Company: PBR
Filing Date: 2025-09-03
Form Type: 424B2
Source: 0001104659-25-086714
Chunk: 122

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-09-03
Form: 424B2
Chunk 122
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 holders of such debt securities a combination       
 of money and non-callable U.S. government or U.S. government agency debt securities or bonds that, in the opinion of a nationally recognized  
 firm of independent accountants, will generate enough cash without reinvestment to make interest, principal and any other payments, including 
 additional amounts, on such debt securities on their various due dates.                                                                       |

<div align='center'>25</div>

| · | We must deliver to the trustee a legal opinion of our counsel confirming that under then current U.S. federal income tax law we may    
 make the above deposit without causing you to be taxed on such debt securities any differently than if we did not make the deposit and 
 just repaid the debt securities ourselves.                                                                                             |

If we accomplish covenant defeasance, the following
provisions of the indenture as it applies to the debt securities of a series and/or such debt securities would no longer apply:

| · | Any covenants applicable to the series of debt securities and described in the applicable prospectus supplement. |

| · | The events of default relating to breach of those covenants being defeased and acceleration of the maturity of other debt, described 
 later under “Default and Related Matters—Events of Default”                                                                          |

If we accomplish covenant defeasance, you can still
look to us for repayment of the debt securities if there were a shortfall in the trust deposit. In fact, if any event of default occurred
(such as our bankruptcy) and the debt securities become immediately due and payable, there may be such a shortfall. Depending on the event
causing the default, you may not be able to obtain payment of the shortfall. (Petrobras Sections 14.03 and 14.04; PGF Section 14.04)

<div align='center'>Default and Related Matters</div>

Ranking

The applicable prospectus supplement will indicate
whether the debt securities are subordinated to any of our other debt obligations and whether they will be secured by any of our assets.
If they are not subordinated, they will rank equally with all our other unsecured and unsubordinated indebtedness. If they are not secured,
the securities will effectively be subordinate to our secured indebtedness.

Events of Default

You will have special rights if an event of default
occurs and is not cured, as described later in this subsection.

The term event of default means any of the following:

| · | We do not pay the principal on a debt security of a