Company: PBR
Filing Date: 2025-05-28
Form Type: 6-K
Source: 0001292814-25-002246
Chunk: 8

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-05-28
Form: 6-K
Chunk 8
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| 11 |

Adjusted Cash and Cash Equivalents, Gross Debt, Net Debt, Net Cash provided by Operating Activities (LTM OCF), LTM Adjusted EBITDA, Gross Debt Net of Cash and Cash Equivalents/LTM OCF and Net Debt/LTM Adjusted EBITDA Metrics

The Net Debt/LTM Adjusted EBITDA metric is an important
metric that supports our management in assessing the liquidity and leverage of Petrobras Group. This ratio is an important measure for
management to assess the Company’s ability to pay off its debt, mainly because our Business Plan 2025-2029 defines US$ 75 billion
as the maximum level for our Gross Debt, with convergence to the level of US$ 65 billion.

The following table presents the reconciliation
of this metric to the most directly comparable measure derived from the IFRS Accounting Standards captions, which is in this case the
Gross Debt Net of Cash and Cash Equivalents/Net Cash provided by operating activities ratio:

|                                                                                                    | US$ million |            |
|                                                                                                    |  03.31.2025 | 12.31.2024 |
| Cash and cash equivalents                                                                          |       4,695 |      3,271 |
| Government bonds, bank deposit certificates and time deposits (maturity of more than three months) |       3,762 |      4,800 |
| Adjusted Cash and Cash equivalents                                                                 |       8,457 |      8,071 |
| Finance debt                                                                                       |      23,833 |     23,162 |
| Lease liability                                                                                    |      40,658 |     37,149 |
| Current and non-current debt - Gross Debt                                                          |      64,491 |     60,311 |
| Net Debt                                                                                           |      56,034 |     52,240 |
| Net cash provided by operating activities - LTM OCF                                                |      37,096 |     37,984 |
| Allowance for credit loss on trade and other receivables                                           |        -210 |       -260 |
| Trade and other receivables                                                                        |      -1,390 |     -1,822 |
| Inventories                                                                                        |          27 |        295 |
| Trade payables                                                                                     |         -40 |       -986 |
| Taxes payable                                                                                      |       8,218 |      9,895 |
| Others                                                                                             |