Petroleo Brasileiro S.A. - Petrobras informs that its Board of Directors, in a meeting held today, approved the proposed incorporation of Companhia de Desenvolvimento e Modernizacao de Plantas Industriais (CDMPI).

The incorporation aims at simplifying and optimizing the corporate structure of Petrobras. Since this is an incorporation of a wholly-owned subsidiary, there will be no capital increase at Petrobras, nor will new shares be issued. The shares representing the capital of CDMPI will be extinguished, with the necessary accounting entries being made to Petrobras.

The operation is still subject to approval by Petrobras' General Shareholders' Meeting, to be convened in due course.

Contact:

Tel: 0800-282-1540

This document may contain forecasts within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Trading Act of 1934, as amended (Trading Act) that reflect the expectations of the Company's officers. The terms: 'anticipates', 'believes', 'expects', 'predicts', 'intends', 'plans', 'projects', 'aims', 'should,' and similar terms, aim to identify such forecasts, which evidently involve risks or uncertainties, predicted or not by the Company. Therefore, future results of the Company's operations may differ from current expectations, and the reader should not rely solely on the information included herein.

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