Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000664
Chunk: 21

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 21
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 remained unchanged. The year
ranges used are not intended to be predictions of likely future events or outcomes.

a.3) Potential effects on “highly probable future exports” used in cash flow hedge accounting involving the Company's future exports

A transition to a low-carbon economy that is faster
than it was anticipated by the Company may negatively effect the Company's future exports. Such effect may result in certain exports,
whose foreign exchange gains or losses were designated for hedge accounting, no longer be considered highly probable, but remain forecasted,
or, depending on the magnitude of the transition and its speed, cease to be considered forecasted. The consequences of such effects are
described in the accounting policy of note 33.4.1 (a) involving the Company's future exports.

The calculation of “highly probable future
exports” is based on the projected exports in the Strategic Plan, as set out in note 4.8. The Company considers only a portion of
its projected exports as “highly probable future exports”. When determining future exports as highly probable, and therefore
eligible as a hedged item for application of cash flow hedge accounting, the Company considers the effects related to the transition to
a low-carbon economy. Carbon prices were not incorporated in such estimates.

Using the prices in the APS and NZE scenarios we
carried out a sensitivity analysis to simulate the need to reclassify the foreign exchange gains or losses recorded in equity to the statement
of income. Such analysis simulated a new future cash flow from exports, changing only the oil price, keeping all other components, variables,
assumptions and data unchanged. In such an analysis, it would be necessary to reclassify the foreign exchange losses, in the amount of
US$ 10 (R$ 61 million), recorded in equity to the statement of income in the NZE scenario.

The simulations used to perform such sensitivity
analysis, based on Brent prices of the scenarios APS and NZE, are not considered by the Company as the best estimates to determine expected
effects of the reclassification of foreign exchange variation recorded in equity to the statement of income.

a.4) Potential effects on the useful lives of PP&E

A transition to a low-carbon economy that is faster
than the Company anticipates may reduce the useful life of its assets, which could lead to an increase in annual depreciation, depletion
and amortization expenses.

Assets directly related to the production of oil
and gas in a contracted area are depleted using the units of