Public offering of Petrobras Distribuidora (BR) Shares

Rio de Janeiro, September 28, 2017 - Petróleo Brasileiro S.A. – Petrobras,
further to the Material Fact disclosed on 7/11/2017, reports that its Board of
Directors (BD) authorized, in a meeting held yesterday, the filing of a formal
request for registration of an initial public offering and  for registration of
Petrobras Distribuidora S.A. (BR) as a publicly-held company with the CVM -
Brazilian Securities and Exchange Commission, and a request to join the New
Market, B3's corporate governance highest level.

The BD also approved the disposal of 25% to 40% of the equity stake held by the
company in BR, within the scope of the offering to be carried out in Brazil.

All acts required for the holding of the offering will be subject to the
approval by Petrobras and BR internal offices, as well as to the review and
approval by the respective regulatory agencies, in compliance with the
applicable legislation.

This Material Fact should not be regarded as an offering announcement and said
offering will depend on favorable conditions in the domestic and international
capital markets.

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

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.