Rio de Janeiro, June 17, 2016 – Petróleo Brasileiro S.A. – Petrobras complies with Official Letter 266/2016-CVM/SEP/GEA-1 which requests clarifications as transcribed below:

Official Letter 266/2016-CVM/SEP/GEA-1

“Dear Executive Officer,

“We refer to the news item published today on the O Globo newspaper, Economy Section, under the title: “Petrobras is about to sell a gas pipeline to Brookfield for US$5 billion”, including the following statements:

The market expects Petrobras to conclude, by mid-July, according to the market expectations, the sale of 81% of the subsidiary Nova Transportadora do Sudeste (NTS) — responsible for the region’s gas pipeline — to the Canadian company, Brookfield, one of the world’s largest independent asset management firms. According to sources familiar with the matter, the transaction will total between US$4.5 billion and US$5 billion.

In view of the above, we determine that you clarify whether the news item is true, and, if confirmed its veracity, the Company should explain the reasons why the information was not disclosed through a material fact and comment other information deemed relevant on the topic.”

Clarification

As disclosed on May 12, 2016, through a material fact, Petrobras’ Executive Board approved carrying out the negotiations with Brookfield for the sale of Nova Transportadora do Sudeste (NTS) on an exclusive basis for 60 days, which may be extended for another 30 days.

It is worth noting that the negotiations related to this divestment are still in progress, including the terms, conditions and amounts, which can only be disclosed if the negotiation is completed.

Facts deemed relevant on this topic will be timely communicated to the market.