Petrobras, pursuant to the press release disclosed on June 23, 2017, informs that the extrajudicial mediation procedure with Sete Brasil Participações S.A. (“Sete Brasil”) – currently under Judicial Reorganization - has been initiated, for which the mediator chosen by the parties is Mr. Gustavo Binenbojm.

According to Law 13.140/2015, the mediation is performed by an impartial third party, without decision-making power, who assists and encourages the parties to identify or develop consensual solutions to a particular controversy. Pursuant to articles 30 and 31 of the aforementioned Act, any and all information relating to the mediation procedure is confidential in relation to third parties.

Irrespective of the result of negotiations, it will be subject to the corporate governance and compliance standards of Petrobras, as well as approval by its relevant bodies.