………………………………………………..	11
Items to be discussed in the Extraordinary General Meeting (EGM):

1. Amendment proposal of Petrobras' Bylaws………………………………………………………………………………. 16

Annex I - Petrobras' Bylaws with proposed changes………………………………………………………………...	18
Annex II - Comparison chart the current bylaws with the proposed changes………………………………	47
Annex III - Petrobras' Bylaws after changes……………………………………………………………………………..	56

INVITATION

Date: November 30, 2020

Time: 3 PM

Venue: Webex digital plataform.

Agenda:

Extraordinary Shareholders' Meeting

1. Amendment Proposal to the Bylaws to amend articles 17, 22, 23, 27, 30, 34, 47 and 57 of the Bylaws, and subsequent consolidation of the Bylaws, in accordance with the Management Proposal filed on the websites of the Brazilian Securities and Exchange Commission ("CVM") and the Company.

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EXTRAORDINARY GENERAL MEETING

CALL NOTICE1

The Board of Directors of Petróleo Brasileiro S.A. - Petrobras convenes an Extraordinary General Meeting of the Company's shareholders to be held on November 30, 2020, at 3:00 p.m., exclusively by digital format, pursuant to article 4, paragraph 2, item I and article 21‐C, paragraphs 2 and 3 of CVM Instruction 481, of December 17, 2009 ("CVM Instruction 481"), via the Cisco Webex digital platform ("Digital Platform"), in order to deliberate on the following matters:

1. Amendment Proposal to the Bylaws to amend articles 17, 22, 23, 27, 30, 34, 47 and 57 of the Bylaws, and subsequent consolidation of the Bylaws, in accordance with the Management Proposal filed on the websites of the Brazilian Securities and Exchange Commission ("CVM") and the Company.

Given the effects of the COVID‐19 (novel coronavirus) pandemic in Brazil and the measures taken by health and government authorities to address the pandemic, especially with regard to limiting the circulation and reunion of people, the Meeting shall be held exclusively by digital format , therefore shareholders participation can only take place as follows:

1. by using the Distance Voting Bulletin ("Bulletin"), the model of which is made available to shareholders at the Company's website (http://www.petrobras.com.br/ri) and the Brazilian Securities and Exchange Commission - CVM's website (http://www.cvm.gov.br);
2. by using the Digital Platform, in person or by an attorney‐in‐fact duly authorized under the terms of article 21‐C, paragraphs 2 and 3 of ICVM 481, in which case the shareholder may: (i) simply participate in the Meeting, having or not sent the Bulletin; or (ii) participate and vote in the Meeting, noting that, as to the shareholder who has already sent the Bulletin and wishes to vote in the Meeting, all voting instructions received by means of the Bulletin will be disregarded.

Proof of the status as the Company's shareholder must be issued under Article 126 of Law 6404, of December 15, 1976 ("Brazilian Corporation Law") and Article 13 of Petrobras' Bylaws, as applicable.

The Company informs shareholders who wish to participate in this Meeting that the instructions to access the Digital Platform and/or to send the Bulletin for Distance Voting , pursuant to CVM Instruction 481, can be found in the Manual for the Meeting and in the Meeting Instructions for Shareholders.

To participate in the Meeting through the Digital Platform, the shareholder must send a request to the Company's email [e-mail], up to two (2) days before the Meeting, that is, until 3 p.m. (Brasília time), November 28, 2020, , with the due following documents:

• Call Notice resubmitted due to the change of the Digital Platform, according to the Notice to Shareholders issued on November 24, 2020.

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• Individuals:

1. valid ID with photo (original or certified copy) of the shareholder. The following documents can be presented: (i) Identity Card (RG); (ii) Foreigner's Identity Card (RNE); (iii) Passport; (iv) Professional Association Card accepted as ID for legal purposes (for example, OAB, CRM, CRC, CREA); or (v) Driver's License (CNH);
2. proof of ownership of Petrobras' shares, issued by the depositary or custodian financial institution; and
3. email to receive an individual invitation to access the Digital Platform and, therefore, participate in the Meeting.

