Company: PBR
Filing Date: 2025-05-13
Form Type: 6-K
Source: 0001292814-25-002051
Chunk: 37

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-05-13
Form: 6-K
Chunk 37
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 -120 |
| Pound/Dollar                                                | Assets                              |                      939 |                  5,394 |                13 |                          188 |
|                                                             | Liabilities                         |                   -1,853 |                -10,642 |               -26 |                         -371 |
|                                                             | Total                               |                     -914 |                 -5,248 |               -13 |                         -183 |
| Others (1)                                                  | Assets                              |                       18 |                    105 |                 5 |                           -3 |
|                                                             | Liabilities                         |                      -52 |                   -296 |                -2 |                          -10 |
|                                                             | Total                               |                      -34 |                   -191 |                 3 |                          -13 |
| Total at March 31, 2025                                     |                                     |                  -42,969 |               -246,742 |            -1,160 |                       -8,601 |
| (1) Pound sterling/ real, euro/ real and peso/ U.S. dollar. |                                     |                          |                        |                   |                              |

| 26.4.2. | Risk management of products prices                 
 - crude oil and oil products and other commodities |

The Company is exposed to commodity price cycles,
and it may use derivative instruments to hedge exposures related to prices of products purchased and sold to fulfill operational needs
and in specific circumstances depending on business environment analysis and assessment of whether the targets of the Business Plan are
being met.

The Company, by use of its assets, positions and
market knowledge from its operations in Brazil and abroad, may seek to optimize some of its commercial operations in the international
market, with the use of commodity derivatives to manage price risk.

The probable scenario uses market references, used
in pricing models for oil, oil products and natural gas markets, and takes into account the closing price of the asset on March 31, 2025.
Therefore, no effect is considered arising from outstanding operations in this scenario. The reasonably possible scenario reflects the
potential effects on the statement of income from outstanding transactions, considering a variation in the closing price of 20%. To simulate
the most unfavorable scenarios, the variation was applied to each asset according to open transactions: price decrease for long positions
and increase for short positions.

| Financial Instruments                           | Risk                                | Probable scenario | Reasonably possible scenario |
| Derivatives not designated for hedge accounting |                                     |                   |                              |
| Crude oil and oil products - price changes      | Future and