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

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-03
Form: 424B2
Chunk 25
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 competent jurisdiction, directing PGF or Petrobras or any material subsidiary’s winding-up, dissolution     
 or liquidation, except for the purpose of and followed by a consolidation, merger, conveyance or transfer duly approved by the note holders 
 of that series.                                                                                                                             |

| · | Any event occurs that under the laws of any relevant                                                                  
 jurisdiction has substantially the same effect as the events referred to in the six immediately preceding paragraphs. |

| · | The Notes of such series, the relevant indenture,                                                                                              
 the relevant guaranty or any part of those documents cease to be in full force and effect or binding and enforceable against PGF or Petrobras, 
 or it becomes unlawful for PGF or Petrobras to perform any material obligation under any of the foregoing documents to which it is a party.    |

| · | PGF or Petrobras contests the enforceability                                                                                             
 of the Notes of such series, the relevant indenture or the relevant guaranty, or denies that it has liability under any of the foregoing 
 documents to which it is a party.                                                                                                        |

| · | Petrobras fails to retain at least 51% direct                                                               
 or indirect ownership of the outstanding voting and economic interests (equity or otherwise) of and in PGF. |

For purposes of the events
of default:

| · | “indebtedness” means any obligation                                                                                                           
 (whether present or future, actual or contingent and including any guaranty) for the payment or repayment of money which has been borrowed    
 or raised (including money raised by acceptances and all leases which, under IFRS Accounting Standards, would be a capital lease obligation). |

| · | “material subsidiary” means, as to                                                                                                 
 any person, any subsidiary of such person which, on any given date of determination accounts for more than 15% of such person’s    
 total consolidated assets (as set forth on such person’s most recent consolidated financial statements prepared in accordance with 
 IFRS Accounting Standards).                                                                                                        |

Covenants

PGF will be subject to the
following covenants with respect to the Notes of each series:

<div align='center'>S-23</div>

Payment of Principal and Interest

PGF will duly and punctually
pay the principal of and any premium and interest and other amounts (including any additional amounts in the event withholding and other
taxes are imposed in Brazil or the jurisdiction of incorporation of PGF) on the Notes in accordance with the Notes and the