Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000664
Chunk: 123

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 123
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 – Real vs U.S. Dollar                        
 Spot Rate                                    | January 2025 to December 2034 |      65,900 |    408,073 |

| Changes in the present value of hedging instrument notional value                                       | US$ million | R$ million |
| Amounts designated as of December 31, 2023                                                              |      65,138 |    315,350 |
| Additional hedging relationships designated, designations revoked and hedging instruments re-designated |      18,993 |    104,302 |
| Exports affecting the statement of income                                                               |      -9,767 |    -52,126 |
| Principal repayments / amortization                                                                     |      -8,464 |    -46,114 |
| Foreign exchange variation                                                                              |           - |     86,661 |
| Amounts designated as of December 31, 2024                                                              |      65,900 |    408,073 |
| Nominal value of hedging instrument (finance debt and lease liability) at December 31, 2024             |      84,690 |    524,425 |

In 2024, the Company recognized a US$ 208
loss within foreign exchange gains (losses) due to ineffectiveness (a US$ 172 gain in the same period of 2023).

| 101 |

| INDEX |

The average ratio of future exports for which cash
flow hedge accounting was designated to the highly probable future exports is 69.11%.

A roll-forward schedule of cumulative foreign exchange
losses recognized in equity to be realized by future exports is set out below:

|                                         |    2024 |    2023 |
| Opening balance                         | -18,210 | -26,527 |
| Recognized in equity                    | -15,627 |   4,554 |
| Reclassified to the statement of income |   2,992 |   3,763 |
| Other comprehensive income (loss)       | -12,635 |   8,317 |
| Closing balance                         | -30,845 | -18,210 |

Additional hedging relationships may be revoked
or additional reclassification adjustments from equity to the statement of income may occur as a result of changes in forecasted export
prices and export volumes following future revisions of the Company’s business plans. Based on a sensitivity analysis considering
a US$ 10/barrel decrease in Brent prices stress scenario, when compared