Company: PBR
Filing Date: 2025-05-13
Form Type: 6-K
Source: 0001292814-25-002051
Chunk: 33

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-05-13
Form: 6-K
Chunk 33
---
 and oil products (2)    |       -201 |         -1,450 |          5 |                        -13 | Level 1              |                            2025 |
| Total open derivative transactions                   |            |                |        -43 |                       -101 |                      |                                 |
| (1) Amounts in US$ and R$ are presented in millions. |            |                |            |                            |                      |                                 |
| (2) Notional value in thousands of bbl.              |            |                |            |                            |                      |                                 |

Commercial derivatives require guarantees, accounted
for as other assets and/or other liabilities.

|                       |            | Guarantees given as collateral |
|                       | 03.31.2025 |                     12.31.2024 |
| Commodity derivatives |         40 |                             69 |

Equity

|                                              |            | Cumulative losses in other comprehensive income (shareholders’ equity) |
|                                              | 03.31.2025 |                                                             12.31.2024 |
| Hedge accounting                             |            |                                                                        |
| Cash flow hedge on exports - Note 26.4.1 (a) |    -25,271 |                                                                -30,845 |
| Deferred income taxes                        |      8,590 |                                                                 10,485 |
| Total                                        |    -16,681 |                                                                -20,360 |

| 26.4. | Market risks |

| 26.4.1. | Foreign exchange rate risk management |

| a) | Cash flow hedge involving the 
 Company’s future exports      |

The Company uses hedge accounting for the risk
arising from foreign exchange rate variations of “highly probable future exports” (hedged item) by means of foreign exchange
rate variations of proportions of certain obligations denominated in U.S. dollars (hedging instruments).

The carrying amounts, the fair value as of March
31, 2025, and a schedule of expected reclassifications to the statement of income of cumulative losses recognized in other comprehensive
income (shareholders’ equity) based on a US$ 1.00 / R$ 5.7422 exchange rate are set out below:

|                                                                                                         |                                                                                           | Present value of hedging instrument notional 
 value at                                     
 03.31.2025                                   |                          |             |            |
| Hedging Instrument                                                                                      | Hedged Transactions                                                                       | Nature                                       
 of the Risk                                  | M