OSX Brasil S.A. – In Judicial Reorganization ("OSX" or “Company”) (BM&FBovespa: OSXB3), a Brazilian publicly held corporation which provides equipment and services to the offshore oil and natural gas industry, with integrated operations in shipbuilding, leasing of exploration and production (E&P) units and operation and maintenance services (O&M) hereby announces, regarding the agreement signed between its subsidiaries OSX 1 Leasing B.V. (“OSX 1L”) and OSX Serviços Operacionais Ltda. – In Judicial Reorganization, Óleo e Gás Participações S.A. – In Judicial Reorganization (“OGpar”) and its subsidiary OGX Petróleo e Gás S.A. – In Judicial Reorganization, disclosed on February 03, 2014, that the testing period using the FPSO OSX-1 platform in the Tubarão Azul field will proceed until September 17, 2014.

The production resumption in the Tubarão Azul field is also subject to certain precedent conditions, among which the establishment of operational and financial conditions among all the parties involved.