Petrobras On Corporate Governance Program

(Petrobras, 29.Jan.2020) — Petrobras reports that it has requested today its withdrawal from the Corporate Governance Program for State-Owned Companies of B3 (Program). Petrobras’ adhesion to the Program took place on 08/08/2017. After that, the company continued to evolve in the improvement of its governance practices, having adhered to the special Level 2 Corporate Governance listing segment of B3, as disclosed to the market on 05/14/18, which stands out, among other aspects, by the stricter rules of transparency and governance. In this sense, Petrobras remains under the supervision of B3 as a publicly held company.  

In addition, the main Brazilian governance rules are duly outlined in the Law 13,303/16 and the Decree 8,945/16, to which the company is already subjected.  

Petrobras continues to stand out in recent years for the continuous improvement of its corporate governance rules and internal controls. In the specific scope of state-owned companies, Petrobras obtained the highest score in all assessment cycles of the Governance Indicator (IG-SEST), prepared by the Office of Coordination and Governance of State-Owned Companies  (Secretaria de Coordenação e Governança das Empresas Estatais – SEST), currently reporting to the Ministry of Economy.

Petrobras reiterates its commitment to the continuous improvement of its practices, always striving for greater efficiency and value generation, without however reducing its internal controls.

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