Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000664
Chunk: 119

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 119
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 |          2.81 |           2.81 |
| Basic and diluted earnings (losses) per ADS equivalent - in U.S. dollars (1) |          1.16 |          1.16 |           1.16 |          3.82 |          3.82 |           3.82 |          5.62 |          5.62 |           5.62 |
| (1) Petrobras' ADSs are equivalent to two shares.                            |               |               |                |               |               |                |               |               |                |

Basic earnings per share are calculated by dividing
the net income (loss) attributable to shareholders of Petrobras by the weighted average number of outstanding shares during the period.
The change in the weighted average number of outstanding shares is due to the Share repurchase program (preferred shares) which was closed
on August 4, 2024.

Diluted earnings per share are calculated by adjusting
the net income (loss) attributable to shareholders of Petrobras and the weighted average number of outstanding shares during the period
taking into account the effects of all dilutive potential shares (equity instrument or contractual arrangements that are convertible into
shares).

Basic and diluted earnings are identical as the
Company has no potentially dilutive shares.

| 33. | Financial risk management |

The Company is exposed to a variety of risks arising
from its operations, including price risk (related to crude oil and oil products prices), foreign exchange rates risk, interest rates
risk, credit risk and liquidity risk. Corporate risk management is part of the Company’s commitment to act ethically and comply
with the legal and regulatory requirements of the countries where it operates.

To manage market and financial risks the Company
prefers structuring measures through adequate capital and leverage management. While managing risks, the Company considers its corporate
governance and controls, technical departments and statutory committees monitoring, under the guidance of the Board of Executive Officers
and the Board of Directors. The Company takes risks into account in its business decisions and manages any such risk in an integrated
manner to take advantage of the benefits of diversification.

In its corporate risk management process, Petrobras
maintains derivative financial instruments to hedge its exposures to market risks on certain occasions and designates certain U.S. dollar
obligations and highly probable future exports as hedge accounting relationships to protect against exchange rate variations.

The Company presents a sensitivity analysis for
the period of one year, except for