In addition to the press release issued earlier today, Petrobras provides the following:

Petrobras decided to disclose the “accounting information related to the third quarter of 2014 not yet reviewed by the external auditors” in order to keep the market minimally informed, respecting the principle of transparency. The company is seeking to obtain by December 12, 2014 more details about the investigations being carried out by the independent law firms and external inspection and control authorities, enabling any adjustments to the financial statements arising from the allegations and investigations related to the “Operação Lava Jato” money-laundering probe to be properly made.

In addition, many of the company’s financial contracts contain a covenant determining that the quarterly financial statements, whether audited or not, must be submitted to the funding agents within 90 (ninety) days after the end of the quarter, permitting Petrobras to submit the financial statements for the third quarter by December 30, 2014. Accordingly, under these contractual terms, Petrobras may present the financial statements up until this date.

With regard to the estimated timeframe for disclosing the September 30, 2014 Quarterly Information Form (a form that must be submitted to the Brazilian Securities and Exchange Commission, CVM), accompanied by the special review report issued by the external auditors, because of the investigations under way it has not yet been possible to determine a date for disclosing this accounting information. Furthermore, the establishment of the date for disclosing these financial statements accompanied by the external auditors’ review report will depend on assessments made by the auditors themselves. Once they have determined this, the company will inform the market with minimum advance notice of 15 (fifteen) days before the date of disclosure.

Finally, the credit ratings agencies will be informed of the reasons why the company did not disclose the reviewed financial statements for the third quarter within the legal period, as well as the steps being taken by the company.