Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000664
Chunk: 129

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 129
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 flow, quantifying its main
risks through Monte Carlo simulations. These risks include oil prices, exchange rates, gasoline and diesel international prices, among
others. In this way, the Company is able to predict cash needs for its operational continuity and for the execution of its strategic plan.

Management believes that its current working capital
is sufficient for the Company's present requirements. In the event that the Company presents a negative net working capital, management
believes it does not compromise the Company's liquidity since Petrobras maintains revolving credit facilities contracted as a liquidity
reserve to be used in adverse scenarios (see note 30.5).

Additionally, the Company regularly assesses market
conditions and may enter into transactions to repurchase its own securities or those of its subsidiaries, through a variety of means,
including tender offers, make whole exercises and open market repurchases, since they are in line with the Company's liability management
strategy, in order to improve its debt repayment profile and cost of debt.

The expected cash flows from finance debt, lease
liabilities, post-employment benefits and decommissioning costs are presented in notes 30.4 and 31, 18.3.4 and 20, respectively.

| 33.6. | Credit risk |

Credit risk management in Petrobras aims to mitigate
risk of not collecting receivables, financial deposits or collateral from third parties or financial institutions through the analysis,
granting and management of credit, based on quantitative and qualitative parameters that are appropriate for each market segment in which
the Company operates.

The commercial credit portfolio is broad and diversified
and comprises clients from the domestic and foreign markets.

Credit granted to financial institutions is related
to collaterals received, cash surplus invested and derivative financial instruments. It is spread among “investment grade”
international banks rated by international rating agencies and Brazilian banks with low credit risk.

| 33.6.1. | Credit quality of financial assets |

| a) | Cash and cash equivalents and 
 marketable securities         |

The evaluation of the credit quality of these financial
assets is based on external credit ratings provided by Standard & Poor’s, Moody’s and Fitch, as follows:

| 105 |

| INDEX |

|                                          |            | Cash and cash equivalents |            | Marketable securities |
|                                          | 12.31.2024 |                12.31.2023 | 12.31.2024 |            12.31.2023 |
| Investment grade – global rating         |      1