Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000670
Chunk: 133

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 133
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The sensitivity analysis of financial instruments
subject to exchange variation is presented in note 33.4.1.

Accounting policy for lease liabilities

Lease liabilities, including those whose underlying
assets are of low value, are measured at the present value of lease payments, which includes recoverable taxes, non-cancellable periods
and options to extend a lease when they are reasonably certain.

| 93 |

| NOTES TO THE FINANCIAL STATEMENTSPETROBRAS(In millions of reais, unless otherwise indicated) |

These payments are discounted at the Company's
nominal incremental rate on loans, as the interest rates implicit in lease agreements with third parties usually cannot be readily determined.

Lease remeasurements reflect changes arising from
contractual rates or indexes, as well as lease terms due to new expectations of lease extensions or terminations.

Unwinding of discount on the lease liability is
classified as finance expense, while payments reduce their carrying amount. According to the Company’s foreign exchange risk management,
foreign exchange variations on lease liabilities denominated in U.S. dollars are designated as instruments to protect cash flow hedge
relationships from highly probable future exports (see note 35.2.2).

In the E&P segment, some activities are conducted
by joint operations with partner companies where the Company is the operator. In cases where all parties to the joint operation are primarily
responsible for the lease payments, the Company recognizes the lease liability in proportion to its share. When using underlying assets
arising from a specific contract in which the Company is solely responsible for the lease payments, the lease liabilities remain fully
recognized and the partners are charged in proportion to their interests.

Payments associated with short-term leases (term of 12 months
or less) are recognized as an expense over the term of the lease.

| 32. | Equity |

| 32.1. | Share capital (net of share issuance costs) |

On December 31, 2024 and 2023, subscribed and fully paid share
capital in the amount of R$ 205,432 is represented by 13,044,496,930 shares, of which R$ 117,208 referring to 7,442,454,142 common shares
and R$ 88,224 referring to 5,602,042,788 preferred shares, all nominative, book-entry and without par value. Preferred shares have priority
in the case of capital reimbursement, do not guarantee voting rights and are not convertible into common shares.