Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000670
Chunk: 153

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 153
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urchase transactions of its securities or those of its subsidiaries in the international capital market, by various means, including
repurchase offers, redemptions of securities and/or open market transactions, provided that they are in line with the company's liability
management strategy, which aims to improve the amortization profile and cost of debt.

The expected cash flows from finance debt, lease liabilities,
post-employment benefits and decommissioning costs are presented in notes 30.4 and 31, 18.3.4 and 20, respectively.

| 33.6. | Credit risk management |

The credit risk management policy aims to minimize the possibility
of not receiving sales made and amounts invested, deposited or guaranteed by financial institutions and counterparties, through analysis,
granting and management of credits, using quantitative and qualitative parameters appropriate to each one of the market segments in which
it operates.

The commercial credit portfolio is quite diversified between
clients from the country's domestic market and foreign markets.

Credit granted to financial institutions is used to accept
guarantees, apply cash surpluses and define counterparties in derivative operations, being distributed among the main international banks
classified as “investment grade” by the main international risk classifiers and Brazilian banks with a minimum risk rating
brA-/A3.br/A-(bra).

| 33.6.1. | Credit quality of financial assets |

| a) | Cash and cash equivalents and marketable securities |

The evaluation of the credit quality of these financial assets
is based on external credit ratings provided by Standard & Poor’s, Moody’s and Fitch, as follows:

| 106 |

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

Consolidated

|                                  |            | Cash and cash equivalents |            | Marketable securities |
|                                  | 12.31.2024 |                12.31.2023 | 12.31.2024 |            12.31.2023 |
| Investment grade – global rating |      8,752 |                    36,320 |     11,609 |                 5,398 |
| AA                               |      1,950 |                     2,871 |      5,422 |                 3,150 |
| A                                |      6,800 |                    33,350 |      6,187 |                 2,248 |
| BBB                              |          2 |                        99 |