Company: PBR
Filing Date: 2025-09-05
Form Type: 424B2
Source: 0001104659-25-087755
Chunk: 32

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-05
Form: 424B2
Chunk 32
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 PGF’s obligations under performance bonds or surety bonds and appeal bonds or          
 similar obligations incurred in the ordinary course of business and consistent with PGF’s past practice; |

| (c) | lien arising in the ordinary course of business in connection with indebtedness maturing not more than                                
 one year after the date on which that indebtedness was originally incurred and which is related to the financing of export, import or 
 other trade transactions;                                                                                                             |

| (d) | lien granted upon or with respect to any assets hereafter acquired by PGF or any subsidiary to secure                                        
 the acquisition costs of those assets or to secure indebtedness incurred solely for the purpose of financing the acquisition of those        
 assets, including any lien existing at the time of the acquisition of those assets, so long as the maximum amount so secured does not        
 exceed the aggregate acquisition costs of all such assets or the aggregate indebtedness incurred solely for the acquisition of those assets, 
 as the case may be;                                                                                                                          |

| (e) | lien granted in connection with indebtedness of a wholly-owned subsidiary owing to PGF or another wholly-owned 
 subsidiary;                                                                                                    |

| (f) | lien existing on any asset or on any stock of any subsidiary prior to the acquisition thereof by PGF or 
 any subsidiary, so long as the lien is not created in anticipation of that acquisition;                 |

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| (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,