Company: PBR
Filing Date: 2025-05-13
Form Type: 6-K
Source: 0001292814-25-002053
Chunk: 43

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-05-13
Form: 6-K
Chunk 43
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3M (1)                                             |     |               511 |                 662 |
| SOFR 6M (1)                                             |     |               425 |                 504 |
| SOFR O/N (1)                                            |     |               806 |               1,128 |
| CDI                                                     |     |             2,967 |               4,153 |
| TR                                                      |     |                25 |                  35 |
| TJLP                                                    |     |               336 |                 470 |
| IPCA                                                    |     |               400 |                 560 |
|                                                         |     |             5,470 |               7,512 |
| (1) It represents the Secured Overnight Financing Rate. |     |                   |                     |

| 26.5 | Liquidity risk management |

The possibility of a shortage of cash to settle the Company’s
obligations on the agreed dates is managed by the Company. The Company mitigates its liquidity risk by defining reference parameters for
treasury management and by periodically analyzing the risks associated to the projected cash flow, quantifying its main risks through
Monte Carlo simulations. These risks include oil prices, exchange rates, gasoline and diesel international prices, among others. In this
way, the Company is able to predict cash needs for its operational continuity and for the execution of its strategic plan.

In this context, even these unaudited condensed interim financial
statements presenting a negative net working capital, management believes it does not compromise its liquidity.

Additionally, the Company maintains revolving credit facilities
contracted as a liquidity reserve to be used in adverse scenarios (see note 23.5). The Company regularly assesses market conditions and
may enter into transactions to repurchase its own securities or those of its subsidiaries, through a variety of means, including tender
offers, make whole exercises and open market repurchases, since they are in line with the Company's liability management strategy, in
order to improve its debt repayment profile and cost of debt.

The expected cash flows of finance debt and lease liabilities
are presented in notes 23.4 and 24, respectively.

| 26.6 | Credit risk |

Credit risk management in Petrobras aims to mitigate the risk
of not collecting receivables, financial deposits or collateral from third parties or financial institutions through the analysis, granting
and management of credit, based on quantitative and qualitative parameters that are appropriate for each market segment in which the Company
operates.

As of March