Company: PBR
Filing Date: 2025-05-13
Form Type: 6-K
Source: 0001292814-25-002053
Chunk: 42

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-05-13
Form: 6-K
Chunk 42
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circumstances depending on business environment analysis and assessment of whether the targets of the Business Plan are being met.

The Company, by use of its assets, positions and
market knowledge from its operations in Brazil and abroad, may seek to optimize some of its commercial operations in the international
market, with the use of commodity derivatives to manage price risk.

The probable scenario uses market references, used
in pricing models for oil, oil products and natural gas markets, and takes into account the closing price of the asset on March 31, 2025.
Therefore, no effect is considered arising from outstanding operations in this scenario. The reasonably possible scenario reflects the
potential effects on the statement of income from outstanding transactions, considering a variation in the closing price of 20%. To simulate
the most unfavorable scenarios, the variation was applied to each asset according to open transactions: price decrease for long positions
and increase for short positions.

|                                                 |                                     |                   |                 Consolidated |
| Risk                                            | Operations                          | Probable scenario | Reasonably possible scenario |
| Derivatives not designated for hedge accounting |                                     |                   |                              |
| Crude oil and oil products - price changes      | Future and forward contracts (Swap) | −                 |                         -506 |
| Soybean oil– Price changes                      | Future and forward contracts (Swap) | −                 |                            − |
| Foreign – Depreciation of R$ compared to US$    | Forward contracts                   | −                 |                           -5 |
| Total                                           |                                     | −                 |                         -511 |

The positions with commodity derivatives are presented
in note 26.3.

| 51 |

| This interim financial information should be read together with the Company’s audited annual financial statements(Expressed in millions of reais, unless otherwise indicated) |

| 26.4.3 | Interest rate risk management |

The company preferentially does not use derivative financial
instruments to manage exposure to interest rate fluctuations, as they do not cause material impacts, except in specific situations presented
by Petrobras subsidiaries.

In this sensitivity analysis, the probable scenario represents
the amounts to be disbursed by Petrobras relating to the payment of interest on debts linked to floating rates as of March 31, 2025. The
reasonably possible scenario represents the disbursement if there is a 40% change on these rates, keeping all other variables constant.

| Risk                                                    |     | Probable scenario | Reasonably possible 
            scenario |
| SOFR