Rio de Janeiro, May 12, 2016 – Petróleo Brasileiro S.A. – Petrobras, giving continuity to the notice published on February 26, 2016 regarding the process of sale of Nova Transportadora do Sudeste (NTS), announces that the Company’s Executive Board approved carrying out the negotiations with Brookfield on an exclusive basis for 60 days, which may be extended for another 30 days.

This transaction is still subject to the approval of its final terms and conditions by the Executive Board and by the Board of Directors of Petrobras, as well as by the relevant regulatory agencies.

Facts deemed relevant on the subject will be timely announced to the market.