The document summarizes Petrobras' financial results for the second quarter of 2009. It notes a 6% increase in oil and gas production compared to the previous quarter due to production boosts from several platforms. Exploration and production activities are increasing in the pre-salt region with new wells and rigs. Lifting costs remained stable while oil prices rose between the quarters. Overall the company saw significant improvements in operating income and net income compared to the previous quarter.

1. Conference call / Webcast RESULTS ANNOUCEMENT 2nd Quarter 2009 (Brazilian Corporate Law) Almir Guilherme Barbassa CFO and Investor Relations Officer August 18, 2009 Pre-salt reservoir

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

16. CONTINUED GROWTH IN CAPITAL SPENDING Upstream Dowstream Gas & Energy International Corporate Distribution SPE 2,5 2,7 9,7 0,5 3,7 1,1 0,2 0,4 Capex in 1H08 – R$ 20.9 billion EBITDA (R$ million) Projects under Negociation Increase in the Company’s capex supported by a cash generation. Capex in 1H09 – R$ 32.5 billion 1,5 2,8 0,1 0,4 0,4 7,1 1,0 1,1 14,8 6,4 3,1 4,2 0,2 0,7 2,6 0,7

17. WIDE ACCESS TO FINACIAL SOURCES (1) Values not disbursed up to 07/31//09 (2) R$ 25 billion converted by the FX rate in 07/30/09 Bonds Issues March 15, 2019 8.125% US$ 1.5 billion Global Notes February 11 6.875% Yield to investor Maturity Value Issue type Conclusion Date March 15, 2019 US$ 1.25 billion Global Notes July 09 Capital Market Development Banks/Export Promotion Agencies (1) US$ 6,5 billions, acquired in the first half, to be changed to bonds issues, with two years maturity. Bridge Loan 19 years e 8 months US$ 13.3 billions (2) BNDES July 30 10 years US$ 10 billions China Development Bank May 19 5 - 10 years US$ 2 billions US EximBank April 29 Term Value Lender Date

19. For more information: Investor Relations www.petrobras.com.br/ri +55 21 3224-1510 [email_address]