Company: PBR
Filing Date: 2025-09-05
Form Type: 424B2
Source: 0001104659-25-087755
Chunk: 31

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-05
Form: 424B2
Chunk 31
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 result in a material adverse effect on PGF and its subsidiaries taken as a whole and if the liquidation or dissolution is part of      
 a corporate reorganization of PGF or Petrobras.                                                                                            |

<div align='center'>S-27</div>

PGF may omit to comply with any term, provision or condition set forth in certain covenants applicable to a series of the Notes or any term, provision or condition of the indenture for such series, if before the time for the compliance the holders of at least a majority of the principal amount of the outstanding Notes of such series waive the compliance, but no waiver can operate except to the extent expressly waived, and, until a waiver becomes effective, PGF’s obligations and the duties of the trusteein respect of any such term,
provision or condition will remain in full force and effect.

As used above, the following
terms have the meanings set forth below:

“indebtedness”
means any obligation (whether present or future, actual or contingent and including any guaranty) for the payment or repayment of money
which has been borrowed or raised (including money raised by acceptances and all leases which, under IFRS Accounting Standards, would
be a capital lease obligation).

A “guaranty” means
an obligation of a person to pay the indebtedness of another person including, without limitation:

| · | an obligation to pay or purchase such indebtedness; |

| · | an obligation to lend money or to purchase or                                                                                              
 subscribe for shares or other securities or to purchase assets or services in order to provide funds for the payment of such indebtedness; |

| · | an indemnity against the consequences of a default 
 in the payment of such indebtedness; or            |

| · | any other agreement to be responsible for such 
 indebtedness.                                  |

A “lien” means
any mortgage, pledge, lien, hypothecation, security interest or other charge or encumbrance on any property or asset including, without
limitation, any equivalent created or arising under applicable law.

A “PGF permitted lien”
means any:

| (a) | lien arising by operation of law, such as merchants’, maritime or                                                                   
 other similar liens arising in PGF’s ordinary course of business or that of any subsidiary or lien in respect of taxes, assessments 
 or other governmental charges that are not yet delinquent or that are being contested in good faith by appropriate proceedings;     |

| (b) | lien arising from