Company: PBR
Filing Date: 2025-09-05
Form Type: 424B2
Source: 0001104659-25-087755
Chunk: 33

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-05
Form: 424B2
Chunk 33
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 the          
 principal amount of the indebtedness secured by the lien is not increased, and in the case of paragraphs (a), (b) and (f), the obligees 
 meet the requirements of the applicable paragraph; and                                                                                  |

| (k) | lien in respect of indebtedness the principal amount of which in                                                                         
 the aggregate, together with all other liens not otherwise qualifying as PGF permitted liens pursuant to another part of this definition 
 of PGF permitted liens, does not exceed 20% of PGF’s consolidated total assets (as determined in accordance with IFRS Accounting         
 Standards) at any date as at which PGF’s balance sheet is prepared and published in accordance with applicable law.                      |

A “wholly-owned subsidiary”
means, with respect to any corporate entity, any person of which 100% of the outstanding capital stock (other than qualifying shares,
if any) having by its terms ordinary voting power (not dependent on the happening of a contingency) to elect the board of directors (or
equivalent controlling governing body) of that person, is at the time owned or controlled directly or indirectly by that corporate entity,
by one or more wholly-owned subsidiaries of that corporate entity or by that corporate entity and one or more wholly-owned subsidiaries.

Notices

For so long as Notes in global
form are outstanding, notices to be given to holders will be given to the Trustee in accordance with its applicable policies in effect
from time to time. If Notes are issued in individual definitive form, notices to be given to holders will be deemed to have been given
upon the mailing by first class mail of such notices to holders of the Notes at their registered addresses as they appear in the registrar’s
records.

Optional Redemption

PGF will not be permitted
to redeem the Notes before their stated maturity, except as set forth below. The Notes will not be entitled to the benefit of any sinking
fund (we will not deposit money on a regular basis into any separate account to repay your Notes). In addition, you will not be entitled
to require us to repurchase your Notes from you before the stated maturity.

On and after the redemption
date, interest will cease to accrue on the Notes or any portion of the Notes called for redemption (unless we default in the payment of
the redemption price and accrued and unpaid interest). On or before the business day prior to any redemption date, we will deposit with
the trustee money sufficient to pay the redemption price of and (unless the redemption