Company: PBR
Filing Date: 2025-05-13
Form Type: 6-K
Source: 0001292814-25-002051
Chunk: 35

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-05-13
Form: 6-K
Chunk 35
---
 additional reclassification adjustments from equity to the statement of income may occur as a result of changes in forecasted export
prices and export volumes following future revisions of the Company’s business plans. Based on a sensitivity analysis considering
a US$ 10/barrel decrease in Brent prices stress scenario, when compared to the Brent price projections in the Business Plan 2025-2029,
would not indicate a reclassification from equity to the statement of income.

A schedule of expected reclassification of cumulative
foreign exchange rate losses recognized in other comprehensive income to the statement of income as of March 31, 2025, is set out below:

|                      |   2025 |   2026 |   2027 |   2028 |   2029 | 2030 onwards |   Total |
| Expected realization | -3,777 | -5,260 | -5,488 | -4,016 | -3,348 |       -3,382 | -25,271 |

| b) | Derivative financial instruments    
 not designated for hedge accounting |

In September 2019, Petrobras contracted a cross-currency
swap aiming to protect against exposure arising from the 7th issuance of debentures, for IPCA x CDI operations, maturing in September
2029 and September 2034, and for CDI x U.S. Dollar operations, maturing in September 2024 and September 2029. In September 2024, the notional
amount of the matured cross-currency swap was US$ 241.

The methodology used to calculate the fair value
of this swap operation consists of calculating the future value of the operations, using rates agreed in each contract and the projections
of the interest rate curves, IPCA coupon and foreign exchange coupon, discounting to present value using the risk-free rate. Curves are
obtained from Bloomberg based on forward contracts traded in stock exchanges.

The mark-to-market is adjusted to the credit risk
of the financial institutions, which is not relevant in terms of financial volume, since the Company makes contracts with highly rated
banks.

Changes in interest rate forward curves (CDI interest
rate) may affect the Company's results, due to the market value of these swap contracts. In preparing a sensitivity analysis for these
curves, a parallel shock was estimated based on the average maturity of these swap contracts, in the scope of the Company’s Risk
Management Policy, which resulted in a 594 basis point effect on