Rio de Janeiro, June 14, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 260/2016-CVM/SEP/GEA-1, which requests the following clarifications:

Official Letter 260/2016-CVM/SEP/GEA-1

“Dear Officer,

We refer to the news item published on this date in the Primeiro Lugar (First Place) column of Exame magazine, entitled O consórcio da Brookfield (Brookfield Consortium), which contains the following affirmations:

The Canadian group Brookfield, whose CEO in Brazil is Luiz Simões Lopes, is setting up a consortium of Investors to acquire Tag, a Petrobras’ subsidiary which controls its gas pipeline network. The sovereign wealth funds GIC (Singapore) and CIC (China), as well as the U.S. energy fund, First Reserve, are part of the consortium. The partners will help Brookfield share the necessary amount to acquire control of Tag, whose worth is estimated at around US$5 billion.

Given the above, we request that you confirm if the information contained in said news item is in fact true and, if so, why it was not deemed to constitute a material fact, together with any other information deemed important.”

Clarification

As disclosed in the material fact of May 12, 2016, Petrobras’ Executive Board approved exclusive negotiations with Brookfield for the sale of Nova Transportadora do Sudeste (NTS) for a period of 60 days, possibly extended for a further 30 days.

It is worth noting that the negotiations regarding this divestment are still ongoing, including the composition of the consortium, terms, conditions and the amounts involved.

Facts deemed material regarding this matter will be promptly disclosed to the market.