Clarification on News: Announcement of Sale of Assets

Rio de Janeiro, May 04, 2016 - Petróleo Brasileiro S.A. - Petrobras hereby answers to the Official Letter No. 193/2016/CVM/SEP/GEA-1, which requests the following clarifications:

Official Letter No. 193/2016-CVM/SEP/GEA-1

'Mr. Director,

We refer to the news item published today in the blog Radar Online, of Revista Veja, under the title: 'Pretrobras waits the release of its balance to announce the sale of assets', which contained the following statements:

Petrobras has four business in its divestment plan ready to be announced, but will only do so after May 12, when the company's results for the first quarter will be out.

The sale of Petrobras' operations in Argentina, estimated at R$1.5 billion, is among the sales of assets to be announced.

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

Petrobras confirms the conclusion of the negotiations of the key terms and conditions for the sale of Petrobras Argentina and Petrobras Chile Distribución, as announced yesterday through press releases.

However, it should be noted that the conclusion of these transactions is still subject to the deliberation and approval of its final terms and conditions by the Executive Board and the Board of Directors of Petrobras, as well as by the relevant regulatory agencies.

The other transactions ongoing under the Divestments Program will be announced as they are completed and approved, there being no connection between the date in which the quarterly results will be released and the date in which this transactions will be announced.