Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 183

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 183
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 meeting. According to B3´s Level 2 regulation, outstanding shares means all the shares    
       issued by a company, except for the shares held by the controlling shareholder, by persons  
    linked to such controlling shareholder and by our managers, as well as those shares in treasury
      and special class of preferred shares which purpose is to guarantee differentiated political 
      rights and be non-transferable and exclusive property of the privatizing entity. This matter 
          must only be discussed in a shareholders’ meeting installed with the presence of at      
       least 20% of the holders of the outstanding shares in a first call, or the presence of any  
                     number of holders of the outstanding shares in a second call.                 
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 Pursuant to Law No. 13,303/16, no decision taken at any shareholders’ meeting can change the corporate status of our company (i.e. sociedade anônima).
 Under Brazilian Corporate Law, if a shareholder has a conflict of interest with a company in connection with any proposed transaction, the shareholder may not vote in any decision regarding such transaction. Any transaction approved with the vote of a shareholder having a conflict of interest may be annulled and such shareholder may be liable for any damages caused and be required to return to us any gain it may have obtained as a result of the transaction.
 Also under Brazilian Corporate Law, minority shareholders representing at least 10% of our voting capital have the right to demand that a cumulative voting procedure be adopted to entitle each common share to as many votes as there are board members and to give each common share the right to vote cumulatively for only one candidate of our Board of Directors or to distribute its votes among several candidates. Pursuant to regulations promulgated by the CVM, the 10% threshold requirement for the exercise of cumulative voting procedures may be reduced depending on the amount of capital stock we possess. For a company like us, the threshold is 5%. Thus, shareholders representing 5% of our voting capital may demand the adoption of the cumulative voting procedure.
 Regarding the right to appoint members of our Board of Directors and our Fiscal Council, the following should be highlighted:
 
–                                                our                                             
      minority preferred shareholders that together hold at least 10% of the total capital stock 
    (excluding the shares held by our controlling shareholder) have the right to elect and remove
        one member to our Board of Directors at a shareholders’ meeting, by a separate voting    
                                              procedure;                                         
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–                                              our