Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000660
Chunk: 20

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 20
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 of Adjusted EBITDA

Reconciliation of Adjusted EBITDA

EBITDA is an indicator calculated as
the net income for the period plus taxes on profit, net financial result, depreciation and amortization. Petrobras announces EBITDA, as
authorized by CVM Resolution No. 156, of June 2022.

In order to reflect the management view
regarding the formation of the company's current business results, EBITDA is also presented adjusted (Adjusted EBITDA) as a result of:
results in equity-accounted investments; impairment, results with co-participation agreement in production fields and gains/losses on
disposal/write-offs of assets.

Adjusted EBITDA, reflecting the sum
of the last twelve months (Last Twelve Months), also represents an alternative to the company's operating cash generation. This measure
is used to calculate the Gross Debt and Net Debt to Adjusted EBITDA metric, helping to evaluate the company's leverage and liquidity.

EBITDA and adjusted EBITDA are not provided
for in International Financial Reporting Standards (IFRS) and should not serve as a basis for comparison with those disclosed by other
companies and should not be considered as a substitute for any other measure calculated in accordance with IFRS. These measures should
be considered in conjunction with other measures and indicators for a better understanding of the company's performance and financial
condition.

Table 10 - Reconciliation of Adjusted EBITDA

|                                                       |        |        |        |        |        | Variation (%) (*) |             |             |
| US$ million                                           |   4Q24 |   3Q24 |   4Q23 |   2024 |   2023 |       4Q24 X 3Q24 | 4Q24 X 4Q23 | 2024 X 2023 |
| Net income (loss)                                     | -2,766 |  5,891 |  6,282 |  7,605 | 24,995 |                 − |           − |       -69.6 |
| Net finance income (expense)                          |  6,018 |    281 |   -295 | 15,107 |  2,333 |            2041.6 |           − |       547.5 |
| Income taxes                                          |   -788 |  2,205 |  1,966 |  3,537 | 10,