Company: PBR
Filing Date: 2025-08-22
Form Type: 6-K
Source: 0001292814-25-003142
Chunk: 14

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-08-22
Form: 6-K
Chunk 14
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 in Shareholders’ Equity
and will be transferred to profit or loss on the disposal of the investment.

Effect of average cost in the Cost of Sales
– In view of the average inventory term of 60 days, the crude oil and oil products international prices movement, as well as foreign
exchange effect over imports, production taxes and other factors that impact costs, do not entirely influence the cost of sales in the
current period, having their total effects only in the following period.

Free Cash Flow - Net cash provided by operating
activities less the sum of acquisition of PP&E and intangibles assets and acquisition of equity interests. Free cash flow is not defined
under the IFRS Accounting Standards and should not be considered in isolation or as a substitute for cash and cash equivalents calculated
in accordance with IFRS Accounting Standards. 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.

Gross Debt – Sum of current and non-current
finance debt and lease liability, this measure is not defined under the IFRS Accounting Standards.

Leverage –Ratio between the Net Debt and the sum
of Net Debt and Market Capitalization. Leverage is not a measure defined in the IFRS Accounting Standards and it is possible that it may
not be comparable to similar measures reported by other companies, however management believes that it is an appropriate supplemental
measure to assess our liquidity.

Lifting Cost - Crude oil and natural gas lifting cost
indicator, which considers expenditures occurred in the period.

LTM Adjusted EBITDA – Adjusted EBITDA for the last
twelve months.

OCF -Net Cash provided by (used in) operating activities
(operating cash flow)

Operating income (loss) -Net income (loss) before finance
(expense) income, results in equity-accounted investments and income taxes.

Net Debt –Gross Debt less Adjusted Cash and Cash
Equivalents. Net Debt is not a measure defined in the IFRS Accounting Standards and should not be considered in isolation or as a substitute
for total long-term debt calculated in accordance with the IFRS Accounting Standards. Our calculation of Net Debt may not be comparable
to the calculation of Net Debt by other companies. Management believes that Net Debt is an appropriate supplemental measure that helps
investors assess our liquidity and supports leverage management.

Results by Business Segment – The information
by the company's business segment is