Company: PBR
Filing Date: 2025-11-07
Form Type: 6-K
Source: 0001292814-25-003845
Chunk: 54

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-11-07
Form: 6-K
Chunk 54
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ional value in thousands of bbl.                                      |            |                 |                            |            |                      |              |
| (3) Notional value in thousands of tons (PBIO operations).                   |            |                 |                            |            |                      |              |

Commercial derivatives require guarantees, accounted
for as other assets and/or other liabilities:

| Consolidated                              
 Guarantees given (received) as collateral |            |            |
|                                           | 09.30.2025 | 12.31.2024 |
| Commodity derivatives                     |        152 |        426 |

Equity

| Consolidated                                 
 Cumulative losses in other comprehensive     
 income (shareholders’ equity)                |            |            |
|                                              | 09.30.2025 | 12.31.2024 |
| Hedge accounting                             |            |            |
| Cash flow hedge on exports - Note 26.4.1 (a) |    -30,855 |    -98,094 |
| Deferred income taxes                        |     10,492 |     33,353 |
| Total                                        |    -20,363 |    -64,741 |

| 26.4 | Market risks |

| 26.4.1 | Foreign exchange risk management |

| a) | Cash flow hedge involving the Company’s future exports |

The Company uses hedge accounting for the risk
arising from exchange rate variations of “highly probable future exports” (hedged item) by means of foreign exchange rate
variations of proportions of certain obligations denominated in U.S. dollars (hedging instruments).

The carrying amounts, the fair value as of September
30, 2025, and a schedule of expected reclassifications to the statement of income of cumulative losses recognized in other comprehensive
income (shareholders’ equity) based on a US$ 1.00 / R$ 5.3186 exchange rate are set out below:

|                                                                                                    |                                                                                      | Present value of hedging instrument 
 notional value at                   
 09.30.2025                          |                      |             |         |
| Hedging Instrument                                                                                 | Hedged Transactions                                                                  | Nature                              
 of the Risk                         | Maturity             
 Date                 | US$ million |      R$ |
| Foreign exchange gains and losses on proportion of non-derivative financial instruments cash flows | Foreign exchange gains and losses of highly probable future monthly exports revenues | Foreign Currency                    
 – Real vs U.S. Dollar               
 Spot Rate                           | Oct/