Company: PBR
Filing Date: 2025-05-15
Form Type: 6-K
Source: 0001292814-25-002093
Chunk: 7

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-05-15
Form: 6-K
Chunk 7
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 4,536 |  3,766 |  6,547 |
| (*) Includes government bonds, bank deposit certificates                                                                           
 and time deposits of companies classified as held for sale.                                                                        
 (**) Free cash flow (FCF) is in accordance with the                                                                                
 new Shareholder Remuneration Policy (“Policy”) approved on 07/28/2023 and corresponds to operating cash flow minus acquisitions    
 of property, plant and equipment, intangible assets and equity interests.                                                          |        |        |        |

| Performance Report 1Q25 I 11 |

LIQUIDITY AND CAPITAL RESOURCES

As of March 31, 2025, cash and cash equivalents
totaled US$ 4.7 billion, and adjusted cash and cash equivalents totaled US$ 8.5 billion.

In 1Q25, funds generated by operating
activities reached US$ 8.5 billion and free cash flow was positive at US$ 4.5 billion. Additionally, during the period, the following
were recorded: redemption of securities (US$ 1.4 billion), inflows from earn-outs (US$ 0.5 billion), and financial compensation for co-participation
agreements in Sépia and Atapu (US$ 0.4 billion).

The operational cash generation, combined
with the inflows from securities redemptions and divestments, was used to: (a) investments (US$ 4.0 billion), (b) shareholders remuneration
(US$ 2.9 billion), (c) lease liabilities amortization (US$ 2.1 billion), and (d) amortization of principal and interest due in the period
(US$ 1.0 billion).

In 1Q25, the Company paid off various
loans and financings amounting to US$ 1.0 billion and raised US$ 0.5 billion, notably a long-term operation of US$ 495 million in the
domestic banking market.

| Performance Report 1Q25 I 12 |

DEBT INDICATORS

Debt indicators

As of March 31, 2025, gross debt totaled
US$ 64.5 billion, representing an increase of 6.9% compared to December 31, 2024. This increase was primarily driven by the start-up of
the leased FPSO Almirante Tamandaré (Búzios 7) and the