According to a Material Fact released on 07/11/2017, the Board of Directors of Petrobras approved the opening of the capital of its wholly-owned subsidiary Petrobras Distribuidora SA (BR), which will be conducted through a secondary public offering of shares.

Regarding the percentage that will be offered, Petrobras informs that several scenarios were discussed, including those that were mentioned in the press, but there was no specific deliberation on the extent of the range, which will depend on the strategic and market conditions and, Therefore, will still be object of deliberation by the company's internal organs, maintaining a perspective of maintaining the shareholding control by Petrobras. It is important to clarify that the listing regulation of the new market, to which BR intends to adhere, requires that the minimum number of free float be 25%.