NOTICE TO THE MARKET

BANCO BTG PACTUAL S.A. («BTG Pactual»), in line with the notice disclosed by Petróleo Brasileiro S.A. – Petrobras («Petrobras») on this date, hereby announces to its shareholders and to the market in general that it has started, together with Petrobras, the disclosure stage of the opportunity concerning the divestment process of 100% of its indirect interest in Petrobras Oil & Gas B.V. («POGBV»), a joint venture wholly owned by Petrobras (50%) and by BTG Pactual E&P B.V. (50%), an investment vehicle created by BTG Pactual, its clients (who have invested through an investment vehicle managed and administered by BTG Pactual) and Helios Investment Partners.

BTG Pactual will keep its shareholders and the market duly informed on the potential transaction.

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São Paulo, November 07, 2017.

BANCO BTG PACTUAL S.A.
João Marcello Dantas Leite
Investor Relations Officer