Table of Contents Table of Contents 2 List of Tables 4 List of Figures 4 Company Snapshot 5 Key Information 5 Company Overview 5 Oleo e Gas Participacoes SA, Valuation and Financial Data 6 Oleo e Gas Participacoes SA, Share Price Performance 6 Share Price Performance, Q1, 2015-Q1, 2016 6 Oleo e Gas Participacoes SA, Key Valuation Metrics 7 Key Valuation Metrics, Q1, 2015-Q1, 2016 7 Oleo e Gas Participacoes SA, Quarterly Results of Oil & Gas Operations Per boe Produced 8 Results of Oil & Gas Operations Per boe Produced, Q1, 2015-Q1, 2016 8 Results of Oil & Gas Operations Per boe Growth Rates, Q1, 2015-Q1, 2016 9 Oleo e Gas Participacoes SA, Quarterly E&P Costs Trends 10 Upstream Capital Expenditure, Q1, 2015-Q1, 2016 10 Oleo e Gas Participacoes SA, Quarterly Production Trends 11 Oleo e Gas Participacoes SA, Total Oil and Gas Production 11 Total Crude Oil and Natural Gas Production Trend, Q1, 2015-Q1, 2016 11 Total Crude Oil & Natural Gas Production, By Country/Region, Q1, 2015-Q1, 2016 12 Oleo e Gas Participacoes SA, Crude Oil Production 13 Total Crude Oil Production Trend, Q1, 2015-Q1, 2016 13 Crude Oil Production, By Country/Region, Q1, 2015-Q1, 2016 14 Oleo e Gas Participacoes SA, Valuation and Financial Data, 2011-2015 15 Oleo e Gas Participacoes SA, Share Price Performance, 2011-2015 15 Share Price Performance, 2011-2015 15 Key Valuation Metrics, 2011-2015 16 Oleo e Gas Participacoes SA, Production and Reserves Trends 17 Total Oil and Gas, Reserves and Production 17 Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 17 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 18 Crude Oil/Liquids Production and Reserve 19 Crude Oil/Liquids Production and Reserve Trend, 2011-2015 19 Crude Oil Production and Reserves By Country/Region, 2011-2015 20 Oleo e Gas Participacoes SA, E&P Costs Trends 21 Allocation of the Upstream Capital Expenditure 21 Upstream Capital Expenditure, 2011-2015 21 Exploration and Development Costs, By Country/Region, 2011-2015 22 Oleo e Gas Participacoes SA, Results of Oil & Gas Operations Trend 23 Oil and Gas Revenue and Expenses 23 Oil and Gas Revenue and Expenses, 2011-2015 23 Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 24 Oil and Gas Revenue and Expenses, Per boe 26 Oil and Gas Revenue and Expenses, By boe, 2011-2015 26 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 27 Oil and Gas Performance Metrics 28 Recent Developments 29 Oleo e Gas Participacoes SA - Recent Developments 29 Sep 20, 2016: Tubarao Azul Field Area Relinquishment 29 Sep 14, 2016: Oleo e Gas Participacoes Provides Production Numbers For August 2016 29 Aug 12, 2016: Oleo e Gas Participacoes Provides Production Numbers For July 2016 29 Jul 04, 2016: OGpar: Resume Of Production On Tubarao Martelo Field 30 Jun 08, 2016: Government Of Equatorial Guinea: Discovery Of Gas Accumulations In The Sothis EG-01-1 Well Drilled By Oleo And Gas In Block EG-01 Located In The Rio Muni Basin 30 Apr 15, 2016: Oleo e Gas Participacoes Provides Production Numbers For March 2016 31 Mar 22, 2016: OGpar And OGX Announces Changes In Its Board Of Directors 31 Mar 14, 2016: OGpar: Production Numbers For February 2016 31 Mar 07, 2016: Oleo e Gas Participacoes: Temporary Interruption Of Production On Tubarao Martelo Field 31 Appendix 33 Methodology 33 Coverage 33 Secondary Research 33 Primary Research 33 Data Information Sources 34 Company Source 34 SEC/Other Regulatory Filings 34 Other Sources 34 Expert Panel Validation 34 Data Definition 34 Oil and Gas Reserves 34 Units of Measure 35 About GlobalData 35 Disclosure 35 Disclaimer 35

