Company: PBR
Filing Date: 2025-11-28
Form Type: 6-K
Source: 0001292814-25-004085
Chunk: 7

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-11-28
Form: 6-K
Chunk 7
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 in investments to adapt to different scenarios 27 Portfolio Under Implementation US$billion Notes:
-Sanctioned projects contemplate approximately US$ 5 billion/year in current investments, which are aimed at maintaining and operating
existing assets, without increasing production capacity, encompassing maintenance, replacements, legal adjustments, and support projects.
Expected distribution of cash investment for the Implementation Base Portfolio, in USD billion: 16.6 (2026), 15.8 (2027), 15.2 (2028),
10.0 (2029), and 8.4 (2030). -Main sanctioned Implementation Base Projects: Búzios6 to 11, Atapu2, Sépia2, Raia, Manta and
Pintada, Boaventura Refinery, and RNEST Train 2. -Main unsanctioned Implementation Base projects: Seap2, UFN-III, and Ethanol. % of sanctioned
projects in Implementation Target Portfolio 19.4 21.0 20.5 16.1 14.3 19.1 19.6 18.4 13.1 10.7 2026 2027 2028 2029 2030 Implementation
Target(US$ 91 billion) Implementation Base(US$ 81 billion) 93% 85% 75% 60% 46% Mainsanctioned projects generate more than US$ 12 billion
in free cash flow by 2030 28 IMPLEMENTATION BASE IMPLEMENTATION TARGET TOTAL 109 bn 91 bn 81 bn 28 Our portfolio of opportunities amounts
to US$ 109 billion: US$ 81 billion Projects with budgets approved in the plan, even if not yet sanctioned. US$ 10 billion Projects amounting
to US$ 10 billion will have their financial viability assessed quarterly according to the company's cash flow projections and capital
structure, and submitted for approvalsfollowing the governance of projects1. US$ 18 billion Opportunities under evaluation Governance
for assessing new projects and financial viability 1Note: Capital investment projects are approved only when they are expected to have
positive NPVs in all three corporate scenarios. Exploratory projects (including participation in bid rounds), current investments (e.g.,
maintenance), as well as partnerships, acquisitions, and divestments follow specific approval processes. 29 Major pre-salt projects: focus
on Execution with cost reduction 29 Project Nominal