Company: PBR
Filing Date: 2025-09-05
Form Type: 424B2
Source: 0001104659-25-087755
Chunk: 40

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-05
Form: 424B2
Chunk 40
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ies.

Ranking

The obligations of Petrobras
under the guaranties will constitute general unsecured obligations of Petrobras which at all times will rank pari passu, without
any preferences among themselves, with all other senior unsecured obligations of Petrobras that are not, by their terms, expressly subordinated
in right of payment to the obligations of Petrobras under the guaranties.

In addition, Petrobras’s obligations under the guaranties of the Notes rank, and will rank, pari passuwith its obligationsin respect of outstanding and future guaranties of indebtedness issued by PGF.

Nature of Obligation

Petrobras will unconditionally
and irrevocably guarantee (by way of a first demand guarantee) the full and punctual payment when due, whether at the maturity date of
the Notes, or earlier or later by acceleration or otherwise, of all of PGF’s obligations now or hereafter existing under the indenture
and the Notes, whether for principal, interest, make-whole premium, fees, indemnities, costs, expenses, tax payments or otherwise (such
obligations being referred to as the “guaranteed obligations”).

The obligation of Petrobras
to pay amounts in respect of the guaranteed obligations will be absolute and unconditional (thus waiving any benefits of order set forth
under Brazilian law, including those established in articles 827, 834, 835, 838 and 839 of the Brazilian Civil Code, under article 794,
caput, of the Brazilian Civil Procedure Code) upon failure of PGF to make, at the maturity date of the Notes or earlier upon any acceleration
or otherwise of the applicable Notes in accordance with the terms of the indenture, any payment in respect of principal, interest or other
amounts due under the relevant indenture and the Notes of any series on the date any such payment is due. If PGF fails to make payments
to the trustee in respect of the guaranteed obligations, Petrobras will, upon notice from the trustee, immediately pay to the trustee
such amount of the guaranteed obligations payable under the indenture and the Notes. All amounts payable by Petrobras under the guaranties
will be payable in U.S. dollars and in immediately available funds to the trustee. Petrobras will not be relieved of its obligations under
any guaranty unless and until the trustee receives all amounts required to be paid by Petrobras under such guaranty (and any related event
of default under the relevant