Company: PBR
Filing Date: 2025-08-08
Form Type: 6-K
Source: 0001292814-25-002980
Chunk: 8

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-08-08
Form: 6-K
Chunk 8
---
 Adjusted cash and cash equivalents at the end of period                                                                                                                                                                                                      |  9,501 |  8,457 |  13,470 |  9,501 |  13,470 |
| Reconciliation of Free Cash Flow                                                                                                                                                                                                                             |        |        |         |        |         |
| Net cash provided by operating activities                                                                                                                                                                                                                    |  7,531 |  8,498 |   9,087 | 16,029 |  18,473 |
| Acquisition of PP&E and intangible assets                                                                                                                                                                                                                    | -4,084 | -3,962 |  -2,934 | -8,046 |  -5,772 |
| Acquisition of equity interests                                                                                                                                                                                                                              |     -2 |      − |      -5 |     -2 |      -6 |
| Free cash flow (*)                                                                                                                                                                                                                                           |  3,445 |  4,536 |   6,148 |  7,981 |  12,695 |
| (*) Free cash flow (FCF) is in accordance with the new Shareholder Remuneration Policy (“Policy”) approved on 07/28/2023 and corresponds to operating cash flow minus acquisitions of property, plant and equipment, intangible assets and equity interests. |        |        |         |        |         |

| Performance Report 2Q25 I 12 |

As of June 30, 2025, cash and
cash equivalents totaled US$ 7.0 billion, while adjusted cash and cash equivalents totaled US$ 9.5 billion.

In 2Q25, funds generated by
operating activities reached US$ 7.5 billion and free cash flow was positive at US$ 3.4 billion. Additionally, during the period, the
Company borrowed US$ 2.6 billion.

The decrease in operating cash
flow in 2Q25 compared to 1Q25 is mainly explained by: (i) the absence, in 2Q25, of the PIS/COFINS tax credits used in 1Q25 arising from
the adherence to the tax program in 2024; (ii) higher operating expenses, particularly selling expenses, due to the increase in oil export
volumes; and (iii) disbursements related to the variable compensation program — traditionally settled in the second quarter, after
the approval of the financial statements at the Annual Shareholders Meeting. These impacts were partially offset by lower Income Tax