Company: PBR
Filing Date: 2025-11-17
Form Type: 6-K
Source: 0001292814-25-004008
Chunk: 11

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-11-17
Form: 6-K
Chunk 11
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 Others                                                                                             |      -2,933 |     -4,723 |
| LTM Adjusted EBITDA                                                                                |      38,581 |     40,399 |
| Gross Debt net of cash and cash equivalents/LTM OCF ratio                                          |        1.81 |       1.50 |
| Net Debt/LTM Adjusted EBITDA ratio                                                                 |        1.53 |       1.29 |

| 12 |

RESULTS BY OPERATING BUSINESS SEGMENTS

Exploration and Production (E&P)

Financial information

| US$ million                                              | Jan-Sep/2025 | Jan-Sep/2024 | Change (%) |
| Sales revenues                                           |       45,208 |       47,128 |       -4.1 |
| Gross profit                                             |       24,632 |       28,307 |      -13.0 |
| Income (Expenses)                                        |       -3,341 |       -3,403 |       -1.8 |
| Operating income                                         |       21,291 |       24,904 |      -14.5 |
| Net income attributable to the shareholders of Petrobras |       14,129 |       16,499 |      -14.4 |
| Average Brent crude (US$/bbl)                            |        70.85 |        82.79 |      -14.4 |
| Production taxes – Brazil                                |        8,141 |        8,760 |       -7.1 |
| Royalties                                                |        5,331 |        5,483 |       -2.8 |
| Special Participation                                    |        2,783 |        3,250 |      -14.4 |
| Retention of areas                                       |           27 |           27 |          - |

[1]

In the period Jan-Sep/2025, the gross profit
for the E&P segment was US$ 24,632 million, a decrease of 13.0% compared to the period Jan-Sep/2024, mainly due to the reduction
in sales revenues which reflect lower Brent prices, higher costs primarily due to increased expenses with the start of operations of Route
3, subsea interventions and platform maintenance, as well as higher depreciation due to the increase in capitalized decommissioning costs,
which occurred in December 2024. These effects were partially offset by increased crude oil and LNG production during the period.

Operating income was US$ 21