Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000664
Chunk: 4

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 4
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 investment valuation and specific operating costs and results under the Company's operations. In case a difference is identified,
for every financial year, the Brazilian Federal Government shall compensate the Company.

| 8 |

| INDEX |

| 2. | Basis of preparation |

| 2.1. | Statement of compliance and authorization 
 of consolidated financial statements      |

These consolidated financial statements have been
prepared and are being presented in accordance with the IFRS accounting standards as issued by the International Accounting Standards
Board (IASB).

The consolidated financial statements have been
prepared under the historical cost convention, except when otherwise indicated. The significant accounting policies used in the preparation
of these financial statements are set out in their respective explanatory notes.

The preparation of the financial statements requires
the use of estimates based on assumptions and judgements, which may affect the application of accounting policies and reported amounts
of assets, liabilities, revenues and expenses. Actual results may differ from these estimates. Relevant estimates and judgments with a
higher level of complexity are disclosed in explanatory note 4.

These consolidated financial statements were approved
and authorized for issue by the Company’s Board of Directors in a meeting held on February 26, 2025.

| 2.2. | Functional and presentation currency |

The functional currency of Petrobras and all of
its Brazilian subsidiaries is the Brazilian Real. The functional currency of the Petrobras direct subsidiaries that operate outside Brazil
is the U.S. dollar.

Petrobras has selected the U.S. dollar as its presentation
currency to facilitate a more direct comparison to other oil and gas companies. The financial statements have been translated from the
functional currency (Brazilian real) into the presentation currency (U.S. dollar). All assets and liabilities are translated into U.S.
dollars at the closing exchange rate at the date of the financial statements; income and expenses, as well as cash flows are translated
into U.S. dollars using the average exchange rates prevailing during the period. All exchange differences arising from the translation
of the consolidated financial statements from the functional currency into the presentation currency are recognized as cumulative translation
adjustments (CTA) within accumulated other comprehensive income in the consolidated statements of changes in shareholders’ equity.

| U.S. Dollar / Brazilian Real    | Dec/24 | Sep/24 | Jun/24 | Mar/24 | Dec/23 | Sep/23 | Jun/23 | Mar/23 | Dec/22 | Sep/22 | Jun/22 | Mar/22 |
| Quarterly average exchange rate