Company: PBR
Filing Date: 2025-09-05
Form Type: 424B2
Source: 0001104659-25-087755
Chunk: 120

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-05
Form: 424B2
Chunk 120
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 dates.                                     |

| · | We must deliver to the trustee a legal opinion of our counsel, based upon a ruling by the U.S. Internal Revenue Service or upon a        
 change in applicable U.S. federal income tax law, confirming that under then current U.S. federal income tax law we may make the above   
 deposit without causing you to be taxed on such debt securities any differently than if we did not make the deposit and just repaid such 
 debt securities ourselves.                                                                                                               |

If we ever did accomplish full defeasance as described
above, you would have to rely solely on the trust deposit for repayment on the debt securities. You could not look to us for repayment
in the unlikely event of any shortfall. Conversely, the trust deposit would most likely be protected from claims of our lenders and other
creditors if we ever become bankrupt or insolvent. However, even if we take these actions, a number of our obligations relating to the
debt securities will remain. These include the following obligations:

| · | to register the transfer and exchange of debt securities; |

| · | to replace mutilated, destroyed, lost or stolen debt securities; |

| · | to maintain paying agencies; |

| · | to hold money for payment in trust; and |

| · | to indemnify the trustee according to the terms of the indenture. |

Covenant Defeasance

If the applicable prospectus supplement states
that covenant defeasance will apply to a particular series of debt securities, we can make the same type of deposit described above and
be released from all or some of the restrictive covenants (if any) that apply to such debt securities. This is called “covenant
defeasance.” In that event, you would lose the protection of those restrictive covenants but would gain the protection of having
money and securities set aside in trust to repay the debt securities. In order to achieve covenant defeasance, we must do the following:

| · | We must irrevocably deposit in trust for your benefit and the benefit of all other direct holders of such debt securities a combination       
 of money and non-callable U.S. government or U.S. government agency debt securities or bonds that, in the opinion of a nationally recognized  
 firm of independent accountants, will generate enough cash without reinvestment to make interest, principal and any other payments, including 
 additional amounts, on such debt securities on their various due dates.                                                                       |

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