Petroleo Brasileiro Petrobras : Extraordinary General Meeting approved the sale of stake in Nova Transportadora do Sudeste, among other matters

Rio de Janeiro, November 30, 2016 - Petróleo Brasileiro S.A. - Petrobras announces that today, the Extraordinary General Meeting of Shareholders (EGM) approved the sale of 90% of its stake in Nova Transportadora do Sudeste (NTS), for USD 5.194 billion, to fund Nova Infraestrutura Fundo de Investimento em Participações, managed by Brookfield Brasil Asset Management Investimentos Ltda.

The transaction is part of the company's USD 15.1 billion divestment plan for the 2015-2016 biennium and is still subject to compliance with the precedent conditions laid down in the contract.

At the EGM, the name of Mr. Marcelo Mesquita de Siqueira Filho was also approved as Board member elected by the minority stockholders.

Finally, the EGM approved the proposed changes to the Bylaws to improve the practices and corporate governance of companies controlled by the government, in line with the new requirements of Law 13.303, which rules the legal status of public and mixed capital companies, approved on June 30, 2016, and also aiming to comply with the requirements of the Corporate Governance Program for State-owned Companies of BM&FBovespa.