Petróleo Brasileiro S A Petrobras : Petrobras receives final offer for sale of Liquigás

Petrobras receives final offer for sale of Liquigás

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Rio de Janeiro, November 7, 2019 - Petróleo Brasileiro S.A. - Petrobras reports that, as part of the competitive process for divestment of its entire shareholding in Liquigás Distribuidora S.A., the group comprised of Copagaz, Itaúsa and Nacional Gás Butano submitted the best final offer for the company's acquisition, in the amount of R$ 3.7 billion.

The transaction will still be subjected to approval by the relevant Petrobras bodies and further project steps will be disclosed to the market in a timely manner.

This operation is in line with the portfolio optimization and the improvement of the company's capital allocation, aiming at generating value for our shareholders.

www.petrobras.com.br/ir

Contacts:

PETRÓLEO BRASILEIRO S.A. - PETROBRAS | Investor Relations Department I e-mail: [e-mail]

Av. República do Chile, 65 - 10th floor, 1803 - 20031-912 - Rio de Janeiro, RJ | Phone: [phone]

FORWARD-LOOKING STATEMENTS

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to risks and uncertainties. The forward-looking statements, which address the Company's expected business and financial performance, among other matters, contain words such as "believe," "expect," "estimate," "anticipate," "optimistic," "intend," "plan," "aim," "will," "may," "should," "could," "would," "likely," and similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. There is no assurance that the expected events, trends or results will actually occur. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.The Company's actual results could differ materially from those expressed or forecast in any forward-looking statements as a result of a variety of assumptions and factors. These factors include, but are not limited to, the following: (i) failure to comply with laws or regulations, including fraudulent activity, corruption, and bribery; (ii) the outcome of ongoing corruption investigations and any new facts or information that may arise in relation to the "Lava Jato Operation"; (iii) the effectiveness of the Company's risk management policies and procedures, including operational risk; and (iv) litigation, such as class actions or proceedings brought by governmental and regulatory agencies. A description of other factors

can be found in the Company's Annual Report on Form 20-F for the year ended December 31, 2017, and the Company's other filings with the U.S. Securities and Exchange Commission.