INVESTOR ALERT: Glancy Binkow & Goldberg LLP Announces An Expanded Class Period in the Shareholder Lawsuit Against Petróleo Brasileiro S.A. ? Petrobras

Glancy Binkow & Goldberg LLP, representing investors of Petróleo Brasileiro S.A. − Petrobras (“Petrobras” or the “Company”) (NYSE:PBR), has filed a class action complaint in the United States District Court for the Southern District of New York with an expanded Class Period, including purchasers of Petrobras American Depositary Shares between January 7, 2010 and November 26, 2014, inclusive (the “Class Period”).

Petrobras operates as an integrated oil and gas company engaged in the exploration, development, production and sale of crude oil, natural gas liquids and natural gas in Brazil and internationally. The Complaint alleges that defendants misrepresented or failed to disclose that: (1) the Company was overpricing certain contracts related to its refineries and operations, and accepting kickbacks from some companies approved for those contracts; (2) as a result, the Company was overcharging its property, plant and equipment assets on its balance sheet; (3) the Company’s directors and employees accepted bribes from third-party contractors to win contracts with Petrobras; (4) the Company’s internal controls were inadequate; and (5), as a result of the foregoing, the Company’s statements were materially false and misleading and/or lacked a reasonable basis.

If you purchased Petrobras American Depositary Shares between January 7, 2010 and November 26, 2014, you may move the Court no later than February 6, 2015, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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