Petrobras approves settlements with investors to end
four individual lawsuits in the US


Rio de Janeiro, February 24, 2017 - Petróleo Brasileiro SA - Petrobras informs
that its Board of Directors approved today the conclusion of settlements to end
four individual lawsuits filed before the Federal Court of New York, USA, by New
York City Employees Retirement System (and others), Transamerica Income Shares,
Inc. (and others), Internationale Kapitalanlagegesellschaft mbH, Lord Abbett
Investment Trust - Lord Abbett Short Duration Income Fund (and others).

Petrobras had already entered into settlements to end other fifteen individual
lawsuits before the Federal Court of New York, as disclosed on October 21, 2016
and November 23, 2016.

As result of the agreements reached and the stage of negotiations in progress
with other plaintiffs of individual actions, the Company, currently, expects the
total amount of the provision for 2016 to be US$ 372 million, of which US$ 364
million had already been provisioned on September 30, 2016.

These four individual lawsuits were consolidated for purposes of judgment with
twenty three other individual actions and class action filed against the Company
(and others) before the Federal Court of New York, USA.  With today's
announcement, Petrobras reaches a settlement in 19 individual actions from a
total of 27 that were consolidated with the class action.

At the moment, it is not possible for Petrobras to make a reliable estimate of
the outcome of the class action.

These settlements, the terms of which are confidential, have the purpose of
eliminating uncertainties, burdens and costs associated with the continuity of
such disputes and do not constitute any acknowledgment of responsibility on the
part of Petrobras, which will continue to firmly defend itself in other ongoing
actions.



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

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the transactions described herein will be consummated or as to the ultimate
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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, 2015, and
the Company’s other filings with the U.S. Securities and Exchange Commission.