Petrobras Says Not Party In Arbitrations

(Petrobras, 26.Nov.2020) — Petrobras, in relation to the news published in the Exame magazine yesterday, informs that it is not a party in the arbitrations that are jointly pending before the Market Arbitration Chamber of B3, established by two minority shareholders, based on article 246 of Law 6,404/76, against the Federal Government, as the controlling shareholder.

As a way to serve better its interests and those of all its shareholders, Petrobras only monitors these procedures, which are public, for eventual clarification to the arbitrators.

The arbitrations are in an initial stage and the federal government has adopted judicial measures to prevent the continuation of both of them, with the argument that they are not bound by the arbitration clause stated in Petrobras’ bylaws.