Company: PBR
Filing Date: 2025-09-03
Form Type: 424B2
Source: 0001104659-25-086714
Chunk: 55

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-03
Form: 424B2
Chunk 55
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 including credit, custody, lending and borrowing of securities and tri-party collateral management; it interfaces with
the domestic markets of several countries; its customers include banks, including central banks, securities brokers and dealers, banks,
trust companies and clearing corporations and certain other professional financial intermediaries; indirect access to the Euroclear system
is also available to others that clear through Euroclear customers or that have custodial relationships with Euroclear customers; and
all securities in Euroclear are held on a fungible basis, which means that specific certificates are not matched to specific securities
clearance accounts.

Clearance and Settlement Procedures

We understand that investors
that hold their Notes through Clearstream, Luxembourg or Euroclear accounts will follow the settlement procedures that are applicable
to securities in registered form. Notes will be credited to the securities custody accounts of Clearstream, Luxembourg and Euroclear participants
on the business day following the settlement date for value on the settlement date. They will be credited either free of payment or against
payment for value on the settlement date.

We understand that secondary
market trading between Clearstream, Luxembourg and/or Euroclear participants will occur in the ordinary way following the applicable rules and
operating procedures of Clearstream, Luxembourg and Euroclear. Secondary market trading will be settled using procedures applicable to
securities in registered form.

You should be aware that investors
will only be able to make and receive deliveries, payments and other communications involving the Notes through Clearstream, Luxembourg
and Euroclear on business days. Those systems may not be open for business on days when banks, brokers and other institutions are open
for business in the United States or Brazil.

Because of time zone differences,
the securities account of a Euroclear or Clearstream, Luxembourg participant purchasing an interest in a global note from a participant
in DTC will be credited and reported to the relevant Euroclear or Clearstream, Luxembourg participant, during the securities settlement
processing day (which must be a business day for Euroclear and Clearstream) immediately following the settlement date of DTC. DTC has
advised us that cash received in Euroclear or Clearstream, Luxembourg as a result of sales of interests in a global note by or through
a Euroclear or Clearstream, Luxembourg participant to a participant in DTC will be received with value on the settlement date of DTC but
will be available in the relevant Euroclear or Clearstream, Luxembourg cash account only as of the business day for Euroclear or Clearstream,
Luxembourg following DTC’s settlement date.