Petroleo Brasileiro Sa · BMFBOVESPA:PETR3
Petroleo Brasileiro Sa — Petrobras - Petroleo Brasileiro — Corporate Update (June 2015)
19 slides from Petroleo Brasileiro Sa's corporate update, Jun 30, 2015
Slide 1: Business and Management Plan
Business and Management Plan Press Conference June 29*, 2015
Slide 2: Forward-looking statements and non-SEC compliant reserves cautionary statement
The presentation may contain forward-looking statements about future events within themeaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are not based on historical facts and are not assurances of future results.
Slide 3: 2015-2019 Business and Management Plan Targets
2015-2019 Business and Management Plan Targets dd PETROBRAS DELEVERAGE Capital discipline Strengthening of performance management GENERATE VALUE FOR SHAREHOLDERS Focus on profitability
Slide 4: Deleverage Targets
Deleverage Targets dd PETROBRAS = Net Leverage below 40% By 2018 Net Debt / EBITDA below 3.0x = Net Leverage below 35% By 2020 Net Debt / EBITDA below 2.5x
Slide 5: Financial Planning Assumptions
Financial Planning Assumptions [dj PETROBRAS Oil Product Prices in Brazil Import parity Brent Prices USS 60/bbl in 2015 (Average) USS 70/bbl in the 2016-2019 period Nominal Badhemap tie 2015 2016 2017-2019 +S 2020 (Average) 3.10 3.26 3,29 356 RS/USS
Slide 6: Divestments and Restructurings
Divestments and Restructurings dd PETROBRAS Divestments revised to USS 15.1 billion from USS 13.7 billion 2015-2016 USS 42.6 billion as follows: = Businesses restructurings 2017-2018 = Demobilization of assets = Additional divestments
Slide 7: Investments
Investments [BR] PETROBRAS Selectivity of projects in the portfolio Prioritization of oil production projects in Brazil, focusing on the pre-salt Downstream, G&P ean @aien/ers Maintenance of Operations
Slide 8: Investments: Comparison between portfolios 2014-2018 BMP x 2015-2019 BMP
Investments Comparison between portfolios: 2014-2018 BMP x 2015-2019 BMP = Ld] PETROBRAS USS Billion 2014-2018BMP Year 2014" FXandinflation Excluded NewProjects Delays and _Rebudgeting/ CAPEX Reduction Year 2019 2015-2019 BMP Update Projects Postponements Change of Scope __ due to Restructuring/ Div
Slide 9: Exploration & Production Investments
Exploration & Production Investments [lj PETROBRAS E&P USS 108.6 Billion Production Development 1) Operational Support Hl Exploration {Investments Abroad
Slide 10: Downstream Investments
Downstream Investments (dj PETROBRAS Downstream USS 12.8 Billion 1) Maintenance and Infrastructure (i Abreu e Lima Refinery Wl others {0 Distribution (BR Distribuidora) Note: Total amount includes investments in Comper} to receive and treat natural gas, maintenance of equipment, among others. u
Slide 11: Gas & Power Investments
Gas & Power Investments Lj PETROBRAS G&P USS 6.3 Billion Hil Electricity ) Gas Chemical Units [i Pipelines unc
Slide 12: Oil and NGL Production in Brazil
Oil and NGL Production in Brazil [dij PETROBRAS Comparison with 2014-2018 BMP Million bpd 2019 2020 2016 2017 2018 2014 2015 —O=2015-2019BMP_ = =O = 2014-2018 BMP
Slide 13: Production Units Start-up Schedule
Production Units Start-up Schedule (dj PETROBRAS = ___. Million bpd 2.8 -O-0il and NGL Total Production =©=Production from Operating Units + Ramp-up + Complementary 14 2014 2015 2020
Slide 14: Oil, NGL and Natural Gas Production in Brazil and Abroad
Oil, NGL and Natural Gas Production in Brazil and Abroad Lj PETROBRAS Comparison with 2014-2018 BMP Million boed -°? 2014 2015 2016 2017 2018 2019 2020 —O—2015-2019BMP_ =O = 2014-2018 BMP.
Slide 15: Oil Products Demand
Oil Products Demand [ PETROBRAS _ © 2,851 2,596 2,627 2,141 608 573 587 402 2010 2014 2015 2020 1 Diesel I Gasoline 1 Others
Slide 16: Manageable Operating Costs
Manageable Operating Costs dd PETROBRAS Total costs and expenses, excluding costs related to basic materials 2015-2019 BMP USS 142 Billion Measures for productivity gains = Efficiency in the management of contracted services = Rationalization of structures and reorganization of businesses = Optimiza
Slide 17: Deleverage Projection
Deleverage Projection [dij PETROBRAS Including productivity gains and divestments/restructurings in 2017 and 2018 60% 50 50% 50.8% 40 40% aad = NL 20 2.03 30% 322% 10 20% 00 2015 2016 2017 2018 2019 2020 2015 2016 2017 2018 2019 2020
Slide 18: 2015-2019 BMP Challenges
2015-2019 BMP Challenges [ary PETROBRAS Risk factors that may impact the Plan Changes in market variables, such as oil prices and foreign exchange rates Divestments and other restructurings of our businesses, subject to prevailing market conditions when such transactions occur Achievement of product
Slide 19: Signature
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: June 29, 2015 PETRÓLEO BRASILEIRO S.A--PETROBRAS By: / S / Ivan de Souza Monteiro Ivan de Souza Mo
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