Clarification on arbitrations filed by pension funds

Rio de Janeiro, November 13, 2017 - Petróleo Brasileiro S.A. - Petrobras, in
relation to press reports, informs it has not yet been notified about the
adhesion of the Petros, Previ and Funcef pension funds to the arbitration filed
against the Company at the B3 Arbitration Chamber.
Petrobras considers that the legislation does not support this initiative, as
the Company is a victim of the acts unveiled by Operation Car Wash, as
acknowledged in all instances of the Brazilian Judiciary that issued an opinion
on the subject, especially the Brazilian Supreme Court. The Company will
continue to seek full reimbursement from the true culprits, since it understands
that this will enable it to preserve the interests of its shareholders and all
its stakeholders, in line with the Principles set forth in Law No. 6404/76
(Brazilian Corporation Law).
In this regard, Petrobras has received, to date, over R$ 800 million, recovered
by Brazilian authorities, from companies and individuals involved in criminal
practices that have harmed the Company. Additionally, it acts in more than 40
criminal actions as an assistant prosecutor of the Federal Prosecutors Office
and in 14 actions of administrative improbity.
Petrobras will continue to take all appropriate measures to guarantee its
interests and the interests of its shareholders.
______________________________________________________________________________
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
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, that are subject to risks and uncertainties.
The forward-looking statements, which address the Company’s expected business
and financial performance, among other matters, contain words such as “believe,”
“expect,” “estimate,” “anticipate,” “optimistic,” “intend,” “plan,” “aim,”
“will,” “may,” “should,” “could,” “would,” “likely,” and similar expressions.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date on which they are made. There is no
assurance that the expected events, trends or results will actually occur. We
undertake no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information or future 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, 2016, and
the Company’s other filings with the U.S. Securities and Exchange Commission.