Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 213

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 213
---
 shareholders, in all arbitrations to which we are a party.
 
Arbitration and Collective Action in Argentina
 In 2018, we were served with an arbitral claim filed by Consumidores Financieros Asociación Civil para su Defensa, currently named Consumidores Damnificados Asociación Civil, (the “Association”) against us and other individuals and legal entities, before the “Tribunal de Arbitraje General de la Bolsa de Comercio de Buenos Aires” (“Arbitral Tribunal”).

Annual Report and Form 20-F 2024 |

Among other issues, the Association alleged our liability for a supposed loss of market value of our shares in Argentina, due to proceedings related to Lava Jato.
 In June 2019, the Arbitral Tribunal decided that the arbitral claim should be considered withdrawn due to the lack of payment of the arbitral fee by the Association. The Association has filed appeals that were rejected by the court of appeals in November 2019. The Association has appealed to the Argentinian Supreme Court which denied the appeal, and the Association filed a new appeal to the Argentine Supreme Court, which was also denied. As a result, the arbitration was sent to the Arbitration Court. We are unable to provide a reliable estimate of the potential loss in this arbitration.
 At the same time, the Association also filed a class action before the Civil and Commercial Court of Buenos Aires, Argentina, against us, which we became aware of in April 2023. The Association claims Petrobras bears responsibility for an alleged loss of market value of its securities in Argentina, as a result of allegations made within the scope of the Lava Jato Operation and its effects on the company’s financial statements prior to 2015. After Petrobras presented its defense in August 2023, on May 14, 2024, the Court granted Petrobras’ request and ordered the commencement of a class certification incident. A decision regarding this matter is still pending and the other procedural and merit defenses raised by Petrobras will be examined at a later stage of the proceeding. We deny such allegations and will vigorously defend ourselves against the accusations made by the Association. We are unable to provide a reliable estimate of the potential loss in this proceeding.
 
Criminal Actions in Argentina
 We were accused of these two criminal actions in Argentina, as described below:
 
–                                               Criminal                                           
         action alleging non-compliance by us with the obligation to publish as “relevant fact”    
     in the Argentine market the