The summary includes: 1. Petrobras' planned investments of US$174.4 billion from 2009-2013, with over 40% allocated to exploration and production. 2. Goals to increase domestic oil and gas production significantly by 2013 and 2020 through development of pre-salt reservoirs and international operations. 3. Plans to substantially increase local content in equipment and services from 57% in 2003 to 75% by emphasizing development of Brazilian suppliers.

1. José Sergio Gabrielli de Azevedo
Petrobras CEO
1
March 8th, 2010

2. DISCLAIMER
The presentation may contain forecasts about future CAUTIONARY STATEMENT FOR
events. Such forecasts merely reflect the US INVESTORS
expectations of the Company's management. Such
terms as "anticipate", "believe", "expect", "forecast", The United States Securities and Exchange
"intend", "plan", "project", "seek", "should", along with Commission permits oil and gas companies, in
similar or analogous expressions, are used to identify their filings with the SEC, to disclose only proved
such forecasts. These predictions evidently involve reserves that a company has demonstrated by
risks and uncertainties, whether foreseen or not by actual production or conclusive formation tests to
the Company. Therefore, the future results of be economically and legally producible under
operations may differ from current expectations, and existing economic and operating conditions. We
readers must not base their expectations exclusively use certain terms in this presentation, such as oil
on the information presented herein. The Company is and gas resources, that the SEC’s guidelines
not obliged to update the presentation/such forecasts strictly prohibit us from including in filings with the
in light of new information or future developments. SEC.
2

3. THE PRE-SALT REGION
Total Area: 149,000 km2
Area Under Concession: 41,772 km2 (28%)
Area Not Under Concession: 107,228 km² (72%)
Area With Petrobras Interest: 35,739 km2 (24%)
Legend:
Drilled wells (BR non operator)
Drilled wells (BR operator)
Pre-Salt reservoirs
Production fields
Exploratory blocks
3

4. BUSINESS PLAN 2009-2013
2% 2% 2% OIL AND GAS PRODUCTION
3% CAPEX 2009- 2013: US$174.4 billion
2009-
5,729
7% 5.6 3.0 E&P
2.8 7.7% p.y.
11.8 .y.
4 .8 % p
2 23
RTC
3.2 409
G&E 3,655
1.177
43.4
131
104.6 * 2,525
Petrochemicals 2,400 2 10
2,301 634
25% 59% Distribution 110
12 6
100
12 4
97
141 9.7% p.y.
321 316 3.92 0
273
Biof uels 2.68 0
1.7 92 1.8 55 1.9 71
Corporate
* US$ 17.0 billion allocated to Exploration 2007 2008 2009 2013 2020
Oil Production - Brazil Gas Produc tion - Brazil
Oil Production - International Gas Produc tion - International
Premium I
(600 th bpd)
DOMESTIC CRUDE THROUGHPUT and Premium II
GAS AND ENERGY
(300 th bpd)
1st Phase: 2013 Vision for 2013
2nd Ph ase: 2015
UPB
RNE 150 th • 9,629 km of gas pipelines
230 th bpd
bpd • 7,484 MW of capacity of thermal
REPAR power generation
Clara
Camarão
Rev amp • 3 LNG terminals in 2013
25 th bpd
REVAP Natural Gas Supply Growth
10 th bpd 2008: Brazil - 29 MM m3/d 2013: Brazil - 73 MM m3/d
Bolivia -29 MM m3/d Bolivia - 30 MM m3/d
REPLAN
Rev amp LNG - 32 MM m3/d
33 th bpd
4

5. NEW REGULATORY MODEL
Production Transfer
Sharing Pre-salt of Rights with
Agreement and compensation
Strategic Areas
Petrobras 100%
Petrobras Operator
Other companies
Trough Bidding
Process
Current
Other Areas Concession
Model
There will be no regulatory changes in the areas under concession, including the
pre-salt area already granted
5

6. BUSINESS PLAN X DE DESEMPENHO
INDICADORES PETROBRAS’ INVESTMENTS
40 75% CL(%)
68.5% 68.4% 69.8% 70.6%
67.2%
64.0% 66.0%
35 63.1% 65%
59.7% 59.9%
57.3% 31.6
30 55%
25.0
25 45%
US$ billion
21.2
LC (%)
19.9
20 19.5 35%
15.0
15 25%
12.4
9.9
10 7.7 15%
6.6 5.8
5.6
5 5%
0 -5%
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Year Average – PN 2003-2007 Year Average – PN 2006-2010 Year Average – PN 2007-2011
Actual Investment Year Average – PN 2008-2012 Year Average – PN 2009-2013
Target for Local Content
6 Data refers to 3rd quarter 2009

