Company: PBR
Filing Date: 2025-11-07
Form Type: 6-K
Source: 0001292814-25-003847
Chunk: 48

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-11-07
Form: 6-K
Chunk 48
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4 and 24, respectively.

| 26.6. |     | Credit risk |

Credit risk management in Petrobras aims to mitigate
risk of not collecting receivables, financial deposits or collateral from third parties or financial institutions through the analysis,
granting and management of credit, based on quantitative and qualitative parameters that are appropriate for each market segment in which
the Company operates.

As of September 30, 2025, the financial assets of cash and cash equivalents and of marketable securities are not past due nor considered to be credit impaired, presenting fair valuesthat are equivalent to or do not differ significantly from their carrying amounts.

The effect of credit risk assessments on trade
receivables is available in notes 9.2 and 9.3, which present expected credit losses.

| 27. | Related party transactions |

The Company has a policy for related party transactions,
which is annually revised and approved by the Board of Directors in accordance with the Company’s by-laws.

The related-party transactions policy also aims
to ensure an adequate and diligent decision-making process for the Company’s key management.

| 50 |

| NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTSPETROBRAS(Expressed in millions of US Dollars, unless otherwise indicated) |

| 27.1. |     | Transactions with joint ventures,                 
 associates, government entities and pension plans |

The Company has engaged, and expects to continue
to engage, in the ordinary course of business in numerous transactions with joint ventures, associates, pension plans, as well as with
the Company’s controlling shareholder, the Brazilian Federal Government, which include transactions with banks and other entities
under its control, such as financing and banking, asset management and other transactions.

The balances of significant transactions are set
out in the following table:

|                                                                   |        |  09.30.2025 |        |  12.31.2024 |
|                                                                   | Assets | Liabilities | Assets | Liabilities |
| Joint ventures and associates                                     |        |             |        |             |
| Petrochemical companies (associates)                              |     44 |          67 |     65 |           1 |
| Other associates and joint ventures                               |     47 |          21 |     52 |          15 |
| Subtotal                                                          |     91 |          88 |    117 |          16 |
| Brazilian government – Parent and its controlled entities