Investor Presentaiton

CAPEX 2013-2015 9queiroz galvão EXPLORAÇÃO E PRODUÇÃO Capex needs of US$ 352 million for 2015 and 2016 are fully funded BS-4 Development and BM-S-8 Exploration will absorb 30% and 35% of the investment, respectively CAPEX net to QGEP (US$ million) 187 11 165 10 93 62 112 42 21 1 2015 2016 ■Production ■Development Exploration ■ Other INVESTOR PRESENTATION CAPEX net to QGEP (US$ million) 187 11 1222 165 9 10 27 33 12 55 62 42 21 2015 ■Manati ■BM-S-8 ■CAL-M-372 ■ Other 67 41 1 2016 BS-4 Development Blocks Round 11 ■BM-J-2 P. 23

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