Company: PBR
Filing Date: 2025-05-13
Form Type: 6-K
Source: 0001292814-25-002053
Chunk: 38

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-05-13
Form: 6-K
Chunk 38
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108 | Level 2              |    2029/2034 |
| Price risk                                                                     |            |                 |                            |            |                      |              |
| Future contracts – crude oil and oil products (2)                              |       -201 |          -1,450 |                         31 |        -83 | Level 1              |         2025 |
| Swap – Soybean oil (3)                                                         |          − |               − |                          1 |          − | Level 2              |         2025 |
| Total open derivative transactions                                             |            |                 |                       -244 |       -624 |                      |              |
| (1) Amounts in U.S. dollars representes millions of the respective currencies. |            |                 |                            |            |                      |              |
| (2) Notional value in thousands of bbl.                                        |            |                 |                            |            |                      |              |
| (3) Notional value in thousands of tons (PBIO operations).                     |            |                 |                            |            |                      |              |

Commercial derivatives require guarantees, accounted for as
other assets and/or other liabilities.

| Consolidated                              
 Guarantees given (received) as collateral |            |            |
|                                           | 03.31.2025 | 12.31.2024 |
| Commodity derivatives                     |        229 |        426 |

Equity

| Consolidated                                 
 Cumulative losses in other comprehensive     
 income (shareholders’ equity)                |            |            |
|                                              | 03.31.2025 | 12.31.2024 |
| Hedge accounting                             |            |            |
| Cash flow hedge on exports - Note 26.4.1 (a) |    -64,926 |    -98,094 |
| Deferred income taxes                        |     22,076 |     33,353 |
| Total                                        |    -42,850 |    -64,741 |

| 26.4 | Market risks |

| 26.4.1 | Foreign exchange risk management |

| a) | Cash flow hedge involving the Company’s future exports |

The Company uses hedge accounting for the risk arising from
exchange rate variations of “highly probable future exports” (hedged item) by means of foreign exchange rate variations of
proportions of certain obligations denominated in U.S. dollars (hedging instruments).

The carrying amounts, the fair value as of March 31, 202