Company: PBR
Filing Date: 2025-11-07
Form Type: 6-K
Source: 0001292814-25-003847
Chunk: 45

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-11-07
Form: 6-K
Chunk 45
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 on forward contracts traded in stock exchanges.

The mark-to-market is adjusted to the credit risk
of the financial institutions, which is not relevant in terms of financial volume, since the Company makes contracts with highly rated
banks.

Changes in interest rate forward curves (CDI interest
rate) may affect the Company's results, due to the market value of these swap contracts. In preparing a sensitivity analysis for these
curves, a parallel shock was estimated based on the average maturity of these swap contracts, in the scope of the Company’s Risk
Management Policy, which resulted in a 537 basis point effect on the estimated interest rate. The effect of this sensitivity analysis,
keeping all other variables constant, is shown in the following table:

| Financial Instruments |     | Reasonably possible scenario |
| Swap CDI x USD        |     |                          -12 |

| c) | Sensitivity analysis for foreign            
 exchange rate risk on financial instruments |

The sensitivity analysis only covers the exchange
rate variation and maintains all other variables constant. The probable scenario is referenced on external sources like Focus bulletin
and Thomson Reuters, making use of the exchange rate forecast for the end of the following year, as follows:

| · | U.S. dollar x real - a 4.91% depreciation of the 
 real;                                            |

| · | euro x U.S. dollar - a 3.12% appreciation of the 
 euro;                                            |

| · | pound sterling x U.S. dollar - a 1.89% appreciation 
 of the pound sterling;                              |

| · | renminbi x U.S. dollar – a 1.14 % appreciation 
 of the renminbi.                               |

| 48 |

| NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTSPETROBRAS(Expressed in millions of US Dollars, unless otherwise indicated) |

The reasonably possible scenario has the same references
and considers the risk of a 20% depreciation of the closing exchange rate of the quarter against the reference currency, except for assets
and liabilities of foreign subsidiaries, when transacted in a currency equivalent to their respective functional currencies.

| Risk                                                     | Financial Instruments               | Exposure at   09.30.2025 | Exposure in R$ million | Probable Scenario | Reasonably possible scenario |
| Dollar/Real                                              | Assets                              |                    4,624 |                 24,593 |               227 |                          925 |
|                                                          | Liabilities                         |