Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000670
Chunk: 3

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 3
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 start of commercial operation of the Natural Gas Processing Unit (UPGN), located at the Boaventura Energy Complex in
Itaboraí, Rio de Janeiro. These factors offset the reduction in production due to maintenance stoppages, the decline of mature
fields.

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| NOTES TO THE FINANCIAL STATEMENTSPETROBRAS(In millions of reais, unless otherwise indicated) |

In 2024, according to SEC - Securities and Exchange Commission
criteria, the company maintained the trajectory of significant addition of reserves, focusing on profitable assets and aligned with the
search for a fair energy transition. The incorporation occurred mainly due to the continued development of the Atapu and Sépia
Fields and of the performance of the assets, with emphasis on the Búzios, Itapu, Tupi and Sépia fields, in the Santos Basin.
There were no relevant changes in reserves resulting from changes in the price of oil (more details in Additional information on oil and
natural gas exploration and production activities – unaudited).

Petrobras also estimates reserves according to the ANP/SPE
criteria (National Agency for Petroleum, Natural Gas and Biofuels / Society of Petroleum Engineers). As of December 31, 2024, proven reserves
according to this criterion reached 11.7 billion barrels of oil equivalent. The main differences between the two criteria are detailed
in note 4.1.

The cash provided by operational activities, besides the proceeds
from finance debt and the other sources of funds were used for Property, Plant and Equipment (note 23), debt service fulfillment (that
includes the prepayment of securities in the international capital market and the amortization of leases (notes 30 and 31), and used for
payment of dividends (note 32).

The proposed allocation of the result to be submitted for
deliberation at the 2025 Ordinary General Meeting, which considers the distribution of dividends for the 2024 financial year, is in line
with the shareholder remuneration policy (note 32).

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| NOTES TO THE FINANCIAL STATEMENTSPETROBRAS(In millions of reais, unless otherwise indicated) |

Gross debt in reais was impacted mainly by the 27.9% devaluation
of the real against the dollar in 2024 (note 7).

The financial result in 2024 was mainly influenced by the
loss with exchange rate variation of the real against the dollar and by