Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000664
Chunk: 87

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 87
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 Investment in publicly traded 
 associates                    |

Braskem S.A.

Braskem’s shares are publicly traded on stock
exchanges in Brazil and abroad. As of December 31, 2024, the quoted market value of the Company’s investment in Braskem was US$ 557
based on the quoted values of both Petrobras’ interest in Braskem’s common stock (47% of the outstanding shares), and preferred
stock (22% of the outstanding shares, see note 28.4). However, there is extremely limited trading of the common shares, since non-signatories
of the shareholders’ agreement hold only approximately 3% of the common shares.

Given the operational relationship between Petrobras
and Braskem, the recoverable amount of the investment for impairment testing purposes was determined based on value in use, considering
future cash flow projections and the manner in which the Company can derive value from this investment via dividends and other distributions
to arrive at its value in use. As the recoverable amount was higher than the carrying amount, no impairment losses were recognized for
this investment.

Cash flow projections to determine the value in
use of Braskem were based on estimated prices of feedstock and petrochemical products reflecting international trends on prices, petrochemical
products sales volume estimates reflecting projected Brazilian and global G.D.P. growth, post-tax discount rate (excluding inflation)
of 7.4% p.a., (WACC), and decreases in the EBITDA margin during the growth cycle of the petrochemical industry in the next years and increases
in the long-term. Estimated exchange rates and Brent prices are the same as those set out in note 25.1.

| 76 |

| INDEX |

| 26. | Exploration and evaluation of 
 oil and gas reserves          |

The exploration and evaluation activities include
the search for oil and gas reserves from the date of obtaining the legal rights to explore a specific area to the moment in which technical
and commercial feasibility to produce oil and gas are demonstrated.

Changes in the balances of capitalized costs directly
associated with exploratory wells pending determination of proved reserves and the balance of amounts paid for obtaining rights and concessions
for exploration of oil and natural gas (capitalized acquisition costs) are set out in the following table:

| Capitalized Exploratory Well Costs / Capitalized Acquisition Costs (1)                                   |  2024 |   2023 |
| Property plant and equipment                                                                             |       |        |
| Opening Balance