7. LOCAL CONTENT INCREASE
60 100%
50
74% 75% 76% 74% 80%
70% 69% 68% 70% 71%
64% 66% 67%
40 62% 63%
35,9
57% 59%
32,7
32,2
59% 60%
31,4
25,9
30
25,3
25
22,7
22,4
22,5
21,5
21,2
40%
19,9
18,9
17,4
17,2
15,8
20
15
15
12,4
10,2
11
9,6
9,2
20%
8,4
7,4
10
6,7
6,2
6,1
5,7
5,2
5,3
4,6
3,5
3,4
3
0 0%
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Target- National Target- Total Accrued National
Accrued- Total Target- LCI Accrued- LCI
o Increase on local content from 57% (2003) to 75% (3rd quarter 2009)
o The increase brought an additional capital of US$ 15.8 bi due to Brazilian economy acquisitions
o Generation of 690,000 additional jobs in the industry
7
Sources: Prominp LCI= Local Content Index

8. OPPORTUNITIES FOR NEW PLAYERS: NEW VESSELS, EQUIPAMENTS AND DRILLING
RIGS
NEW EQUIPAMENTS PURCHASES
New Vessels Critical Resources
2009 to 2013 to 2016 to
Delivery Plan 2013 2015 2020 Ignition Combustion Engines 143
603
Oil-Water Separator 23
Large Vessels (1) 44 5 0 7
Turbines
278
Supply and Special 34
Towers 410
Vessel 34
92 50 53 645
Tanks 279
Reactors
106
(2)
161
Production Platforms 15 8 22 Crane 89
22
Others (Jack-ups and Drawork 133
40
TLWP) 2 2 3 Generators 256
24
Flares 31
3
Filters
609
Total 153 65 78 470
Compressors 629
48
M anifolds 140
Dry Wellhead
1280
426
Large Vessel Production Platform 229
Supply Vessel Wet Wellhead 98
(VLCC) (FPSO) 1280
Dry Christmas Tree 426
Wet Christmas Tree 417
75
2009 2010-2013
58 New Drilling Rigs until 2018
o 23 being delivered between 2009 and 2011
o 9 will be chartered via international bidding, being
delivered in 2012: Meeting Petrobras’ short-term needs,
while the national industry prepares itself for additional
orders
o 28 will be built in Brazil and being delivered between
8 (1)Promef 1 and Promef 2 2013 and 2018
(2)FPSO and SS

9. COMPETITIVE ADVANTAGE IN THE
DEEPWATER
COMPETITIVE ADVANTAGE IN DEEPWATER
2008 Gross Global Operated FPS Operators
Deepwater Production All Contracted Vessels (252 Vessels Total)
MUR HES REL
REL HES
MUR
1% 1%
2%% 1% 0 20 40 60 80 100 120
2 1%
BG Petrobras 45
APC 4% PBR Shell 15
5% 22% StatoilHydro 15
CVX ExxonMobil 13
6% BP 12
APC
6% Chevron 12
TOT
Anadarko 10
8%
XOM Total 9
14%
CNOOC 8
BP ConocoPhillips 8
9% XOM ENI/Agip 5
STL RDS Others 100
14% 14% FPSO Semi Spar TLP Other
o Petrobras operates 22% of global deepwater production and 18% of all operating vessels
Source: (1) PFC Energy | Note: Estimated v olumes abov e ref lect what operators are resp onsible f or producin g, not what they keep on a net working
9 interest or entitlement basis. Minimum water d epth is 300 meters; twelv e operators abov e account f or 94% of global deep water pr oductio n in 2008.
(2) Copy right © 2008 ODS-Petro data, Inc.

