Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 150

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 150
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 them, by means of a separate voting procedure.
 Our Bylaws also provide that, regardless of the rights granted to minority shareholders, the Brazilian federal government always has the right to elect the majority of our directors, regardless of the number of directors.
 The term of office of our directors may not exceed two years and any member of our Board of Directors may be re-elected for up to three consecutive times.
 In accordance with Brazilian Corporate Law, shareholders may remove any director from office at any time with or without cause at an extraordinary shareholders’ meeting, and in case of removal of any board member elected through cumulative voting procedure, it will result in the removal of all of the other members elected under the same procedure, after which new elections must occur.
 Our Board of Directors must be composed of, at least, 40% independent members, in compliance with Brazilian Corporate Law and B3 Level 2 rules. In case of contradictions between these rules, the stricter rules prevail.
 For further information on Level 2 listing segment, see “Shareholder Information” in this annual report.
 For further information regarding the composition, attributions and duties of our Board of Directors, see Exhibit 1.1 to this annual report for a copy of our Bylaws.
 

Annual Report and Form 20-F 2024 |
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 As of the date of this annual report, we have the following 11 directors:
  

Annual Report and Form 20-F 2024 |
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Annual Report and Form 20-F 2024 |
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Annual Report and Form 20-F 2024 |
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Annual Report and Form 20-F 2024 |

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Annual Report and Form 20-F 2024 |
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Annual Report and Form 20-F 2024 |

Mr. Marcelo Gasparino da Silva  resigned as a member of the Board of Directors on February 20, 2025, effective on March 20, 2025. Under the terms of article 150 of Law No. 6,404/76 and article 25 of our Bylaws, in the event of a vacancy in the position of Board Member, the position may be filled