Company: PBR
Filing Date: 2025-05-28
Form Type: 6-K
Source: 0001292814-25-002246
Chunk: 4

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-05-28
Form: 6-K
Chunk 4
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 in Jan-Mar/2025 compared to US$ 3,273 million of expenses in Jan-Mar/2024), partially offset by lower gross profit (US$ 10,388
million in Jan-Mar/2025 compared to US$ 12,257 million in Jan-Mar/2024) and higher income tax expenses (US$ 3,111 million of
expenses in Jan-Mar/2025 compared to US$ 2,147 million of expenses in Jan-Mar/2024).

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CAPITAL EXPENDITURES (CAPEX)

| CAPEX (US$ million)                    | Jan-Mar/2025 | Jan-Mar/2024 | Change (%) |
| Exploration and Production             |        3,502 |        2,472 |       41.7 |
| Refining, Transportation and Marketing |          405 |          362 |       11.9 |
| Gas and Low Carbon Energies            |           55 |          108 |      -49.1 |
| Corporate and Other businesses         |          104 |          101 |        3.0 |
| Total                                  |        4,066 |        3,043 |       33.6 |

In line with our Business Plan, our Capital Expenditures
were primarily directed toward investment projects which Management believes are most profitable, relating to oil and gas production.

In Jan-Mar/2025, Capital Expenditures in the E&P
segment totaled US$ 3,502 million, representing 86.1% of the CAPEX of the Company, a 41.7% increase when compared to US$ 2,472
million in Jan-Mar/2024, mainly due to the development of large projects in the pre-salt layer of the Santos Basin, especially in the
Búzios and Atapu Fields. CAPEX in Jan-Mar/2025 were mainly concentrated on: (i) the development of production in the pre-salt
layer of the Santos Basin (US$ 2.0 billion); (ii) the development of production in the pre-salt and post-salt layers of the Campos
Basin (US$ 2.1 billion); and (iii) exploratory investments (US$ 0.3 billion).

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LIQUIDITY AND CAPITAL RESOURCES

| US$ million                                                                                                                            | Jan-Mar/2025 | Jan-Mar/2024 |
| Adjusted Cash and Cash