Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000660
Chunk: 8

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 8
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 to investments and shareholders remuneration.

Throughout 2024, the external environment
was marked by a 2% decline in Brent prices and a 39% reduction in diesel crackspreads. Despite these factors, Petrobras achieved Adjusted
EBITDA without one-off events of US$ 45.9 billion.

Adjusted EBITDA without one-off events
in 2024 was 17% lower than in 2023, reflecting a deterioration in the external environment with lower oil prices and international margins
in the refining segment, as well as lower oil production volumes.

Net income for 2024 amounted to US$ 7.5
billion, a 70% reduction compared to 2023, mainly due to an accounting effect that does not affect our cash or equity: the exchange rate
variation of debts between Petrobras and its overseas subsidiaries. Without one-off events, net profit would have been US$ 19.4 billion.

Due to the depreciation of the final exchange
rate, the financial result for 2024 was negative by US$ 15.1 billion. In addition, financial expenses associated with the Tax Transaction
were recognized in 2Q24. The tax transaction was positive for the company as it ended billion-dollar disputes that caused great uncertainty
for the company’s cash position. Petrobras shares rose more than 3% following the announcement of the transaction.

In 4Q24, the company recorded a loss of
US$ 2.8 billion, mainly reflecting the impact of foreign exchange rate depreciation, which, as mentioned, is a purely accounting event,
as well as higher provisions, with no cash effect, in operating expenses, partially offset by lower income tax and social contribution
(IR/CSLL). Without one-off events, Petrobras would have recorded a profit of US$ 3.1 billion.

| PETROBRAS | Performance Report | 4Q24 | 9 |

One-off events

One-off events

Table 2 – One-off events

|                                                                                                                                                                                                                                                                        |        |        |        |         |        | Variation (%) |             |             |
| US$ million                                                                                                                                                                                                                                                            |   4Q24 |   3Q24 |   4Q23 |    2024 |   2023 |   4Q24 X 3Q24 | 4Q24 X 4Q23 | 2024 X 2023 |
| Net income (loss)                                                                                                                                                                                                                                                      | -2,766