Rio de Janeiro, February 26, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby announces that its Board of Directors, in a meeting held today, approved the extension of the term of office of board member Luiz Nelson Guedes de Carvalho as Chairman of the Board of Directors until the next Annual Shareholders’ Meeting.

As previously disclosed, Luiz Nelson Carvalho Guedes was serving as chairman of the Board since September 14, 2015.