Petrobras's Board of Directors in a meeting held today decided to create a Department to handle the areas of Strategy, Organization and Management System, increasing its Executive Board from seven to eight members.

The creation of this new Department is aimed to strengthen the activities related to the Strategic, Business and Management Plans of Petrobras and its developments on the Company, thus ensuring higher control over its expenditures and investment projects. The new department improves the corporate governance changes implemented as of 04/28/2016 and increases the focus on managerial processes.

There will be no changes to the global amount of management compensation approved by the Annual Shareholders’ Meeting on 04/28/2016.

The implementation of the new department is dependent upon an amendment to Petrobras's Articles of Incorporation, the proposal of which will be put forward to the Annual Shareholders’ Meeting, to be called in due course, and in which some additional amendments to the Articles of Incorporation will also be resolved, such as adjustments regarding resolutions from the Interministerial Committee of Corporate Governance and Management of Equity Interests of the Union (CGPAR), among other matters.