Company: PBR
Filing Date: 2025-09-05
Form Type: 424B2
Source: 0001104659-25-087755
Chunk: 18

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-05
Form: 424B2
Chunk 18
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1.01 |     |         |          1.46 |     |         |          3.31 |
| Preferred shares                            |     |                                          |                      0.28 |     |      |          0.39 |     |                                  |                    1.01 |     |         |          1.46 |     |         |          3.31 |
| Common                                      
 ADS(5)                                      |     |                                          |                      0.56 |     |      |          0.78 |     |                                  |                    2.03 |     |         |          2.93 |     |         |          6.62 |
| Preferred                                   
 ADS(5)                                      |     |                                          |                      0.56 |     |      |          0.78 |     |                                  |                    2.03 |     |         |          2.93 |     |         |          6.62 |

| (1) | Petrobras recognized impairment losses of U.S.$1,531 million in 2024, U.S.$2,680 million in 2023 and U.S.$1,315 million in 2022.                                                                                                                                                                                                                           |
| (2) | This line is equivalent to “income before net finance expense, results of equity-accounted investments and income taxes” derived from our audited consolidated financial statements.                                                                                                                                                                       |
| (3) | Shareholders refer to Petrobras shareholders and do not include the noncontrolling shareholders.                                                                                                                                                                                                                                                           |
| (4) | The total number of shares does not include shares in treasury.                                                                                                                                                                                                                                                                                            |
| (5) | The ratio of ADS to Petrobras’s common and preferred shares is two shares to one ADS.                                                                                                                                                                                                                                                                      |
| (6) | Interest on capital and/or dividends proposed for the periods. Amounts were based on the exchange rate prevailing at the date of the approval by Petrobras’s board of directors, except for minimum mandatory dividends, which is based on the closing exchange rate on the date that Petrobras’s audited consolidated financial statements were released. |

<div align='center'>S-18

CAPITALIZATION</div>

The following table sets out
the consolidated debt (current and non-current lease liability and finance debt) and capitalization of Petrobras as of June 30, 2025
(i) on an actual basis, which have been derived from Petrobras’s unaudited condensed consolidated interim financial statements
and (ii)