We received over R$204 million recovered by the “Car Wash” Operation

ParenteWe are seeking to receive a potential amount of R$5.5 billion related to the “Car Wash” Operation through the Courts. Of this amount, R$661 million have already entered our coffers, including R$204 million delivered symbolically today at the headquarters of the Public Prosecutor’s Office, in Curitiba, during a ceremony attended by our CEO, Pedro Parente. Another sum of approximately R$450 million, including amounts recovered by the Public Prosecutor’s Office of the State of Paraná and of the state of Rio de Janeiro, had been delivered to the company between 2015 and 2016.

“Petrobras is taking all necessary measures to ensure its full compensation for the damage it suffered, including with regard to its reputation,” noted CEO Pedro Parente, pointing out that, for greater effectiveness, all actions are aligned with public authorities. “The value of today’s gesture is not just the millions that the company is recovering, but the value that no one is above the law. We are proud of Petrobras' active participation in this transformation process.”

The amounts already recovered came from plea-bargaining and leniency agreements signed by the Federal Prosecutor’s Office. There are eight more administrative misconduct suits in progress, under which the potential for compensation is R$5.5 billion and which we are co-authors of - seven of the Federal Prosecutor’s Office and one of the Union.

The Curitiba Courts have already set criminal fines totaling approximately R$730 million related to the portion of 30 criminal cases filed by the Federal Prosecutor’s Office in which we are prosecution assistants. In these actions, a final conviction of the defendants may entitle the company to minimum compensation for the damage suffered, since there would be the recognition that we are a victim of unlawful conduct. Based on these convictions in criminal cases, we may seek such compensation in the civil sphere, without prejudice to claiming for additional amounts due, for example, for moral damages and damages caused to our image. The criminal fines may be returned to us after all appeals have been exhausted. We have been monitoring these cases closely and collaborating fully with the Brazilian authorities since the beginning of the investigations.

We have also been admitted as an interested party in the administrative proceedings taking place at the Administrative Council for Economic Defense (Cade) to investigate the existence of a cartel involving suppliers. We intend to act directly in the production of evidence to show the cartel to the Cade, seeking, as far as possible, to speed-up the case, which, if bringing positive results to the company would greatly facilitate further action for compensation.

There is also the expectation of new reimbursements due to the signing of leniency agreements between public authorities and the legal entities under investigation by these authorities.

Since the beginning of the investigation, we have adopted a set of legal measures against companies and individuals, including former officials and politicians, who caused us financial and image damages. We have been monitoring the cases closely and collaborating fully with the Brazilian authorities.

Also attending the ceremony were the head prosecutor of the Federal Prosecutor’s Office in Paraná, Paula Conti Thá, the prosecutor of the Republic Deltan Martinazzo Dallagnol, Internal Revenue Service auditor Leonel de Oliveira Lima, Federal Police chief Maurício Moscardi Grillo, and judge Gisele Leme, director of the Federal Courts in Paraná.

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