Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 239

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 239
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 the Dutch Withholding Tax Act 2021, an entity is considered a related entity in respect of PGF if:
 
–                                such                             
    entity has a Qualifying Interest (as defined below) in PGF; or
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–                       PGF                     
    has a Qualifying Interest in such entity; or
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Annual Report and Form 20-F 2024 |

–                                   a                                 
    third party has a Qualifying Interest in both PGF and such entity.
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 The term "Qualifying Interest" means a direct or indirectly held interest – either by an entity individually or jointly if an entity is part of a collaborating group (samenwerkende groep) – that enables such entity or such collaborating group to exercise a definite influence over another entity's decisions, such as PGF decisions, and allows it to determine the other entity’s activities (within the meaning of case law of the European Court of Justice on the right of freedom of establishment (vrijheid van vestiging).
 
Taxes on Income and Capital Gains
 Please note that the summary in this section does not describe the Dutch tax considerations for:
 
–                                              holders                                            
    of the notes if such holders, and in the case of an individual, his or her partner or certain 
     of his or her relatives by blood or marriage in the direct line (including foster children), 
      have a substantial interest (aanmerkelijk belang) or deemed substantial interest (fictief   
       aanmerkelijk belang) in PGF under the Dutch Income Tax Act 2001 (Wet inkomstenbelasting    
         2001). Generally speaking, a holder of notes has a substantial interest in PGF if it     
    has, directly or indirectly (and, in the case of an individual, alone or together with certain
    relatives) (i) the ownership of, a right to acquire the ownership of, or certain rights over, 
       shares representing 5% or more of either the total issued and outstanding capital of PGF   
      or the issued and outstanding capital of any class of shares of PGF, or (ii) the ownership  
          of, or certain rights over, profit participating certificates (winstbewijzen) that      
    relate to 5% or more of either the annual profit or the liquidation proceeds of PGF. A deemed 
     substantial interest may arise if a substantial interest (or part thereof) has been disposed 
                of, or is deemed to have been