Company: PBR
Filing Date: 2025-05-13
Form Type: 6-K
Source: 0001292814-25-002051
Chunk: 32

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-05-13
Form: 6-K
Chunk 32
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 shares during the period taking
into account the effects of all dilutive potential shares (equity instrument or contractual arrangements that are convertible into shares).

Basic and diluted earnings are identical as the
Company has no potentially dilutive shares.

| 39 |

| 26. | Financial risk management |

The Company is exposed to a variety of risks arising
from its operations, such as price risk (related to crude oil and oil products prices), foreign exchange rates risk, interest rates risk,
credit risk and liquidity risk. Corporate risk management is part of the Company’s commitment to act ethically and comply with the
legal and regulatory requirements of the countries where it operates.

The Company presents a sensitivity analysis for
the period of one year, except for operations with commodity derivatives, for which a three-month period is applied, due to the short-term
nature of these transactions.

The effects of derivative financial instruments
and hedge accounting are set out as follows.

| 26.1. | Statement of income |

|                                                    |              | Gains/ (losses) recognized in the statement of income |
|                                                    | Jan-Mar/2025 |                                          Jan-Mar/2024 |
| Foreign exchange rate risk                         |              |                                                       |
| Cross-currency Swap CDI x Dollar - Note 26.4.1 (b) |           28 |                                                    -1 |
| Cash flow hedge on exports - Note 26.4.1 (a)       |         -722 |                                                  -697 |
| Interest rate risk                                 |              |                                                       |
| Swap IPCA X CDI - 26.4.1 (b)                       |           11 |                                                   -20 |
| Recognized in Net finance income (expense)         |         -683 |                                                  -718 |
| Price risk (commodity derivatives)                 |              |                                                       |
| Recognized in other income and expenses            |            2 |                                                     5 |
| Total                                              |         -681 |                                                  -713 |

The effects on the statement of income of derivative
financial instruments reflect both outstanding transactions as well as transactions closed during the period.

| 26.2. | Statement of comprehensive income |

|                                              |              | Gains/ (losses) recognized in the period |
|                                              | Jan-Mar/2025 |                             Jan-Mar/2024 |
| Hedge accounting                             |              |                                          |
| Cash flow hedge on exports - Note 26.4.1 (a) |        5,574 |                                   -1,325