Petrobras Fair Fund

You received a Notice because our records indicate that either you submitted a claim in the Class Action or you may have purchased or otherwise acquired Petrobras common American Depository Shares (ADS) and/or preferred ADS during the period from March 1, 2010, through April 22, 2015, inclusive. The Notice you received is designed to notify you that you may be eligible to receive a payment from the Fair Fund.

This is an SEC Fair Fund and is separate and independent from the settlement funds previously established in the Class Actions entitled In re Petrobras Securities Litigation, No. 14‑cv‑9662 (S.D.N.Y. Dec. 8, 2014). However, the Fair Fund relates to allegations similar to those asserted in the Class Actions during the Relevant Period, which is subsumed in the Class Action period.

Persons who purchased or otherwise acquired Petrobras common American Depository Shares (ADS) and/or preferred ADS (“Eligible Securities”) during the period from March 1, 2010, through April 22, 2015, inclusive.

You are excluded from participation in the Fair Fund if you are:

1. Respondent;
2. Any person who was an officer or director of Petrobras during the Relevant Period, including, but not limited to, the Corrupt Executives identified by the SEC and the Individual Defendants as defined in the Class Action;
3. Any firm, trust, corporation, officer, or other entity in which Respondent has or had a controlling interest;
4. The advisers, agents, affiliates, nominees, assigns, creditors, heirs, distributees, spouses, parents, children, or controlled entities of any Excluded Party; and/or
5. Petrobras’s directors’ and officers’ liability insurance carriers, and any affiliates or subsidiaries thereof.

Approximately $85,320,000.

If you previously submitted a Claim in connection with the Class Action and such Claim was approved (a “Class Action Authorized Claimant”), you are automatically deemed a Claimant, but only with respect to the transactions that were approved in the Class Action (the “Approved Transactions”). You do not need to submit another Proof of Claim to participate in the Fair Fund, unless you wish to amend your claim to include additional transactions or to provide new information or documents to cure any deficiencies determined in the Class Action that were not cured.

If you submitted a Claim in connection with the Class Action and such claim was determined to be deficient and you failed to cure such deficiencies (a “Class Action Deficient Claimant”), under the terms of the Distribution Plan for the Petrobras Fair Fund (the “Plan”), you are deemed a Class Action Deficient Claimant only with respect to the transactions that were deficient in the Class Actions (the “Deficient Transactions”). You do not need to submit another Proof of Claim Form to participate in the Fair Fund as to your Deficient Transactions, unless you wish to amend your claim. You must, however, provide the required information and/or documentation to cure the deficiencies identified in connection with your Class Action claim in order to be eligible to receive a distribution from the Fair Fund for those Deficient Transactions.

The deadline to submit a Proof of Claim form was February 28, 2022.

The Commission issued an order appointing Epiq Systems, Inc. as the Fund Administrator.

If you purchased or otherwise acquired Petrobras common American Depository Shares (ADS) and/or preferred ADS (“Eligible Securities”) during the period from March 1, 2010, through April 22, 2015, inclusive, you may be an Eligible Claimant in this action as explained in the definition of Eligible Claimants contained in the Plan of Distribution available here.

Payments were made to eligible claimants on September 29, 2023. In addition, in order for a claim to be paid, it must equal or exceed the Distribution De Minimis Amount of $10.00.

For additional information as to how your claim was calculated, please view the Plan of Allocation, which is included as Exhibit B of the Fair Fund Plan of Distribution. It can be downloaded here.

Additional information regarding the Fair Fund can be found on this website. You can obtain additional information or request copies of forms and notices by calling the Fair Fund's toll-free hotline at 1-800-665‑0329 in the United States, or by email at Questions@PetrobrasFairFund.com.