Rio de Janeiro, February 26, 2016 – Petróleo Brasileiro S.A. – hereby responds to Official Letter 62/2016-CVM/SEP/GEA-1 which requests the following clarifications:

Official Letter 62/2016-CVM/SEP/GEA-1

“Dear Officer,

We refer to the clarifications provided in the Notice to the Market of February 18, 2016 disclosed in response to the requests in Official Letter 049/2016/CVM/SEP/GEA-1, related to questions concerning the news item published in the February 16, 2016 edition of the newspaper Valor Econômico, entitled Venina vai depor nos EUA contra Petrobras (Venina will testify against Petrobras in the USA),

Despite the affirmation that the reports drawn up by the Internal Investigation Commissions, installed to examine the procedures involved in the contracting of certain works and services, were conducted in accordance with the norms and procedures of the company and which were sent to the competent authorities so that the pertinent measures could be taken, we hereby request that:

– You confirm the veracity of the affirmation that part of the testimony of Manager Gerente Geovane de Morais was excluded from the final version of the report concerning Venina Fonseca’s accusations; and

– If so, that you justify said exclusion, in the light of said norms and procedures.”

Clarification

Petrobras hereby declares that the Company’s norms and procedures for the installation of Internal Investigation Commissions (IIC) do not envisage the recording of the witnesses’ testimony. Said testimony is registered in the form of a Term of Declaration, which involves the evaluation of which information is relevant to achieving the object of the investigation. The Term of Declaration of the witness Geovane de Morais in the specific case of the IIC in question, was read and signed by the employee and the Commission members with no reservations and attached in its entirety to the IIC’s final report.

In addition, said final report was supervised and approved by the then Executive Refining, Transportation and Marketing Manager, Venina Velosa, and by members indicated by her, none of whom reported any irregularity in the conducting of the investigations.

The Company hereby reaffirms that, because of this investigation, the former manager Geovane de Morais was dismissed with due cause and the result of the examinations by this commission was sent to the competent authorities at the time of the facts.