Company: PBR
Filing Date: 2025-09-03
Form Type: 424B2
Source: 0001104659-25-086714
Chunk: 19

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-03
Form: 424B2
Chunk 19
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 This line is equivalent to “income before net finance expense, results of equity-accounted investments and income taxes” derived from our audited consolidated financial statements.                                                                                                                                                                       |
| (3) | Shareholders refer to Petrobras shareholders and do not include the noncontrolling shareholders.                                                                                                                                                                                                                                                           |
| (4) | The total number of shares does not include shares in treasury.                                                                                                                                                                                                                                                                                            |
| (5) | The ratio of ADS to Petrobras’s common and preferred shares is two shares to one ADS.                                                                                                                                                                                                                                                                      |
| (6) | Interest on capital and/or dividends proposed for the periods. Amounts were based on the exchange rate prevailing at the date of the approval by Petrobras’s board of directors, except for minimum mandatory dividends, which is based on the closing exchange rate on the date that Petrobras’s audited consolidated financial statements were released. |

<div align='center'>S-18

CAPITALIZATION</div>

The following table sets out
the consolidated debt (current and non-current lease liability and finance debt) and capitalization of Petrobras as of June 30, 2025
(i) on an actual basis, which have been derived from Petrobras’s unaudited condensed consolidated interim financial statements
and (ii) as adjusted to give effect to the net proceeds from the issuance of the Notes offered hereby (including the underwriting
discount indicated on the cover page of this prospectus supplement), but without giving effect to the application of net cash proceeds
of this offering.

|                       |     | As of June 30, 2025 |         |     |                |
|:----------------------|:----|:--------------------|--------:|:----|:---------------|
|                       |     | Actual              |         |     | As Adjusted(1) |
|                       |     | -U.S.$ million      |         |     |                |
| Lease Liability:      |     |                     |         |     |                |
| Current portion       |     |                     |   9,270 |     |                |
| Non-current portion   |     |                     |  33,003 |     |                |
| Total lease liability |     |                     |  42,273 |     |                |
| Finance debt:         |     |                     |         |     |                |
| Current portion       |     |                     |   2,475 |     |                |
| Non-current           
 portion(1)            |     |                     |  23