Company: PBR
Filing Date: 2025-11-28
Form Type: 6-K
Source: 0001292814-25-004085
Chunk: 11

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-11-28
Form: 6-K
Chunk 11
---
0 2021 2022 2023 2024 2025 2026 2027 2028
2029 2030 % of FPSO leases 61% 57% 54% 53% 49% 65 GROSS DEBTUS$ billion Note: Figures refer to the Implementation Target portfolio. In
the Total Portfolio, gross debt converges to US$ 65 billion in2029 Value-driven management We have a unique portfolio, which we will continue
to manage efficiently to deliver strong, value-accretive, growth and to increase the country’s energy supply, providing benefits
to society and our shareholders We are bringing more resiliency to the company, enabling us to keep our commitments to our dividend policy
and a solid capital structure We approved an additional governance mechanism, with more flexibility to our Investments, focusing on value
generation even in challenging scenarios 37 EXPLORATION & PRODUCTION DrieleCendonTrindade(P-79 project) 38 39 We remain focused on
value generation 39 Fostering capital discipline and cost optimization Maximizing value focusing on profitable assets Delivering growing
production safely, ensuring maximum asset lifespan Replenishing reserves and exploring new frontiers Contributing to the increase of natural
gas supply Decarbonizing our portfolio E&P •< US$ 6.0/boeLifting cost in industry’s 1st quartile •23%Average IRR
of major E&P projects2 •Zero routine flaringby 2030 •Goal achievement,in 2025, of reinjecting 80 MM tCO2in CCUS3projects
•Reduction in the intensity ofmethane emissions,reaching 0.20 tCH4/thousand tHCby 2030 15 Kg CO2e / boe Competitive emissions over
the five-year period ECONOMIC ENVIRONMENTAL US$25/bbl Brent for prospective breakeven of portfolio1 Our strategy envisage high-return
capital investments that are only approved with positive NPV in robust scenarios Our portfolio has double resilience to generate value
in challenging pricing scenarios resilience resilience 1Breakeven Brent: Brent level that generates zero NPV. It only considers E&P
projects and does not consider the cost of capital of past investments 2Average real IRR for major E&P projects starting from 2022
on, considering their entire lifespan | 3Carbon Capture, Utilization and Storage 40 And it is solid even in low