Company: PBR
Filing Date: 2025-09-05
Form Type: 424B2
Source: 0001104659-25-087755
Chunk: 117

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-05
Form: 424B2
Chunk 117
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:

“indebtedness” means any obligation
(whether present or future, actual or contingent and including any guaranty) for the payment or repayment of money which has been borrowed
or raised (including money raised by acceptances and all leases which, under IFRS, would be a capital lease obligation).

A “guaranty” means an obligation of a person to pay the
indebtedness of another person including, without limitation:

| · | an obligation to pay or purchase such indebtedness; |

| · | an obligation to lend money or to purchase or subscribe for shares or other securities or to purchase assets or services in order 
 to provide funds for the payment of such indebtedness;                                                                            |

| · | an indemnity against the consequences of a default in the payment of such indebtedness; or |

| · | any other agreement to be responsible for such indebtedness. |

A “lien” means any mortgage, pledge,
lien, hypothecation, security interest or other charge or encumbrance on any property or asset including, without limitation, any equivalent
created or arising under applicable law.

A “PGF permitted lien” with respect
to any series of debt securities issued means any:

| (a) | lien arising by operation of law, such as merchants’, maritime or other similar liens arising in PGF’s ordinary course                   
 of business or that of any subsidiary or lien in respect of taxes, assessments or other governmental charges that are not yet delinquent 
 or that are being contested in good faith by appropriate proceedings;                                                                    |

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| (b) | lien arising from PGF’s obligations under performance bonds or surety bonds and appeal bonds or similar obligations incurred 
 in the ordinary course of business and consistent with PGF’s past practice;                                                  |

| (c) | lien arising in the ordinary course of business in connection with indebtedness maturing not more than one year after the date on    
 which that indebtedness was originally incurred and which is related to the financing of export, import or other trade transactions; |

| (d) | lien granted upon or with respect to any assets hereafter acquired by PGF or any subsidiary to secure the acquisition costs of those       
 assets or to secure indebtedness incurred solely for the purpose of financing the acquisition of those assets, including any lien existing 
 at the time of the acquisition of those assets, so long as the maximum amount so secured does not exceed the aggregate acquisition costs   
 of all