Petroleo Brasileiro Petrobras : Clarification on News: Preliminary Injunction Suspends Sale of Gaspetro

Rio de Janeiro, January 28, 2016 - Petróleo Brasileiro S.A. - Petrobras hereby responds to Official Letter 250/2016-SAE which requests the following clarifications:

OFFICIAL LETTER 250/2016-SAE

'Dear Sirs,
A news item published by the newspaper Valor Econômico on January 27, 2016, states, among other matters, that the Federal Court of Bahia has issued a preliminary injunction suspending Petrobras' sale of 49% of Gaspetro to the Japanese company Mitsui for R$1.9 billion.

We did not identify this information in the documents sent by this company via the Empresas.NET System. If we are mistaken, please indicate the document and the pages containing the information in question and the date and time when they were sent.

We therefore request that you provide us with clarification on the above item by 9:00 a.m. on January 28, 2016, confirming its veracity or not, together with any other information deemed important

This request falls within the scope of the Cooperation Agreement entered into between the Brazilian Securities and Exchange Commission (CVM) and the Securities, Commodities and Futures Exchange (BM&FBOVESPA) on December 13, 2011, and non-compliance may subject this company to a punitive fine by the CVM's Corporate Relations Department (SEP), pursuant to CVM Instruction 452/07.

Clarification

The Regional Federal Appellate Court of the 1st region of the judicial district of Paulo Afonso, in the state of Bahia, as the result of a citizen's suit, has issued a preliminary injunction calling for, among other matters, the immediate suspension of the transaction involving the acquisition of 49% of Petrobras Gás S.A. (Gaspetro) by Mitsui Gás e Energia do Brasil (Mitsui-Gás).

Until now, Petrobras has not been officially notified of this decision. Furthermore, as announced on December 28, 2015, Petrobras concluded this sale operation within strict legal parameters and obtained all the necessary approvals, including that of CADE, Brazil's antitrust authority.

It is also worth noting that, as disclosed to the market on October 23, 2015, on December 10. 2015 occurred the partial spin-off of Petrobras Gás S.A. (Gaspetro), which became a holding company consolidating, exclusively, Petrobras' interests in natural gas distributors, with the creation of a new wholly-owned Petrobras subsidiary (Petrobras Logística de Gás S.A.), which retained those remaining interests not related to the natural gas distribution business separated from Gaspetro.