List of Tables Table 1: Oleo e Gas Participacoes SA, Key Facts 5 Table 2: Oleo e Gas Participacoes SA, Share Price Performance, Q1, 2015-Q1, 2016 6 Table 3: Oleo e Gas Participacoes SA, Key Valuation Metrics, Q1, 2015-Q1, 2016 7 Table 4: Oleo e Gas Participacoes SA, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2015-Q1, 2016 8 Table 5: Oleo e Gas Participacoes SA, Results of Oil & Gas Operations Per boe Growth Rates, %, Q1, 2015-Q1, 2016 9 Table 6: Oleo e Gas Participacoes SA, Upstream Capital Expenditure, Q1, 2015-Q1, 2016 10 Table 7: Oleo e Gas Participacoes SA, Total Crude Oil and Natural Gas, Production, Q1, 2015-Q1, 2016 11 Table 8: Oleo e Gas Participacoes SA, Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2015-Q1, 2016 12 Table 9: Oleo e Gas Participacoes SA, Total Crude Oil Production, mmbbl, Q1, 2015-Q1, 2016 13 Table 10: Oleo e Gas Participacoes SA, Crude Oil Production, By Country/Region, mmbbl, Q1, 2015-Q1, 2016 14 Table 11: Oleo e Gas Participacoes SA, Share Price Performance, 2011-2015 15 Table 12: Oleo e Gas Participacoes SA, Key Valuation Metrics, 2011-2015 16 Table 13: Oleo e Gas Participacoes SA, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 17 Table 14: Oleo e Gas Participacoes SA, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 18 Table 15: Oleo e Gas Participacoes SA, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 19 Table 16: Oleo e Gas Participacoes SA, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 20 Table 17: Oleo e Gas Participacoes SA, Upstream Capital Expenditure, US$ mil, 2011-2015 21 Table 18: Oleo e Gas Participacoes SA, Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 22 Table 19: Oleo e Gas Participacoes SA, Revenue and Expenses, US$ mil, 2011-2015 23 Table 20: Oleo e Gas Participacoes SA, Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 25 Table 21: Oleo e Gas Participacoes SA, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 26 Table 22: Oleo e Gas Participacoes SA, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 27 Table 23: Oleo e Gas Participacoes SA, Oil and Gas Performance Metrics, 2011-2015 28 List of Figures Figure 1: Oleo e Gas Participacoes SA, Share Price Performance, BRL/Share, Q1, 2015-Q1, 2016 6 Figure 2: Oleo e Gas Participacoes SA, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q1, 2015-Q1, 2016 7 Figure 3: Oleo e Gas Participacoes SA, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2015-Q1, 2016 8 Figure 4: Oleo e Gas Participacoes SA, Upstream Capital Expenditure, US$ mil, Q1, 2015-Q1, 2016 10 Figure 5: Oleo e Gas Participacoes SA, Total Crude Oil and Natural Gas, Production, mmboe, Q1, 2015-Q1, 2016 11 Figure 6: Oleo e Gas Participacoes SA, Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2015-Q1, 2016 12 Figure 7: Oleo e Gas Participacoes SA, Total Crude Oil Production, mmbbl, Q1, 2015-Q1, 2016 13 Figure 8: Oleo e Gas Participacoes SA, Crude Oil Production, By Country/Region, mmbbl, Q1, 2015-Q1, 2016 14 Figure 9: Oleo e Gas Participacoes SA, Share Price Performance, BRL/Share, 2011-2015 15 Figure 10: Oleo e Gas Participacoes SA, Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 18 Figure 11: Oleo e Gas Participacoes SA, Oil Production, By Country/Region, mmbbl, 2011-2015 20 Figure 12: Oleo e Gas Participacoes SA, Revenue and Expenses, US$ mil, 2011-2015 23 Figure 13: Oleo e Gas Participacoes SA, Exploration Expenses, By Country/Region, US$ mil, 2011-2015 24 Figure 14: Oleo e Gas Participacoes SA, Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 24 Figure 15: Oleo e Gas Participacoes SA, Production Costs, By Country/Region, US$ mil, 2011-2015 25 Figure 16: Oleo e Gas Participacoes SA, Exploration Expenses per boe, By Country/Region, US$/boe, 2011-2015 27 Figure 17: Oleo e Gas Participacoes SA, Oil and Gas Performance Metrics, 2011-2015 28