Petrobras Redeems Five Series Of Notes

(Petrobras, 23.Nov.2020) — Petrobras’ wholly-owned subsidiary Petrobras Global Finance B.V. (PGF) has delivered notices of redemption to the holders of the outstanding 5.375% Global Notes due 2021 (“5.375% Notes”), 8.375% Global Notes due 2021 (“8.375% Notes”), 3.750% Global Notes due 2021 (“3.750% Notes”), 6.125% Global Notes due 2022 (“6.125% Notes”) and 5.875% Global Notes due 2022 (“5.875% Notes” and, together with the 5.375% Notes, the 8.375% Notes, the 3.750% Notes and the 6.125% Notes, the “Notes”).

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The redemption date for the Notes will be 23 December 2020.

The redemption price for the 5.375% Notes will be the greater of (A) 100% of the principal amount of such Notes and (B) the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 30 basis points (the “5.375% Notes Redemption Price”), plus in the case of each of clauses (A) and (B) above, accrued interest on the principal amount of such Notes from 27 July to (but not including) the Redemption Date. The 5.375% Notes Redemption Price will be determined and communicated to holders of the 5.375% Notes on the third Business Day preceding the Redemption Date.

The redemption price for the 8.375% Notes will be the greater of (A) 100% of the principal amount of such Notes and (B) the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on an annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 50 basis points (the “8.375% Notes Redemption Price”), plus in the case of each of clauses (A) and (B) above, accrued interest on the principal amount of such Notes from 23 November to (but not including) the Redemption Date. The 8.375% Notes Redemption Price will be determined and communicated to holders of the8.375% Notes on the third Business Day preceding the Redemption Date.

The redemption price for the 3.750% Notes will be the greater of (A) 100% of the principal amount of such Notes and (B) the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on an annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Bund Rate plus 35 basis points (the “3.750% Notes Redemption Price”), plus in the case of each of clauses (A) and (B) above, accrued interest on the principal amount of such Notes from 14 January to (but not including) the Redemption Date. The 3.750% Notes Redemption Price will be determined and communicated to holders of the 3.750% Notes on the third Business Day preceding the Redemption Date.

The redemption price for the 6.125% Notes will be the greater of (A) 100% of the principal amount of such Notes and (B) the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on an annual basis (assuming a 360-day year consisting of twelve 30-day months) at, in each case, the Treasury Rate plus 50 basis points (the “6.125% Notes Redemption Price”), plus in the case of each of clauses (A) and (B) above, accrued interest on the principal amount of such Notes from 17 July to (but not including) the Redemption Date. The 6.125% Notes Redemption Price will be determined and communicated to holders of the 6.125% Notes on the third Business Day preceding the Redemption Date. The redemption price for the 5.875% Notes will be the greater of (A) 100% of the principal amount of such Notes and (B) the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on an annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Bund Rate plus 55basis points (the “5.875% Notes Redemption Price”), plus in the case of each of clauses (A) and (B) above, accrued interest on the principal amount of such Notes from 7 March to (but not including) the Redemption Date. The 5.875% Notes Redemption Price will be determined and communicated to holders of the 5.875% Notes onthe third Business Day preceding the Redemption Date.

The 5.375% Notes Redemption Price, the 8.375% Notes Redemption Price, the 3.750% Notes Redemption Price, the 6.125% Notes Redemption Price and the 5.875% Notes Redemption Price are hereby referred to as the “Redemption Prices”. Payment on the5.375% Notes, the 8.375% Notes and the 6.125% Notes will be made prior to 3:00 pm New York time and payment on the 3.750% Notes and the 5.875% Notes will be made prior to 12:00 pm London time,in each case on the business day preceding the Redemption Date by credit to the account of The Bank of New York Mellon, the trustee for the Notes, as paying agent for the Notes. For the 5.375% Notes, the 8.375% Notes and the 6.125% Notes, the Trustee will cause funds to be paid to The Depository Trust Company for further payment to its participants. For the 3.750% Notes and the 5.875% Notes, the Trustee will cause funds to be paid to The Bank of New York Mellon, London Branch, as common depositary for Clearstream and Euroclear, for further payment to its participants. On the Redemption Date, the Redemption Prices, plus accrued interest, will become due and payable. Interest on the Notes will cease to accrue on and after the Redemption Date. Upon the redemption, the 5.375% Notes, the 8.375% Notes and the 6.125% Notes will cease to be listed on the New York Stock Exchange and the 3.750% Notes and the 5.875% Notes will cease to be listed on the Luxembourg Stock Exchange, and the Notes and the related guarantees by Petrobras will be cancelled and any obligation thereunder extinguished.

Because all of the Notes are held in book-entry form, payment of the Redemption Prices will be made directly to the registered holders.

PGF intends to fund the amounts necessary to redeem the Notes with available cash on hand.

For more information, please contact PGF by contacting Guilherme Saraiva, Finance Department, Manager of Capital Markets and Special Operations (telephone: +55 21 3224 3825; fax: +55 21 3224 4222; e-mail: petroinvest@petrobras.com.br)if you have any questions regarding this notice.

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