Favorable decision by CVM Collegiate on
Sanctioning Administrative Process


Rio de Janeiro, July 11, 2017 - Petróleo Brasileiro S.A. – Petrobras reports
that the Collegiate of the Securities and Exchange Commission of Brazil ("CVM"),
in a public meeting held today, expressed an understanding favorable to the
company in the CVM Sanctioning Administrative Process no. RJ2015/10276.

The purpose of said process is to investigate a possible failure to disclose
information included in the 2010 Public Offering Prospect, on the acquisition of
voting rights by preferred shareholders in the event of non-payment of their
minimum dividends.

The CVM Collegiate unanimously upheld the company's defense arguments,
reiterating Petrobras' positioning that the interpretation of the matter
published in the Prospectus was reasonable, justified and legitimate, there
being no fraudulent or inaccurate actions conducted by the company in the
preparation of such document.
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www.petrobras.com.br/ir
Contacts:
PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations Department I e-mail:
petroinvest@petrobras.com.br
Av. República do Chile, 65 – 10th floor, 1002 – B – 20031-912 – Rio de Janeiro,
RJ | Phone: 55 (21) 3224-1510 / 3224-9947

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