Company: PBR
Filing Date: 2025-09-03
Form Type: 424B2
Source: 0001104659-25-086714
Chunk: 34

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-03
Form: 424B2
Chunk 34
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F or 
 any subsidiary, so long as the lien is not created in anticipation of that acquisition;                 |

<div align='center'>S-28</div>

| (g) | lien existing as of the date of the original issuance of the Notes of each series; |

| (h) | lien resulting from the indenture or the guaranty of each series, if any; |

| (i) | lien incurred in connection with the issuance of debt or similar securities of a type comparable to those                                      
 already issued by PGF, on amounts of cash or cash equivalents on deposit in any reserve or similar account to pay interest on those securities 
 for a period of up to 24 months as required by any rating agency as a condition to the rating agency rating those securities as investment     
 grade;                                                                                                                                         |

| (j) | lien granted or incurred to secure any extension, renewal, refinancing, refunding or exchange (or successive                            
 extensions, renewals, refinancings, refundings or exchanges), in whole or in part, of or for any indebtedness secured by liens referred 
 to in paragraphs (a) through (i) above (but not paragraph (c)), so long as the lien does not extend to any other property, the          
 principal amount of the indebtedness secured by the lien is not increased, and in the case of paragraphs (a), (b) and (f), the obligees 
 meet the requirements of the applicable paragraph; and                                                                                  |

| (k) | lien in respect of indebtedness the principal amount of which in                                                                         
 the aggregate, together with all other liens not otherwise qualifying as PGF permitted liens pursuant to another part of this definition 
 of PGF permitted liens, does not exceed 20% of PGF’s consolidated total assets (as determined in accordance with IFRS Accounting         
 Standards) at any date as at which PGF’s balance sheet is prepared and published in accordance with applicable law.                      |

A “wholly-owned subsidiary”
means, with respect to any corporate entity, any person of which 100% of the outstanding capital stock (other than qualifying shares,
if any) having by its terms ordinary voting power (not dependent on the happening of a contingency) to elect the board of directors (or
equivalent controlling governing body) of that person, is at the time owned or controlled directly or indirectly by that corporate entity,
by one or more wholly-owned subsidiaries of that corporate entity or by that corporate entity and one or more