• Company or Legal Entity:

1. valid ID with photo (original or certified copy) of the legal representative. The following documents can be sent: (i) Identity Card (RG) or Foreigner's Identity Card (RNE); (ii) Passport; (iii) Professional Association Card accepted as ID for legal purposes (for example, OAB, CRM, CRC, CREA); or (iv) Driver's License (CNH);
2. documents proving the representation, including the appointment by power of attorney and a copy of the professional qualification documents and the minutes of the election of the board members; and, in the case of an investment fund, copies of (i) the fund's bylaws, (ii) the professional qualification documents of its board member or member of the management, as the case may be; and (iii) the minutes of the election of such board members. If these documents are in a foreign language, they must be translated into Portuguese by a sworn translator, but notarization and consularization are not required. Documents in English and Spanish do not need to be translated;
3. proof of ownership of Petrobras' shares, issued by the depositary or custodian financial institution; and
4. email to receive an individual invitation to access the Digital Platform and, therefore, attend the Meeting.

In the case of a loan of shares, the exercise of voting rights shall be the responsibility of the borrower, unless otherwise provided in the agreement signed between the parties.

Notwithstanding the possibility of participating via Digital Platform, Petrobras recommends shareholders to make use of the Distance Voting Bulletin.

The documents pertaining to the matters to be resolved on by this Extraordinary General Meeting, pursuant to CVM Instruction 481, are available to shareholders on the websites of the Company (http://www.petrobras.com.br/ri) and of the Brazilian Securities and Exchange Commission ‐ CVM (http://www.cvm.gov.br).

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Rio de Janeiro, October 27, 2020.

Eduardo Bacellar Leal Ferreira

Chairman of the Board of Directors

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DISTANCE VOTING BALLOT FORM

The form must be completed if shareholders choose to exercise their right to use the distance voting remotely, per CVM Instruction no. 481/09.

In this case, it is imperative to complete the file, available on www.petrobras.com.br/ri, with the full name (or corporate name) of the shareholder and the Registration number with the Ministry of Finance, whether a legal entity (CNPJ) or natural person (CPF), as well as an email address for contact.

In addition, for the ballot paper to be considered valid and the votes cast on it to be counted at the Extraordinary General Meeting to be held on November 30, 2020, at 3:00 p.m., in the exclusively digital form, pursuant to article 4, paragraph 2, item I and article 21-C, paragraphs 2 and 3 of CVM Instruction 481 (" Meeting"), the following instructions must be complied with:

1. ballot fields shall be duly completed, according to the shareholder's class of shares. To better identify each item, voting fields will be presented as follows:

1. [ON only]: Only holders of common shares (PETR3) shall vote;
2. [PN only]: Only holders of preferred shares (PETR4) shall vote;
3. [ON and PN]: Holders of common (PETR3) and preferred shares (PETR4) shall vote;

1. the shareholder or his/her legal representative(s), as appropriate and pursuant to current legislation, shall sign the ballot form and initial all its pages, a digital signature being allowed by digital certificate; and
2. the shareholder or his/her legal representative(s) shall forward the documents proving his/her capacity as shareholder and allowing his/her participation in the Meeting, together with the ballot paper and, in the case of foreigners, the sworn translation of the documents if they are not in Spanish or English, all in accordance with the instructions specified below and in the Meeting Manual disclosed by the Company.

Guidelines for sending the form

Shareholders who choose to exercise their right to use the distance voting may:

1. fill in and send this form directly to the Company; or
2. relay completion instructions to suitable service providers, according to the following guidelines:

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Exercise of distance voting rights using a custodian

Shareholders who choose to exercise their right to vote via their custodian agent shall relay their voting instructions according to the rules defined by the custodian, which forwards said voting manifestations to the [B]3 Central Depository. For such, shareholders shall contact their custody agents to check the proper procedures.

According to CVM Instruction no. 481/09, shareholders shall relay ballot form completion instructions to their custody agents up to seven days before the date on which the Shareholders' Meeting will be held, namely, until 11/23/2020 (inclusive), except if a different term is defined by their custody agents.

