Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000670
Chunk: 145

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 145
---
 of risks arising from its
operations, such as the risk related to the prices of oil and oil products, exchange and interest rates, credit and liquidity risk. Corporate
risk management is part of the company's commitment to act ethically and in compliance with the legal and regulatory requirements established
in the countries where it operates.

For the management of market / financial risks, preferably
structural actions are adopted, created as a result of an adequate management of the company's capital and indebtedness. Risks are managed
considering governance and established controls, specialized units and monitoring in statutory committees under the guidance of the Executive
Board and the Board of Directors. In the company, risks must be considered in all decisions and their management must be carried out in
an integrated manner, taking advantage of the benefits of diversification.

In its corporate risk management process, Petrobras maintains
derivative financial instruments to hedge its exposures to market risks on certain occasions and designates certain U.S. dollar obligations
and highly probable future exports as hedge accounting relationships to protect against exchange rate variations.

The Company presents a sensitivity analysis for the period
of one year, except for operations with commodity derivatives, for which a three-month period is applied, due to the short-term nature
of these transactions.

The effects of derivative financial instruments and hedge
accounting are set out as follows.

| 100 |

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

| 33.1. | Statement of income |

|                                              |                                    | Consolidated |
|                                              | Gain/(Loss) recognized in the year |              |
|                                              |                               2024 |         2023 |
| Exchange rate risk                           |                                    |              |
| Cross currency Swap - CDI x US$ - 33.4.1 (b) |                               -533 |          398 |
| Other derivatives                            |                                  1 |            2 |
| Cash flow hedge on exports - 33.4.1 (a)      |                            -16,246 |      -18,846 |
| Interest rate risk                           |                                    |              |
| Swap - IPCA X CDI - 33.4.1 (b)               |                               -426 |          127 |
| Recognized in Net finance income (expense)   |                            -17,204 |      -18,319 |
| Price risk (commodity derivatives)           |                                    |              |
| Recognized in other income