Company: PBR
Filing Date: 2025-09-05
Form Type: 424B2
Source: 0001104659-25-087755
Chunk: 75

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-05
Form: 424B2
Chunk 75
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 are subject to income tax, according
to Law No. 10,833, enacted on December 29, 2003. Since the Notes will be issued by a legal entity incorporated outside of Brazil
and registered abroad, the Notes should not fall within the definition of assets located in Brazil for purposes of Law No. 10,833,
gains realized on the sale or other disposition of the Notes made outside Brazil by a Non-Resident holder to another Non-Resident should
not be subject to Brazilian taxes. However, considering the general and unclear scope of this legislation and the absence of judicial
guidance in respect thereof, we cannot assure prospective investors that such interpretation of this law will prevail in the courts of
Brazil. If the income tax is deemed to be due, the gains may be subject to income tax in Brazil, effective as from January 1, 2017,
(as confirmed by Declaratory Act No. 3, of April 27, 2016), at progressive rates as follows: (i) 15% for the part of the
gain that does not exceed R$5 million, (ii) 17.5% for the part of the gain that exceeds R$5 million but does not exceed R$10 million,
(iii) 20% for the part of the gain that exceeds R$10 million but does not exceed R$30 million and (iv) 22.5% for the part of
the gain that exceeds R$30 million; or 25.0% if such Non-Resident holder is located in a Low or Nil Tax Jurisdiction as it will be further
detailed below. A lower rate, however, may apply under an applicable tax treaty between Brazil and the country where the Non-Resident
holder has its domicile.

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Payments Made by Petrobras as Guarantor

In the event the issuer fails
to timely pay any due amount, including any payment of principal, interest or any other amount that may be due and payable in respect
of the Notes, the guarantor will be required to assume the obligation to pay such due amounts. As there is no specific legal provision
dealing with the imposition of withholding income tax on payments made by Brazilian sources to Non-Resident beneficiaries under guarantees
and no uniform decision from the Brazilian courts, there is a risk that tax authorities will take the position that the funds remitted
by the guarantor to the Non-