Petrobras has up to three days from ballot form receipt to inform shareholders that submitted documents are eligible for the vote to be considered valid, or to warn of the need for correction and resubmission of the ballot form or accompanying documents, stating their period of receipt within up to seven days before the Shareholders' Meeting.

It should be noted that, as ordered by CVM Instruction no. 481/09, upon receiving shareholder voting instructions through their respective custody agents, the [B]3 Central Depository shall disregard any conflicting instructions in connection to the same deliberation that were issued by the same enrollment number in CPF (retail investors) or CNPJ (legal entities).

Exercise of distance voting rights using a book-entry share administrator

In addition to the previous options, shareholders holding book-entry shares can exercise their right to vote using Banco Bradesco, which is the managing institution for Petrobras' Book-Entry Shares system. In this case, the shareholder/representative shall deliver the duly completed distance voting ballot form at any Banco Bradesco branch.

According to CVM Instruction no. 481/09, shareholders shall relay ballot form up to seven days before the date on which the Shareholders' Meeting will be held, namely, until 11/23/2020 (inclusive), except if a different term is defined by Banco Bradesco.

Exercise of distance voting via direct remittance of ballot form by shareholders to Petrobras

Shareholders who choose to exercise their right to use the distance voting may, alternatively, do it directly to the Company, for which end the following documents are to be remitted to Av. República do Chile, 65, 18º andar - sala 1803, Centro, CEP: 20031-912, Rio de Janeiro/RJ - Brasil, care of the Department of Individual Investor Relations - Shareholder Support and/or send it to the e-mail [e-mail], with request for confirmation of receipt:

1. ballot paper duly completed, signed and with all pages initialled, digital signature being allowed, by means of digital certificate;

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1. following documents:

1. for individual investors:

• valid photo ID and CPF number;
• in the case of representative (engaged less than one year from the date of the General Meeting) forward documentation with certified signature and the representative's identity.
  (b) for legal persons:
• latest bylaws or consolidated social contract and the corporate documents proving the legal representation of shareholder;
• CNPJ; and
• photo ID document of the legal representative.

(c) for investment funds:

• last consolidated fund rules with CNPJ;
• bylaws or social contract of its administrator or manager, as appropriate, in compliance with the fund's voting policy and corporate documents proving the powers of representation; and
• photo ID document of the legal representative.

The following identity documents will be accepted, provided that with photo: ID, Foreigner ID, driver's license, Passport or officially recognized professional class cards.

The shareholder must deliver the ballot paper to the Company no later than five (5) days before the date of the Meeting, i.e., no later than 6:00 p.m. on Wednesday, 11/25/2020.

Petrobras has up to 3 (three) days from receipt of the ballot paper to notify the shareholder that the documents sent are suitable for the vote to be considered valid or to advise that the ballot paper or the accompanying documents need to be rectified and sent back, subject to a deadline prior to the date of the Meeting.

Common rules for sending and validating the ballot paper remotely

In this Meeting, Petrobras will exclusively waive the need to send the physical copies of the shareholder representation documents to the Company's office, as well as the acknowledgement of the signature of the grantor in the power of attorney for shareholder representation, notarization, consularization, apostillation and sworn translation of all shareholder representation documents, simply by sending a simple copy of the original copies of such documents to the Company's e-mail address indicated above. Powers of attorney granted by Shareholders by electronic means shall only be admitted if digitally signed, through digital certification that guarantees the authenticity and protection of the information sent.

Regardless of the shipping method chosen, it is recommended that the shareholder forward, transmit or to do the protocol the ballot paper (which will be available at least 1 month before the Meeting), together with the relevant documents, as far in advance as possible, so that there is sufficient time for Petrobras' evaluation and possible return with reasons for rectification, correction and resubmission of documents

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The ballot paper submitted, transmitted or filed (i) after the deadline, (ii) that is not properly filled in or (iii) that is not accompanied by the necessary documents, as applicable, will be disregarded by the Company. In this case, if the shareholder has chosen to deliver the ballot directly to Petrobras, he/she will be informed of the rejection of his/her ballot via the indicated e-mail address.

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