Rio de Janeiro, August 14, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby announces that it has decided to include tax debits in the Special Installment Program – REFIS, instituted by Law 12996/2014 and regulated by Joint Ordinance PGFN/RFB 1064/15 and Regulatory Instruction RFB 1576/15, published on August 3, 2015.

Since the publication of the above-mentioned regulatory instruments, Petrobras has been reassessing its federal tax litigation in order to identify eventual proceedings that can be included in the REFIS.

These debits refer to the non-collection of Withholding Income Tax (IRRF) on remittances to the subsidiary Petrobras International Finance Company (PIFCO) in payment for the importation of oil and oil products between 1999 and 2002, 2004, 2005 and from 2007 to 2012.

The inclusion of these debits, whose updated amount is R$6.0 billion, in the REFIS, will save the Company 50% by reducing the liability to R$3.0 billion, R$876 million of which will be settled with tax loss carryforwards.

The total disbursement will therefore be R$2.1 billion, R$1.26 billion of which from the conversion of the court deposit to be paid definitively and the remainder to be paid in installments, with disbursement of R$536 million in 2015 and R$ 333 million between 2016 and 2017.

The negative impact on the Company’s results for the third quarter of 2015 will be R$2.0 billion, net of taxes.

The decision to adhere to the program was based on the potential financial benefits and on an analysis of risk based on possible unfavorable decisions in both the legal and administrative spheres. At the reporting date of the 2Q2015 financial statements, this analysis was not complete, which only occurred on August 13, 2015.

In addition, taking the issue to the judicial sphere would require the constitution of guarantees, as well as a substantial increase in the amount of the debt over time due to interest and additional financial charges and the risk of the cancellation of the Federal Tax Clearance Certificate (CPEN), which would result in significant losses for the Company.

As the term for including notified tax debits expires in September 2015, the Company is continuing to reanalyze the litigation to identify other debits that can be settled through the Program.