Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 185

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 185
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 under limited circumstances, shareholders have the right to withdraw their equity interest from a company and to receive payment for the portion of shareholder’s equity attributable to their equity interest.
 This right of withdrawal may be exercised by the holders of the adversely affected common or preferred shares, provided that certain conditions set forth in Brazilian Corporate Law are met, in the event that we decide to:
 
–                                            increase                                        
    the existing classes of preferred shares, without preserving the proportions to any other
                                    class of preferred shares;                               
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–                                              change                                           
    the preferences, privileges, redemption or amortization conditions of any class of preferred
     shares or to create a new class of preferred shares entitled to more favorable conditions  
                                     than the existing classes;                                 
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–                              merge                            
    into another company or to consolidate with another company;
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–                                    participate                                 
    in a centralized group of companies as defined under Brazilian Corporate Law;
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–                    reduce                 
    the mandatory distribution of dividends;
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–            change        
    our corporate purposes;
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–       spin-off    
    a portion of us;
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–                                               transfer                                            
        all of our shares to another company or to receive shares of another company in order to    
    make us, whose shares are transferred a wholly-owned subsidiary, known in Brazil as incorporação
                                              de ações; or                                          
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–                                              acquire                                            
    control of another company at a price that exceeds the limits set forth in Brazilian Corporate
                                                 Law.                                             
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 This right of withdrawal may also be exercised in the event that the entity resulting from a merger, consolidation or spin-off of a listed company and us do not negotiate new shares in the secondary market, within 120 days from the date of the shareholders’ meeting approving the transaction, in accordance with the applicable SEC regulations.
 Considering that our Bylaws do not provide for rules to determine any value for redemption, under Brazilian Corporate Law, any redemption of shares arising out of the exercise of such withdrawal rights would be made based on the book value per share, determined on the basis of the last balance sheet approved by our shareholders. However, if a shareholders’ meeting giving rise to redemption rights occurred more than 60 days after the date of the last approved balance sheet, a shareholder would be entitled to demand that his or her shares be valued on the basis of a new balance sheet dated within 60 days of such shareholders’ meeting. In this case, we would immediately pay 80% of the amount of reimbursement calculated