Closing of the Public Offering of Petrobras Distribuidora Shares

Rio de Janeiro, December 22, 2017 - Petróleo Brasileiro S.A. – Petrobras reports
the closing, on this date, of the Public Offering for secondary distribution of
334,937,500 common shares issued by Petrobras Distribuidora S.A. (BR), pursuant
to CVM Instruction CVM 358/2002 and article 29 of CVM Instruction 400/2003
(“Offering”).

The total number of shares already takes into account 43,687,500 shares of the
Supplementary Lot sold by the Selling Shareholder within the Offering, under the
same conditions and prices as the Shares initially offered, for the price of R$
15.00 per share, which were settled on 12/21/2017, to meet the excess in demand
noted during the Offering, pursuant to article 24 of CVM Instruction 400. With
the settlement of the Supplementary Lot shares, the total amount of the Offering
is now R$ 5,024,062,500.00.

Additional information can be found at the Notice of Closing (Anúncio de
Encerramento), available at the website of CVM (www.cvm.gov.br) or Petrobras
(http://www.petrobras.com.br/ri), in Portuguese.

______________________________________________________________________________
www.petrobras.com.br/ir
Contacts:
PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations Department | 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

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, 2016, and
the Company’s other filings with the U.S. Securities and Exchange Commission.