Company: PBR
Filing Date: 2025-09-05
Form Type: 424B2
Source: 0001104659-25-087755
Chunk: 141

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-05
Form: 424B2
Chunk 141
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 election is made, either (x) cash or (y) additional ADSs representing such additional shares. If the above            
 conditions are satisfied, the depositary shall establish procedures to enable ADR holders to elect the receipt of the proposed dividend   
 in cash or in additional ADSs. There can be no assurance that ADR holders or beneficial owners of ADSs generally, or any ADR holder or    
 beneficial owner of ADSs in particular, will be given the opportunity to receive elective distributions on the same terms and conditions  
 as the holders of shares.                                                                                                                 |

<div align='center'>38</div>

If the depositary determines in its discretion
that any distribution described above is not practicable with respect to any specific ADR holder, the depositary may, after consultation
with Petrobras (to the extent reasonably practicable) choose any method of distribution that it deems practicable for such ADR holder,
including the distribution of foreign currency, securities or property, or it may retain such items, without paying interest on or investing
them, on behalf of the ADR holder as deposited securities, in which case the ADSs will also represent the retained items. If at any time
the depositary shall determine that in its reasonable judgment any foreign currency received by it is not convertible on a reasonable
basis into U.S. dollars transferable to the United States, or if any approval or license of any governmental authority or agency thereof
that is required for such conversion is not sought or, if sought, denied, the depositary may, subject to applicable laws and regulations,
either distribute the foreign currency (or an appropriate document evidencing the right to receive such foreign currency) to, or hold
such foreign currency (without liability for interest thereon) for the respective accounts of, the ADR holders entitled to receive the
same; provided, however, that if requested in writing by an ADR holder entitled thereto, the depositary may, in its reasonable discretion,
distribute the foreign currency, as promptly as practicable. If any such conversion of foreign currency, in whole or in part, can be effected
for distribution to some but not all of the ADR holders entitled thereto, the depositary shall make such conversion and distribution in
U.S. dollars to the extent permissible to the ADR holders entitled thereto and may either so distribute or hold such balance (without
liability for interest thereon) for the respective accounts of, the ADR holders entitled thereto for whom such conversion and distribution