10. PETROBRAS RESEARCH CENTER: TECHNOLOGICAL INNOVATION FOR THE
NEXT DECADES
Partnership with over 120 universities and
research centers in Brazil, and 70
Institutions abroad.
Investments in Technology
2009-2013
US$ 4.0 billion
25%
47%
5%
23%
E&P Downstream G&E Corp.(Cenpes)
10

11. THEMATIC NETWORKS AND REGIONAL CENTERS
PETROBRAS Operational Units
National Research and Educational Institutions
New Laboratories Building Equipment purchases
Infrastructure increase Regional Centers
Research Infrastructure building
following international standards
7 Regional Centers
RJ - Rio de Janeiro(2) and Macaé(1)
BA - Salvador
RN - Natal
SE - Aracaju 2006 2009
ES - Vitória 38 Thematic Networks 50 Thematic Networks
71 Institutions in 19 80 Institutions in 19 states
states
2006 – 2008
422 signed agreements with 52 national research
and educational institutions
Contracts worth R$ 724 Millions
11

12. SUPPLIERS DEVELOPMENT
Technological Bottleneck
Identification of needs
Search for: ready solutions or
capabilities to be developed
Cooperation term with supplier
Engineer development Models manufactory and
laboratory tests
Prototypes manufactory and field
tests Material and/or supplier
homologation
Register
oDevelopment of 600 suppliers (70% nationals) in 16 years of CTs use
o Between 1993 and 2008: US$ 2.2 bi in the development of new suppliers and materials
12

13. DEMAND-DRIVEN INDUSTRIAL POLICY
SUPPLY
Local O&G
Industry Operators
Industry
(Supply Chain) Purchase Power
Competitiveness
G&S Demand
• Association with local
companies (Scale)
• Implementation of
industrial plants in
Brazil
an al
mp i on
ies
C o rnat
e
In t
Sustainable Actions
Industry
O&G Operators
Support Actions Promotion Actions
Government
Infra
Combined agents Structure Technology People Assessment Financing
(Prominp)
13

14. COMPETITIVE NATIONAL SUPPLY OF GOODS AND SERVICES
Adequacy of The National Supply Industrial
Complex
PATH
5. Incentive for international
companies to establish
GOOD AND SERVICES SUPPLY Imports
operations in Brazil
4. Incentive for association
between national and
National Increase in international companies
Industry National
Supply 3. Incentive for new national
Capacity of entrants
G&S
2. Develop competition among
Imports medium competitive sectors
1. Increase productivity capacity of
National National highly competitive sectors
Industry Industry
Current Demand Future Demand
14

15. DEMAND DECOMPOSITION AND SUPPLY CHAIN
G&S Su pply Chain
Goods & Services
Implementation/
C&A
Sub-component/ Suppliers O&G
Auxiliary Services EPC Operators
Integrator G&S Demands
Sub-Suppliers (Scale)
Shipyard
Demand Demand Demand
Sub-Components Equipments
/Materials Plant/ Unit
Supply
Chain
15

16. DEMAND DECOMPOSITION AND SUPPLY CHAIN
G&S Su pply Chain
Important Questions
Sub-component/ Implementation/
Suppliers
SUPRIM ENTOC&A
Auxiliary Services Demand Organization:
Indústria Operadoras
Nacional EPC
Demand de P&G
(Cadeia de Suprimento)
Integrator Decomposition
Goods & Services Demandas de B&S
(Escala)
Sub-Suppliers Shipyard Supply Chain Visibility
Tool ( Special website for
Demand Demand Demand the supply chain)
Sub-Components Equipments
/Materials Plant/ Unit
Supply
Chain
16

17. SPECIAL WEBSITE FOR OIL AND GAS SUPPLY CHAIN SECTOR
17

18. PROMINP - NEW HUMAN RESOURCES DEMAND
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Business Plan 2008 – 2012
28 Rigs
146 supply vessels
New Production Platforms
Promef II
Leasing of 19 Vessels
Refinery- Premium I
Refinery-Premium II
207,643
Human Resource Gap
BP 2009-13
25,540
52,862 Professionals
Qualified Selected
Professionals
18

19. MAJOR TECHNOLOGICAL DEVELOPMENTS UNDER EVALUATION
PLANSAL - Pre-Salt Development Master Plan
Offshore
logistical hub
Water-alternating- Offshore
gas (HC or CO2) produced fluid
injection handling hubs
CO2 storage in
Extended-reach saline aquifers,
and deviated depleted fields, salt
wells (salt) caves
Pre-Salt
Flow Assurance
Definitive Deepwater
and formation
CALM buoy
damage control Development
Dry completion
systems (SPAR, Reservoir
TLP, FPDSO, …) Characterization
Offshore gas
Floating LNG storage in salt
caves
CO2 separation /
capture technology
19

20. Thank You
20