Clarification on News Item: Pharmacy Benefits

Rio de Janeiro, June 28, 2016 - Petróleo Brasileiro S.A. - Petrobras hereby responds to Official Letter 282/2016-CVM/SEP/GEA-1, which requests clarifications as transcribed below:

Official Letter 282/2016-CVM/SEP/GEA-1

'Dear Officer,

We refer to the news item published today in the O Globo newspaper in the O País (Country) section under the title: Compra de remédios é nova fonte de fraudes na Petrobras (Purchase of medicines is the new source of fraud at Petrobras), which includes the following statements:

A Petrobras program for the purchase of medicines has become another source of fraud at the state-owned company. A TV story broadcast by Globo's Fantástico program showed that the illegal use of this benefit caused monthly losses of R$6 million, corresponding to to one third of the program's total spending.

Clarification

Petrobras hereby declares that since July 2015 it has been investigating irregularities in the provision of pharmacy benefits, established in 2006 and expanded by the 2013 collective bargaining agreement.

The Company began investigations after reports received by its reporting channels. Investigations include gathering documents and taking statements from those involved and so far six people have been implicated, including Company employees.

The pharmacy benefit contract was canceled in September 2015 after fines were imposed on the Company Global Saúde, that provided this service, as a result of recurring non-compliance with contractual clauses.

As for the monthly loss reported R$ 6 million, Petrobras does not validate this information as the process of assessment of these impacts is underway.

Based on these conclusions, Petrobras will take the applicable measures to hold those involved liable and to ensure the compensation of any losses caused to the Company; it will also submit the material to the applicable authorities.