Company: PBR
Filing Date: 2025-09-03
Form Type: 424B2
Source: 0001104659-25-086714
Chunk: 80

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-03
Form: 424B2
Chunk 80
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 e Seguro, ou relativas a Títulos e Valores Mobiliários), or IOF/Exchange, due on the conversion of reais into foreign currency and on the conversion
of foreign currency into reais. Currently, the IOF/Exchange rate for almost all foreign currency exchange transactions is 0.38%.
According to Section 15-B of the Decree No. 6,306, as amended, the settlement of exchange transactions in connection with foreign
financing or loans, for both inflow and outflow of proceeds into and from Brazil, are subject to IOF/Exchange at a 0% rate. Currently,
in the case of the settlement of foreign exchange transactions (including simultaneous foreign exchange transactions), in connection with
the inflow of proceeds to Brazil deriving from foreign loans, including those obtained through the issuance of notes in the international
market, the IOF/Exchange tax rate is 0%. The Brazilian government is permitted to increase this rate at any time up to 25.0%. Any such
increase in rates may only apply to future transactions.

In addition, the Brazilian
tax authorities could argue that a Tax on Loan Transactions (Imposto sobre Operações de Crédito, Câmbio e Seguro,
ou relativas a Títulos e Valores Mobiliários), or IOF/Credit, due on loan transactions could be imposed upon any amount
paid in respect of the Notes by the guarantor under the guarantee given at a rate of up to 1.88% of the total amount paid. IOF/Credit,
however, can only be levied on on-shore loan transactions, so cross-border payments to investors resident outside Brazil should not be
subject to this taxation.

Generally, there are no inheritance,
gift, succession, stamp, or other similar taxes in Brazil with respect to the ownership, transfer, assignment or other disposition of
the Notes by a Non-Resident, except for gift and inheritance taxes imposed by some Brazilian states on gifts or bequests by individuals
or entities not domiciled or residing in Brazil to individuals or entities domiciled or residing within such states.

Dutch Tax Considerations

The following describes certain material Dutch tax consequences for a holder who is neither a resident nor deemed to be a resident of the Netherlands for Dutch tax purposesin respect of the ownership, acquisition and disposal of the Notes.

This section is based on the
Dutch tax laws, published regulations thereunder and published authoritative case law, all as in