Rio de Janeiro, March 22, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 780/2016-SAE, which requests the following clarifications:

Official Letter 780/2016-SAE

“Dear Officer,

In an article published by Agência Estado – Broadcast newspaper, in 03.22.2016, states, among other information, that:

1. Petrobras plans to end the year 2016 with a R$ 21 billion cash balance;

2. Therefore, it foresees a new funding in the amount of US$ 1 billion.

We have not identified that information in the documents submitted by this company, through
Empresas.NET system. Otherwise, please provide the document and the pages containing the information and the date and time in which they were sent.

It is noteworthy that the company should disclose periodic information and other possible information of interest to the market through the Empresas.NET system, ensuring its widespread and immediate dissemination and equitable treatment of investors and other participants from the market.

We therefore request that you provide us with clarification on the above item by 9:00 a.m. on March 23, 2016, without prejudice to the sole paragraph of article 6 of CVM Instruction 358/02, confirming its veracity or not, together with any other information deemed important.”

Clarification

Petrobras presented today, in Conference Call with analysts and investors, a cash flow estimate for the year 2016. In this flow, it is included the funding of US$ 1 billion, which has been already taken and disclosed to the market in March 8, 2016.

The exercise for the cash flow points to a surplus of US$ 21 billion at the year-end, as shown below:

This document is available for consultation on the Company’s website (www.petrobras.com.br/ri) and it was also released through Empresas.NET system, from Securities and Exchange Commission (CVM).