Company: PBR
Filing Date: 2025-09-03
Form Type: 424B2
Source: 0001104659-25-086714
Chunk: 23

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-03
Form: 424B2
Chunk 23
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 the Brazilian government’s
ownership interest in Petrobras, the Brazilian government is not responsible in any manner for PGF’s obligations under the 20 Notes
or Petrobras’s obligations under the guaranty for the 20 Notes.

<div align='center'>S-21</div>

Guaranties

Petrobras will unconditionally
and irrevocably guarantee the full and punctual payment when due, whether at the maturity date of the Notes, or earlier or later by acceleration
or otherwise, of all of PGF’s obligations now or hereafter existing under the indenture and the Notes, whether for principal, interest,
make-whole premium, fees, indemnities, costs, expenses or otherwise. The guaranties will be unsecured and will rank equally with all of
Petrobras’s other existing and future unsecured and unsubordinated debt including guaranties previously issued by Petrobras in connection
with prior issuances of indebtedness. See “Description of the Guaranties.”

Depositary with Respect to Global Notes

The Notes will be issued in global registered form with The Depository Trust Company (“DTC”) as depositary. For further
information in this regard, see “Clearance and Settlement.”

Events of Default

The following events will
be events of default with respect to each series of the Notes:

| · | PGF does not pay the principal on the Notes of                                                                                         
 such series within seven calendar days of its due date and the trustee has not received such amounts from Petrobras under the relevant 
 guaranty by the end of that seven-day period.                                                                                          |

| · | PGF does not pay interest or other amounts, including                                                                                       
 any additional amounts, on the Notes of such series within 30 calendar days of their due date and the trustee has not received such amounts 
 from Petrobras under the relevant guaranty by the end of that 30-day period.                                                                |

| · | PGF or Petrobras remains in breach of any covenant                                                                                           
 or any other term in respect of the Notes of such series issued under the indenture or guaranty for such series for 60 calendar days after   
 receiving a notice of default stating that it is in breach. The notice must be sent by either the trustee or holders of 25% of the principal 
 amount of such series of the Notes.                                                                                                          |

| · | The maturity of any indebtedness of PGF or Petrobras                                                                                            
 or a material subsidiary in a total aggregate principal amount of U