Company: PBR
Filing Date: 2025-09-03
Form Type: 424B2
Source: 0001104659-25-086714
Chunk: 45

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-03
Form: 424B2
Chunk 45
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 to create or permit any lien,
other than a Petrobras permitted lien, on any of Petrobras’s assets to secure (i) any of its indebtedness; (ii) any of
the material subsidiary’s indebtedness or (iii) the indebtedness of any other person, unless Petrobras contemporaneously creates
or permits the lien to secure equally and ratably Petrobras’s obligations under the relevant guaranty and the relevant indenture
or Petrobras provides such other security for its obligations under the relevant guaranty and the relevant indenture as is duly approved
by a resolution of the holders of each series of the Notes in accordance with the indenture for such series.

As used in this “Negative
Pledge” section, the following terms have the respective meanings set forth below:

A “guaranty” means
an obligation of a person to pay the indebtedness of another person including without limitation:

| · | an obligation to pay or purchase such indebtedness; |

| · | an obligation to lend money, to purchase or subscribe                                                                            
 for shares or other securities or to purchase assets or services in order to provide funds for the payment of such indebtedness; |

| · | an indemnity against the consequences of a default 
 in the payment of such indebtedness; or            |

| · | any other agreement to be responsible for such 
 indebtedness.                                  |

<div align='center'>S-35</div>

“Indebtedness”
means any obligation (whether present or future, actual or contingent and including, without limitation, any guaranty) for the payment
or repayment of money which has been borrowed or raised (including money raised by acceptances and all leases which, under generally accepted
accounting principles in the country of incorporation of the relevant obligor, would constitute a capital lease obligation).

A “lien” means
any mortgage, pledge, lien, hypothecation, security interest or other charge or encumbrance on any property or asset including, without
limitation, any equivalent created or arising under applicable law.

A “project financing” of any project means the incurrence of indebtedness relating to the exploration, development, expansion, renovation, upgrade or other modification or construction of such project pursuant to which the providers of such indebtedness or any trustee or other intermediary on their behalf or beneficiaries designated by any such provider, trustee or other intermediary are granted security over one or more qualifying assets relating to such project for repayment of principal, premium and interest or any other amount