Company: PBR
Filing Date: 2025-09-03
Form Type: 424B2
Source: 0001104659-25-086714
Chunk: 49

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-03
Form: 424B2
Chunk 49
---
 recent balance sheet prepared in accordance with IFRS Accounting Standards).

Limitation on Consolidation, Merger, Sale or Conveyance

Petrobras will not, in one
or a series of transactions, consolidate or amalgamate with or merge into any corporation or convey, lease, spin-off or transfer substantially
all of its properties, assets or revenues to any person or entity (other than a direct or indirect subsidiary of Petrobras) or permit
any person (other than a direct or indirect subsidiary of Petrobras) to merge with or into it unless:

| · | either Petrobras is the continuing entity or                                                                                            
 the person (the “successor company”) formed by such consolidation or into which Petrobras is merged or that acquired (through           
 a transfer of assets, a spin-off or otherwise) or leased such property or assets of Petrobras will assume (jointly and severally with   
 Petrobras unless Petrobras will have ceased to exist as a result of such merger, consolidation or amalgamation), by an amendment to the 
 applicable guaranty, all of Petrobras’s obligations under such guaranty;                                                                |

| · | the successor company (jointly and severally                                                                                                     
 with Petrobras unless Petrobras will have ceased to exist as part of such merger, consolidation or amalgamation) agrees to indemnify each        
 holder against any tax, assessment or governmental charge thereafter imposed on such holder solely as a consequence of such consolidation,       
 merger, conveyance, spin-off, transfer or lease with respect to the payment of principal of, or interest on, the 20    Notes or the 20    Notes, 
 as applicable;                                                                                                                                   |

| · | immediately after giving effect to the transaction,                     
 no event of default, and no default has occurred and is continuing; and |

| · | Petrobras has delivered to the trustee an officers’                                                                                            
 certificate and an opinion of counsel, each stating that that such merger, consolidation, sale, spin-off, transfer or other conveyance         
 or disposition and the amendment to the applicable guaranty comply with the terms of the applicable guaranty and that all conditions precedent 
 provided for in such guaranty and relating to such transaction have been complied with.                                                        |

Notwithstanding anything to
the contrary in the foregoing, so long as no default or event of default under the indenture or the 20 Notes, or the 20 Notes, as applicable,
has occurred and is continuing at the time of such proposed transaction or would result therefrom and