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On September 19, 2018 the District Court in Rotterdam, Will Rule on Whether
International Investor Litigation against Petrobras Can Proceed in the
Netherlands.

The jurisdiction ruling is an important milestone in international investor
litigation against Petrobras.

Business Wire

STAMFORD, Conn. -- September 18, 2018

International Securities Associations & Foundations Management Company (ISAF)

Losses from investments in primary shares of Petrobras traded in Brazil on the
Brasil Bolsa Balcão S.A. or B3 - Brazil (formerly BM&FBOVESPA) and via linked
markets in Europe and also Bonds bought outside the US, will not be
compensated under the US $3 billion settlement in the US.

Petrobras has many subsidiaries, including Petrobras Global Finance B.V.,
which are headquartered in the Netherlands and the briberies and other fraud
conducted via the Netherlands or directly involving Dutch companies, provides
a strong nexus for jurisdiction for international investors to demand
litigation and resolution there. Petrobras’ controversial statements of
innocence are in stark contrast to its US $3 billion settlement for securities
traded in the US alone. Strong and growing skepticism to any meaningful
outcome resulting from Petrobras’ calls for arbitration at the Brazilian stock
exchange, have prompted institutional investors from around the world to rally
for proper objective court litigation and a fair resolution in the
Netherlands. A favorable jurisdiction ruling for the plaintiff, Stichting
Petrobras Compensation Foundation (“SPCF”), representing global investors
damaged by the “Lavo Jato” or “Operation Car Wash” scandal, will be a first
significant step towards investors’ outlook for recovery of some of the
billions investors lost, whether losses occurred in US dollars, Euros,
Brazilian Reais (Real) or other currencies.

The Foundation leading the litigation, has significant support from
Institutional Investors from around the world including investors in the US,
UK, Brazil, Netherlands, France, Germany, Spain, Italy, Nordic countries,
South Korea, Japan and others. Individual institutional investor losses range
in the millions, tens of millions and in some instances close to 100 million
Euros.

Additional History:

On January 23, 2017, SPCF filed a 172 page complaint against Petrobras on
behalf of damaged shareholders of Petrobras.

Most of Petrobras’ activities situated outside Brazil are structured via the
Netherlands (Rotterdam). Moreover, Petrobras raised billions of debt capital
from investors via its Dutch subsidiary, Petrobras Global Finance (PGF).
Petrobras (the Brazilian entity) has issued an unconditional guarantee towards
the debenture holders for the fulfillment of PGF's obligations. Providing
additional legal nexus to the Netherlands, the Petrobras corruption scandal
reached into the Netherlands via a Dutch company, SBM Offshore, which bribed
Petrobras executives and ultimately settled with the Dutch public prosecutor
for US $240 million, at that time the largest anti-corruption settlement in
Dutch corporate history.

Petrobras continues significant operations in the Netherlands to this day and
is subject to the supervision of European regulatory authorities pursuant to
various of its securities being traded and offered in European securities
markets.

In August 2018, a Dutch Court allowed American drilling company Vantage
Drilling International to restrict assets owned by Petrobras following an
international arbitration judgement for US $622 million. While the arbitration
is unrelated to the on-going securities fraud case against Petrobras in
Rotterdam, the ruling is another example of Dutch Courts adjudicating matters
involving Petrobras in the Netherlands.

A further press release on the Dutch litigation is expected shortly after the
District Court in Rotterdam announces the ruling at 11am CET on Wednesday,
September 19th.

Media Information

More information about the litigation can be found at www.pbcompensation.com.
SPCF appointed International Securities Associations & Foundations Management
Company (ISAF) to coordinate all administration with investors, including
funding of all litigation costs so investors can participate on a contingency
only basis with no upfront cost. More information about ISAF can be found
at www.isafmanagement.com

Claims Analysis and Processing. Battea Class Action Services, LLC, an
international leader in class action securities claims filing, has been
retained to collect client data and process and validate investor losses. More
information about Battea can be found at www.battea.com

View source version on businesswire.com:
https://www.businesswire.com/news/home/20180918005309/en/

Contact:

MEDIA GENERAL & INVESTORS:
ISAF Management
Adam Foulke, [phone]
[e-mail]
or
MEDIA LEGAL:
Lemstra Van der Korst N.V.
Flip Wijers, [phone]
[e-mail]
or
Jurjen Lemstra, [phone]
[e-mail]

https://www.bloomberg.com/press-releases/2018-09-18/on-september-19-2018-the-district-court-in-rotterdam-will-rule-on-whether-international-investor-litigation-against-petrobras