Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000670
Chunk: 152

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 152
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 use derivative financial instruments to manage interest rate risk, except for
specific situations faced by certain subsidiaries of Petrobras.

| 105 |

| NOTES TO THE FINANCIAL STATEMENTSPETROBRAS(In millions of reais, unless otherwise indicated) |

In the interest rate risk sensitivity analysis, the probable
scenario represents the amounts to be disbursed by Petrobras relating to the payment of interests on debts linked to floating rates as
of December 31, 2024. The reasonably possible scenario represents the disbursement if there is a 40% change on these rates, keeping all
other variables constant.

| Risk                                                           |     | Probable Scenario | Reasonably Possible Scenario |
| Financings                                                     |     |                   |                              |
| SOFR 3M (1)                                                    |     |               574 |                          743 |
| SOFR 6M (1)                                                    |     |               558 |                          659 |
| SOFR O/N (1)                                                   |     |               864 |                        1,209 |
| CDI                                                            |     |             2,484 |                        3,478 |
| TR                                                             |     |                28 |                           39 |
| TJLP                                                           |     |               323 |                          452 |
| IPCA                                                           |     |               420 |                          588 |
|                                                                |     |             5,251 |                        7,168 |
| (1) Represents the Secured Overnight Funding Rate (note 24.4). |     |                   |                              |

| 33.5. | Liquidity risk management |

The possibility of a shortage of cash to settle the Company’s
obligations on the agreed dates is managed by the Company. The Company mitigates its liquidity risk by defining reference parameters for
treasury management and by periodically analyzing the risks associated to the projected cash flow, quantifying its main risks through
Monte Carlo simulations. These risks include oil prices, exchange rates, gasoline and diesel international prices, among others. In this
way, the Company is able to predict cash needs for its operational continuity and for the execution of its strategic plan.

In this context, Petrobras' individual and consolidated financial
statements, even though they show negative net working capital, do not compromise its liquidity.

In addition, the company maintains revolving credit facilities
contracted as a liquidity reserve in adverse situations, as per note 30.5, and regularly assesses market conditions and may carry out
rep