Rio de Janeiro, May 20, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby answers to the Official Letter No. 222/2016/CVM/SEP/GEA-1, which requests the following clarifications:

Official Letter No. 222/2016-CVM/SEP/GEA-1

“Mr. Director,

We refer to the news item published today in the newspaper Estadão Online, News section, under the title: “To make the change in Petrobras easier, Bendine may resign”, which contained the following statements:

The CEO of Petrobras, Aldemir Bendine, may resign his positions if the intention of Michel Temer’s government, of replacing the leadership of the state-owned company, is confirmed. According to a source close to the Board, it would be an act of goodwill gesture coming from Bendine, in order to make it easier and expedite the replacement of the leadership. Bendine’s intention always was to make himself available to follow-up the transition of a potential new CEO for the company, but the procedures are complex in Petrobras and the resignation is starting to be evaluated as a more peaceful way.

In view of the above, we request that you clarify whether the information in question is true, and if so, why it was not disclosed through a Material Fact, as well as comment on other information deemed relevant to the issue.”

Clarification

Regarding the possible resignation of the CEO Aldemir Bendine due to the appointment, by the controlling shareholder, of the engineer Pedro Parente to join the Board of Directors and the position of Petrobras’s CEO, the Company informs that it has not received, until now, any mail on of its current CEO about resignation, pursuant to art. 151 of Law 6,404/76.

Petrobras also informs it is evaluating, together with the President-in-Office, all corporate governance procedures, compliance and integrity necessary for the succession process, as the new bylaws approved by the General Meeting on April 28, 2016.

The Company reiterates that the appointment of the new CEO by the controlling shareholder will be analyzed by the Board of Directors at an extraordinary meeting convened for next Monday.