Petrobras' Energy Sector Outlook

11 Wärtää December 2012 1000 1271 2000 1 336 3 000 1 500 4 000 1540 5 000 1 493 kboe/day CORPORATION Petrobras' domestic oil production forecasts (OGX could offer upside) 1 684 0 T 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 * Actual 2012-2016 BP 1778 1792 1 855 1971 T The new Petrobras President's initiative of realistic targets 2004 2022 2022 2011 2012 2013 2014 * 2010 BR strategy 2 022 2181 Petrobras' oil reserves (Sep-2012) • Proven Reserves: 15.7 bn boe • Potential Recoverable Volumes: 15.8 bn boe • Of which roughly 90% is offshore vs. the world average of 18% • Growth in the oil & gas market driven by pre-salt development Petrobras' 2012-2016 business plan •Domestic exploration & production spending totals USD 131.6 billion Of which USD 25.4 billion (19%) is earmarked for exploration Petrobras has been known for not reaching its production targets and its projects being delayed. To change this, they introduced a new project management structure which should give more reliability to their targets. WARTSILA * Business plan Source: Petrobras investor presentation Sep-2012, 2010 WBR strategy for old production forecast 2 341 2015 2016 2017 2011-2015 BP 2500 2925 2018 2019 3 350 2020 3 775 4 200

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