Company: PBR
Filing Date: 2025-09-05
Form Type: 424B2
Source: 0001104659-25-087755
Chunk: 126

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-05
Form: 424B2
Chunk 126
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 for giving us default notice or our default having to exist for a specified period
of time were disregarded, the trustee may be considered to have a conflicting interest with respect to the debt securities or the indenture
for purposes of the Trust Indenture Act of 1939. In that case, the trustee may be required to resign as trustee under the applicable indenture
and we would be required to appoint a successor trustee.

<div align='center'>28

DESCRIPTION OF MANDATORY CONVERTIBLE SECURITIES</div>

Petrobras may issue mandatorily convertible securities
under which holders receive a specified number of its common shares or preferred shares at a future date or dates. The price per mandatory
convertible security and the number of common shares or preferred shares, as the case may be, that holders receive at maturity may be
fixed at the time mandatory convertible securities are issued or may be determined by reference to a specific formula set forth in the
mandatory convertible security. The mandatory convertible securities also may require Petrobras to make periodic payments to the holders
of the mandatory convertible securities, and such payments may be secured.

The applicable prospectus supplement will describe
the material terms of the mandatory convertible securities. Reference will be made in the applicable prospectus supplement to the mandatory
convertible securities, and, if applicable, collateral, depositary or custodial arrangements, relating to the mandatory convertible securities.
Material U.S. and Brazilian federal income tax considerations applicable to the holders of the mandatory convertible securities will also
be discussed in the applicable prospectus supplement.

<div align='center'>29

DESCRIPTION OF WARRANTS</div>

We may issue warrants to purchase our debt securities
and Petrobras may issue warrants to purchase preferred shares (which may be in the form of ADSs) or common shares (which may be in the
form of ADSs). Warrants may be issued independently or together with any securities and may be attached to or separate from those securities.
Each series of warrants will be issued under a separate warrant agreement to be entered into by us and a bank or trust company, as warrant
agent, all as will be set forth in the applicable prospectus supplement.

<div align='center'>Debt Warrants</div>

The following briefly summarizes the material terms
that will generally be included in a debt warrant agreement. However, we may include different terms in the debt warrant agreement for
any particular series of debt warrants and such other terms and all pricing and related terms will be disclosed in the applicable prospectus
sup