Rio de Janeiro, August 7, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with the Official Letter n.º 305/2015/CVM/SEP/GEA-1, which requests clarifications, as follows:

Official Letter n.º 305/2015/CVM/SEP/GEA-1

“We refer to the news article published on this date in the O Estado de São Paulo newspaper, Economy & Business, section entitled: “Petrobras initiates planning for the next 15 years”, including the following statements amongst other issues:

The objective is to update the 2030 Strategic Planning launched in March last year, which was based on price and investment assumptions very different from current ones. Amongst other issues, Petrobras estimated to reach an average oil production in Brazil and abroad of four million barrels/day between 2020 and 2030.

In such new plan, the Company already adjusted this projection to a production of 2.8 million barrels/day.

Amongst the strategies outlined from oil production previous growth estimate, the Company pointed out the expansion of refining capacity in Brazil, which should reach 3.9 million barrels of oil/day until 2030.

In view of the aforementioned, we request you to clarify if this news article is accurate and if positive, you shall justify the reasons for you to understand this is not a material fact.”

Clarification

The assumptions and variables applied by the 2030 Strategic Plan, released on March 6, 2014, need to be revised, taking into account the new macroeconomic conditions and the market of oil and gas.

The revision of the Strategic Plan is a usual process at any company, however, as the Petrobras Plan review is at an early stage, it is still not possible to quantify the new premises and goals.

After concluding the analyses, which will be under the guidance of Senior Management in constant interaction with the operational and support areas of the Company, the Strategic Plan will be submitted by the Executive Directors for approval of the Board of Directors.

Thus, the Company declares that the figures published by said news article are part of 2015-2019 Business and Management Plan, released on June 29, 2015 and, therefore, does not represent new data.