Petrobras hereby announces that, given the adverse conditions in the capital market, its Board of Directors approved, in a meeting held last friday (10/23), the postponement, for an undetermined period, of the registration as a publicly-held company and the IPO of its wholly-owned subsidiary Petrobras Distribuidora (BR). These processes had been authorized by the Board on August 6, 2015, as the relevant fact released on the occasion.

The Board also authorized the search for strategic partner for BR, in accordance with the decision of the Executive Board published to the market in October 14th, 2015.

Facts deemed relevant on this topic will be timely communicated to the market.