BOVESPA Chairman of the Board to Become CEO of Petrobras

Brazil’s largest exchange, BM&FBOVESPA, announced today that its Chairman of the Board of Directors, Mr. Pedro Pullen Parente, has accepted an invitation to become Chief Executive Officer of Petrobras. The position is still subject to the approval of the Board of Directors of Petróleo Brasileiro S.A. Petrobras.

The announcement reiterates that Parente's ew position is not going to affect his duties at BOVESPA. With the lack of inherent conflicts of interest between the corporate governance bodies of both companies, his tenure as Chairman of the Board of BM&FBOVESPA will continue as is.

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Parente has previously held roles as head of the Civil House of the Presidency of the Republic, Minister of Planning, Budget and Management and executive secretary of the Ministry of Finance.

BM&FBOVESPA ranks as the 13th largest Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term in the world and is the result of a merger between the São Paulo Stock Exchange (Bovespa) and the Brazilian Mercantile and Futures Exchange (BM&F) in May 2008, creating BM&FBOVESPA.

The exchange manages the organized Securities and Derivatives markets, providing registration, clearing and settlement services. It acts as central counterparty, guaranteeing financial Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term for the trades executed in its environments.