Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000664
Chunk: 124

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 124
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 to the Brent price projections in the Business Plan 2025-2029,
would not indicate a reclassification from equity to the statement of income.

A schedule of expected reclassification of cumulative
foreign exchange losses recognized in other comprehensive income to the statement of income as of December 31, 2024, is set out below:

|                      |   2025 |   2026 |   2027 |   2028 |   2029 | 2029 onwards |   Total |
| Expected realization | -5,557 | -5,697 | -5,766 | -4,497 | -3,658 |       -5,670 | -30,845 |

Accounting policy for hedge accounting

At inception of the hedge relationship, the Company
documents its objective and strategy, including identification of the hedging instrument, the hedged item, the nature of the hedged risk
and evaluation of hedge effectiveness requirements.

Considering the natural hedge and the risk management
strategy, the Company designates hedging relationships to account for the effects of the existing hedge between a foreign exchange gain
or loss from proportions of its long-term debt obligations (denominated in U.S. dollars) and foreign exchange gain or loss of its highly
probable U.S. dollar denominated future exports revenues, so that gains or losses associated with the hedged transaction (the highly probable
future exports) and the hedging instrument (debt obligations) are recognized in the statement of income in the same periods.

Foreign exchange gains and losses on proportions
of debt obligations and lease liability (non-derivative financial instruments) have been designated as hedging instruments.

The highly probable future exports for each month
are hedged by a proportion of the debt obligations with an equal US dollar nominal amount. Only a portion of the Company’s forecast
exports are considered highly probable.

The Company’s future exports are exposed
to the risk of variation in the Brazilian Real/U.S. dollar spot rate, which is offset by the converse exposure to the same type of risk
with respect to its debt denominated in U.S. dollar.

The hedge relationships are assessed on a monthly
basis and they may cease and may be re-designated in order to achieve the risk management strategy.

Foreign exchange gains and losses relating to the
effective portion of such hedges are recognized in equity, within other comprehensive income and reclassified to the statement of income
within finance income (expense) in the periods when the hedged item affects the statement of