Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000670
Chunk: 23

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 23
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4.8. The Company considers only a portion of
its projected exports as “highly probable future exports”. When determining future exports as highly probable, and therefore
eligible as a hedged item for application of cash flow hedge accounting, the Company considers the effects related to the transition to
a low-carbon economy. Carbon prices were not incorporated in such estimates.

Based on Brent prices, constant in the APS and
NZE scenarios, sensitivity analyses were prepared to determine the need to reclassify exchange rate variations recorded in equity to the
income statement. This sensitivity simulated a new future cash flow from exports, changing only the price variable, while keeping all
other components, variables, assumptions and data unchanged. In this sensitivity analysis, it was found that it would be necessary to
reclassify exchange rate losses recorded in equity to the income statement, estimated at R$61 only in the NZE scenario.

The simulations used to perform such sensitivity
analysis, based on Brent prices of the scenarios APS and NZE, are not considered by the Company as the best estimates to determine expected
effects of the reclassification of foreign exchange variation recorded in equity to the statement of income.

| 23 |

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

a.4) Potential effects on the useful lives of PP&E

A transition to a low-carbon economy that is faster
than the Company anticipates may reduce the useful life of its assets, which could lead to an increase in annual depreciation, depletion
and amortization expenses.

Assets directly related to the production of oil
and gas in a contracted area are depleted using the units of production method and depreciated or amortized using the straight-line method.
As of December 31, 2024, the carrying amount of these assets in operation in Brazil is R$ 560,103. Such assets do not have a useful life
ending in or after 2050.

As mentioned in item “Transition risk to
low carbon economy”, the reference scenario of the Strategic Plan indicates that there will be persistent global demand for oil
in the coming decades. Additionally, calculations of expected production and oil and gas reserves in this scenario consider the effects
of the transition to a low-carbon economy.

The Company's refining plants consist of 10 refineries
in Brazil. Based on the current depreciation rates of the assets in operation applied to the respective carrying amounts at December 31,
2024, which amounts to R$