Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 240

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 240
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 disposed of, on a non-recognition basis;            
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–                                           pension                                        
       funds, investment institutions (fiscale beleggingsinstellingen), exempt investment  
     institutions (vrijgestelde beleggingsinstellingen) (as defined in the Dutch Corporate 
      Income Tax Act 1969 (Wet op de vennootschapsbelasting 1969)) and other entities that 
    are, in whole or in part, not subject to or exempt from Dutch corporate income tax; and
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–                                              holders                                           
      of notes who are individuals and for whom the notes or any benefit derived from the notes  
      are a remuneration or deemed to be a remuneration for activities performed by such holders 
    or certain individuals related to such holders (as defined in the Dutch Income Tax Act 2001).
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 A holder of notes will not be subject to any Dutch taxes on income or capital gains in respect of the notes, including such tax on any payment under the notes or in respect of any gain realized on the disposal, deemed disposal, redemption or exchange of the notes, provided that:
 
–                                       such                                    
    holder is neither a resident nor deemed to be a resident of the Netherlands;
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–                                                such                                             
    holder does not have, and is not deemed to have, an enterprise or an interest in an enterprise
      (as defined in the Dutch Income Tax Act 2001 and the Dutch Corporate Income Tax Act 1969,   
      as applicable) that, in whole or in part, is either effectively managed in the Netherlands  
      or carried on through a (deemed) permanent establishment (vaste inrichting) or a permanent  
         representative (vaste vertegenwoordiger) in the Netherlands and to which enterprise      
                         or part of an enterprise the notes are attributable;                     
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–                                             if                                          
    such holder is an individual, such income or capital gains do not form “benefits from 
      miscellaneous activities in the Netherlands” (resultaat uit overige werkzaamheden   
    in Nederland), including without limitation activities in the Netherlands with respect
    to the notes that exceed “normal asset management” (normaal, actief vermogensbeheer); 
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–                                                   if                                               
     such holder is an entity, the holder is not entitled to a share in the profits of an enterprise 
       nor a co-entitlement to the net worth of an enterprise, which