Rio de Janeiro, December 16, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 3762/2015-SAE, which requests the following clarifications:

Official Letter 3762/2015-SAE

“Dear Sirs,

A news item published today in the newspaper Valor Econômico on December 16, 2015, states, among other matters, that, for the first time in eight years, Petrobras will record free cash flow this final quarter.

We have not identified this information among the documents the company delivered through the Empresas.NET System. Should this information have already been provided, please inform us in which document and on which pages it can be found, as well as the date on which they were delivered.

It is worth emphasizing that the company must disclose periodic, eventual and other information of interest to the market through the Empresas.NET System, thereby ensuring its ample and immediate dissemination and the equitable treatment of its investors and other market participants.

We therefore request that you provide us with clarifications regarding said news item by 9:00 a.m. on December 17, 2015, with your confirmation or not, together with any other information deemed relevant.”

Clarification

Petrobras recorded positive free cash flow in the third quarter of 2015, as well as in the first nine months of the year. Regarding the first nine months of the year, this was the first time in the last eight years. Free cash flow is the difference between operating cash flow and investments.

This information appears on the financial statements for the third quarter 2015, and on the quarter results webcast presentation.