Petrobras announced that on February 5, 2020, it priced the global offering by Banco Nacional de Desenvolvimento Econômico e Social – BNDES (the “Selling Shareholder”) of 734,202,699 common shares, without par value, of Petrobras (“Common Shares”), including 168,140,000 Common Shares in the form of American Depositary Shares, representing two Common Shares (the “Common ADSs”). The global offering consists of (i) an international offering of Common Shares and Common ADSs in the United States and other countries outside Brazil, which was registered with the U.S. Securities and Exchange Commission (the “SEC”), and (ii) a concurrent public offering of Common Shares in Brazil. The Common Shares were offered and sold to the public at a price of R$30.00 per Common Share. The Common ADSs were offered and sold to the public at a price of US$14.1646 per Common ADS (including an ADS issuance fee of US$0.03 per Common ADS). The aggregate proceeds of the global offering to the Selling Shareholder, after underwriting

discounts and commissions (before expenses), will be equivalent to approximately US$5.2 billion.

The global offering is scheduled to close on February 10, 2020, subject to satisfaction of customary conditions.

The Common ADSs are listed on The New York Stock Exchange under the symbol PBR. The Common ADSs offered and sold in the global offering are expected to be delivered on February 10, 2020, in time to settle trades completed on The New York Stock Exchange on February 6, 2020.

The Common Shares are listed on the São Paulo Stock Exchange (B3 S.A. – Brasil, Bolsa, Balcão) (“B3”) under the symbol PETR3. The Common Shares offered in the global offering are expected to be delivered on, February 10, 2020, in time to settle trades completed on the B3 on February 6, 2020.

Credit Suisse Securities (USA) LLC and BofA Securities are acting as global coordinators and joint bookrunners for the international offering. Banco Bradesco BBI S.A., Banco do Brasil Securities LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and XP Investments US, LLC are acting as joint bookrunners for the international offering. Banco de Investimentos Credit Suisse (Brasil) S.A., Bank of America Merrill Lynch Banco Múltiplo S.A., Banco Bradesco BBI S.A., BB-Banco de Investimento S.A., Citigroup Global Markets Brasil CCTVM S.A., Goldman Sachs do Brasil Banco Múltiplo S.A., Banco Morgan Stanley S.A., and XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários S.A. are acting as Brazilian underwriters in the Brazilian offering.

This communication does not constitute an offer to sell or the solicitation of an offer to buy the securities described, nor shall there be any sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Petrobras has an effective registration statement on file with the SEC. You may access this registration statement, including the related prospectus and, when available, the final prospectus supplement, for free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, a copy of the prospectus and, when available, the final prospectus supplement may be obtained by contacting Credit Suisse Securities (USA) LLC Prospectus Department at Eleven Madison Avenue, New York, NY 10010, e-mail: usa.prospectus@creditsuisse.com; BofA Securities at NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, Email: dg.prospectus_requests@bofa.com; Banco Bradesco BBI S.A. at Avenida Presidente Juscelino Kubitschek 1.309, 10º andar, CEP 04543-011, São Paulo, SP, Brazil; Banco do Brasil Securities LLC at 535 Madison Avenue, 34th floor, New York, NY 10022; Citigroup Global Markets Inc. at 388 Greenwich Street, New York, NY 10013;Goldman Sachs & Co. LLC Prospectus Department at 200 West Street, New York, NY, 10282;Morgan Stanley & Co. LLC at 1585 Broadway, New York, NY 10036; and XP Investments US, LLC at 55 W 46th Street, 30th Floor, New York, NY 10036.