Investor Presentaiton

BLOCKS AWARDED IN THE 11th ANP BIDDING ROUND 9queiroz galvão EXPLORAÇÃO E PRODUÇÃO ▸ 8 Blocks acquired in 11th ANP Bidding Round: total area of 5,785 km² ▸ Operatorship in 5 of the 8 blocks ▸ 5 new partnerships including: Statoil, Total, Premier Oil, Pacific Rubiales and Petra Energia Basin Block Other Consortium Members QGEP Operator Working Interest Foz do Amazonas FZA-M-90 Premier Oil Pacific Brasil QGEP 35% Espírito Santo ES-M-598 Statoil Brasil Petrobras Statoil 20% US$39 Espírito Santo Pará- Maranhão Pará- Maranhão ES-M-673 Statoil Brasil Petrobras Statoil 20% PAMA-M-265 Pacific Brasil QGEP 30% PAMA-M-337 Pacific Brasil QGEP 50% ▸ Total of R$94.9 million in signature bonuses ▸ Ongoing acquisition of seismic data ~ million net to QGEP for the next two years ▸ Four exploratory wells committed to begin in 2017 ~ US$200 million net to QGEP Total Ceará CE-M-661 Total 25% OGX Pernambuco -Paraíba Pernambuco -Paraíba PEPB-M-894 Petra Energia QGEP 30% PEPB-M-896 Petra Energia QGEP 30% INVESTOR PRESENTATION P. 19

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