Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000664
Chunk: 112

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 112
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 December 31, 2024, this reserve referring
to a subsidy incentive for investments, granted by the Superintendencies for Development of the Northeast Region of Brazil (SUDENE) and
of the Amazon (SUDAM).

Profit retention reserve

It includes funds intended for capital expenditures,
primarily in oil and gas exploration and development activities, as per the capital budget of the Company, pursuant to article 196 of
the Brazilian Corporation Law.

| 32.4.2. | Distributions to shareholders |

Distributions to shareholders are made by means
of dividends, interest capital and share repurchases based on the limits defined in the Brazilian Corporation Law, in the Company’s
bylaws and in the shareholders remuneration policy.

| 94 |

| INDEX |

Pursuant to Brazilian Corporation Law, the Company’s
shareholders are entitled to receive minimum mandatory dividends (and/or interest on capital) of 25% of the adjusted net income for the
year in proportion to the number of common and preferred shares held by them.

To the extent the Company proposes dividend distributions,
preferred shares have priority in dividend distribution, which is based on the highest of 3% of the preferred shares’ net book value
or 5% of the preferred share capital. Preferred shares participate under the same terms as common shares in capital increases resulting
from the capitalization of profit reserves or retained earnings. However, this priority does not necessarily grant dividend distributions
to the preferred shareholders in the event of loss for a year.

The payment of dividends may be made only to preferred
shareholders if the priority dividends absorb all the adjusted net income for the year or reach an amount equal to or greater than the
mandatory minimum dividend of 25%.

| a) | Shareholders Remuneration Policy |

The Company’s policy on distributions to
shareholders, approved by the Company’s Board of Directors on July 28, 2023, defines the following:

| · | minimum distribution of US$ 4,000 for fiscal years                                                                                        
 when the average Brent price exceeds US$ 40 per barrel, which shall be distributed regardless of its level of indebtedness, provided that 
 the parameters set forth in the policy are observed. This distribution will be equal to both common and preferred shares, once it exceeds 
 the minimum value for preferred shares provided for in the Company's bylaws;                                                              |

| · | in the event of gross debt (comprising current and                                                                                      
 non-current finance debt and lease liability) equal to or less