Rio de Janeiro, March 31, 2015 - Petróleo Brasileiro S.A. - Petrobras complies with Official Letter BM&FBovespa 0842/2015-SAE, which requests the following clarification:

OFFICIAL LETTER 0842/2015-SAE

'We request immediate clarification by March 31, 2015 at 9 a.m. regarding the content of news released by Agência Estado - Broadcast on March 30, 2015, which contains, among other information, that:

i) As soon as Petrobras publishes its balance sheet containing the values of the corruption, it plans to seek damages from the contractors involved in the Brazilian Federal Police's Operation Lava Jato;

ii) A working group, consisting of Petrobras and the Office of the General Counsel for the Federal Government (AGU), is evaluating a plan of restitution.'

Clarification

As informed to the market on March 27th, Petrobras states that it is taking all the necessary steps with the Brazilian authorities to recover damages suffered by the unlawful acts uncovered by the Lava Jato Operation, including those to its image.

Brazilian legislation permits many ways to seek restitution, which include leniency agreements entered into by suppliers and the legal proceedings filed by the authorities (actions against misconduct in public office), which may lead to a judgment against the defendants for the payment of moral, material damages and fines.

The Company has cooperated with the Brazilian authorities to contribute to the progress of the investigation procedures, including the Brazilian Federal Police, the Federal Prosecutor Service, the Judiciary system, the Federal Government Court of Auditors (TCU) and the Government Accountability Office (CGU).

However, there is not a specific work being conducted with the Office of the General Counsel for the Federal Government (AGU) regarding this matter.

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