Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000670
Chunk: 14

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 14
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 on the subject. Specifically for lawsuits by
outsourced employees, the Company estimates the expected loss based on a statistical procedure, due to the number of actions with similar
characteristics.

Arbitral, legal and administrative decisions against
the Company, new jurisprudence and changes of existing evidence can result in changes on the probability of outflow of resources and on
the estimated amounts, according to the assessment of the legal basis.

Note 19 provides further detailed information about
contingencies and legal proceedings.

| 4.6. | Sources of estimation uncertainty 
 related to decommissioning costs  |

The Company has legal obligations to remove equipment
and restore onshore and offshore areas at the end of operations. Its most significant asset removal obligations relate to offshore areas.
Estimates of costs for future environmental cleanup and remediation activities are based on current information about costs and expected
plans for remediation. The timing of abandonment and dismantling of areas is based on the length of reserves depletion, in accordance
with the ANP/SPE definitions. Therefore, revisions to reserves estimates that result in changes in the timing of reserves depletion may
impact the provision for decommissioning cost. For additional information about revisions to the Company’s reserves estimates, see
note 4.1.

These obligations are recognized at present value,
using a risk-free discount rate, adjusted to the Company's credit risk. Changes in the discount rate can cause significant variations
in the recognized amount, due to the long-term nature until abandonment.

The calculation to determine the amounts to be
provisioned are complex, since: i) the obligations are long-term; ii) the contracts and regulations contain subjective definitions of
the removal and remediation practices and criteria involved when the events occur; and iii) asset removal technologies and costs are constantly
changing, along with regulations, environmental, safety and public relations considerations. Additionally, abandonment costs are mostly
denominated in foreign currency, which may result in significant changes in the estimates due to changes in the exchange rates overtime.

The Company constantly conducts studies to incorporate
technologies and procedures to optimize the process of abandonment, considering industry best practices. However, the timing and amounts
of future cash flows are subject to significant uncertainty.

In the event of a total or partial sale of an interest
in Exploration and Production agreements, the company remains jointly and severally liable for decommissioning costs of areas after production
has ceased, if the purchaser fails to comply with this obligation, as determined by the ANP.

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