Company: PBR
Filing Date: 2025-09-03
Form Type: 424B2
Source: 0001104659-25-086714
Chunk: 151

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-03
Form: 424B2
Chunk 151
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, no distribution exists and payment owing is not timely received by the depositary, the depositary may refuse to provide any further
services to ADR holders that have not paid those fees and expenses owing until such fees and expenses have been paid.

Payment of Taxes

ADR holders must pay any tax or other governmental
charge payable by the custodian or the depositary on any ADS or ADR, deposited security or distribution. If any taxes or other governmental
charges (including any penalties and/or interest) shall become payable by or on behalf of the custodian or the depositary with respect
to any ADR, any deposited securities represented by the ADSs evidenced thereby or any distribution thereon, such tax or other governmental
charge shall be paid by the applicable ADR holder to the depositary and by holding or having held an ADR or any ADSs, the ADR holder and
all beneficial owners of such ADSs, and all prior registered holders of such ADRs and prior beneficial owners of such ADSs, jointly and
severally, agree to indemnify, defend and save harmless each of the depositary and its agents in respect of such tax or governmental charge.
Each ADR holder and beneficial owner of ADSs, and each prior ADR holder and beneficial owner of ADSs, by holding or having held an ADR
or an interest in ADSs, acknowledges and agrees that the depositary shall have the right to seek payment of any taxes or governmental
charges owing with respect to the relevant ADRs from any one or more such current or prior ADR holder or beneficial owner of ADSs, as
determined by the depositary in its sole discretion, without any obligation to seek payment from any other current or prior ADR holder
or beneficial owner of ADSs. If an ADR holder owes any tax or other governmental charge, the depositary may (i) deduct the amount
thereof from any cash distributions, or (ii) sell deposited securities (by public or private sale) and deduct the amount owing from
the net proceeds of such sale. In either case the ADR holder remains liable for any shortfall. If any tax or governmental charge is unpaid,
the depositary may also refuse to effect any registration, registration of transfer, split-up or combination of deposited securities or
withdrawal of deposited securities until such payment is made. If any tax or governmental charge is required to be withheld on any cash
distribution, the depositary may deduct the amount required to be withheld from any cash