Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000660
Chunk: 23

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 23
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 not be
comparable to adjusted cash and cash equivalents of other companies, however management believes that it is an appropriate supplemental
measure to assess our liquidity and supports leverage management.

Adjusted EBITDA: Adjusted EBITDA (a non-GAAP measure defined as net income plus net finance income (expense); income taxes; depreciation,
depletion and amortization; results in equity-accounted investments; impairment of assets (reversals); results on disposal/write-offs
of assets, remeasurement of investment retained with loss of control and reclassification of CTA; and results from co-participation agreements
in bid areas).

Adjusted EBITDA margin: Adjusted EBITDA divided by sales revenues.

Average capital employed: quarterly average considering inventories, intangibles and fixed assets at historical exchange rates.

C

CAPEX – Capital Expenditure: investments that encompasses acquisition of property, plant, and equipment, including costs with
leasing, intangible assets, investments in subsidiaries and affiliates, costs with geology and geophysics and pre-operating costs.

E

Exploration & Production (E&P): The segment covers the exploration, development and production of crude oil, NGL and natural gas
in Brazil and abroad, with the main aim of supplying our domestic refineries. This segment also operates through partnerships with other
companies, including interests in foreign companies in this segment.

F

Free cash flow: Corresponds to operating cash flow minus acquisitions of property, plant and equipment, intangible assets and equity
interests. Free cash flow is not defined under the IFRS and should not be considered in isolation or as a substitute for cash and cash
equivalents calculated in accordance with IFRS. It may not be comparable to free cash flow of other companies, however management believes
that it is an appropriate supplemental measure to assess our liquidity and supports leverage management.

| PETROBRAS | Performance Report | 4Q24 | 41 |

Glossary

G

Gas & Low Carbon Energy (G&LCE): The segment covers the logistics and commercialization of natural gas and electricity,
the transportation and commercialization of LNG, the generation of electricity through thermoelectric plants, as well as the processing
of natural gas. It also includes renewable energy businesses, low carbon services (carbon capture, utilization and storage) and the production
of biodiesel and its products.

I

Investments:
Capital expenditures based on the cost assumptions and financial methodology adopted in our Strategic Plan, which include acquisition
of