Rio de Janeiro, August 18, 2015 – Petróleo Brasileiro S.A. – Petrobras complies with the Official Letter No. 314/2015/CVM/SEP/GEA-1 requesting the following clarification:

Official Letter No. 314/2015/CVM/SEP/GEA-1

“We refer to the news published this date in the Finance Section of the Valor Econômico newspaper, under the heading “Highlights”, which presents, among other matters, the following statements:

Petrobras plans to enter in the coming days a request for funding of at least R$3 billion in debentures. The company expects to close the transaction by the end of September, as explained to Valor by a source with information on the situation. The offering will be divided into five series, with maturity dates and rates aimed at different stakeholders. Two of the series will be infrastructure debentures, with income tax exemption for individuals and foreigners.

Given the above news, we request your clarification on the veracity of the news and, if confirmed, a further statement on the reason whereby the Company did not consider it as a Material Fact.”

Clarification

As disclosed to the market on May 15, 2015, Petrobras’ Board of Directors approved the issuance of up to 300,000 (three hundred thousand) simple debentures, not convertible into shares, unsecured, with par value of R$10,000.00 (ten thousand reais), which correspond to up to R$3,000,000,000.00 (three billion reais).

This amount may be increased by an additional series equivalent to up to 20% (twenty percent) of the total number of debentures initially offered and/or an additional series equivalent to up to 15% (fifteen percent) of the total number of debentures initially offered, in accordance with applicable regulations.

If the operation is performed, all relevant information will be disclosed in a timely manner, as legally required.