Davis Polk advised the respective agents of the Brazilian underwriters in connection with the follow-on offering by Petróleo Brasileiro S.A. — Petrobras of 393,187,500 common shares of BR Distribuidora S.A. (including the full exercise of the Brazilian underwriters’ over-allotment option) for an aggregate amount of R$9.6 billion (approximately $2.5 billion). The common shares trade on the B3 S.A. – Brasil, Bolsa, Balcão (São Paulo Stock Exchange). Common shares sold in the international offering were placed under Rule 144A and Regulation S.

Headquartered in Rio de Janeiro, Brazil, BR is the largest fuel and lubricant supplier in Brazil in terms of volume of sales and an associate of Petrobras, the largest oil company in Brazil and its largest shareholder.

The Davis Polk corporate team included Maurice Blanco and Elliot M. de Carvalho. The tax team included Michael Mollerus, Dao Fu and Tomislava Dragicevic. Members of the Davis Polk team are based in the São Paulo and New York offices.

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