Company: PBR
Filing Date: 2025-09-03
Form Type: 424B2
Source: 0001104659-25-086714
Chunk: 152

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-03
Form: 424B2
Chunk 152
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 distribution or, in the case of a non-cash distribution,
sell the distributed property or securities (by public or private sale) in such amounts and in such manner as the depositary deems necessary
and practicable to pay such taxes and distribute any remaining net proceeds or the balance of any such property after deduction of such
taxes to the ADR holders entitled thereto.

By holding an ADR or an interest therein, you will
be agreeing to indemnify Petrobras, the depositary, its custodian and any of Petrobras’ or their respective officers, directors,
employees, agents and affiliates against, and hold each of them harmless from, any claims by any governmental authority with respect to
taxes, additions to tax, penalties or interest arising out of any refund of taxes, reduced rate of withholding at source or other tax
benefit obtained.

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Reclassifications, Recapitalizations and Mergers

If Petrobras takes certain actions that affect
the deposited securities, including (i) any change in par value, split-up, consolidation, cancellation or other reclassification
of deposited securities or (ii) any distributions of shares or other property not made to ADR holders or (iii) any recapitalization,
reorganization, merger, consolidation, liquidation, receivership, bankruptcy or sale of all or substantially all of Petrobras’ assets,
then the depositary may choose to, and shall if reasonably requested by Petrobras:

| · | amend the form of ADR; |

| · | distribute additional or amended ADRs; |

| · | distribute cash, securities or other property it has received in connection with such actions; |

| · | sell any securities or property received and distribute the proceeds as cash; or |

| · | none of the above. |

If the depositary does not choose any of the above
options, any of the cash, securities or other property it receives will constitute part of the deposited securities and each ADS will
then represent a proportionate interest in such property.

Amendment and Termination

How may the deposit agreements be amended?

Petrobras may agree with the depositary to amend
the deposit agreements and the ADSs without your consent for any reason. ADR holders must be given at least 30 days’ notice of any
amendment that imposes or increases any fees or charges on a per ADS basis (other than stock transfer or other taxes and other governmental
charges, transfer or registration fees, SWIFT