Company: PBR
Filing Date: 2025-05-28
Form Type: 6-K
Source: 0001292814-25-002246
Chunk: 9

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-05-28
Form: 6-K
Chunk 9
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 -4,983 |     -4,707 |
| LTM Adjusted EBITDA                                                                                |      38,718 |     40,399 |
| Gross Debt net of cash and cash equivalents/LTM OCF ratio                                          |        1.61 |       1.50 |
| Net Debt/LTM Adjusted EBITDA ratio                                                                 |        1.45 |       1.29 |

| 12 |

RESULTS BY OPERATING BUSINESS SEGMENTS

Exploration and Production (E&P)

Financial information

| US$ million                                              | Jan-Mar/2025 | Jan-Mar/2024 | Change (%) |
| Sales revenues                                           |       15,067 |       16,077 |       -6.3 |
| Gross profit                                             |        8,270 |        9,463 |      -12.6 |
| Income (Expenses)                                        |         -738 |         -630 |       17.1 |
| Operating income                                         |        7,532 |        8,833 |      -14.7 |
| Net income attributable to the shareholders of Petrobras |        4,987 |        5,846 |      -14.7 |
| Average Brent crude (US$/bbl)                            |        75.66 |        83.24 |       -9.1 |
| Production taxes – Brazil                                |        2,800 |        2,981 |       -6.1 |
| Royalties                                                |        1,805 |        1,871 |       -3.5 |
| Special Participation                                    |          987 |        1,101 |      -10.4 |
| Retention of areas                                       |            8 |            9 |      -11.1 |

[1]

In the period Jan-Mar/2025, the gross profit for
the E&P segment was US$ 8,270 million, a decrease of 12.6% compared to the period Jan-Mar/2024, mainly due to the reduction in
sales revenues which reflect lower Brent prices, in addition to decreased crude oil and NGL production.

Operating income was US$ 7,532 million
in the Jan-Mar/2025 period, a decrease of 14.7% compared to the period Jan-Mar/2024, mainly due to exploration expenditures written off
related to blocks C-M-753 and C-M-789 in the Campos Basin, reflecting the assessment of the