Company: PBR
Filing Date: 2025-09-03
Form Type: 424B2
Source: 0001104659-25-086714
Chunk: 16

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-03
Form: 424B2
Chunk 16
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 accordance with their terms.

<div align='center'>S-14</div>

In the event that U.S. federal
fraudulent conveyance or similar laws are applied to the guaranties, and Petrobras, at the time it entered into the relevant guaranty:

| · | was or is insolvent or rendered insolvent by 
 reason of our entry into such guaranty;      |

| · | was or is engaged in business or transactions                                            
 for which the assets remaining with Petrobras constituted unreasonably small capital; or |

| · | intended to incur or incurred, or believed or                                                              
 believe that Petrobras would incur, debts beyond Petrobras’s ability to pay such debts as they mature; and |

| · | in each case, intended to receive or received                             
 less than the reasonably equivalent value or fair consideration therefor, |

then Petrobras’s obligations under such
guaranty could be avoided, or claims with respect to that agreement could be subordinated to the claims of other creditors. Among other
things, a legal challenge to the relevant guaranty on fraudulent conveyance grounds may focus on the benefits, if any, realized by Petrobras
as a result of the issuance of the Notes. To the extent that the relevant guaranty is held to be a fraudulent conveyance or unenforceable
for any other reason, the holders of the Notes would not have a claim against Petrobras under the relevant guaranty and would solely have
a claim against PGF. Petrobras cannot ensure that, after providing for all prior claims, there will be sufficient assets to satisfy the
claims of the noteholders relating to any avoided portion of the relevant guaranty.

We cannot assure you that the credit ratings for the Notes will not be lowered, suspended or withdrawn by the rating agencies.

The credit ratings of the
Notes may change after issuance. Such ratings are limited in scope, and do not address all material risks relating to an investment in
the Notes, but rather reflect only the views of the rating agencies at the time the ratings are issued. An explanation of the significance
of such ratings may be obtained from the rating agencies. We cannot assure you that such credit ratings will remain in effect for any
given period of time or that such ratings will not be lowered, suspended or withdrawn entirely by the rating agencies, if, in the judgment
of such rating agencies, circumstances so warrant. Any lowering, suspension or withdrawal of such ratings may have an adverse effect on