Company: PBR
Filing Date: 2025-09-03
Form Type: 424B2
Source: 0001104659-25-086714
Chunk: 145

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-03
Form: 424B2
Chunk 145
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 provide proper instructions and documentation in the case of direct registration ADSs, the depositary will, upon payment
of certain applicable fees, charges and taxes, deliver the underlying shares to you or upon your written order. Delivery of deposited
securities in certificated form will be made at the custodian’s office. At your risk, expense and request, the depositary may deliver
deposited securities at such other place as you may request.

The depositary may only restrict the withdrawal
of deposited securities in connection with the reasons set forth in General Instruction I.A.(1) of Form F-6 under the Securities
Act:

| · | temporary delays caused by closing Petrobras’ transfer books or those of the depositary or the deposit of shares in connection 
 with voting at a shareholders’ meeting, or the payment of dividends;                                                           |

| · | the payment of fees, taxes and similar charges; or |

| · | compliance with any U.S. or foreign laws or governmental regulations relating to the ADRs or to the withdrawal of deposited securities. |

This right of withdrawal may not be limited by
any other provision of the deposit agreements.

Record Dates

The depositary may, after consultation with Petrobras
if practicable, fix record dates (which, to the extent applicable, shall be as near as practicable to any corresponding record dates set
by us) for the determination of the ADR holders who will be entitled (or obligated, as the case may be):

| · | to receive any distribution on or in respect of deposited securities, |

| · | to give instructions for the exercise of voting rights, |

| · | to pay the fee assessed by the depositary for administration of the ADR program and for any expenses as provided for in the ADR, or |

| · | to receive any notice or to act or be obligated in respect of other matters, all subject to the provisions of the deposit agreements. |

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Voting Rights

How do I vote?

If you are an ADR holder and the depositary asks
you to provide it with voting instructions, you may instruct the depositary how to exercise the voting rights for the shares which underlie
your ADSs. As soon as practicable after receiving notice from Petrobras of any meeting at which the holders of shares are entitled to
vote, or of Petrobras’ solicitation of consents or proxies from holders of shares, the depositary shall fix the ADS record date
in