Company: PBR
Filing Date: 2025-09-03
Form Type: 424B2
Source: 0001104659-25-086714
Chunk: 41

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-03
Form: 424B2
Chunk 41
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<div align='center'>S-32

DESCRIPTION OF THE GUARANTIES</div>

General

In connection with the execution
and delivery of the seventh supplemental indenture and the eighth supplemental indenture and the Notes offered by this prospectus supplement,
Petrobras will guarantee the 20 Notes and the 20 Notes (the “guaranties”) for the benefit of the holders.

The guaranties will provide
that Petrobras will unconditionally and irrevocably guarantee the Notes on the terms and conditions described below.

The following summary describes
the material provisions of the guaranties. You should read the more detailed provisions of the applicable guaranty, including the defined
terms, for provisions that may be important to you. This summary is subject to, and qualified in its entirety by reference to, the provisions
of the applicable guaranty.

Despite the Brazilian government’s
ownership interest in Petrobras, the Brazilian government is not responsible in any manner for PGF’s obligations under the Notes
or Petrobras’s obligations under the guaranties.

Ranking

The obligations of Petrobras
under the guaranties will constitute general unsecured obligations of Petrobras which at all times will rank pari passu, without
any preferences among themselves, with all other senior unsecured obligations of Petrobras that are not, by their terms, expressly subordinated
in right of payment to the obligations of Petrobras under the guaranties.

In addition, Petrobras’s obligations under the guaranties of the Notes rank, and will rank, pari passuwith its obligationsin respect of outstanding and future guaranties of indebtedness issued by PGF.

Nature of Obligation

Petrobras will unconditionally
and irrevocably guarantee (by way of a first demand guarantee) the full and punctual payment when due, whether at the maturity date of
the Notes, or earlier or later by acceleration or otherwise, of all of PGF’s obligations now or hereafter existing under the indenture
and the Notes, whether for principal, interest, make-whole premium, fees, indemnities, costs, expenses, tax payments or otherwise (such
obligations being referred to as the “guaranteed obligations”).

The obligation of Petrobras
to pay amounts in respect of the guaranteed obligations will be absolute and unconditional (thus waiving any benefits of order set forth
under Brazilian law, including those established in articles 827, 834, 835, 838