Company: PBR
Filing Date: 2025-09-03
Form Type: 424B2
Source: 0001104659-25-086714
Chunk: 38

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-03
Form: 424B2
Chunk 38
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per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second business day preceding
such redemption date of the United States Treasury security maturing on, or with a maturity that is closest to, the relevant Par Call
Date, as applicable. If there is no United States Treasury security maturing on the relevant Par Call Date but there are two or more United
States Treasury securities with a maturity date equally distant from such Par Call Date, one with a maturity date preceding such Par Call
Date and one with a maturity date following such Par Call Date, PGF shall select the United States Treasury security with a maturity date
preceding such Par Call Date. If there are two or more United States Treasury securities maturing on the relevant Par Call Date or two
or more United States Treasury securities meeting the criteria of the preceding sentence, PGF shall select from among these two or more
United States Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid
and asked prices for such United States Treasury securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance
with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon
the average of the bid and asked prices (expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United
States Treasury security, and rounded to three decimal places. PGF’s actions and determinations in determining the redemption price
shall be conclusive and binding for all purposes, absent manifest error.

On and after the redemption date, interest will
cease to accrue on the Notes or any portion of the Notes called for redemption (unless we default in the payment of the redemption price
and accrued and unpaid interest). On or before the redemption date, we will deposit with the trustee money sufficient to pay the redemption
price of and (unless the redemption date shall be an interest payment date) accrued and unpaid interest to the redemption date on the
Notes to be redeemed on such date. If less than all of the Notes of any series are to be redeemed, the Notes to be redeemed shall be selected
by the trustee by such method as set forth in the indenture for such series.

Redemption for Taxation Reasons

We have the option, subject to certain conditions, to redeem each series of the Notes in whole at